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The current situation of the international market of the TTR shows a steady growth trend, and the market size is expected to continue to expand.
Market scale and growth trends
According to the statistics and forecast of Hengce Consulting, the global sales of TTR market reached $339 million in 2023, and is expected to reach $501 million in 2030, with a compound annual growth rate (CAGR) of 5.9%.
Application area
TTR is widely used in many fields, among which manufacturing is the largest downstream field, accounting for about 31%. In addition, logistics and retail are also important applications.
Regional Distribution
Chinese market has changed rapidly in the past few years. In 2023, the market size will account for about 20% of the world in 2023, and is expected to reach 25% in 2030, when the global proportion will reach 20%.
Conclusion
The international market situation of TTR shows a stable growth trend, and the market concentration of major producers is high, and the application field is widely used. In the future, with the progress of technology and the growth of market demand, the carbon belt market is expected to continue to grow
