Carbon Black Market in India to Surpass $2 billion by 2026
Robust
growth in tire manufacturing industries and increasing production of automotive
units to drive consumption of carbon black in India through 2026
According to TechSci Research
report, “India
Carbon Black Market By Type, By Application, Competition Forecast and
Opportunities, 2012-2026’’,
India carbon black market is
forecast to surpass US$ 2 billion by 2026. Carbon black is a pure
elemental form of carbon, and is available as a fine powder and pellets. Carbon
black is majorly used as key raw material in tire, industrial rubber, belt
& hoses and other product manufacturing industries. On the basis of type,
carbon black is segmented in two categories - commodity carbon black and
specialty carbon black. Commodity carbon black is widely used in rubber and
plastics manufacturing industries, owing to its excellent reinforcing properties.
Whereas specialty carbon black is majorly used to provide color, conductivity
and ultraviolet (UV) protection in paints, coatings, printing inks, cosmetics,
tonners, etc. Booming industrial sector coupled with growing expansions of
leading tire, rubber and paints companies in India is expected to boost demand
for carbon black in the country through 2026.
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https://www.techsciresearch.com/report/india-carbon-black-market-by-type-commodity-carbon-black-specialty-carbon-black-by-application-tire-industrial-rubber-belt-hoses-others-competition-forecast-and-opportunities/1027.html
Tire
manufacturing dominated demand for carbon black in India. Carbon black is used in
manufacturing automotive tires to enhance dampening property of rubber, provide
sufficient road grip, transmit steering forces to guide vehicle and enhance durability
to enable use at high speeds and longer durations. Additionally, carbon black also
possesses conductive properties, which is necessary for grounding tires. Growing
investments in automobile manufacturing sector in India for setting up new
production facilities has driven leading tire manufacturing companies to expand
their production base. India tire production grew from 128.17 million unit in
2012 to 145.26 million unit in 2015. Rising expansion of both domestic and
international tire manufacturing companies in India is anticipated to increase
consumption of carbon black as reinforcement filler in tire production.
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‘’Apart
from tire manufacturing, large quantities of carbon black are also being used
in manufacturing industrial rubber, belts & hoses, paints & coatings
and printing inks. Carbon black is used as key ingredient in molding and
extrusion of industrial rubbers to provide high performance and efficiency. During
2012-2015, consumption of rubber (natural & synthetic) from non-tire
segment grew at a CAGR of 3.09%. Continuous growth of industrial sector,
increasing number of product manufacturing facilities in India coupled with
growing installation of fully automated operations in food processing and goods
manufacturing industries are expected to drive demand for conveyor belts,
hydraulic and fuel hoses and thereby raise consumption of carbon black as an additive.
Increasing
investments and rising number of production facilities engaged in production of
rubber goods is anticipated to propel demand for carbon black in the country in
the coming years as well.’’, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“India
Carbon Black Market By Type, By Application, Competition Forecast and Opportunities, 2012-2026” has evaluated the future
growth potential of India carbon black market and provides statistics and information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment evaluation. Besides, the report also identifies and analyzes
emerging trends along with essential drivers, challenges and opportunities in India
carbon black market.
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