NOIDA, INDIA: 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 $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 into two categories - commodity carbon black and speciality carbon black.
Commodity carbon black is widely used in rubber and plastics manufacturing industries, owing to its excellent reinforcing properties. Whereas speciality carbon black is majorly used to provide colour, 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.
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.
“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 a key ingredient in moulding 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 percent,” said Karan Chechi, research director with TechSci Research, a research based global management consulting firm.
“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 the production of rubber goods are anticipated to propel demand for carbon black in the country in the coming years as well,’’ added Chechi.
“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 analyses emerging trends along with essential drivers, challenges and opportunities in India carbon black market.
© Chemical Today News
Read More: India carbon black market to exceed $2 bn by 2026 – Report
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