India carbon black market to grow 14% to 2020

Dublin, Ireland – The market for carbon black in India is set to show a compound annual growth rate (CAGR) of 14 percent until 2020, according to a report from information supplier Research and Markets (R&M).

In a release about the study, titled ‘India Carbon Black Market Forecast and Opportunities 2020’, R&M said the market is benefiting from import barriers and a gradual shift of manufacturing operations of various tire majors into India.

“In India, the carbon black market has been riding high on hefty taxes and duties imposed by the Indian government on foreign imports of carbon black,” the company explained.

Meanwhile, the availability of cheaper energy sources and lower taxes are the major reasons attracting the global tire manufacturers to India. This trend, said the report, is likely to raise the consumption of carbon black in the domestic market over the next five years.

In line to this industry development, carbon black companies have also made significant R&D investments, which has led to the emergence of new products and technologies over the last few years, the R&M release added.

Rising demand for high performance goods has also been driving the use of speciality carbon in India over the past few years.

As a result, a large number of premier carbon black manufacturers have expanded their production capacity over the last few years, the study noted.

Major carbon black manufacturers operating in India include Phillips Carbon Black Ltd, SKI Carbon, Continental Carbon India, Cabot India, and Himadri Chemicals and Industries Ltd.