BURNABY, Canada, March 31, 2015 /PRNewswire/ --
Rising investments in tyre sector, favorable industrial environment coupled with increasing demand for specialty products to drive carbon black market in India
According to TechSci Research report "India Carbon Black Market Forecast & Opportunities, 2020", India's carbon black market is expected to grow at around 14% CAGR until 2020. Superior reinforcing properties make carbon black a suitable material for use in diverse applications ranging from tyres, plastics, electronic equipment to inks, dyes and coatings. The report reveals that the expansion of tyre and rubber industries in the southern region of India is boosting the demand for carbon black in the country. The shift in manufacturing base of automobiles and tyre industries is expected to be a major driver for the carbon black market over the coming years. Additionally, the use of carbon black has increased in specialty segments such as inks, conductive plastics and high-performance coatings, which has led to diversification in product range offered by key industry players. In the past, Indian carbon black industry faced stiff competition from cheaper imports coming from China, which adversely affected the sales and profit margins of domestic players. However, various duties and taxes imposed by the Indian government on these imports have provided a respite to domestic industry players in the country.
Phillips Carbon Black Limited and SKI Carbon (India) are among the leading manufacturers and suppliers of carbon black in India. The country's carbon black industry has been undergoing consolidation as various domestic players have been establishing joint ventures in India and abroad, thereby creating a synergy in their operations and strengthening their footprint in the market. Besides significant manufacturing base, the country resorts to bulk imports of carbon black from other countries including China, Thailand and Russia to address its growing demand.
"Carbon black market in India is set to show promising growth in the next five years on account of various favorable developments in the country. Major players such as Phillips Carbon Black Limited have started incorporating backward integration to counter the fluctuation in prices of feedstock and volatility in crude oil prices. Moreover, low cost production in the APAC region has helped Indian players to consolidate their position in the carbon black market." said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.
"India Carbon Black Market Forecast & Opportunities, 2020" has analyzed the potential of the carbon black market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by carbon black market in India.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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