New Study from Tech Archival Explores Indian Carbon Black Market Right Through 2018
Portland, OR, March 03, 2013 --(PR.com
)-- The product "carbon black" is an industrial raw material which contains nearly 95% of amorphous carbon, a highly porous substance in the size of nanometres that is produced under a well-controlled manufacturing process. Carbon black is basically an inorganic chemical which is used far and wide as a popular reinforcing agent in the manufacturing of tires and other rubber related products. It is also immensely required in the manufacturing of conveyor belts, hoses, inks, paints, batteries and other chemicals. The global tyre industry is the largest consumer of carbon black, consuming nearly 80% of the global carbon black demand in 2012.
According to "India Carbon Black Market Assessment & Future Opportunities, 2008-2018"; a recent focused study published by Tech Archival, global activated carbon market is anticipated to reach a massive value of USD 19 Billion by 2018. Globalization has resulted in the shift of manufacturing bases close to raw materials, cheaper energy sources and lower tax regimes especially in Asia Pacific. Benefiting from this outlook, Indian carbon black sales volumes have seen an upward rise in recent times, recording revenues of more than US$ 300 Million in 2012. The performance of the market is anticipated to grow swiftly right through 2018 at a CAGR of nearly 14%.
The major reason behind this exponential growth is the growing market demand coming from the Indian tyre industry which consumed nearly 68% of domestic carbon black demand in 2012. The Indian tyre market is forecasted to grow at a CAGR of nearly 15% over the five year period from 2013 to 2018. "Nearly all leading tyre manufacturers are planning to expand their capacities to meet the rising demand from vehicle manufacturers. Likewise, a number of global automobile companies are focusing their resources to develop India as an export hub for vehicles and cars, which has resulted in an exponential market growth for both tires and carbon black manufacturers. Several other industries i.e. rubber, inks and paints are also growing steadily which, in turn, supporting the growth of Indian carbon black market," said Dr. Siddhartha, senior consultant at Tech Archival.
Tech Archival further estimates that carbon black domestic sales volumes will experience a first rate growth by the end of 2018 which is expected to drive the market to reach total sales volume of more than 900 Thousand tons.
About Tech Archival-
Tech Archival is a global technology intelligence company providing focused market research solutions and consulting services. Our research studies are designed to provide wealth of insights that cover both industries and markets including market size by value, by sales, market segmentation by companies, geographies, production capacities, product segmentation, business trends, threats and opportunity analysis, competitive strategies and company profiles among many more.
Kindly visit www.techarchival.com for further details.