Portland, OR, January 31, 2014 --(PR.com
)-- Carbon black is an inorganic chemical which is used far and wide as a reinforcing agent in the manufacturing of tires and rubbers. It is also required in large quantities for the manufacturing of various other products such as conveyor belts, hoses, inks, paints, batteries, etc. Other classified names for carbon black are acetylene black, channel black, furnace black, lamp black, thermal black, and noir de carbone. The global tire industry is the largest consumer of carbon black that accounted for nearly 80 % of the total carbon black demand in 2013.
Globalization has resulted in the shift of manufacturing bases close to raw materials, cheaper energy sources and lower tax regimes especially in Asia Pacific. This has created an attractive platform for Indian carbon black industry to grow rapidly. Benefiting from this confirming trend, the Indian carbon black market recorded total sales volumes of more than 500 thousand tons and generated revenues to the tune of US$ 700 million in 2013. The market is mostly dominated by two key players; Phillips Carbon Black Ltd. (unit of RPG group) and Hi-tech Carbon (unit of Aditya Birla Nuvo Ltd.) which have commanded the majority of market sales volumes by 2013. Also present in the market are few other significant players including Continental Carbon India Ltd. (a subsidiary of Continental Carbon Company, USA), Cabot India Ltd. (a subsidiary of Cabot Corporation USA) and Himadri Chemicals & Industries Ltd. (an Indian chemical manufacturing company) which stand among the top 5 players in the Indian carbon black market by 2013.
The exponential growth of Indian carbon black market is mostly credited to the growing market demand coming from the Indian tire industry which consumed more than 65% of domestic carbon black demand in 2013. Several other chemical industries i.e. rubber, inks, paints, etc. are also growing steadily which is positively supporting the market growth in the country.
‘India Carbon Black: Assessment, Opportunities & Forecast Up-to 2018’ projects that market demand will continue growing well at a CAGR of more than 10% over the next four year period from 2014-2018 which is anticipated to drive annualized sales volumes to reach above 900 thousand tons by 2018.
Companies discussed include: Phillips Carbon Black Ltd., Hi Tech Carbon, Continental Carbon India Ltd., Cabot India Ltd. and Himadri Chemicals & Industries Ltd.To download a copy of this report or to browse report content, kindly click on this link
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