NEW YORK, November 15, 2016 /PRNewswire/ --
Growing demand for tires and increasing demand from multiple end use industries to drive India carbon black market through 2025
According to a recently released TechSci Research report, "India Carbon Black Market Study, 2011 - 2025", the market of carbon black in India is anticipated to cross $1.4 billion by the end of 2025. In India, carbon black is mostly being used in tire manufacturing industries for imparting toughness and colour to the tire. Hence, with increasing number of tire manufacturing industries, the demand for carbon black in India is expected to grow at a robust pace. Moreover, significant use of carbon black in rubber industrial products, belts & hoses, printing inks, moulding plastics, etc., are expected to positively influence the demand for carbon black in Indiaduring 2016 - 2025.
Tire is the largest consumer of carbon black in the country, as it accounts for almost 25% of a single tire's weight. In India, total tire production stood at 146.15 million units in FY2015. Moreover, the country's tire market is forecast to witness a CAGR of over 9% during 2016-2021. Hence, with increasing production of tires in the country, the demand for carbon black is expected to grow at a robust pace during forecast period.
"South region dominated the India carbon black market in 2015, and the same trend is expected to continue by the end of 2025. In India, Kerala is the largest manufacturer of natural rubber in India. In addition to the presence of tire manufacturers, various manufacturers of industrial rubber are also located in this region." said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.
"India Carbon Black Market Study, 2011 - 2025" 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 the emerging trends along with essential drivers, challenges and opportunities in India carbon black market.
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