India Carbon Black Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The India Carbon Black Market is segmented by process type (furnace black, gas black, lamp black, and thermal black) and application (tires and industrial rubber products, plastics, toners and printing inks, coatings, textile fibers, and other applications (insulation, power, construction, etc.)). The market sizing and forecasts are provided for each segment based on volume (tons).

India Carbon Black Market Size

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India Carbon Black Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 4.15 %
Market Concentration High

Major Players

India Carbon Black Market Major Players

*Disclaimer: Major Players sorted in no particular order

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India Carbon Black Market Analysis

The India Carbon Black Market size is estimated to reach 0.98 million tons by the end of this year. It is projected to reach 1.21 million tons in the next five years, registering a CAGR of over 4.15% during the forecast period.

Due to the COVID-19 outbreak, nationwide lockdowns led to supply-related challenges and reduced demand for new tires due to reduced automotive manufacturing. However, the demand for replacement tires did not fluctuate much, which partially eased the challenges in the carbon black market.

  • One of the major factors driving the market studied is the growing demand from the tire industry, where more than 70% of the carbon black is consumed.
  • On the flip side, high volatility in the prices of raw materials and the rising prominence of green tires are restricting market growth.
  • Growth in the adoption of electric cars is likely to act as an opportunity for the carbon black market in India.
  • In India, the Furnace Black process type is expected to dominate the market in terms of preferred production process owing to various advantages, such as cost-effectiveness, associated with it.

India Carbon Black Market Trends

Furnace Process Type to Dominate the Carbon Black Market in India

  • The furnace black process is the most modern and widely utilized process to manufacture carbon black. The process accounts for about 90% of the production of carbon black, as the majority of the manufacturers in the market use this process to produce carbon black. The furnace black process uses aromatic liquid hydrocarbon feedstock, which is heated and injected continuously into the combustion zone of a natural gas-fired furnace. Here it is decomposed to form carbon black.
  • The furnace black process is suitable for high carbon black production due to its efficiency and high yield. It allows wide control over its properties, such as particle size or structure.
  • The furnace designs and the provided operating conditions determine the particle size and the other physical and chemical properties of the carbon black produced through the process. The carbon black manufactured from the process mainly consists of particle sizes ranging from 10 to 80 nanometers.
  • It is widely used in industrial rubber production as a filler and pigment in various particle sizes and structures in plastics, inks, paints, and coatings. The carbon black manufactured through the process is largely utilized in vehicle tires for various purposes. For instance, it helps to transfer the heat away from the tire's tread and the belt area, thereby decreasing thermal damage and prolonging tire life. Thus, the tire industry is a prominent influencer in the demand for the process type.
  • Tire exports from India rose by approximately 15% from April to December in FY 2022 concerning the previous year. According to the Ministry of Commerce, India exported tires worth INR 178.16 billion (~USD 2.15 billion) compared to INR 155.07 billion (~USD 1.88 billion) during the same period in FY 2021. Growth in exports is an indication of the increase in the production of tires from the country.
  • The furnace black method offers environmental and work safety benefits during production. The fully enclosed facility minimizes the emission of process gases and dust, reducing health risks.
  • Besides its economic, environmental, and technological advantages, the furnace black process offers greater flexibility as it is competent in producing more types of carbon black than any other process.
  • All these factors are expected to influence manufacturers to prefer the furnace black method to produce carbon black in India in the coming years.
India Carbon Black Market: Tire Industry Exports, Value in INR Million, India, FY 2018 - FY 2022

Growing Demand from Tire Industry

  • The major consumer of carbon black stands to be the tire and rubber industry in India, where more than 70% of carbon black is consumed. India is one of the largest producers and consumers of rubber after China in the Asia-Pacific region.
  • The automotive industry in India is an important indicator of how well the Indian economy is performing, as this sector plays a vital role in both technological advancements and macroeconomic expansion. The sector's performance also gives a prime indication of the demand for tires in the Indian market. As of June 2023, the Indian automobile industry contributes almost 6.4% of India's GDP and 35% of manufacturing GDP and is a leading employment provider.
  • As per OICA, vehicle production in India reached a total of 5.45 million units in 2022, which indicates an increase of 24% compared to the number of units produced in 2021. The increased number of automobiles indicates the increased demand for tires and other materials where carbon black is utilized in the automotive industry.
  • Observing the consecutive growth in automotive sales in 2021 and 2022, various manufacturers announced heavy investments in increasing their automotive production capacities in the coming years. For instance, in March 2022, Maruti Suzuki India Limited announced an increase in capacity by nearly 1.1 million units with an investment of approximately INR 200 crores (~USD 2.41 billion) in its new factory in Kharkhoda, Haryana, by 2028. The first 250,000 units will be commissioned by 2025. Moroever, to cater to the continuously increasing demand for its passenger vehicles, the company also decided to increase production capacity at the Manesar plant by 100,000 units by 2024.
  • Furthermore, due to the continuous increase in demand for tires from the automotive industry, various tire manufacturers are investing in new production facilities in India. For instance, Yokohama Rubber Co. commenced production of off-road tires in Vishakhapatnam, Andhra Pradesh, in April 2022, with a daily manufacturing capacity of 69 tonnes in rubber weight. The company is also working on the second phase of expansion, expected to begin by 2024, increasing the daily capacity to 132 tons.
  • All these factors are expected to keep the demand for carbon black in India robust from the tire industry.
India Carbon Black Market: Automotive Production, in Million Units, India, 2018-2022

India Carbon Black Industry Overview

The India carbon black market is consolidated by nature. Some of the major players in the market (in no particular order) include PCBL (Phillips Carbon Black Limited), Birla Carbon, Continental Carbon Company, Himadri Specialty Chemical Limited, and Epsilon Carbon Private Limited, among others.

India Carbon Black Market Leaders

  1. PCBL (Phillips Carbon Black Limited)

  2. Birla Carbon

  3. Continental Carbon Company

  4. Himadri Specialty Chemical Limited

  5. Epsilon Carbon Private Limited

*Disclaimer: Major Players sorted in no particular order

India Carbon Black Market Concentration
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India Carbon Black Market News

September 2022: Epsilon Carbon announced an investment of INR 5.5 billion (~ USD 67.27 million) in a carbon black facility based in Vijaynagar, Karnataka. With the new investment, the company will scale its production from an installed annual capacity of 115 kilotons to 215 kilotons of carbon black material, which will be supplied to tire and non-tire market companies. The new capacity is expected to be commissioned by the end of FY 2024.

April 2022: Phillips Carbon Black Limited (PCBL), a part of RP Sanjiv Goenka Group, announced that it had begun commercial production at its INR 8 billion (~ USD 87.85 million) greenfield carbon black project in Tamil Nadu, with a capacity of 63 kilotons.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

      1. 4.1.1 Growing Demand from Tire Industry

      2. 4.1.2 Increasing Market Penetration of Specialty Black

      3. 4.1.3 Growing Applications In the Batteries Segment

    2. 4.2 Market Restraints

      1. 4.2.1 Rising Prominence of Green Tires

      2. 4.2.2 Volatility In Prices of Raw Materials

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Process Type

      1. 5.1.1 Furnace Black

      2. 5.1.2 Gas Black

      3. 5.1.3 Lamp Black

      4. 5.1.4 Thermal Black

    2. 5.2 Application

      1. 5.2.1 Tires and Industrial Rubber Products

      2. 5.2.2 Plastics

      3. 5.2.3 Toners and Printing Inks

      4. 5.2.4 Coatings

      5. 5.2.5 Textile Fibers

      6. 5.2.6 Other Applications (Insulation, Power, Construction, etc.)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Merger & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Atlas Organics Private Limited

      2. 6.4.2 Birla Carbon

      3. 6.4.3 BKT Carbon

      4. 6.4.4 Cabot Corporation

      5. 6.4.5 Continental Carbon Company

      6. 6.4.6 Epsilon Carbon Private Limited

      7. 6.4.7 Himadri Speciality Chemical Ltd

      8. 6.4.8 Jiangxi Heimao Carbon Black Co., Ltd.

      9. 6.4.9 OCI COMPANY Ltd.

      10. 6.4.10 PCBL (Phillips Carbon Black Limited)

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growth in the Adoption of Electric Cars

    2. 7.2 Other Oppportunities

**Subject to Availability
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India Carbon Black Industry Segmentation

Carbon black is a fine carbon powder made by incomplete combustion or thermal decomposition of gaseous or liquid hydrocarbons under controlled conditions. It is extensively used as a color pigment in paints and inks and as a reinforcing filler in rubber products.

The Indian carbon black market is segmented by process type and application. The market is segmented by process type into furnace black, gas black, lamp black, and thermal black. The market is segmented by application into tires & industrial rubber products, plastics, toners and printing inks, coatings, textile fibers, and other applications (insulation, power, construction, etc.). Each segment's market sizing and forecasts are in volume (tons).

Process Type
Furnace Black
Gas Black
Lamp Black
Thermal Black
Application
Tires and Industrial Rubber Products
Plastics
Toners and Printing Inks
Coatings
Textile Fibers
Other Applications (Insulation, Power, Construction, etc.)
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Frequently Asked Questions

The India Carbon Black Market is projected to register a CAGR of greater than 4.15% during the forecast period (2024-2029)

PCBL (Phillips Carbon Black Limited), Birla Carbon, Continental Carbon Company, Himadri Specialty Chemical Limited and Epsilon Carbon Private Limited are the major companies operating in the India Carbon Black Market.

The report covers the India Carbon Black Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Carbon Black Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

India Carbon Black Industry Report

Statistics for the 2024 India Carbon Black market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Carbon Black analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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India Carbon Black Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)