Market Size of India Carbon Black Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
