Rising demand for synthetic textiles is a major factor driving the growth of the textile fibre carbon black market. Carbon black is primarily used in the production of synthetic textiles. Furthermore, key players are investing heavily in the production of synthetic fibre, which is expected to boost Carbon Black Market for Textile Fibers growth. For example, in March 2019, synthetic yarn manufacturer Filatex India announced a Rs 275 crore investment to increase its capacity by 300 tonnes per day to 1,050 tonnes per day. Another major factor driving the growth of the carbon black market is the low cost of synthetic textiles. Rapid urbanization is also expected to accelerate market growth. According to the United Nation, in 2018, 55% of the world's population lives in urban areas, a proportion that is expected to increase to 68% by 2050.
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