Himadri Speciality Chemical Ltd., a leading Indian speciality chemicals manufacturer, is reinforcing its market position with significant expansions in carbon black production, a strategic entry into speciality tyre manufacturing, and ambitious diversification into EV battery materials.

The company reported robust financial performance for the fiscal year ended 31 March 2025, with profit after tax jumping 36 percent to INR 5.58 billion, setting the stage for its expansion plans.

In a major development for its core business, Himadri is expanding its speciality carbon black operations at Singur from 60,000 to 130,000 metric tonnes annually, with operations expected to begin by Q3 FY26. This expansion will boost total capacity to 250,000 metric tonnes, making it “the single largest site for speciality carbon black facility in the world," according to Managing Director Anurag Choudhary.

The INR 2.2 billion investment is projected to generate annual revenue of INR 4.4 billion, with impressive margins ranging from INR 20,000 to 50,000 per tonne, depending on grades. The expansion targets growing demand across specialty fibre blacks, conductive black, inks, plastics, coatings, and battery segments.

Unlike competitors facing market pressures, Himadri's strategic focus on specialty products has created resilience in its business model. “We are largely protected. Our very minimum volume goes to the tyre industry," Choudhary noted, with less than 25 per cent of its carbon black sales going to tyre manufacturers.

Following its acquisition of Birla Tyres alongside resolution applicant Dalmia Bharat Refractories, Himadri is strategically entering specialty tyre manufacturing. The company will focus on off-highway and electric vehicle segments, with operations beginning in phases starting from the end of Q1 FY26.

Initial production will be 10-20 tonnes, gradually increasing quarterly. Products initially include agricultural and mining tyres and bias tyres for commercial vehicles before expanding into passenger car radials and EV tyres. The company is currently awaiting Bureau of Indian Standards approval, which is expected within 30 days.

Himadri is also establishing a 200,000 metric tonne annual capacity plant for lithium iron phosphate (LFP) cathode active material, with the initial 40,000 metric tonne capacity phase operational by Q3 FY27. "We’ll be the first manufacturing plant in the world other than China for electric commissioning,” Choudhary said.

The company aims to boost profit to over INR 8 billion ($96 million) by fiscal 2027, representing a 43 percent increase from current levels. “By FY ’27, we expect a PAT of 800-plus crores," said Choudhary. “Our PAT will be INR 8 billion-plus, so that lays down the road map for growth, and it will be coming from all around the business, from our existing business to the new businesses that we are entering and the capacities that are setting up."

Export sales accounted for 27 percent of total revenue in FY25, with carbon black exports representing 35-40 percent of that segment's sales. The company sees "very bright” export opportunities for its coal tar pitch business in Middle Eastern and Southeast Asia.

"Battery breakthroughs won't just come from one component, but from a holistic mastery of the ecosystem," Choudhary told analysts, highlighting the company's strategic push into clean energy materials amid booming electric vehicle adoption.

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French biotech firm expands into industrial fabrics market through enzymatic PET recycling technology

French biotechnology company CARBIOS has signed a multi-year commercial agreement with Thailand's Indorama Ventures to supply recycled materials for tyre manufacturing, marking the firm's expansion into the industrial fabrics sector.

Under the deal, CARBIOS will provide biorecycled monomers from its planned Longlaville industrial plant to Indorama Ventures, the world's largest polyester producer. The Thai company will transform these materials into recycled polyethylene terephthalate (r-PET) filaments for use in tyre reinforcement by French tyre manufacturer Michelin.

The partnership represents CARBIOS's entry into a new market segment beyond its existing focus on cosmetic packaging applications. The company uses proprietary enzymatic recycling technology to break down complex PET waste into high-quality recycled materials.

"This commercial agreement with Indorama Ventures marks a new step in the realisation of our industrial project," said Vincent Kamel, chief executive of CARBIOS. "It confirms the trust of Indorama Ventures and Michelin in our PET biorecycling technology."

The deal comes weeks after CARBIOS signed its first sales contracts for biorecycled PET with two unnamed global cosmetics companies, as the firm builds momentum ahead of the commercial launch of its Longlaville facility.

Michelin, which has committed to using 100 percent renewable and recycled materials by 2050, said the partnership advances its circular economy objectives.

"This partnership is a tangible expression of our commitment to turning complex waste into high-performance materials," said Fabien Gaboriaud, director of circularity and renewable & recycled materials at Michelin Group. "By integrating enzymatically recycled r-PET into our tyres, we are marking a new milestone on our journey toward achieving 100 percent renewable and recycled materials by 2050."

Indorama Ventures, which generated $15.4 billion in revenue last year, said the alliance underscores its commitment to circular economy principles. The company employs approximately 25,000 people across manufacturing operations in Europe, Africa, the Americas, and Asia Pacific.

"This alliance with both, CARBIOS and Michelin, underlines our commitment to plan ahead and take a leading role in shifting the industry towards circularity," said Renato Boaventura, global market head mobility at Indorama Ventures.

CARBIOS, founded in 2011, has developed enzyme-based biological processes to break down plastics as part of efforts to prevent plastic pollution and accelerate the transition to a circular economy. The company operates an industrial demonstration plant for biorecycling that has been operational since 2021.

Construction of what the company describes as the world's first biorecycling plant is expected to resume in the second half of 2025, subject to securing additional funding.

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Cabot Corporation has launched LITX 95F, a high-performance conductive carbon additive designed for lithium-ion batteries in energy storage systems (ESS). Optimised for residential, commercial and industrial ESS applications, this advanced material enhances conductivity, extends cycle life and improves processability – critical for systems requiring durability under frequent charging and discharging.

With the global ESS market expanding due to renewable energy adoption and demand for grid stability, battery manufacturers need cost-effective, high-performance solutions. LITX 95F meets these needs by boosting energy density and cycle life while maintaining stability. Pouch cell tests with thick electrodes confirm its superior capacity retention, offering manufacturers greater flexibility in ESS design.

The material’s high-structure morphology strengthens conductivity and stability over repeated cycles. Additionally, its compatibility with thick cathode designs helps lower material costs without sacrificing performance. This innovation supports the growing ESS sector by enabling more efficient, reliable and scalable battery solutions.

Jeff Zhu, Executive Vice President and President, Carbon & Silica Technologies, Battery Materials and Asia Pacific Region, said, “As the global energy landscape continues to evolve, the ESS market requires advanced materials that deliver both performance and efficiency. Our new LITX 95F product is a direct response to the needs of the market and our battery customers – leveraging our deep industry expertise with proven performance to help scale ESS applications faster and more efficiently. This launch reflects our commitment to enabling a more sustainable future by delivering innovative solutions for battery technologies that support the energy transition at a global scale.”

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The Association of Natural Rubber Producing Countries (ANRPC) has released its Monthly NR Statistical Report for June 2025, providing an overview of key developments in the global natural rubber sector. The latest data indicates a sustained downward price trend, primarily driven by improving supply conditions in major producing nations, elevated stockpiles at key ports and ongoing trade policy uncertainties.

Market analysts attribute the bearish sentiment to a combination of factors, including increased output from leading rubber-producing countries and subdued industrial demand, particularly from tyre manufacturers. These conditions have contributed to mounting pressure on prices, with limited signs of immediate recovery. The ANRPC notes that while production levels remain stable, cautious demand projections persist due to broader macroeconomic concerns, including potential trade disruptions and slowing global economic growth.

Projections for 2025 suggest a modest 0.5 percent increase in worldwide natural rubber production compared to the previous year. Meanwhile, consumption is anticipated to grow by 1.3 percent, reflecting a slight but uneven recovery across key markets. However, analysts warn that external factors, such as shifting US tariff policies and weaker-than-expected industrial activity, could further dampen demand growth in the coming months.

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Cabot Corporation has signed a definitive agreement to purchase Mexico Carbon Manufacturing S.A. de C.V. (MXCB) from Bridgestone Corporation for USD 70 million on a debt-free, cash-free basis, pending standard closing adjustments. The deal, which requires regulatory approval in Mexico, is anticipated to finalise within three to six months.

The MXCB facility, established in 2005, produces reinforcing carbons and is strategically located near Cabot’s existing Altamira plant, operational since 1990. This acquisition reinforces Cabot’s partnership with Bridgestone, ensuring long-term supply of reinforcing carbon products while expanding Cabot’s production capacity and global footprint. The facility’s versatility allows for the manufacture of additional reinforcing carbon products, enabling Cabot to meet diverse customer demands and pursue future growth opportunities.

By integrating MXCB, Cabot strengthens its position as a leading global supplier of carbon black, reaffirming its commitment to delivering high-quality, reliable materials to key markets. Bridgestone’s decision to sell MXCB to Cabot reflects confidence in Cabot’s expertise and consistent performance as a trusted industry partner. This move aligns with Cabot’s long-term growth strategy and enhances its ability to serve customers worldwide.

Sean Keohane, President and CEO, Cabot Corporation, said, “We are excited to expand our global reinforcing carbons network and deepen our collaboration with Bridgestone. This acquisition aligns with our strategy to grow in core markets and reinforces our commitment to operational excellence, innovation and customer value. Our long-standing experience in the region and cultural alignment with the local team supports a smooth integration and long-term success. Importantly, this acquisition also further strengthens our position as a global leader in reinforcing carbons, enabling us to deliver innovative solutions and dependable supply to customers.”

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