by The Conductive Carbon Black Market is estimated to be valued at US$ 675.22 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The conductive carbon black market is growing significantly owing to its wide application in various end use industries such as packaging, automobile components and industrial rubber products. Conductive carbon black plays a vital role in imparting electrical conductivity to plastics components without compromising on their mechanical and physical properties.
Market Overview:
Conductive carbon black is a type of carbon black that possesses well developed structure and conducting pathways to enhance electrical conductivity. It is manufactured by controlled thermal or chemical process. Conductive carbon black provides significant advantages such as corrosion resistance, high electric conductivity, thermal stability and UV resistance. It is increasingly used in plastic parts for electronic equipment, wire and cable jackets, automotive components and printing inks.
Market key trends:
One of the major trend gaining traction in the Global Conductive Carbon Black Market is its growing application in lithium-ion batteries. Conductive carbon black is used as an additive in battery electrodes and separators to improve conductivity. It helps in extending the service life of lithium-ion batteries owing to better current collection and higher power capability. Expanding electric vehicles industry has significantly boosted the demand for lithium-ion batteries which in turn has driven the consumption of conductive carbon black in recent years.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the conductive carbon black market is low due to the requirement of high capital and technology investments required for carbon black production. Bargaining power of buyers: The bargaining power of buyers in the conductive carbon black market is low as carbon black is a bulk commodity and is used by buyers across industries. Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of a large number of carbon black suppliers globally. Threat of new substitutes: The threat of new substitutes in the conductive carbon black market is moderate as alternatives like carbon nanotubes and natural graphite have limited applications. Competitive rivalry: Intense competitive rivalry exists among the key players operating in the conductive carbon black market.
SWOT Analysis
Strengths: Conductive carbon black offers properties like low resistivity, high corrosion resistance and radiation resistance. Its ease of dispersion and processing makes it preferable over alternatives.
Weaknesses: Volatility in raw material prices affects the overall costs. Issues related to health and environment are also a concern.
Opportunities: Growing applications in lithium-ion batteries, coatings, plastics and electronics present considerable opportunities. Increasing electric vehicles adoption will also boost demand.
Threats: Stringent regulations related to carbon black emissions during production poses threat. Substitutes like carbon nanotubes and graphene may limit the market growth.
Key Takeaways
The global conductive carbon black market is expected to witness high growth exhibiting a CAGR of 7.4% over the forecast period due to increasing demand for rechargeable consumer batteries like those used in smartphones, laptops, power tools and electric vehicles. North America dominated the global market in 2023 and is predicted to maintain its lead during the forecast period, supported by presence of major battery manufacturers and EV makers in the region. However, Asia Pacific is anticipated to be the fastest growing regional market by 2030 attributable to rapid industrialization and increase in EVs production in China and India.
Key players operating in the conductive carbon black market are Thai Carbon Black Public Company Limited/Birla Carbon, Cabot Corporation, Orion Engineered Carbons SA Group, Phillips Carbon Black Limited, Tokai Carbon Co., Ltd., Omsk Carbon Group, Jiangxi Blackcat Carbon Black Inc., Ltd., OCI COMPANY Ltd., Himadri Speciality Chemical Ltd., Longxing Chemical Industry Co., Ltd., and Mitsubishi Chemical Corporation. These companies are focusing on new product development and capacity expansions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
