The global Conductive Carbon Black Market is estimated to be valued at US$ 675.22 Mn or 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.
Market Overview:
Conductive carbon black is used as a reinforcement and conductivity additive for rubber and plastic products. It improves electrical conductivity, tensile strength and heat resistance of the material.
Market key trends:
Conductive carbon black finds widespread applications as plastics compounding agent for automotive parts such as battery casings, hoses and belts which require electrical conductivity. The rising automotive production across the globe especially in Asia Pacific is driving the demand for conductive carbon black. Additionally, growth of the electronics industry has augmented the usage of conductive carbon black for manufacturing of connectors, switches, printed circuit boards and cables thus boosting the market growth over the forecast period.
Market key trends:
The increasing use of conductive carbon black in lithium-ion batteries and supercapacitors is one of the key trends in the Global Conductive Carbon Black Market. Conductive carbon black improves conductivity in these devices and enhances battery performance. It is increasingly being used as an additive in the cathodes and anodes of lithium-ion batteries produced for consumer electronics, electric vehicles, and energy storage systems. The growing demand for these applications is expected to drive the demand for conductive carbon black over the coming years.
SWOT Analysis
Strength: It has high electrical conductivity and chemical stability which makes it ideal for applications in batteries, tires, coatings, plastics and other materials.
Weakness: There are environmental and health concerns associated with carbon black production which increases production costs.
Opportunity: Growing adoption of lithium-ion batteries in electric vehicles presents an opportunity for increased demand.
Threats: Stringent environmental regulations around carbon black production pose threat of disruptions or increased costs for producers. Substitute materials like graphene pose competition threat.
Key Takeaways
The global Conductive Carbon Black market is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, 2023 to 2030, due to increasing use in lithium-ion batteries.
The Asia Pacific region dominates the conductive carbon black market currently. Countries like China, Japan, and South Korea are major markets on account of having a strong base for battery production and electric vehicles.
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., and Mitsubishi Chemical Corporation.
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