Conductive Carbon Black Additives Market: A Growing Sector
The Conductive Carbon Black Additives market is a growing sector in the chemical industry. Carbon black is a fine black powder that is used as a reinforcing agent in rubber and plastic products. It is also used as a conductive additive in electronic components and as a coloring agent in inks and paints.
The pandemic caused a minuscule decline of <5% in the conductive carbon black additives market in 2020, a volume basis. The market was well-backed by strong demand from industries such as electrical & electronics and automotive. Furthermore, an incessant shift from traditional ICE vehicles to EV vehicles, resulting in heavy demand for conductive carbon black additives in Li-ion batteries is likely to give an impetus to the demand for conductive carbon black additives. Overall, the conductive carbon black additives market (excluding wires) is likely to grow at a healthy CAGR of 9.0 %, in the long run, to reach US$ 1.5 Billion in 2028.
The demand for Conductive Carbon Black Additives has increased over the years due to the growth of the electronics industry. Carbon black is an essential component in the production of conductive plastics and rubbers, which are used in the manufacturing of electronic devices such as smartphones, tablets, and computers. The increasing demand for these products has led to a rise in the demand for Conductive Carbon Black Additives.
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Key Players
The market is fairly consolidated with the presence of some regional and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the conductive carbon black additives market.
Cabot Corporation, Aditya Birla Carbons, Orion Engineered Carbons S.A., Tokai Carbon, Imerys Group, Asbury Carbons
Regional Analysis
In terms of regions, Asia-Pacific is expected to remain the largest market for conductive carbon black additives during the forecast period, propelled by China. The country accounts for a very high share of the world’s carbon black capacity, production, and consumption.
North America and Europe are also likely to create sizeable opportunities in the coming five years, driven by an expected rebound in vehicle production coupled with a paradigm shift from ICE to electric vehicles, which, in turn, is creating an opportunity pool for conductive carbon black additive stakeholders.
In conclusion, the Conductive Carbon Black Additives market is expected to continue to grow in the coming years due to the increasing demand from the electronics and automotive industries. However, the industry will need to address the challenges associated with raw material costs and environmental regulations to ensure sustained growth.