NEW YORK, April 25, 2022 (GLOBE NEWSWIRE) -- The global conductive carbon black market is anticipated to witness a growth rate of around 7% over the next ten years. Market growth is anticipated to be driven by rise in urbanization, growing construction sector, and growth in battery production.
Use of conductive carbon black in rubber, plastics, and paints & coatings has been prominently driving the market since the last decade. However, conductive carbon black’s expanding application coupled with increasing demand from the lithium-ion battery and dry cell industry is anticipated to create lucrative opportunity for market players over the coming years.
The COVID-19 pandemic negatively impacted global demand for conductive carbon black. Significant drop in the automotive, construction, and other industrial sectors hampered market growth in FY2020 and somewhat in FY2021. However, with increasing vaccination pace and decreasing COVID-19 cases coupled with government schemes, tax reliefs, and other initiatives to uplift the economy, the conductive carbon black is set to regain its path within the next few quarters.
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Key Takeaways from Market Study
- Global demand for conductive carbon black is forecasted to reach a value of US$ 869.8 Mn by the end of 2032.
- East Asia is anticipated to remain one of the key markets accounting for around 27% of the global market share.
- The battery electrode segment is anticipated to witness a CAGR of 7.8% over the decade.
- India is estimated to witness year-over-year growth of 6.7% in 2022.
- South Asia & Pacific to remain the fastest-growing regional market through 2032.
“Key market participants are focusing on strategic expansions to cope with increasing demand and achieve a more circular economic value chain,” says a Persistence Market Research analyst.
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Competitive Landscape
The global market for conductive carbon black has been identified as a moderately consolidated space, owing to which, leading companies account for more than half of the market share.
Some of the key conductive carbon black manufacturers included in the report are Cabot Corporation, Orion Engineered Carbon, Birla Carbon, Akzo Nobel N.V., Tokai Carbon Co. Ltd., Denka Company Ltd., Mitsubishi Chemical Corporation Ltd., Phillips Carbon Black Limited, and others. Key market participants are expected to maintain a competitive environment all over the world in the years ahead.
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More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a new market research report on the global conductive carbon black market that contains industry analysis of 2017–2021 and opportunity assessment for 2022–2032.
The report provides in-depth analysis of the market through two segments, namely, application and region. The report also provides supply and demand trends along with an overview of the parent market.
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