The global conductive carbon black market has experienced significant growth in recent years due to rising demand for lithium-ion batteries in applications ranging from consumer electronics to electric vehicles. Conductive carbon black is commonly used as a conductive additive in the cathodes of lithium-ion batteries to improve electrical conductivity. The ability of conductive carbon black to enhance battery performance at low loadings makes it well-suited for applications where size, weight and cost are critical considerations.
The Global conductive carbon black market is estimated to be valued at US$ 777.86 Mn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Key players operating in The Conductive Carbon Black include 63 Moons Technologies Limited, MetaQuotes Software Corp., Algo Trader AG, Refinitiv Ltd, and Virtu Financial Inc.
Key Takeaways
Key players: 63 Moons Technologies Limited is one of the leading providers of conductive carbon black. The company offers a wide range of carbon black grades to meet various conductivity and dispersibility requirements in batteries and coatings.
Growing demand: The demand for lithium-ion batteries from the automotive industry is expected to surge over the coming years owing to rapid adoption of electric vehicles globally. This growing demand from the automotive sector will propel the conductive carbon black market.
Global expansion: Major players are investing in expanding their production capacities to cater to the growing global demand. For instance, 63 Moons Technologies Limited commissioned a new manufacturing plant in Korea in 2023 to strengthen its presence in the Asia Pacific lithium-ion battery market.
Market key trends
One of the key trends in the conductive carbon black market is the development of graphene-enhanced products. Graphene possesses exceptional electrical and thermal conductivity and can be combined with carbon black to significantly boost battery performance. Leading manufacturers are investing in R&D to harness the potential of graphene and develop next-generation conductive additives with multi-fold improvements in conductivity, rate capabilities and cycling life. Such technological advancements are expected to revolutionize applications in electric mobility and stationary energy storage in the coming years.
Porter’s Analysis
Threat of new entrants: Conductive Carbon Black requires high initial investments in R&D and manufacturing facilities which acts as a barrier.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes however switching costs are moderately high.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of raw materials however supply contracts reduce negotiation power.
Threat of new substitutes: Alternatives like graphene are emerging but have lesser conductivity and higher costs making carbon black substitutes less attractive currently.
Competitive rivalry: The market is moderately competitive with companies differentiating based on product quality, innovation and customer service.
Geographical Regions
North America dominates the global conductive carbon black market in terms of value owing to high demand from lithium-ion batteries used in electric vehicles.
The Asia Pacific region is expected to be the fastest growing market for conductive carbon black between 2024-2031 driven by escalating demand from the automotive and battery industries especially in China and India.