Where the use of electrically conductive plastic compounds is required, conductive carbon black is the preferred material. With steady growth forecast for the global plastic additives industry, the demand for conductive plastic compounds is also expected to move upward. This translates to a positive forecast for the global conductive carbon black market. According to a recent study by Persistence Market Research (PMR), the global conductive carbon black market stood at US$98.7 Mn in terms of value in 2014. When expressed in terms of volume, PMR states that the global conductive carbon black market approximated 64.4 thousand tons in 2014. By value, the global market is poised to report a CAGR of 6.8% between 2015 and 2021, whereas by volume it will log a 6.0% CAGR during the same period.
Which Industry will Influence the Global Conductive Carbon Black Market the most?
The use of conductive carbon black is expected to be the highest in plastic additives. Several research activities are afoot to improve the functional performance of plastics with the ultimate aim of extending their applications to newer, more innovative areas.
The global plastic additives industry is expected to report a growth rate of 4% to 5% between 2015 and 2021. With the outlook of the global plastic additives industry looking positive, companies in the conductive carbon black market expect continuous demand from the plastic additives industry for conductive carbon black.
Several tire manufacturers, especially those with a global presence, are currently engaged in the development of high-performance tires that offer exceptional durability. Many of these projects are using conductive carbon black, consequently fuelling the growth of the global conductive carbon black market.
What are the Predictions for the Parent Market of Conductive Carbon Black?
Carbon black is the parent market of conductive carbon black. The former is the pure elemental form of carbon, and is also among the most widely produced industrial chemicals in the world. There are several industrial applications of carbon black, which include pigment manufacturing, printing inks, plastic manufacturing, and other applications where enhancing electrical conductivity is required.
Market analysts predict that the global carbon black market will rise at a steady rate, a factor that will prove favorable for the growth of the conductive carbon black market as well. PMR analysts state that the global market for carbon black had a valuation of US$ 8,176 Mn in 2014. Assessed on the basis of production volume, the global carbon black market stood at 11.7 Mn tons in 2014. By 2020, the global carbon black market is expected to report revenue to the tune of US$11.3 Bn, which translates to a 5.5% CAGR from 2014–2020.
Although the global conductive carbon black market accounts for a meager 1% of the entire carbon black market (in terms of volume), the former is expected to report a healthy rate of growth.
Which Regions will be Most Lucrative for Investments?
According to PMR analysts, the Asia Pacific region will hold several profitable opportunities for the growth of the conductive carbon black market. The Asia Pacific conductive carbon black market is poised to report a growth rate between 5% and 8% from 2015 to 2021. North America will exhibit sustained demand, but will not show a very impressive growth rate. Interestingly, the Middle East and Africa will present several growth opportunities.