New York, NY -- (SBWIRE) -- 10/18/2016 -- On the basis of application, the market has been segmented into plastics, battery electrodes, rubber, paint and coatings and others. The plastics sub-segment is estimated to account for over 25% share of the global conductive carbon black market by the end of 2015, and is expected to expand at a significant CAGR similar to that projected for the global conductive carbon black market over the forecast period. Furthermore, the paints and coatings segment is expected to be dominant among the six sub-segments, accounting for 28.1% share of the global conductive carbon black market by the end of 2015. The paints and coatings segment in the conductive carbon black market is projected to expand at the highest CAGR among other applications, and also at a CAGR higher than the global conductive carbon black market.
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Growth of the global conductive carbon black market is mainly driven by the rising impetus from the plastics industry and the expanding applications of conductive carbon black in various industries. Also, the property of conductive carbon black to impart desired conductivity at low concentrations distinguishes it from conventional carbon black and, thus,is expected to encourage its adoption in wider range of applications and products in the near future. Conductive carbon blacks are specialty materials widely used in non-rubber applications, such as printing inks, fibres, pigments, wires and cables to name a few. This factor ensures robust demand for conductive carbon blacks over the forecast period. Currently, tyre companies are engaged in increasing durability and performance of tyres, while at the same time, focusing on enhancing their quality. Companies are increasingly focusing on R&D to capitalize on the various properties of specialty or conductive carbon blacks, in order to enhance the average life of tyres.
The global conductive carbon black market is consolidated with a few major players and the trend is expected to continue over the next five to eight years. This is attributed to high production costs, capital investments and fairly capital intensive nature of the business, as raw material for conductive carbon black is fossil fuel. Carbon black manufacturing companies are engaged in the conversion of their carbon black production lines to specialty carbon blacks. The objective of this shift is to take advantage of higher profit margins and broader application scope offered by specialty carbon blacks. Industry players are gradually shifting towards emerging economies such as Brazil, China, India and Korea to set up new production facilities. The objective of this move is to reap the benefits obtained through alliances with players in the domestic market and to capitalize on low labour costs in these regions. Also, the local or domestic production plants ensure a strong regional presence and reduce transportation costs.
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This report covers trends driving each segment and respective sub-segments and offers analysis and insights on the potential of the conductive carbon black market in specific regions. Asia-Pacific is expected to dominate the conductive carbon black market with over 40% market share by the end of 2015 and is anticipated to remain dominant till the end of 2021. North America and Europe collectively accounted for over 44% of the total conductive carbon black market share in 2015. Among all the regions, Asia Pacific is anticipated to expand at the highest CAGR, followed by Latin America, between 2015 and 2021.