Electrically Conductive Additives Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028

Market Highlights

Electrically conductive additives (ECAs) or fillers are conductive materials, which are added to other base materials, such as polymers and elastomers, to impart a specific level of electrical conductivity on the latter. Increasing demand for EMI shielding due to the rising applications of electronic components in various end-use industries along with emerging technologies such as 5G network, IoT, and advanced driver assistance. It is expected that additive-based electro-conductive materials can replace several traditional products in the market. For instance, electrically conductive adhesive is gradually replacing lead-based solders. Silver nanowire-based conductive ink is considered a good alternative to ITO for applications in foldable and flexible electronics. Similarly, conductive plastics are getting preferred over metals for EMI shielding. ECA is used across industries such as automotive, electrical & electronics, aerospace & defense, industrial, and consumer goods.

The pandemic could not cause a ruffle in the electrically conductive additives market, a mere 1% decline in the ECA 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 ECAs in li-ion batteries is likely to give an impetus to the demand for ECAs. Overall, the electrically conductive additives market is likely to grow at a magnificent CAGR of 7.1%, in the long run, to reach US$ 12.3 Billion in 2028.

Recent Product Developments:

• Excellent dispersibility and high conductivity at lower loading are the indispensable focus areas of the leading players while product developments
• Cabot launched LITX® 93 conductive carbon additives, which possess excellent dispersibility and conductive particle morphology and ultimately enable high energy density and high-rate charge-discharge performance in lithium-ion batteries
• ENERMAX™ CNT additives, launched by Cabot, own a high aspect ratio, which reduces the total loading of additives without compromising the conductivity of electrodes
• Conductex-i and Conductex-e series of conductive carbon additives, launched by Birla Carbon, enable customization in its formulation and performance

Recent Market JVs and Acquisitions: High focus on inorganic growth

• 2018-19: Orion Engineered Carbon acquired SN2A
• 2018-19: Tokai Carbon acquired Tokai Carbon Korea Co., Ltd
• 2018-19: Cabot acquired NSCC Carbon (Jiangsu)
• 2018-19: Tokai Carbon acquired Sid Richardson Carbon
• 2020: Cabot acquired Shenzhen Sanshun (SUSN)
• 2021-22: DK Electronic Materials agreed to acquire Jiangsu Suote Electronic Materials
• 2022: Cabot acquired Tokai Carbon (Tianjin facility)
• 2023: Showa Denko K.K. and Showa Denko Materials merged to form Resonac Holdings Corp. and Resonac Corp

Market Segment Analysis

Based on the material type, the electrically conductive additives market is segmented into carbon black, graphite, CNT, CNF, graphene, silver, stainless steel, nickel powder, copper powder, and others. In terms of value, silver is expected to remain the largest material type in the market, whereas in terms of volume, carbon black remains at the forefront during the forecast period. Electrically conductivity applications account for < 1% of the carbon black market. Unlike other carbon additives, where there is a sheer dominance of electrical conductivity, in graphite, thermal conductivity is dominant. Silver is a relatively small market in terms of consumption; however, the exorbitantly high price of silver clearly makes it at the top of the market in terms of value-wise market.

Based on the application type, the market is segmented into plastics/compounds, adhesives/sealants, coatings, inks, elastomers, and energy storage. In terms of value, the inks segment is expected to remain dominant, whereas energy storage is anticipated to be the fastest-growing application type in the market during the forecast period. Energy storage is likely to offer winning opportunities during the forecast period. The segment is anticipated to mark a double-digit growth, in terms of both, value and volume, during 2023-2028.

In terms of regions, Asia-Pacific is expected to remain the largest market for electrically conductive additives during the forecast period, propelled by China. There exists a high manufacturing footprint in almost all the major markets such as automotive, industrial, E&E, and consumer goods, in the country.

North America and Europe are also likely to create sizeable opportunities in the coming five years, driven by an expected rebound in vehicle production which is anticipated to create a huge demand for ECAs in the automotive industry.

Key Players

The market is fairly populated with the presence of several major 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 electrically conductive additives market. There are distinct players in each material family.

Carbon Family

• Cabot Corporation
• Aditya Birla Carbons
• Orion Engineered Carbons S.A
• Tokai Carbon
• Imerys Group
• Asbury Carbons

Silver Family

• Dowa Electronics Co., Ltd
• Tanaka Holdings, Co., Ltd
• Ames Goldsmith Corporations

Others

• Bekaert N.V
• Ametek, Inc

Research Methodology

This strategic assessment report provides a comprehensive analysis that reflects today’s electrically conductive additives market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with the publisher's internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. The publisher conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

The electrically conductive additives market is segmented into the following categories.

Electrically Conductive Additives Market, by Material Type

Carbon Family

• (Type Analysis: Carbon Black, Graphite, CNT, CNF, and Graphene)
• (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Silver Family

• [Type Analysis: Non-nano and Nano (Nanoparticles, Nanowires, and Others)]
• (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Others

• (Type Analysis: Stainless Steel and Others)
• (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Electrically Conductive Additives Market, by Application Type

• Plastics/Compounds (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Adhesives/Sealants (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Inks (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Elastomers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Energy Storage (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Electrically Conductive Additives Market, by End-Use Industry Type

• Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Consumer Goods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Electrically Conductive Additives Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil and Others)