Electrically Conductive Additives Market | Strategic Assessment and Competitive Analysis

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Report Summary

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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 Segments' Analysis

Segmentations	List of Sub-Segments	Dominant and Fastest-Growing Segments (volume)
Material-Type Analysis	Carbon Black, Graphite, CNT, Graphene, CNF, Silver, Stainless Steel, Copper Powder, Nickel Powder, and Others	In terms of additive types, carbon black remained the most preferred type of electrically conductive additive.
Application-Type Analysis	Plastics/Compounds, Adhesives/Sealants, Coatings, Inks, Elastomers, and Energy Storage	In terms of application, plastics remained the biggest demand generator for ECAs.
End-Use Industry Type Analysis	Automotive, Aerospace & Defense, Electrical & Electronics, Industrial, Consumer Goods, and Others	In terms of end-use industry types, the automotive industry consumed the largest amount of ECAs. In the automotive industry, ECAs are used for fuel hoses, batteries, different parts of the fuel supply system, cables & connectors, electrostatic painting, etc.
Regional Analysis	North America, Europe, Asia-Pacific, and Rest of the World	Coming to regional dynamics, Asia-Pacific remained the largest market for ECAs.

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, from Stratview Research, 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 Stratview Research’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. We 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)

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Company Profiling

Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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What would be the growth of the market in the coming five years?

The electrically conductive additives market is estimated to grow at a healthy CAGR of 7.1% by 2028, driven by increasing production of EVs (li-ion batteries), increasing acceptance of conductive additives, increasing solar PV installations, rising demand for printed/flexible electronics, and increasing demand for reinforced compounds.

Who are the key players in the market?

Cabot Corporation, Aditya Birla Carbons, Orion Engineered Carbons, S.A., Tokai Carbon, and Imerys Group in the carbon family and Dowa Electronics, Co., Ltd., Tanaka Holdings Co., Ltd., and Ames Goldsmith in the silver family.

Which region is estimated to be dominant in the market in the coming years?

Asia-Pacific is estimated to remain dominant in the electrically conductive additives market in the foreseeable future. The key economies driving the region’s demand for EACs are China and Japan.

Which region is estimated to grow at the fastest pace in the market in the coming years?

North America is estimated to remain the fastest-growing market for electrically conductive additives in the foreseeable future, driven by an expected increase in the penetration of EVs in the region’s automotive market and the strong presence of key players, such as Cabot Corporation and Asbury Carbons, in the USA.

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Electrically Conductive Additives Market Report