Carbon Black in Lead Acid Battery Market Growth Insights and Forecast By 2030

According to the Market Statsville Group (MSG), the global carbon black in lead-acid battery market size was valued at USD 448.3 million in 2021 and is projected to reach USD 642.4 million by 2030, growing at a CAGR of 4.6% from 2022 to 2030. A lead-acid battery is the first commercial use battery; the consumer base for these batteries is very wide across the globe. So, the demand for these batteries is also very high. Worldwide, many initiatives are taking place to reduce transport emissions. Moreover, communication technologies have grown significantly due to the technological advancements. Lead-acid batteries have emerged as a suitable source of energy in both cases to power commutation devices and transportation vehicles. Therefore, the global lead-acid battery market is growing at a stable pace across the globe.

On the other hand, with changes in the momentum of technology, new battery sources are emerging. The lithium-ion battery is considered a suitable alternative to a lead-acid battery. Therefore, the demand for a lead-acid battery is expected to be hampered, thereby, restraining the global market growth.

Global Carbon Black in Lead Acid Battery Market Definition

Carbon black with a selected combination of properties such as high conductivity, high surface area, and high hydrophobicity is used in the lead-acid batteries to provide improved charge acceptance, cyclability, and reduced hydrogen evolution.

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Global Carbon Black in Lead Acid Battery Market Dynamics

Drivers: Recyclability associated with lead-acid batteries over lithium-ion batteries

For portable devices, lithium-ion and nickel-based batteries are best suited. Whereas, conventional lead-acid batteries are preferable for wheeled mobility and stationary applications and are way more economical than lithium-ion and nickel-based batteries. When compared to new batteries, lead-acid batteries are weighted (the average car battery weight is 18.6 kg), which provides a larger mass to the battery. However, lead-acid batteries can supply greater flow of current, which is highly useful in the automotive industry's starting, lighting, and ignition (SLI) applications. This is a key factor responsible for the high demand for lead-acid batteries in automotive sector.

Moreover, flourishing automotive sales and increasing demand for UPS systems in residential and commercial sectors are anticipated to drive the demand for cost-competitive lead-acid batteries. Hence, the demand for carbon black will surge significantly from lead-acid battery manufacturers in the future.

Restraints: Emerging as well as existing alternatives available in the market

Though conventional lead-acid battery is a low-cost energy source, the global market is looking forward to new battery technologies to tap energy potential in the long run. This can be attributed to a couple of disadvantages associated with lead-acid battery. Long charging time, heavyweight, flammable gases while charging, and danger from chemical burns are few of them. Therefore, manufacturers are producing lithium-ion, nickel, and zinc-based batteries as a substitute for lead-acid batteries. The demand for these batteries is also increasing, where lead-acid battery fails to deliver optimum performance. Except for cost and recyclability factors, lithium[1]ion is proven to be better in terms of charging, capacity, and efficiency than a lead-acid battery. Lithium-ion batteries have been proven to have high energy density, which means greater energy can be stored. As a result, they provide more energy-efficient than its alternatives, notably lead-acid battery.

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Scope of the Global Carbon Black in Lead Acid Battery Market

The study categorizes the carbon black in lead-acid battery market based on battery type and grade on at the regional and global levels.

By Battery Type Outlook (Sales, USD Million, 2017-2030)

• Flooded Lead-Acid Battery
• Valve Regulated Lead-Acid (VRLA) Battery

By Grade Outlook (Sales, USD Million, 2017-2030)

• Specialty
• Conductive

By Region Outlook (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

The flooded lead-acid battery segment is projected to account for the largest market share, by battery type

Based on battery type, the global carbon black in lead-acid battery market is fragmented into the flooded lead-acid battery and valve-regulated lead-acid battery. In 2021, the flooded lead-acid battery segment was the highest contributor to the market, with a share of 80.1%. The flooded lead–acid battery has an electrolyte inside, which is free to move around in the battery encasement. When charged, the battery and lead plates react quickly to store electricity. These batteries are very cost-effective as well as long-lasting. However, the battery only reaches its potential lifespan if maintained properly, which comes with an additional task of checking the distilled water level every month to ensure its long lifespan.

Flooded lead-acid batteries are generally used in diesel-electric submarines to power electric motors and in nuclear submarines as an emergency power backup. The growing military tension between several nations such as China-U.S., China-Taiwan, India-China, and India-Pakistan has led to a surge in demand and production of submarines. Therefore, the demand for a flooded lead-acid battery is likely to surge from submarine vessel manufacturers across the world, which eventually will drive the demand for carbon black from flooded lead-acid battery manufacturers during the forecast period.

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Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global carbon black in lead-acid battery market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. The Asia Pacific is the fastest-growing region, followed by Europe. Both regions have respective CAGR of 5.0% and 4.8% during the forecast period (2022-2030). The countries that are key contributors to Asia-Pacific include China, Japan, South Korea, India, and Australia. Some of the factors that drive the growth of this region are high automotive production and sales, rapid industrialization, and a surge in demand for UPS systems. In Asia-Pacific, revenue for lead-acid batteries mainly comes from the automotive sector, owing to strong demand for passenger cars, coupled with growth in awareness and adoption of electric vehicles. The electric vehicles (EVs) segment in the automotive sector is developing significantly to reduce carbon footprints. The lead-acid battery is substantially used in electric vehicles, and its adoption rate is growing gradually.

Europe has been actively participating in mandatory renewable targets as part of the government’s legislative approach. 28 state members are legally bound to produce renewable energy from the European Union. This has led to increased demand for lead-acid batteries as a cleaner energy storage device, thereby contributing to the regional growth.

Key Market Players in the Global Carbon Black in Lead Acid Battery Market

Players have been adopting various product launch and acquisition strategies to gain higher share or for retaining leading positions in the market. Comprehensive analysis of recent developments and growth strategies of various companies help understand the growth strategies adopted by them and their effect on the market.

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The major player profiled in the carbon black in lead-acid battery market are:

• Imerys
• Cabot Corporation
• SGL Carbon SE
• Aditya Birla Group
• Orion Engineered Carbons S.A.
• Denka Company Limited
• Superior Graphite
• Shandong Jinkeli Power Sources Technology Co., Ltd.
• Continental Carbon Company
• Israzion Ltd.

Article source: https://article-realm.com/article/Finance/22072-Carbon-Black-in-Lead-Acid-Battery-Market-Growth-Insights-and-Forecast-By-2030.html