Advanced Carbon Materials Market

Advanced Carbon Materials Market

Advanced carbon materials exhibits excellent mechanical and thermal stability properties. Advanced carbon materials like carbon fibers, Graphene, carbon foams, and nanotubes are commonly used as engineering materials. Increasing industrial applications is one primarily factor responsible for growth in the need for carbon materials and this is anticipated to drive growth for the advanced carbon materials market over the forecast period.Increasing focus toward lightweight composites from the automotive and aviation industry and rising demand of carbon fiber-reinforced plastic in the construction industry is the major factor driving growth of the global advanced carbon materials market. In addition, rising expenditure by automotive companies including Ford and Volkswagen towards the development of lightweight composites for inducing fuel economy products is projected to stimulate the demand for the global market over the forecast period. According to data published by The International Air Transport Association in 2018, fuel efficiency improved by more than 12% compared to 2010. 
Furthermore, companies including Hyperion, Showa Denko, and Cnano Technology have increased expenditure for the development of the products including CNT and graphene, this is anticipated to boost growth of the global market. However, high cost of advanced carbon materials and wastage in the production of finished products are likely to hinder the growth of the target market. Nevertheless, manufacturing of advanced carbon materials from bio-waste is anticipated to create lucrative growth opportunities for the global market.
The global advanced carbon materials market is segmented based of product type, application, and region.

https://prophecymarketinsights.com/market_insight/Global-Advanced-Carbon-Materials-Market-3668
Based on product type, the global advanced carbon materials market is segmented into carbon fibers, special graphite, carbon nanotubes, graphene, carbon foams, and others. In 2017, Special graphite product type segment dominated the global market, but carbon fibers, accounted to register the highest CAGR over the forecast period and is expected to dominate and become the largest product type, over the forecast period. Based on application, the target market is classified into aerospace & defense, electronics, sports, automotive, construction, and energy.  Construction application segment is expected to dominate the global market, owing to growing demand for CFRP from the construction industry.

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Based on region the global advanced carbon materials market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America projected for the largest share for the global market, with the U.S., which is the world’s largest and most powerful economy. This is mainly attributed due to rising demand for various advanced materials such as carbon nanotubes, carbon fibers, graphene, special graphite, carbon foams, nanocrystalline diamond (NCD), diamond-like-carbon (DLC), and fullerenes from different end-user industries. Europe accounts for the significant growth due to well established aerospace manufacturing industry in the region such as Boeing, Bell Helicopters, Augusta Westland. Asia-pacific is expected to exhibit rapid growth over the forecast period, owing to government initiatives to develop energy efficient automotive systems.
Key players operating in the global advanced carbon materials market includes Arkema Group, Arry International Group Limited, CFOAM LLC, FutureCarbon Materials GmbH, Formosa Plastics Corporation, Global Graphene Group, GrafTech International, Graphenea, Graphite India Limited, and Grupo Antolin. Technological advancements in the product as well as in manufacturing process, product launches, and strategic partnerships are some trends witnessed in the global market. For instance, on June 2019, Carbon, the world’s leading digital manufacturing company and Arkema, a pioneer in advanced liquid resins solutions through its Sartomer business line, has announced a strategic partnership through an investment in the startup’s capital. The partnership aims to deliver a new era of materials performance and supply chain model for Carbon’s manufacturing partners.
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