Advanced Carbon Materials Market - Forecast(2024 - 2030)
Advanced Carbon Materials Market Overview
Advanced Carbon Materials market size is projected to reach US$7.9 billion by 2027, after growing at a CAGR of 5.8% during the forecast period 2022-2027. The growing demand for advanced carbon materials in the construction industry and the increasing emphasis on lightweight composites from the automotive industry are major factors driving the advanced carbon materials market. According to the International Organization of Motor Vehicle Manufacturers (OICA), global automotive production increased from 77,621,582 units in 2020 to 80,145,988 units in 2021. According to the United States Census Bureau, the total residential construction in the US increased from US$797.728 in May 2021 to US$947,272 in May 2022. The rapid growth of the construction industry has increased the demand for carbon nanotubes, fullerene, graphite, carbon fibers, diamond, graphene and more. This helped fuel the market growth. Several end-use industries in the Advanced Carbon Materials industry suffered negative effects of the novel coronavirus pandemic, which had a direct impact on the Advanced Carbon Materials market size in the year 2020.
Advanced Carbon Materials Market Report Coverage
The “Advanced Carbon
Materials Market Report – Forecast (2022-2027)” by IndustryARC, covers an
in-depth analysis of the following segments in the Advanced Carbon Materials industry.
Key Takeaways
- Europe dominates the Advanced Carbon Materials market, owing to the bolstering growth of the automotive industry in the region. According to the International Organization of Motor Vehicle Manufacturers (OICA), the production of heavy trucks increased from 236,328 units in 2020 to 308,300 units in 2021, an increase of 31% in Europe.
- Advanced Carbon Materials are
frequently used as engineering materials because of their superior qualities,
which include excellent rigidity, strong tensile strength, low thermal
expansion and good temperature resistance. These characteristics of advanced
carbon materials are anticipated to accelerate market expansion.
- Energy storage is in high
demand in various regions. As a result of this, the market is expanding. With the
increasing usage of Advanced Carbon Materials in wind turbine blades for
providing good tensile strength and enhanced durability, the industry is
expected to gain momentum in this application industry over the forecast period.
Advanced Carbon Materials Market Segment Analysis – by Product Type
The carbon fibers segment held a significant share in the Advanced
Carbon Materials market share in 2021 and is expected to grow at a CAGR of 6.3%
during the forecast period 2022-2027. This is owing to the various advantages that it
offers. Carbon fiber is a low-density material with a very high strength-to-weight
ratio. This implies that without getting bogged down like steel or aluminum,
carbon fiber is durable, making it suitable for applications such as
automobiles or airliners. In addition, carbon fiber-reinforced plastic is known
for its high tensile strength and is naturally resistant to oxidization, which
makes carbon fiber-reinforced plastic well suited for environments where it
might be exposed to salt water or corrosive chemical agents. All these
extensive characteristics of carbon fibers are the key factors boosting the
demand for carbon fibers during the forecast period.
Advanced Carbon Materials Market Segment Analysis – by End-use Industry
The aerospace segment held the largest share in the Advanced Carbon
Materials market share in 2021 and is expected to grow at a CAGR of 8.7%
during the forecast period 2022-2027. The market for advanced carbon materials
from aerospace & defense is influenced by the revolutionary product design
of compact integrated circuits suitable for high-temperature operations in
high-speed military airplanes. Also, the emphasis on the development of
lightweight aircraft has resulted in the creation of composite-derived wing
boxes. In the aerospace industry, advanced carbon materials are commonly used
to maximize performance and lower the weight of aircraft. Thus, all these
advantages associated with advanced carbon materials are the major factor
driving the demand for Advanced Carbon Materials in the aerospace industry
during the forecast period.
Advanced Carbon Materials Market Segment Analysis – by Geography
Europe held the largest share Advanced Carbon Materials market share of up to 37.4% in 2021, owing to the increasing demand for advanced carbon materials from the flourishing aerospace industry in the region. According to the International Trade Administration (ITA), in 2019, the German aerospace industry reported revenues of EUR 41 billion, representing a growth of 2.5% over 2018 (EUR 40 billion). According to the Boeing Commercial Market Outlook 2022–2041, Europe would require 8,550 new airplane deliveries during 2022-2041. Also, according to the International Air Transport Association (IATA), as of March 2022, European airlines are scheduled to receive 36% more aircraft deliveries in 2022 versus 2021. Thus, with the flourishing aerospace industry, the demand for advanced carbon materials would also subsequently increase, which is anticipated to drive the Advanced Carbon Materials market size in the European region during the forecast period.
Advanced Carbon Materials Market Drivers
Accelerating Automotive Production:
Advanced Carbon Materials are significantly
lighter than conventional materials. Therefore, the growing use of composite
structures for component production is evident. They reduce vehicle weight
and therefore ensure lower emissions of CO2. These lightweight materials and
components are used for example for body and chassis parts and also in battery
housings. According to the International Organization of Motor Vehicles
Manufacturers (OICA), the production of passenger cars increased from
55,834,456 units in 2020 to 57,054,295 units in 2021. According to the European
Automobile Manufacturer Association, South America car production grew by 11%
while US car production grew by 3.1% in 2021. Thus, increasing automotive
production would require more advanced carbon materials for manufacturing
lightweight automotive components, which would act as a driver for the Advanced Carbon Materials market during the forecast period.
Flourishing Electrical and Electronics Industry:
The remarkable ability of Advanced Carbon Materials to conduct
electricity, while dissipating or transmitting heat away from essential
components, makes it a perfect material for electronic applications such as
semiconductors, electrical motors and even modern battery manufacturing. Advanced
carbon materials are effective for electronic applications, specifically
electromagnetic interference (EMI) gaskets, resistive heating,
thermoelectric-energy generation and heat dissipation. According to the
Ministry of Industry and Information Technology, operating revenue for the
sector reached approximately 14.1 trillion yuan (roughly $2.2 trillion) in
2021, an increase of 14.7 percent from the previous year. Thus, with the
flourishing electrical & electronics sector, the demand for Advanced Carbon Materials would also eventually increase, which acts as a driver for the Advanced Carbon Materials market growth during the forecast period.
Advanced Carbon Materials Market Challenge
Health Risks Associated with Advanced Carbon Materials:
Advanced Carbon Materials such as carbon nanotubes are widely used
nowadays due to their ease of synthesizing when compared with other types of CNTs. This is due
to their impressive properties, such as high strength, diameter length ratio and more.
Carbon black particles can, however, irritate the lungs and cause coughing
while irritating the eyes, nose and throat when inhaled. However, the
particles can lie deep in their lungs when individuals are exposed to high
carbon black levels for several years, leading to bronchitis and ultimately a
chronic condition called obstructive pulmonary disease. Longer fibers of carbon
nanotubes may also find their way deep into the lungs, which can cause
mesothelioma cancer in the tissue lining the lung in the worst case. All these
health risks may restrain the Advanced Carbon Materials market.
Advanced Carbon Materials Industry Outlook
Technology launches,
acquisitions and R&D activities are key strategies adopted by players in
the Advanced Carbon Materials market. The top 10 companies in the Advanced
Carbon Materials market are:
- Hexcel
- Zoltek
- Mitsubishi Rayon
- Toray Industries
- Showa Denko K.K.
- Toho Tenax Co. Ltd.
- Arkema S.A.
- Graphenea
- Hanwha Chemical
- Nippon Graphite Fiber Corporation
Recent Developments
- In March 2021, Cabot Corporation launched a new ENERMAX™ 6 carbon nanotube (CNT) series. ENERMAX™ 6 carbon nanotubes are high-performance CNTs with a high aspect ratio.
- In February 2020, Zoltek Companies, Inc., announced that a portion of its carbon fiber manufacturing started using renewable energy.
- In July 2020, two German carbon fiber recycling firms, CFK Valley Stade Recycling GmbH & Co. KG and carboNXT GmbH (carboNXT), were acquired by Mitsubishi Chemical Corporation.
Relevant Reports
Report Code: CMR 0270
Report Code: CMR 0054
Report Code: CMR 0350
For more Chemicals and Materials Market reports, please click here
LIST OF TABLES
1.Global Market Categorization 1:Product Estimate Trend Analysis Market 2023-2030 ($M)1.1 And Trend Analysis For The Following Market 2023-2030 ($M) - Global Industry Research
1.1.1 Carbon Fiber Market 2023-2030 ($M)
1.1.2 Structural Graphite Market 2023-2030 ($M)
1.1.3 Carbon Nanotube Market 2023-2030 ($M)
1.1.4 Graphene Market 2023-2030 ($M)
1.1.5 Carbon Foam Market 2023-2030 ($M)
2.Global Market Categorization 2:Application Estimate Trend Analysis Market 2023-2030 ($M)
2.1 Aerospace Defense Market 2023-2030 ($M) - Global Industry Research
2.2 Energy Market 2023-2030 ($M) - Global Industry Research
2.3 Electronics Market 2023-2030 ($M) - Global Industry Research
2.4 Sport Market 2023-2030 ($M) - Global Industry Research
2.5 Automotive Market 2023-2030 ($M) - Global Industry Research
2.6 Construction Market 2023-2030 ($M) - Global Industry Research
3.Global Market Categorization 1:Product Estimate Trend Analysis Market 2023-2030 (Volume/Units)
3.1 And Trend Analysis For The Following Market 2023-2030 (Volume/Units) - Global Industry Research
3.1.1 Carbon Fiber Market 2023-2030 (Volume/Units)
3.1.2 Structural Graphite Market 2023-2030 (Volume/Units)
3.1.3 Carbon Nanotube Market 2023-2030 (Volume/Units)
3.1.4 Graphene Market 2023-2030 (Volume/Units)
3.1.5 Carbon Foam Market 2023-2030 (Volume/Units)
4.Global Market Categorization 2:Application Estimate Trend Analysis Market 2023-2030 (Volume/Units)
4.1 Aerospace Defense Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Energy Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Electronics Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Sport Market 2023-2030 (Volume/Units) - Global Industry Research
4.5 Automotive Market 2023-2030 (Volume/Units) - Global Industry Research
4.6 Construction Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Market Categorization 1:Product Estimate Trend Analysis Market 2023-2030 ($M)
5.1 And Trend Analysis For The Following Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Carbon Fiber Market 2023-2030 ($M)
5.1.2 Structural Graphite Market 2023-2030 ($M)
5.1.3 Carbon Nanotube Market 2023-2030 ($M)
5.1.4 Graphene Market 2023-2030 ($M)
5.1.5 Carbon Foam Market 2023-2030 ($M)
6.North America Market Categorization 2:Application Estimate Trend Analysis Market 2023-2030 ($M)
6.1 Aerospace Defense Market 2023-2030 ($M) - Regional Industry Research
6.2 Energy Market 2023-2030 ($M) - Regional Industry Research
6.3 Electronics Market 2023-2030 ($M) - Regional Industry Research
6.4 Sport Market 2023-2030 ($M) - Regional Industry Research
6.5 Automotive Market 2023-2030 ($M) - Regional Industry Research
6.6 Construction Market 2023-2030 ($M) - Regional Industry Research
7.South America Market Categorization 1:Product Estimate Trend Analysis Market 2023-2030 ($M)
7.1 And Trend Analysis For The Following Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Carbon Fiber Market 2023-2030 ($M)
7.1.2 Structural Graphite Market 2023-2030 ($M)
7.1.3 Carbon Nanotube Market 2023-2030 ($M)
7.1.4 Graphene Market 2023-2030 ($M)
7.1.5 Carbon Foam Market 2023-2030 ($M)
8.South America Market Categorization 2:Application Estimate Trend Analysis Market 2023-2030 ($M)
8.1 Aerospace Defense Market 2023-2030 ($M) - Regional Industry Research
8.2 Energy Market 2023-2030 ($M) - Regional Industry Research
8.3 Electronics Market 2023-2030 ($M) - Regional Industry Research
8.4 Sport Market 2023-2030 ($M) - Regional Industry Research
8.5 Automotive Market 2023-2030 ($M) - Regional Industry Research
8.6 Construction Market 2023-2030 ($M) - Regional Industry Research
9.Europe Market Categorization 1:Product Estimate Trend Analysis Market 2023-2030 ($M)
9.1 And Trend Analysis For The Following Market 2023-2030 ($M) - Regional Industry Research
9.1.1 Carbon Fiber Market 2023-2030 ($M)
9.1.2 Structural Graphite Market 2023-2030 ($M)
9.1.3 Carbon Nanotube Market 2023-2030 ($M)
9.1.4 Graphene Market 2023-2030 ($M)
9.1.5 Carbon Foam Market 2023-2030 ($M)
10.Europe Market Categorization 2:Application Estimate Trend Analysis Market 2023-2030 ($M)
10.1 Aerospace Defense Market 2023-2030 ($M) - Regional Industry Research
10.2 Energy Market 2023-2030 ($M) - Regional Industry Research
10.3 Electronics Market 2023-2030 ($M) - Regional Industry Research
10.4 Sport Market 2023-2030 ($M) - Regional Industry Research
10.5 Automotive Market 2023-2030 ($M) - Regional Industry Research
10.6 Construction Market 2023-2030 ($M) - Regional Industry Research
11.APAC Market Categorization 1:Product Estimate Trend Analysis Market 2023-2030 ($M)
11.1 And Trend Analysis For The Following Market 2023-2030 ($M) - Regional Industry Research
11.1.1 Carbon Fiber Market 2023-2030 ($M)
11.1.2 Structural Graphite Market 2023-2030 ($M)
11.1.3 Carbon Nanotube Market 2023-2030 ($M)
11.1.4 Graphene Market 2023-2030 ($M)
11.1.5 Carbon Foam Market 2023-2030 ($M)
12.APAC Market Categorization 2:Application Estimate Trend Analysis Market 2023-2030 ($M)
12.1 Aerospace Defense Market 2023-2030 ($M) - Regional Industry Research
12.2 Energy Market 2023-2030 ($M) - Regional Industry Research
12.3 Electronics Market 2023-2030 ($M) - Regional Industry Research
12.4 Sport Market 2023-2030 ($M) - Regional Industry Research
12.5 Automotive Market 2023-2030 ($M) - Regional Industry Research
12.6 Construction Market 2023-2030 ($M) - Regional Industry Research
13.MENA Market Categorization 1:Product Estimate Trend Analysis Market 2023-2030 ($M)
13.1 And Trend Analysis For The Following Market 2023-2030 ($M) - Regional Industry Research
13.1.1 Carbon Fiber Market 2023-2030 ($M)
13.1.2 Structural Graphite Market 2023-2030 ($M)
13.1.3 Carbon Nanotube Market 2023-2030 ($M)
13.1.4 Graphene Market 2023-2030 ($M)
13.1.5 Carbon Foam Market 2023-2030 ($M)
14.MENA Market Categorization 2:Application Estimate Trend Analysis Market 2023-2030 ($M)
14.1 Aerospace Defense Market 2023-2030 ($M) - Regional Industry Research
14.2 Energy Market 2023-2030 ($M) - Regional Industry Research
14.3 Electronics Market 2023-2030 ($M) - Regional Industry Research
14.4 Sport Market 2023-2030 ($M) - Regional Industry Research
14.5 Automotive Market 2023-2030 ($M) - Regional Industry Research
14.6 Construction Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Advanced Carbon Materials Market Revenue, 2023-2030 ($M)2.Canada Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
3.Mexico Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
4.Brazil Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
5.Argentina Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
6.Peru Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
7.Colombia Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
8.Chile Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
9.Rest of South America Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
10.UK Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
11.Germany Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
12.France Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
13.Italy Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
14.Spain Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
15.Rest of Europe Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
16.China Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
17.India Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
18.Japan Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
19.South Korea Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
20.South Africa Advanced Carbon Materials Market Revenue, 2023-2030 ($M)
21.North America Advanced Carbon Materials By Application
22.South America Advanced Carbon Materials By Application
23.Europe Advanced Carbon Materials By Application
24.APAC Advanced Carbon Materials By Application
25.MENA Advanced Carbon Materials By Application
26.Cnano Technology, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Anaori Carbon Co Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Grupo Antolin Ingenieria S A, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Graphenano, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Graphenea, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Cvd Equipment Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Haydale Graphene Industry Plc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Showa Denko K K, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Mitsubishi Rayon, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Hexcel, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Zoltek, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Arkema S A, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.Futurecarbon, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.Nanothinx S A, Sales /Revenue, 2015-2018 ($Mn/$Bn)
40.Nippon Graphite Fiber Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
41.Carbon Technology Co Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
42.Mersen Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
43.Toho Tenax Co Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
44.Toray Industry, Sales /Revenue, 2015-2018 ($Mn/$Bn)
45.Unidym Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
46.Hanwha Chemical Co Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
47.Arry International Group Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
48.Thomas Swan, Sales /Revenue, 2015-2018 ($Mn/$Bn)