Advanced Carbon Materials Market is expected to grow at a CAGR of 8.2%

advanced carbon materials market

The advanced carbon materials market is anticipated to grow at a compound annual growth rate (CAGR) of 8.2% during the forecast period (2024-2029).

The carbon materials are used in the biochemical industry, whereas the advanced carbon material can be considered as the main supporting agent for the engineering and the scientific innovation landscape. The advanced carbon materials market has witnessed significant growth owing to multiple factors ranging from the increasing demand for carbon fiber-reinforced plastics (CFRP) in the construction sector to the growing technological advancements in carbon nanotubes. Advanced materials are being widely used in the construction sector, which is witnessing growth as they are essential in enhancing structural integrity and durability. As a result, this is further leading to their significant demand for advanced carbon materials like carbon nanotubes and carbon fibers.

The advanced carbon material offers various benefits to the electronics and engineering industry. These materials offer high stiffness, along with high tensile strength. The materials like carbon fiber also offer high-temperature tolerance. Several companies all across the globe are expanding their presence in the advanced carbon industry. In October 2023, Svante and BASF partnered together to expand their advanced carbon capture material portfolio. Similarly, Toray Industries Inc. also planned to expand its carbon fiber production facility in the European region in October 2023. The innovation and advancement in technologies in the advanced carbon material industry are also forecasted to boost the demand for the material forward. The Oak Ridge National Laboratory of the US, announced on November 2023, that their development in the new carbon material achieved a milestone in energy storage.

The advanced carbon materials market by product type is segmented into carbon fibers, special graphite, multi-walled carbon nanotubes, graphene, carbon foams (includes carbon nanofoams), and others (fullerenes, diamond-like carbon (DLC), nanocrystalline diamond (NCD)). Under the product type segment, the carbon fiber category in the advanced carbon material is estimated to attain the maximum share. Carbon fiber is used across multiple industries, like automotive, marine, aerospace, and defense. These materials are used to replace conventional materials and also provide increased strength, reducing the overall weight of the final product. The carbon fiber material offers high temperature tolerance, with lower thermal expansion. These are used in various high-speed automobiles, aircraft, and in various marine vessels.

The advanced carbon materials market by application is segmented into aerospace & defence, electronics, sports, automotive, construction, energy, and others. The aerospace and defense industry in the application segment of the advanced carbon material market is projected to grow at a higher rate. In the aerospace and defense industry, material like carbon fiber is used to provide the aircraft with an increased tensile strength, along with improved temperature tolerance. These materials are used in the development of various body panels, wings, and other primary structures.

Based on geography, the advanced carbon materials market is expanding significantly in the Asia Pacific region, as the region offers an advancement in the technological landscape. The region offers a few of the fastest-growing economies like India, China, and South Korea. The nations like India and China are also home to more than 2.8 billion population in the globe, increasing the need for innovation and engineering in the region. The region also offers a developing and expanding energy and electronics industry, the demand for which is growing significantly in the region. The governmental investment in further developing the electronics manufacturing landscape in the region is also estimated to push the market demand for advanced carbon materials in the region.

The research includes several key players from the advanced carbon materials market, such as Arkema, Toray Industries, Inc., CNano Technology, Anaori Carbon Co. Lt, Grupo Antolin Ingenieria S.A., Graphenano, Graphenea, CVD Equipment Corporation, Haydale Graphene Industries PLC, GrafTech International.

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This analytics report segments the advanced carbon materials market as follows:

  • By  Product Type
    • Carbon Fibers
    • Special Graphite
    • Multi-Walled Carbon Nanotubes
    • Graphene
    • Carbon Foams (Includes Carbon Nanofoams)
    • Others (Fullerenes, Diamond-like Carbon (DLC), Nanocrystalline Diamond (NCD))
  • By Application
    • Aerospace and Defence
    • Electronics
    • Sports
    • Automotive
    • Construction
    • Energy
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Rest of the Middle East and Africa
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Rest of Asia-Pacific