NEWARK, Del, Nov. 16, 2023 (GLOBE NEWSWIRE) -- The global carbon mold market size is anticipated to reach a valuation of US$ 304.21 million in 2023 and is projected to accumulate over US$ 694.18 million by 2033 while securing a CAGR of 8.6% during the forecast period.
Closed molding composites such as carbon molds offer numerous advantages over other composites, such as enhanced rigidity, superior electrical conductivity, better temperature performance, higher tensile strength, increased chemical resistance, and reduced weight. These exceptional qualities make them a preferred choice for aerospace and defense applications.
Compared to most woods and metals, composites are lightweight, making them highly attractive for various industries. Advanced composite materials have a long-standing history in the military and aerospace sectors. The military aviation field extensively utilizes composite materials in thermal, chemical, mechanical, and ballistic applications, with a specific focus on fiber-reinforced plastic composites.
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The demand for closed molding composites produced through compression molding is on the rise in various industries, including construction, transportation, and electrical & electronics. These composites are sought after for their superior surface polish and non-corrosive properties, which are essential in these industries. Additionally, composites serve as effective insulators due to their poor heat and cold conductivity. They are further employed in the building sector for panels, doors, and windows, providing additional protection against severe weather conditions.
The increasing popularity of renewable energy is driving the global demand for carbon molds, particularly in the wind energy industry during the forecast period. The growing need for long and lightweight wind turbine blades presents opportunities for the utilization of carbon fiber composites in this sector.
The widespread implementation of stringent environmental regulations in both developed and developing countries has led to a high adoption of environmentally friendly building materials. Carbon fibers and related composites are favored for their lightweight properties and improved fuel efficiency. Consequently, the luxury and sports car market is experiencing increased demand for activated carbon fibers.
Carbon fiber is extensively utilized in the automotive sector for the production of 3D-printed car parts. This filament enhances the rigidity and strength of the components, making them incredibly powerful. The incorporation of carbon fiber in 3D-printed items is anticipated to result in significantly lighter and more dimensionally stable parts, as the fiber helps prevent shrinking during the cooling process.
Key Takeaways from the Market Study
- The market in the United States is expected to expand at a CAGR of 8.5% during the forecast period.
- Germany is expected to account for over 25% market share of Europe by 2033.
- By material type, carbon fibers are expected to account for over 48% market share by end of the forecast period.
“Increasing demand for lightweight composite materials from the automotive industry is expected to drive the demand for carbon molds during the forecast period,” comments Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
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Competitive Landscape
To meet consumer demands effectively, major market players are collaborating closely with end users. Manufacturers are also offering design and consulting services to customers, aiming to enhance their market position both globally and regionally.
Some recent developments in the carbon Mold market are:
- In September 2022, Solvay unveiled LTM 350, an advanced epoxy prepreg carbon fiber tooling material aimed at providing substantial cost and time savings in the aerospace, industrial, automotive, and race car markets.
- In February 2021, Teijin Limited introduced the Tenax BM (beam series) and Tenax PW (power series) brands of carbon fiber intermediate materials, specifically designed for sports applications.
- In August 2022, the National Institute for Aviation Research (NIAR) at Wichita State University and Solvay joined forces to establish a manufacturing innovation center.
Key Companies Profiled
- MDC Mould & Plastic Co, Ltd
- DEXCRAFT
- Mouldbox
- Diversified Plastics, Inc.
- Xiamen Fengjin Mold Industry Co., Ltd.
- Composite Mouldings Ltd
- DC Composites
- MCT Carbon
- Curley Specialised Mouldings
- CF Composites
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global carbon mold market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the carbon mold market, the market is segmented on the basis of material type, mold type, application and region.
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Key Segments Profiled in the Carbon Mold Industry Survey
By Material Type:
- Carbon Fiber
- Graphite
- Others
By Mold Type:
- Male
- Female
By Application:
- Aerospace & Defense
- Auotmotive & Transportation
- Electronics & Semiconductor
- Energy
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
About the Chemicals & Materials Division at Future Market Insights
The chemical & materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Authors by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in the Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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