Dallas,Texas, April 23, 2019 (GLOBE NEWSWIRE) -- The growing trend of vehicle miniaturization and application of lightweight carbon composites among multiple industries to provide numerous growth opportunities to the global advanced carbon materials market by 2025
The global advanced carbon materials market is anticipated to witness significant growth, increasing at a CAGR of 9.0% during the forecast period. The global market held a valuation of USD 6.89 billion in 2018.
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Global advanced carbon materials market report provides a widespread analysis of the penetration of carbon products into various key applications. Advanced carbon materials industry report provides a comprehensive analysis of the current and projected market demand and projections for the period of 2015 to 2025. Global advanced carbon material market trends have been analyzed based on the extensive value chain of the carbon market and its surging applications in different end-use industries such as aerospace, automotive and construction varying across different geographies. The report spotlights the historic trends from 2015 to 2017, the base year 2018, and market forecast from 2019 to 2025. Additionally, market estimates for the key segments such as by product and application have been provided at the global and country level. Furthermore, the report provides an in-depth analysis of the market competition along with company profiles of leading global and local manufacturers.
The “Global Advanced Carbon Material Market Size 2017 by Product (Carbon Fibers, Structural graphite, CNT, Graphene and Carbon Foams), by Applications (Aerospace & Defence, Energy, Electronics, Sports, Automotive, Construction and Others), Region (US, Canada, France, UK, Germany, Ret of Europe, Japan, China, India, Rest of APAC, Brazil, Rest of Latin America, GCC, Rest of MEA) and Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
Based on the product segments of the market, the carbon foams segment value reached USD 615 million approximately in 2018 and is further expected to rise with a 4.0% CAGR from 2019 to 2025. Carbon foams beneficial properties such as chemical inertness, resistivity to ultra-high temperatures and superior electrical conductivity has made it a breakthrough material of use in aircraft and marine industries. Also, a low coefficient of thermal expansion of carbon foam makes it an economical option to traditional superalloys used for molding dissimilar metals in aerospace industries. Currently, lightweight materials are also being heavily focused on the development of ship interior panels, aircraft assemblies, non-structural bulkheads, and impact absorbing structures for ship topside structure. Growth in industrial applications is the prime factor behind the surging need for carbon materials and this is expected to drive the growth of advanced carbon materials market.
As the operational efficiency across several manufacturing industries is increasing, the demand for advanced materials is rising. In order to achieve high throughput and better efficiency, advanced composite materials are designed to suffice the demand for stronger, high-temperature tolerance materials. As the manufacturers upgrade their operations and products, more number of manufacturers are opting to replace existing aluminum, wood, plastic parts with advanced composites to extend their service life and lower the operating expenses.
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Chemical manufacturing, glass processing and marine structures are examples of some of the industries that has surged the advanced carbon material market size. By application, the automotive industry is bound to witness a fast-paced growth, rising at slightly higher than10% CAGR between 2019 and 2025. These composites have great potential in the automotive industry as its usage can reduce weight significantly thereby making the vehicle more fuel efficient. Increasing stringent regulations regarding vehicle emissions have further compelled the manufacturers to reduce vehicle weight.
North America has one of the oldest aircraft establishment bases since the 1900s and therefore, this region enjoys the presence of major players and dominance of the global aviation industry. This region accounted for over 25% of the global advanced carbon materials market share in 2018. A surge in tourist traffic across the globe has increased the demand for commercial aircraft in this region. This has significantly ramped up the need for carbon materials and its composites in the aircraft body. Also, technological innovations which demand the need for lightweight strong products is predicted to surge the North American advanced carbon material market size.
Some of the key players operating in the market include Arkema S.A., Zoltek, Mitsubishi Rayon, Toray Industries, Graphenea, Showa Denko K.K., and Toho Tenax Co. Ltd.
Major points from Table of Contents:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Market Overview, By Product
Chapter 5. Market Overview, By Application
Chapter 6. Market Overview, By Region
Chapter 7. Competitive Landscape
Chapter 8. Company Profiles
Continued…
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