In the historic year 2017, global advanced carbon material market size accounted for USD 6.33 Billion owing to the rising demand for carbon fiber reinforced plastic in automotive and construction sector.
The most critical constituent responsible for the economic growth of any country is the automotive industry as it subsidizes GDP. As the global economy is setting up progressively, the automotive sector is experiencing incremental growth in the production of cars. With the growth in the automotive vehicles on road, there is an increase in the consumption of fuel. As per the transportation statistics bureau recorded in the year 2016, fuel consumption in motor vehicles in the U.S reached about 176,892 Million gallons. Thus, due to the increasing fuel consumption, rules of government have become strict. Therefore, automobile manufacturers are increasingly focusing on lessening the physical weight of the vehicle because of which the demand of carbon fiber has augmented. An economy of fuel has increased because of the use of carbon fiber. On the other hand, expensiveness has restricted the use of carbon fibers to the effective performance of vehicles.
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Graphene, carbon fibers, carbon nanotubes, carbon foams and structural graphite are frequently used engineering materials on the basis of displaying superior properties involving high tensile strength, excellent stiffness, tolerance of good temperature and low thermal expansion. A carbon nanotube is projected to be the most developing segment in advanced carbon materials market, with the growth in volume at a CAGR of about 9% during the forecast period. Carbon Nanotube has developed as the most important type of nanomaterials with a terrific capability to catalyze the automotive industry. Extraordinary high thermal conductivity and electrical conductivity, diameters of about 100nm and ratio have considered it as the ideal material for various electronic devices. Even, semiconducting and unique conducting properties of nanotubes has increased the demand for carbon nanotubes in the applications like interconnects, CNT-FETs memory devices act as a substitute for silicon devices.
The global advanced carbon material market trends are the automotive light-weighting important across the globe. It is presumed that approximately a quarter of emissions of greenhouse gas are related to vehicles of road transportation and these factors are leading to the stringent environmental rules for vehicle emissions. By decreasing the weight of the vehicle, the consumption of fuel can be reduced. Carbon Fiber Reinforced Plastic (CFRP) is the constituent manufactured by OEM across Europe are integrating with designs of product. For example, a part of Volkswagen AG, Porsche currently announced the CRPF wheel in advanced carbon material market. Zoltek declared the enlargement of the facility of carbon fiber in Hungary due to the increase in the material from the automotive industry.
Manufacturers involved in the development of advanced carbon materials market are Toho Tenax Co.Ltd, Toray Industries, Graphenea, Zoltek, Mitsubishi Rayon and Showa Denko.
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Key segments of the global advanced materials market
Product Overview, 2015-2025 (Tons) (USD Million)
- Carbon Fibers
- Structural graphite
- Carbon Foams
Application Overview, 2015-2025 (Tons) (USD Million)
- Aerospace & Defence
Regional Overview, 2015-2025 (Tons) (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East and Africa
- Rest of MEA
Some Points from Table of Content:
1. Executive Summary
2. Research Methodology
3. Market Outlook
4. Market Overview, By Product
5. Market Overview, By Application
6. Market Overview, By Region
7. Competitive Landscape
8. Company Profiles
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