A recent market study revealed by Future Market Insights on the carbon mold market incorporates global industry analysis for 2014-2018 and market opportunity assessment for the forecast period of 2019-2029. The market study reveals crucial insights and provides an in-depth market analysis for the historical as well as forecast period. As per the market assessment in the report, the global carbon mold market is estimated to witness noteworthy growth due to growing demand from aircraft and automotive manufacturing sectors.
The global carbon mold market was valuated at ~US$ 200 Mn in 2018 and is anticipated to grow with ~9% CAGR throughout the forecast period, 2019-2029.
Increasing government regulations are pressurizing OEMs to manufacture lightweight vehicles and aircrafts, leading to incorporation of lightweight materials such as carbon composites. According to FMI’s analysis, increasing demand for carbon composites from the automotive and aerospace industries along with rising adoption of carbon fiber parts and components in electric vehicles are expected to positively influence the carbon mold market.
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Growing environmental concerns have shifted the trend towards the adoption of renewable energy. Wind energy has revolutionized the renewable energy sector, owing to increasing government support. Carbon molds are used in the manufacturing of lightweight wind turbine blades from carbon fiber and carbon composites. Increasing installations of wind turbines and growing wind energy installation projects across the globe are estimated to propel the demand for carbon molds.
Opportunities Abound in East Asia and South Asia
East Asia and South Asia, led by China and India respectively, are likely to witness substantial growth in commercial as well as defense aerospace sectors. Increasing military budget will primarily affect the defense aircraft manufacturing activities in the region, and it is likely to lead to upsurge in the demand for carbon mold. Installation of wind turbines has increased significantly in recent years, especially in China, India, and ASEAN countries, which will continue to work to the advantage of the carbon mold manufacturers.
Increasing government regulations for the development of fuel-efficient vehicles and aircrafts in North America and Europe, have increased the demand for carbon composites. Predominance of automotive and aerospace industries and increasing adoption of carbon composites make North America and Europe prominent markets for carbon molds.
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Carbon Fiber to Remain a Prominent Material Choice
The global carbon mold market has been categorized on the basis of material, different types of mold, and application, along with regions.
- Based on material, carbon fiber is projected to remain the material of choice in the upcoming years, and subsequently hold a prominent share in the global carbon mold market throughout the forecast period.
- On the basis of mold, the female mold is estimated to hold more than half of the market share owing to its cost effectiveness.
- High application potential of carbon mold has been identified in aerospace & defense, followed by automotive & transportation. Increasing incorporation of carbon composites in automotive & aerospace industries is a prime factor responsible for the carbon mold market growth.
Carbon Mold Market: Manufacturer Insights
According to the FMI analysis, the global carbon mold market is heavily fragmented with local and regional players playing key roles. The global carbon mold market report sheds light on few of the key industry players in the global carbon mold market. Some of the examples of key players in the market are MDC Mould & Plastic Co., Ltd., DEXCRAFT, Xiamen Fengjin Mold Industry Co., Ltd., Composite Mouldings Ltd., and DC Composites, among others.
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The study finds that slowdown in automotive sales in the past few months has changed the situation. However, government spending, tax cuts, subsidies, and policies will continue to fuel the growth of the auto sector and carbon mold market. Also, increasing Do It Yourself (DIY) activities have given rise to small and medium scale start-ups.
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