Advanced carbon materials have excellent thermal stability and mechanical property such as tensile strength than ordinary materials. Graphene, carbon fibers, carbon foams structural graphite, and nanotubes are majorly used advanced carbon materials as engineering materials. Rising focus toward lightweight composites from the automotive and aviation industry and increasing demand of carbon fiber-reinforced plastic in the construction industry is anticipated to drive the global market. However, wastage in the manufacturing of finished products and high associated with cost of carbon fiber composites are projected to hinder the growth of the market during the forecast period.
Global Advanced Carbon Materials Market: Segmentation
The global advanced carbon materials market can be segmented based on product, application and region. In terms of product , the advanced carbon materials market can be divided into carbon fibers, special graphite, carbon nanotubes, grapheme, carbon foams (includes carbon nanofoams) and others such as fullerenes, diamond-like carbon (dlc), nanocrystalline and diamond (ncd). Carbon fibers is a major product segment of global advanced carbon materials market owing to its high consumption in end use industries such as automotive, construction, electronics and energy applications as manufacturing composites. Moreover, the carbon fiber application in aerospace manufacturing industry is being popular due to rising concern of galvanic corrosion of aluminum in aerospace applications. This in turn, is projected to drive the advanced carbon materials market during the forecast period.
Based on application, aerospace & defense, electronics, sports, automotive, construction, and energy. Aerospace & defense is a application key segment of the global advanced carbon materials market. The innovative product design of flexible integrated circuits suitable for high temperature operations in high speed military aero planes is driving the demand of aerospace & defense advanced carbon materials. Furthermore, the focus on light weight aircraft manufacturing has resulted in to design of composite derived wing boxes. The material requirement of these light weight systems are augmenting the demand of advanced carbon materials.
Automotive application of advanced carbon materials is anticipated to experience significant growth during the forecast period. Increasing automotive manufacturing output in emerging economies such as India, China and Mexico is projected to fuel the advanced carbon materials market as the regulations initiatives to promote energy efficient vehicles is resulting into rise of usage of lightweight materials in the design. This in turn augmenting the demand of advanced carbon materials as fillers in the application.
Global Advanced Carbon Materials Market: Regional Outlook
Based on region, the global advanced carbon materials market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe accounts for a large share in the global advanced carbon materials market. The region has well established aerospace manufacturing industry with the key aerospace manufacturers operating the region such as Bell Helicopters, Augusta Westland, Boeing, etc. The ease of accessibility to consumable products for aerospace manufacturing has attributed to significant impact on Europe advanced carbon materials market. Asia Pacific region is anticipated to exhibit rapid growth during the forecast period. Governmental initiatives by government of China to develop energy efficient automotive systems are projected to augment the demand of light weight and durable materials. This, in turn is estimated to fuel the Asia Pacific advanced carbon materials market.
Global Advanced Carbon Materials Market: Competitive Landscape
Various key players in the global advanced carbon materials market tend to gain competitive advantage by means of product innovation in the field of light weight and durable material. Key players operating in the global advanced carbon materials market include Hexcel, Zoltek, Arkema, Nippon Graphite Fiber Corporation., Cnano Technology, ANAORI CARBON Co., Ltd. Grupo, Antolin Grupo, Graphenano, CVD Equipment Corporation, Haydale Graphene Industries PLC, Showa Denko K.K., Mitsubishi Chemical Carbon Fiber and Composites, Inc., company name and others.