Advanced Carbon Materials Market worth US$ 42.4 Billion 2034 with a CAGR of 10.3%

Increasing focus toward lightweight composites from the automotive and aviation industry and rising demand of carbon fiber-reinforced plastic in the construction industry is the major factor driving growth of the global advanced carbon materials market. In addition, rising expenditure by automotive companies including Ford and Volkswagen towards the development of lightweight composites for inducing fuel economy products is projected to stimulate the demand for the global market over the forecast period. Advanced Carbon Materials Market Size accounted for US$ 17 Billion in 2024 and is estimated to be US$ 42.4 Billion by 2034 and is anticipated to register a CAGR of 10.3%.

The report "Advanced Carbon Materials Market, By Product Type (Carbon Fibers, Special Graphite, Carbon Nanotubes, Graphene, Carbon Foams, and Others), By Application (Aerospace & Defense, Electronics, Sports, Automotive, Construction, and Energy), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034"

Key Highlights:

• On June 2019, Carbon and Arkema has announced a strategic partnership through an investment in the startup’s capital. The partnership aims to deliver a new era of materials performance and supply chain model for Carbon’s manufacturing partners.
• On November 29, 2019, Graphenea launches highly flat monolayer graphene on copper thin film.

Key Market Insights from the report:        

Advanced Carbon Materials Market Size accounted for US$ 17 Billion in 2024 and is estimated to be US$ 42.4 Billion by 2030 and is anticipated to register a CAGR of 10.3%.The market report has been segmented on the basis of product type, application, and region.

• By product type, special graphite product type segment dominated the global market, but carbon fibers, accounted to register the highest CAGR over the forecast period and is expected to dominate and become the largest product type, over the forecast period.
• By application, construction application segment is expected to dominate the global market, owing to growing demand for CFRP from the construction industry.
• By region, North America projected for the largest share for the global market. his is mainly attributed due to rising demand for various advanced materials such as carbon nanotubes, carbon fibers, graphene, special graphite, carbon foams, nanocrystalline diamond (NCD), diamond-like-carbon (DLC), and fullerenes from different end-user industries.

The prominent player operating in the global advanced carbon materials market includes Arkema Group, Arry International Group Limited, CFOAM LLC, FutureCarbon Materials GmbH, Formosa Plastics Corporation, Global Graphene Group, GrafTech International, Graphenea, Graphite India Limited, and Grupo Antolin.

About Prophecy Market Insights

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

To know more

Contact Us:

Sales

Prophecy Market Insights

U.S: 1 860 531 2574

RoW: 91 7775049802

Email- sales@prophecymarketinsights.com

Website- www.prophecymarketinsights.com

Blog- www.prophecyjournals.com