Advanced Carbon Materials Market: Current Analysis and Forecast (2023-2030)

Report Description

The global advanced carbon materials market was valued at USD 5 billion in 2022, growing at a CAGR of 8% during the forecast period from 2023-2030 to reach USD   million by 2030. Carbon fiber, carbon nanotube (CNT), graphene, structural graphite and carbon foam are most commonly used due to their excellent properties such as good stiffness, high tensile strength, low thermal expansion and good temperature resistance processing material. Increasing demand of carbon composite and reinforced plastics materials owing to increasing demand of high-performance materials from a large base of industries like aerospace & defence, automotive, and transportation is propelling the demand of advanced carbon materials. For instance, Aircrafts like Boeing 787 and Airbus A350 have been largely made of the material mix of carbon fibers and polymer resins. Further, Boeing 787 Dreamliner passenger plane is composed of 50% composite material by weight, with most of the composite material being carbon fiber laminate or carbon fiber sandwich. In addition, the automotive sector is increasingly utilizing carbon fiber to reduce the overall weight of vehicle resulting in more efficiency and helps in reducing carbon emission. For instance, BMW uses carbon fiber composites in its 7-series for the manufacturing of roof elements and supporting pillars with the intention of lowering the car’s center of gravity. The Alfa Romeo 4C, on the other hand, has a completely carbon fiber chassis, which cuts the weight of vehicle down to just 2,500lbs. Apart, from carbon fiber, demand for other products like graphene is increasing owing to its properties like 200 times stronger than steel and weighing only 0.77 milligrams per square meter.

Hexcel Corporation; Mitsubishi Chemical Carbon Fiber and Composites Inc.; Resonac Holdings Corporation; Graphite India Ltd.; SGL Carbon; Zoltek Corporation; Nippon Graphite Fiber Co., Ltd; Arkema; TEIJIN LIMITED; GrafTech International are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst type, the carbon fiber category is expected to witness considerable CAGR during the forecast period”

Based on type, the market is categorized into carbon fiber, isotropic graphite, graphene, carbon nanotube, carbon foam, and others. Among these, carbon fiber held the significant market share owing to its increasing usage in industries like automotive & transportation, aerospace & defense, infrastructure, and electronics. Due to its lightweight and rigid properties automotive OEMs are increasingly using it in vehicles. However, due to its high cost, currently it is used in high end vehicles mainly. But with the advancement in technology and lowering of cost, it is expected to be used in all types of vehicles. Thus, boosting the market of carbon fiber.

“Amongst end user, the automotive and aerospace & defense category is expected to witness considerable CAGR during the forecast period”

Based on end user, the market is categorized into automotive, aerospace & defense, electronics, metallurgy, energy, construction, and others. Among these, automotive and aerospace & defense are among the largest consumers of advanced carbon materials. Increasing demand for high strength materials from defense sector, shifting trend towards lightweight aircrafts and automobiles, and growing demand of final products resulting in the increasing demand of materials used in these industries which eventually increasing the market of advanced carbon materials.

Advanced Carbon Materials Market Report Coverage

 “Asia Pacific to witness significant growth high CAGR during the forecast period”

The Asia Pacific market is expected to register highest growth rate in the forecast period due to regulatory trends of increasing energy production from renewable sources such as wind and solar in China, coupled with the implementation of the Chinese government’s “Guideline Document 625”, are expected to open up new market opportunities during the forecast period of 2023-2030.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

Global advanced carbon materials market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Global Advanced Carbon Materials Market Analysis (2022-2028)

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global advanced carbon materials market were the three major steps undertaken to create and analyze the adoption of advanced carbon materials in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global advanced carbon materials market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the advanced carbon materials market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the advanced carbon materials market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the type and end user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Increasing demand of carbon composite and reinforced plastics materials globally. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the advanced carbon materials market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global advanced carbon materials market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the advanced carbon materials market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global advanced carbon materials market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global advanced carbon materials market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and end user in the global advanced carbon materials market.

The main objective of the Global Advanced Carbon Materials Market Study

The current & future market trends of the global advanced carbon materials market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the advanced carbon materials market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type and end user.
• Define and analysis of the regulatory framework for the advanced carbon materials market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the advanced carbon materials market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
• Company profiles of the advanced carbon materials market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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