Advanced Carbon Materials Market Size, Share & Trends Analysis Report By Product (Carbon Fibers, Carbon Nanotubes), By Application (Aerospace & Defence, Energy, Automotive), By Region, And Segment Forecasts, 2018 – 2028

Carbon fiber, carbon nanotubes (CNT), graphene, structural graphite, and carbon foams are majorly used engineering materials on account of showing advanced residences consisting of excellent stiffness, high tensile strength, low thermal expansion, and suitable temperature tolerance. The superior carbon substances marketplace is predicted to develop resulting from the aforementioned factors.

At a compound annual growth rate (CAGR) of 9.82%, the size of the advanced carbon materials market is anticipated to increase from USD 16.35 billion in 2023 to USD 26.17 billion by 2028.

COVID-19 Impact

Imports and exports of different goods globally have been affected by the COVID-19 pandemic outbreak. Import sanctions have been levied by different governments, which are greatly affecting the supplies. The advanced producers of carbon products often face problems such as delays in obtaining raw materials, which further contribute to delayed shipments to the consumer. Also, the quality of some raw materials has deteriorated significantly and shipment orders are seriously affected by the lack of vessel availability and blank sailing, which is having a major effect on the growth of the advanced carbon materials industry.  Also, since the industries which require advanced carbon materials for manufacturing products such as automotive and aviation are shut down, the demand for advanced carbon materials such as carbon nanotubes, diamond-like carbon, and graphite have disruptively fallen, which is limiting the advanced carbon materials market growth during the pandemic.

Based on application,

Aerospace & defense, electronics, sports, automotive, construction, and power. Aerospace & defense is an application key segment of the worldwide advanced carbon materials marketplace. The revolutionary product layout of flexible integrated circuits appropriate for excessive temperature operations in excessive velocity military airplanes is driving the demand for aerospace & defense advanced carbon substances. Furthermore, the focus on lightweight plane production has led to the layout of composite-derived wing boxes. The fabric requirement of those mild-weight systems is augmenting the demand for advanced carbon substances. Automotive application of advanced carbon substances is expected to experience significant growth for the duration of the forecast period. Increasing car production output in rising economies such as India, China, and Mexico is projected to fuel the advanced carbon materials marketplace because the policies projects to promote energy-efficient cars are ensuing into the upward thrust of the utilization of light-weight substances in the layout. This in turn augmenting the demand of advanced carbon substances as fillers in the utility.

Based on Region,

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.

Based on Technology,

The chemical vapor deposition (CVD) segment held the largest share in the advanced carbon materials market in 2020. Due to its high throughput, high purity, and low cost of operation, CVD has become the key method of film deposition for the semiconductor industry. CVD is also commonly used in optoelectronics applications, optical coatings, and coatings of wear-resistant parts, which often uses advanced carbon materials such as diamond-like carbon. CVD has many benefits over physical vapor deposition (PVD) approaches, such as greater evaporation and sputtering of molecular beams. CVD uses source materials that flow into the process chamber from external reservoirs and can be refilled without polluting the growth atmosphere. Furthermore, CVD does not require a high degree of vacuum and, in general, can process substrates in larger batches. Furthermore, during the processing of advanced carbon materials, the CVD approach is more forgiving in terms of tolerance for precision in process conditions. As a result, during the forecast period, these are the major factors driving the chemical vapor deposition segment's development.

Carbon fiber-reinforced plastics (CFRP) are considerably lighter than traditional substances. Therefore, the growing use of composite structures for component manufacturing is evident. The decrease vehicle weight and consequently make sure decrease emissions of CO2. These lightweight materials and additives are used as an instance for body and chassis elements and additionally in battery housings. China is the world's biggest car marketplace, according to the International Trade Administration (ITA), and the Chinese authorities expect the manufacturing of vehicles to attain 35 million through 2025. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the manufacturing of passenger motors in Africa was 776,967 in 2018, which then accelerated to 787,287 in 2019, a complete growth of 1.3%. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the manufacturing of mild industrial motors has accelerated from 1,348,932 in 2018 to 1,431,904 in 2019, a growth of 6.2% in Canada. Thus, growing automation manufacturing would require greater Carbon fiber-reinforced plastics for the production of light-weight car components, for you to act as a driver for the superior carbon substances marketplace for the duration of the forecast period.

The remarkable ability of nanocrystalline diamond and graphite to conduct power while dissipating or transmitting warmth from vital components makes it a really perfect material for digital programs including semiconductors, electric motors, or even modern battery production. Flexible graphite and nanocrystalline diamond are powerful for digital applications, especially electromagnetic interference (EMI) gaskets, resistive heating, thermoelectric-strength generation, and heat dissipation. According to China’s National Integrated Circuit Development Promotion Outline, in 2022, the manufacturing of ICs in China will increase at an annual common charge of over 14 percent. According to Invest India, India’s proportion in worldwide electronics production has grown from 1.3% in 2012 to 3% in 2018. Moreover, by 2025, India's consumer electronics and equipment enterprise is anticipated to become the fifth-biggest in the world. An US$800 billion to US$1 trillion virtual economies could be generated through India by 2025. Thus, with the flourishing electric and electronics sector, the demand for graphite can even subsequently grow, which acts as a driving force for the superior carbon substances marketplace increase at some stage in the forecast period.

Advanced carbon materials such as carbon nanotubes are widely used nowadays due to ease of synthesizing when compared with other types of CNTs due to their properties, such as high strength, diameter length ratio, and more. The simple addition of CNTs does not produce the desired outcomes in the rubber mixture as nanotubes coagulation because of its strong van der Waals attraction results in poor dispersion in a high viscosity of elastomer. The modification on the surface of the nanotubes is done using carbon black as fillers to overcome this problem. Carbon black particles can, however, irritate the lungs and cause coughing while irritating the eyes, nose, and throat when inhaled. However, the particles can lie deep in their lungs when individuals are exposed to high carbon black levels for several years, leading to bronchitis and ultimately a chronic condition called obstructive pulmonary disease. Longer fibers of carbon nanotubes may also find their way deep into the lungs, which can cause mesothelioma cancer in the tissue lining the lung in the worst case. All these health risks may restrain the advanced carbon materials market.

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.

Advanced Carbon Materials Market Scope

Key Segments of the Global Advanced Carbon Materials Market

By Product Type:

• Carbon Fiber
• Structural Graphite
• Carbon Nanotubes
• Graphene
• Carbon Foams

By Application Type:

• Aerospace & Defense
• Energy
• Electronics
• Sports
• Automotive
• Construction
• Others

Regional Overview,  (USD Billion)

North America

• U.S
• Canada

Europe

• Germany
• France
• UK
• Rest of Europe

Asia Pacific

• China
• India
• Japan
• Rest of Asia Pacific

South America

• Mexico
• Brazil
• Rest of South America

Middle East and South Africa