San Francisco, Nov
09 The global advanced
carbon materials market is expected to reach USD 5.29 billion by
2024, according to a new report by Grand View Research, Inc. Growing demand for
fiberglass products in construction, automotive and energy applications, as a
lightweight material, is likely to have a positive impact. Furthermore,
technological advancement for the development of carbon nanomaterials is
expected to increase the industry penetration over the next eight years.
The
demand for graphene was 481.2 tons in 2015 and is projected to witness growth
in light of its increasing usage as a protective coating for manufacturing
flexible electronic devices and smartphones. In addition, companies are
focusing on innovation to develop products catering to niche applications. In
June 2015, Sweden-based Graphensic developed a new graphene-derived resistance
standard measurement kit which is capable of observing Quantum Hall effect at
high temperature and low magnetic temperature.
Browse full research report on Advanced Carbon Materials Market:
www.grandviewresearch.com/industry-analysis/advanced-carbon-materials-market
Further key
findings from the report suggest:
- Energy is
expected to foresee revenue growth at a CAGR of 6.8% from 2016 to 2024.
Growing demand for photovoltaic (PV) cells in light of providing high
efficiency as compared to conventional solar devices is expected to
promote the usage of advanced materials, particularly carbon nanotubes as
filling agents.
- Aerospace
& defense generated revenue worth USD 1.06 billion in 2015. Increasing
utilization of CFRP for manufacturing fuselage components and wing boxes
for optimizing aerodynamic efficiency is likely to have a positive impact
on market growth over the next eight years.
- Fibers are
likely to witness volume growth at a CAGR of 6.5% from 2016 to 2024.
Significant demand for carbon fiber reinforced plastics (CFRP) in
automotive, construction and electronics applications in light of
providing excellent high initial strength-to-weight ratio is expected to
remain a favorable factor.
- Asia Pacific
generated a revenue of USD 878.2 million in 2015 and is anticipated to
witness substantial gains over the forecast period on account of the
expansion of the manufacturing sector. In May 2016, Foxconn announced the
establishment of Apple iPhone manufacturing facility at USD 10 billion in
Maharashtra by 2020. This initiative is expected to open new markets for
these advanced materials over the forecast period.
- Key
manufacturers include Toray Industries, Hexcel, Mitsubishi Rayon, Showa
Denko, Thomas Swan, Graphenea SA, and Graphene Laboratories. Companies are
focusing on new product development and formation of strategic alliances
with technological companies. For instance, in July 2016, Showa Denko
developed a new grade of carbon nanotube under the brand name, VGCFTM-X,
with optimized design for resin composite applications.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand
View Research has segmented the global advanced carbon materials market by
product, application, and region:
Product Outlook (Volume, Tons; Revenue, USD Million,
2013 - 2024)
- Carbon fibers
- Graphene
- Carbon
nanotubes
- Structural
graphite
- Carbon foams
Application Outlook (Volume, Tons; Revenue, USD
Million, 2013 - 2024)
- Aerospace
& Defense
- Energy
- Electronics
- Sports
- Automotive
- Construction
- Others
Regional Outlook (Volume, Tons; Revenue, USD
Million, 2013 - 2024)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- Japan
- Latin America
- Brazil
- Middle East
& Africa (MEA)
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-advanced-carbon-materials-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information:
www.grandviewresearch.com
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