Global Advanced Structural Carbon Products Market size was valued at US$ XX Bn. in 2021 and is expected to grow at a CAGR of 7.12% over 2022-2030, to account for US$ XX Bn. by 2030.
Global Advanced Structural Carbon Products Market Overview and Dynamics:
Advanced structural carbon product is manufactured from non-identical physical forms of carbon with amorphous and graphite carbon. This product is widely used in automotive, aerospace, & defense, energy, and other industrial purposes. Looking forward, the global advanced structural carbon products market is projected to reach a value of US$ XX Bn. by 2026, expanding at a CAGR of around 7.12% during 2020-2026. Thanks to the rising demand for carbon fibers in industries such as aerospace, the automotive industry is expected to drive the global advanced structural carbon products market growth. Global market growth for reinforced plastics in the automotive sectors in developing countries like India, China, and Mexico, as well as countries in the MEA, is estimated to boost demand for the industry. Moreover, growing government funding towards nanotechnology research in China, Japan, Germany, Netherlands, and the U.S is expected to result in the development of new advanced nanomaterial. However, waste in the manufacture of finished products and the high costs of carbon fiber composites are expected to hamper the overall growth of the advanced structural carbon products market globally.
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Growth Opportunities for Start-Up Companies:
The industry provides various growth opportunities. Therefore, a number of start-ups providing advanced materials and technologies have been entering the global market. Some of them include Designer Carbon Material, DexMat, Solerial Matusions, Boston Material, and Battrion. Swedish startup Solerial Matusions produces an original nanoparticle additive for carbon fiber. The compound solution from the start-up seeks to decrease the weight and expenditure of structural elements of aircraft, while still providing larger protection.
By type, the carbon fiber segment dominated the market, with market size of US$ XX Bn. in 2021 and to reach US$ XX Bn. by 2030, with a CAGR of nearly 8.34%. The major consumption of the product for manufacturing composites used in an extensive range of applications like the automotive, energy sector is expected to drive industry growth. However, the carbon foams segment is expected to reach US$ XX Bn. by 2030 thanks to its properties with superior electrical conductivity and chemical inertness.
The Aerospace & Defense Segment to Dominate the Market Demand:
By industry, the aerospace & defense segment dominated the market, with a market size of US$ XX Bn. in 2021 and to reach US$ XX Bn. by 2030, with a CAGR of XX. 50%. This growth is attributed to high graphene conductivity devices in the aircraft aid reduce the cost of the machinery. Companies including Mitsubishi Heavy Industrial ltd. have been focusing on the growth of composite-derived wing boxes to decrease the overall aircraft weight. On the flip side, the automotive segment is expected to grow at the highest CAGR of nearly 7.82% during the forecast period. Growing vehicle manufacturing output in developing markets, such as India, China, and Mexico, is likely to encourage the use of the product as fillers due to the regulatory initiative to help investments coupled with increased SUVs sales.
Global Advanced Structural Carbon Products Market Regional Analysis:
The MRH report offers a brief analysis of the major regions in the market, namely, APAC, North America, Europe, South America, and the Middle East & Africa. Among these, Europe advanced structural carbon products market has considerably enhanced at a healthy CAGR of XX.07% from 2020 to 2026. The high dominance of aerospace manufacturing facilities of Augusta Westland, Boeing, and Bell Helicopters in Germany, France, Russia, and the UK as a result of easy availability of consumables is expected to augment the European industry growth. However, North America advanced structural carbon products market held the largest market share of XX% in 2019.
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Key Development:
The MMR reports cover key developments in the advanced structural carbon products market as organic and inorganic growth strategies. Many companies are focusing on organic growth strategies such as product launches, product approvals, and others like patents and events. ? In March 2019, Hexcel and Arkema announced, that they would open a joint R&D facility in France in April 2019. The company’s objective at this new facility is to produce carbon fiber-reinforced thermoplastic prepreg tapes so that lightweight parts can be manufactured for upcoming generations of aircraft. ? In January 2010, Hexcel and Woodward announced a definitive agreement, to combine the equals in an all-stock merger to create a prominent integrated system provider for the industrial and aerospace sectors. The merged company will emphasize technology-rich inventions to deliver consumer solutions that are cleaner, safer, and smarter.
The objective of the report is to present a comprehensive analysis of the Global Advanced Structural Carbon Products Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Global Advanced Structural Carbon Products Market dynamics, structure by analyzing the market segments and project the Global Advanced Structural Carbon Products Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Advanced Structural Carbon Products Market make the report investor’s guide.
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Global Advanced Structural Carbon Products Market Key Players
• Atlas Composites Ltd. • Anaori Carbon Co. Ltd. • Graphenea • Graphite Sales Inc. • Graftech International Ltd. • Graphtek Llc • Helwig Carbon Products Inc. • Hexcel Corp. • Hitco Carbon Composites Inc. • Honeywell International Inc. • Kirkwood Holding Inc. • Mer Corp. • Grupo Antolin Ingenieria S.A • Mersen Group • Mitsubishi Chemical Corp. • Nippon Graphite Fiber Corp • Others
