The research on the Advanced Carbon Material Market further validates other prime factors including investment feasibility, production capability, product pricing, production volume, demand and supply, import and export status to help business evangelists make the multi-dimensional marketing strategy more robust.
New York, NY -- (SBWIRE) -- 05/03/2021 -- The global Advanced Carbon Material market is forecast to reach USD 6.39 Billion by 2027, according to a new report by Reports and Data. Growing demand for carbon fiber-reinforced plastics in the construction industry and increasing emphasis on lightweight composites in the automotive and aviation industries are key factors driving the market. Developing industrial applications is one of the leading causes of growth for carbon materials, and this is expected to increase market demand. The growing trend of vehicle miniaturization and the implementation of lightweight composites between construction and aerospace sectors is anticipated to provide multiple opportunities for the expansion of the market size of advanced carbon materials over the forecast years.
An increase in the demand for composites in application industries such as automotive, construction, aerospace & defense, and electronics sectors is expected to augment the product demand. They have enormous potential to penetrate the market because of the excellent electrical properties and lightweight nature of the carbon materials. The carbon nanotubes market provides tremendous opportunities for growth as these are used as filling agents for products made from photovoltaic cells.
Key participants include CNano Technology, Anaori Carbon Co. Ltd., Grupo Antolin IngenieriaA., Graphenano, Graphenea, CVD Equipment Corporation, Haydale Graphene Industries PLC, Showa Denko K.K., Mitsubishi Rayon, and Hexcel among others.
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The high cost of carbon materials and environmental issues associated with the use of carbon materials will hamper growth for the advanced carbon materials industry. But the production of advanced bio-waste carbon content would create opportunities for the advanced carbon materials industry. Also, the high reliance on crude oil prices over the forecast period is expected to remain a challenging factor.
The COVID-19 impact:
The Advanced Carbon Material industry has suffered some impact but maintained a relatively positive performance; analysts believe that the size of the market will be further expanded in the next few years. The pandemic's debilitating effect has negatively impacted production and demand, established supply chain, and market disruption. This pandemic has affected the Asia Pacific region the most, with China at the center of the cause. Numerous plans in different countries, influenced by the disease, have come to a temporary stop. Its economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the sale for Advanced Carbon Material.
For the purpose of this report, Reports and Data have segmented into the global Advanced Carbon Material market on the basis of product, distribution channel, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Retail Distribution Channel
Wholesale & Distributor Business Trend
Application Outlook (Revenue, USD Billion; 2017-2027)
Aerospace & Defense
Regional Outlook (Revenue, USD Billion; 2017-2027)
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Further key findings from the report suggest
Europe dominated the regional segment by holding a significant market share in 2019. The growth in the automobile industry in these nations is expected to increase the usage of lightweight and environmentally friendly automotive components.
The rapid urbanization, rising government spending on infrastructure and construction, and integrated retailing boosts the growth of the industry in APAC. The competitive environment between manufacturers has resulted in the adoption of technologies. This drives the market and is anticipated to grow further with a CAGR of 6.4% in the region.
Because of its highly developed distribution channel industries, advanced processing capabilities, combined with a highly skilled workforce and growing R&D initiatives, the U.S. is among the leading countries in the market for advanced carbon materials. Developing applications and strong demand encourage producers to concentrate on new technologies to expand the market.
Aerospace acquired the highest market segment with the rising trend of replacing aluminum with carbon composites to reduce weight and increase fuel efficiency. The segment generated a revenue of USD 1.24 Billion in 2019 and is anticipated to grow further with a CAGR of 6.5%.
The construction segment is expected to project growth from 2019 to 2027 at a CAGR of 6.6%. With the increasing focus on urbanization in emerging economies and increasing investments in infrastructure development in developed nations, the market is growing.
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Advanced Carbon Material Market Segmentation & Impact Analysis
4.1. Advanced Carbon Material Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
184.108.40.206. Rising demand for lightweight automotive material
220.127.116.11. Significant gains in plastic industry
18.104.22.168. Favorable scenario in electronic sector
4.2.3. Market restraints analysis
22.214.171.124. Credible threat from internal & external substitutes
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
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