Return to: Technology NewsThe Market Growth for Advanced Carbon Materials is Bolstered by Increasing Demand from Automotive, Aerospace and Sports SectorA new report from Industry Experts Inc., on "Advanced Carbon Materials Market", reveals that the global demand for Advanced Carbon Materials is estimated at US$18.3 billion in 2024 and is projected to reach US$27.5 billion by 2030 at a CAGR of 7% between 2024 and 2030. The increasing need for lightweight, high-strength materials in the automotive, aerospace and sports equipment industries is bolstering the market. Developments in nanocarbon technologies, including graphene and carbon nanotubes, are instrumental in creating new prospects in the fields of electronics, biomedical and other sectors. Apart from this, carbon composites are being adopted in energy storage applications, such as lithium-ion batteries. Increased investments in research & development are striving towards making these materials more sustainable and lightweight as per the required criteria. Carbon Fibers are expected to be the largest product type in the global market for Advanced Carbon Materials. The major factors for its dominance include growing concerns about galvanic corrosion problems related to aluminum use in aerospace applications. The extensive use of this material in the manufacturing of diverse composite applications in the energy, electronics, construction and automotive sectors has been fostering industry expansion. Compared to steel or aluminum, carbon fibers have lower density, are stronger and have a longer lifespan, making them the perfect material for a variety of applications in the production of cars and airplanes. The global market for advanced carbon materials is analyzed in this report for all major regions across North America (The United States, Canada and Mexico), Europe (France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), South America (Argentina, Brazil and Rest of South America) and Middle East & Africa. The advanced carbon materials market analyzed in this report with respect to Type – Carbon Fibers, Carbon Foams, Carbon Nanotubes (CNTs), Fullerenes and Graphene; and Application Area – Aerospace & Defense, Automotive, Construction, Electronics, Energy Storage, Medical Equipment, Sports Goods and Other Applications. About Industry Experts, Inc. Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts. ... News Release: The Market Growth for Advanced Carbon Materials is Bolstered by Increasing Demand from Automotive, Aerospace and Sports Sector Submitted on: January 30, 2025 05:31:59 AM Submitted by: IndustryexpertsMedia On behalf of: industry-experts.com/verticals/advanced-technologies/global-advanced-carbon-materials-market |