Advanced Carbon Materials Market Report 2024 (Global Edition)

Global Advanced Carbon Materials Market Report 2024 Market Size Split by Product Type (Carbon Nanotubes (CNTs), Carbon Fibers, Carbon Nanofibers (CNFs), Carbon-Based Nanomaterials (CBNs), Others), by ...

Advanced Carbon Materials Market Report Description

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Advanced Carbon Materials Market Insights Video

Competitive Landscape of the Advanced Carbon Materials Market

The competitive landscape of the Advanced Carbon Materials market is characterized by a range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established carbon fibers manufacturers, specialized Advanced Carbon Materials companies, and emerging start-ups aiming to disrupt the market with innovative solutions.

April 2021: Origin Materials and Solvay collaborated to create and market cutting-edge materials for automotive applications based on Origin's platform. Additionally, to create a specific polyamide and e-mobility ready for immediate use, Solvay and Origin Materials inked a cross-capacity reservation agreement. (Source:https://www.originmaterials.com/press-releases/solvay) March 2021: A new carbon nanotube (CNT) series called ENERMAXTM 6 was introduced by Cabot Corporation. High-performance carbon nanotubes with a high aspect ratio are called ENERMAXTM 6 CNTs. (Source:https://investor.cabot-corp.com/news-releases/news-release-details/cabot-corporation-launches-new-enermaxtm-carbon-nanotube)

Top Companies Market Share in Advanced Carbon Materials Industry: (In no particular order of Rank)

• Hexcel
• Zoltek
• Showa Denko K.K.
• Toho Tenax Co. Ltd.
• Arkema S.A.
• Mitsubishi Rayon
• Toray Industries
• Hanwha Chemical
• Graphenea
• Nippon Graphite Fiber Corporation
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Advanced Carbon Materials Market

Which Region Dominates the Advanced Carbon Materials Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue. The greatest and most powerful economy in the world is that of the United States. Through the forecast period, it is anticipated that the demand for advanced carbon materials will rise quickly as a result of the burgeoning need for various advanced materials such as carbon fibers, carbon nanotubes, graphene, special graphite, carbon foams, nanocrystalline diamond (NCD), diamond-like-carbon (DLC), and fullerenes in a variety of end-user industries, including aerospace and defense, electronics, automotive, and energy, among others. According to the OICA, the United States' automobile output in 2022 was 10.06 million units, indicating a 10% rise from 2021 and a 14% increase from 2020. Thus, it is anticipated that rising auto production will lead to an increase in demand for advanced carbon materials. Furthermore, the United States is predicted to have spent USD 822 billion on defense in 2022, according to the Defense Expenditure of NATO Countries. As a result, they have by far the largest defense budget among all NATO countries. Thus, it is anticipated that rising defense spending in the US will boost demand for advanced carbon materials in the North American region.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the Advanced Carbon Materials market. The market for advanced carbon materials is anticipated to increase significantly in the Asia-Pacific region due to expanding applications in important industries, including electronics, automotive, and energy storage, as well as fast industrialization. Leading nations in R&D, such as China, Japan, and South Korea, have made significant expenditures in nanotechnology and cutting-edge materials. The industry in the region is flourishing as a result of the strong government support for innovation and sustainable development, as well as the increased need for high-performance materials in consumer electronics and electric vehicles. The region's economic potential is further enhanced by a sizable manufacturing base and the accessibility of raw materials.

The current report Scope analyzes Advanced Carbon Materials Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Advanced Carbon Materials Market

According to Cognitive Market Research, the global Advanced Carbon Materials market size was estimated at USD 17518.2 Million, out of which North America held the major share of more than 40% of the global revenue with a market size of USD 7007.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Advanced Carbon Materials market with a market size of USD 5528.74 million in 2024 and is projected to grow at a CAGR of 8.6% during the forecast period. The need for materials that are lightweight and robust, such as carbon fiber composites, is driven by the existence of large aerospace and defense industries.
• The Canada Advanced Carbon Materials market had a market share of USD 840.87 million in 2024 and is projected to grow at a CAGR of 9.6% during the forecast period. Graphite is a vital component of many carbon-based materials and is abundantly available in Canada.
• The Mexico Advanced Carbon Materials market is projected to witness growth at a CAGR of 9.3% during the forecast period, with a market size of USD 637.66 million in 2024.

Europe Advanced Carbon Materials Market

According to Cognitive Market Research, the global Advanced Carbon Materials market size was estimated at USD 17518.2 Million, out of which Europe held the share of more than 30% of the global revenue with a market size of USD 5255.46 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.1% from 2024 to 2031.

• The United Kingdom Advanced Carbon Materials market had a market share of USD 882.92 million in 2024 and is projected to grow at a CAGR of 9.9% during the forecast period. A significant amount of money has been invested in advanced materials research as a result of the UK government's emphasis on technology and innovation.
• The France Advanced Carbon Materials market is projected to witness growth at a CAGR of 8.3% during the forecast period, with a market size of USD 483.50 million in 2024.
• According to Cognitive Market Research, the German Advanced Carbon Materials market size was valued at USD 1040.58 million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period. The well-known German automobile industry is a significant factor in the rising demand for carbon fiber-reinforced polymers (CFRPs), with a particular emphasis on lightweight and electrified automobiles.
• The Italy Advanced Carbon Materials market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 451.97 million in 2024.
• The Russian Advanced Carbon Materials market is projected to witness growth at a CAGR of 8.1% during the forecast period, with a market size of USD 814.60 million in 2024.
• The Spain Advanced Carbon Materials market is projected to witness growth at a CAGR of 8.2% during the forecast period with a market size of USD 430.95 million in 2024
• The Luxembourg Advanced Carbon Materials market is projected to witness growth at a CAGR of 9.2% during the forecast period, with a market size of USD 162.92 million in 2024.
• The Portugal Advanced Carbon Materials market is projected to witness growth at a CAGR of 8.9% during the forecast period, with a market size of USD 110.36 million in 2024.
• The Greece Advanced Carbon Materials market is projected to witness growth at a CAGR of 9.4% during the forecast period, with a market size of USD 63.07 million in 2024.
• Rest of Europe's Advanced Carbon Materials market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 814.60 million in 2024.

Asia Pacific Advanced Carbon Materials Market

According to Cognitive Market Research, the global Advanced Carbon Materials market size was estimated at USD 17518.2 Million, out of which Asia Pacific held the share of around 23% of the global revenue with a market size of USD 4029.19 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031.

• According to Cognitive Market Research, the China Advanced Carbon Materials market size was valued at USD 1813.13 million in 2024 and is projected to grow at a CAGR of 12.1% during the forecast period. The growing electronics and semiconductor industries drive the market for cutting-edge carbon materials like graphene and carbon nanotubes.
• The Japan Advanced Carbon Materials market is projected to witness growth at a CAGR of 11.1% during the forecast period, with a market size of USD 556.03 million in 2024.
• The India Advanced Carbon Materials market had a market share of USD 483.50 million in 2024 and is projected to grow at a CAGR of 14.4% during the forecast period. India is rapidly becoming a more industrialized nation, and there is an increasing demand for innovative materials to improve the efficiency and performance of products.
• The South Korean Advanced Carbon Materials market is projected to witness growth at a CAGR of 11.7% during the forecast period, with a market size of USD 402.92 million in 2024.
• The Australian Advanced Carbon Materials market is projected to witness growth at a CAGR of 12.3% during the forecast period, with a market size of USD 209.52 million in 2024.
• The South East Asia Advanced Carbon Materials market is projected to witness growth at a CAGR of 13.6% during the forecast period, with a market size of USD 278.01 million in 2024.
• The Rest of the Asia Pacific Advanced Carbon Materials market is projected to witness growth at a CAGR of 12.4% during the forecast period, with a market size of USD 286.07 million in 2024.

South America Advanced Carbon Materials Market

According to Cognitive Market Research, the global Advanced Carbon Materials market size was estimated at USD 17518.2 Million, out of which the Latin America market has more than 5% share of the global revenue with a market size of USD 875.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Advanced Carbon Materials market size was valued at USD 374.89 million in 2024 and is projected to grow at a CAGR of 10.6% during the forecast period. Brazil's dedication to renewable energy sources, especially hydropower and biofuels, may create opportunities for carbon-based materials in applications connected to energy storage.
• Argentina's Advanced Carbon Materials market had a market share of USD 147.15 million in 2024 and is projected to grow at a CAGR of 10.9% during the forecast period. Advanced carbon materials for machinery and procedures can help the agriculture industry increase production and efficiency.
• Colombia's Advanced Carbon Materials market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 77.96 million in 2024.
• Peru's Advanced Carbon Materials market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD 71.82 million in 2024.
• Chile's Advanced Carbon Materials market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 63.07 million in 2024.
• The Rest of Latin America's Advanced Carbon Materials market is projected to witness growth at a CAGR of 9.1% during the forecast period, with a market size of USD 141.02 million in 2024.

Middle East and Africa Advanced Carbon Materials Market

estimated at USD 17518.2 Million, out of which the Middle East and Africa held the major share of around 2% of the global revenue with a market size of USD 350.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.3% from 2024 to 2031..

 

• The GCC Countries Advanced Carbon Materials market is projected to witness growth at a CAGR of 11.1% during the forecast period, with a market size of USD 149.96 million in 2024. The region's strong reliance on gas and oil drives the need for corrosion-resistant and lightweight components because these processes require sophisticated materials for drilling, exploration, and production.
• The Egypt Advanced Carbon Materials market is projected to witness growth at a CAGR of 10.6% during the forecast period, with a market size of USD 36.79 million in 2024.
• The South African Advanced Carbon Materials market is projected to witness growth at a CAGR of 11.3% during the forecast period, with a market size of USD 55.36 million in 2024. Carbon-based materials may be used in construction and related fields as a result of large-scale infrastructure initiatives like energy and transportation networks.
• The Turkey Advanced Carbon Materials market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 30.13 million in 2024.
• The Nigeria Advanced Carbon Materials market is projected to witness growth at a CAGR of 9.4% during the forecast period, with a market size of USD 36.79 million in 2024.
• The Rest of the MEA Advanced Carbon Materials market is projected to witness growth at a CAGR of 9.3% during the forecast period, with a market size of USD 41.34 million in 2024.

Advanced Carbon Materials Market Analysis

Advanced Carbon Materials Market Product Type Segment Analysis

According to Cognitive Market Research, Carbon Fibers stands out as the dominant category over the projected period. This is because it provides a number of benefits. Low-density materials with a very high strength-to-weight ratio are made of carbon fiber. This suggests that carbon fiber is robust without weighing down like steel or aluminum, which makes it appropriate for use in things like cars and airplanes. Furthermore, carbon fiber-reinforced plastic is particularly suited for situations where it may come into contact with corrosive chemicals or salt water due to its high tensile strength and inherent resistance to oxidization. The main elements driving the demand for carbon fibers during the forecast period are all of these extensive features of carbon fibers.

Carbon Nanotubes (CNTs) emerge as the fastest-growing category in the Advanced Carbon Materials market. Owing to their outstanding thermal, mechanical, and electrical characteristics, carbon nanotubes (CNTs) are widely used in the advanced carbon materials market. They improve device performance in electronics by being used in conductive films, transistors, and sensors. CNTs increase the energy storage capacity and efficiency of batteries and supercapacitors. In the aerospace and automotive industries, they are also used in composite materials to provide strong and lightweight structural components. Additionally, improved coatings, medication delivery systems, and medical devices all incorporate CNTs.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Advanced Carbon Materials Industry. Request a Free Sample PDF!

Advanced Carbon Materials Market Technology Segment Analysis

According to Cognitive Market Research, the dominant category is Chemical Vapor Deposition. The ability of Chemical Vapor Deposition (CVD) technology to precisely control thickness, purity, and structure in the production of high-quality materials like graphene, carbon nanotubes (CNTs), and carbon fibers is driving the demand for CVD technology in the Advanced Carbon Materials Market. Because of its consistency and scalability, CVD is preferred and is, therefore, crucial in sectors like electronics, aerospace, and energy storage. Its use in the production of sophisticated carbon materials is propelling technical development and bolstering the market, particularly in high-performance industries.

The fastest-growing category in the Advanced Carbon Materials market is Catalyzed Chemical Vapor Deposition. The market for advanced carbon materials is seeing a rise in demand for Catalyzed Chemical Vapor Deposition (CCVD) technology because of its effectiveness in manufacturing graphene and carbon nanotubes (CNTs) of superior quality at reduced costs. Large-scale industrial applications benefit greatly from CCVD technology since it improves the development rate and homogeneity of these materials. In fields where exact control over material properties is essential, such as electronics, energy storage, and composite materials, this technology is especially valued. Its increasing popularity is fueled by its capacity to generate sophisticated carbon materials at a lower cost.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Advanced Carbon Materials End Use Segment Analysis

Advanced Carbon Materials Market End-Use Segment Analysis

According to Cognitive Market Research, the dominant category is Aerospace. The aerospace industry's demand for advanced carbon materials is impacted by the innovative design of small integrated circuits that are appropriate for high-temperature applications in fast-moving military aircraft. Furthermore, the focus on developing lightweight aircraft has led to the development of wing boxes made of composite materials. Advanced carbon materials are widely employed in the aerospace sector to reduce aircraft weight and optimize performance. Therefore, throughout the projection period, the aerospace industry's need for advanced carbon materials will be primarily driven by all of these benefits connected to them.

The fastest-growing category in the Advanced Carbon Materials market is Automotive. The market for advanced carbon materials is expanding in the automobile industry as producers look to increase the efficiency and performance of their vehicles. Vehicle weight can be decreased by using carbon fibers and carbon nanotubes (CNTs), which also improve fuel economy and cut pollution. These materials also aid in the development of electric and hybrid vehicles by being used in batteries, supercapacitors, and structural components. Because the business is focused on achieving strict environmental laws, lightweight, and durability, there is a demand for enhanced carbon materials.

• Automotive
• Aerospace
• Medical Devices
• Electronics
• Sensors
• Others

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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