Advanced Carbon Materials Market Size, Share & Trends Analysis Report By Product, By Application (Aerospace & Defense, Energy, Electronics, Sports, Automotive, Construction), By Region, And Segment Forecasts, 2024 - 2030

Advanced Carbon Materials Market Size, Share & Trends Analysis Report By Product, By Application (Aerospace & Defense, Energy, Electronics, Sports, Automotive, Construction), By Region, And Segment Forecasts, 2024 - 2030

Advanced Carbon Materials Market Growth & Trends

The global advanced carbon materials market size is expected to reach USD 6.90 billion by 2030, registering a CAGR of 4.5% during the forecast period, 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 carbon foams segment is projected to witness a rapid growth rate over the forecast period. This growth can be attributed to the characteristics of carbon nanofibers such as improved electrical conductivity and chemical stability. The demand is further strengthened owing to the huge demand and increase in research and development on nanofoams and fireproof foams.

Advanced Carbon Materials Market Report Highlights

• By application, The automotive industry is projected to experience a CAGR of of 5.8% over the forecast period. Due to the augmented car production in the economies of India, China, and Mexico.
• Aerospace & defense segment dominated the market with 33.4% of the overall market in 2023. Increasing utilization of CFRP for manufacturing fuselage components and wing boxes for optimizing aerodynamic efficiency is likely to have a positive impact on advanced carbon materials market growth over the next eight years.
• In 2023, carbon fibers segment dominated the market with a global market share of 88.2%, driven by rising concerns over the problems of galvanic corrosion issues related to the use of aluminum in aerospace applications.
• Asia Pacific dominated the global market in 2023 with a share of 33.9% and is anticipated to witness substantial gains over the forecast period on account of the expansion of the manufacturing sector.

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