Carbon Foam Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The carbon foam market is expected to reach USD 19.17 million by the end of this year and is projected to register a CAGR of over 8.5% during the forecast period.
The market was highly impacted by COVID-19 in 2020. The COVID-19 pandemic affected the carbon foam market because of supply chain and market disruption. During the pandemic, many factories responsible for carbon foam production were shut down. There was also a shortage of carbon powders such as graphite, graphene, and carbon nanotubes in combination with a polymer binder, which are responsible for the production of carbon foam. In the construction and automotive industry, carbon foam is used as an insulating material for fire-resistant panels. It is also used in batteries of automobiles and industrial power generation devices.
Key HighlightsThe carbon foam market is currently consolidated in nature, where the top players hold the majority share of the market studied. Some of the major players in the market include CFOAM LLC, POCO, Koppers Inc., Ultramet, and ERG Aerospace.
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