Advanced Carbon Materials Market Size (2024 - 2029)

The Advanced Carbon Materials Market is projected to experience significant growth over the forecast period, driven by increasing demand in sectors such as construction, automotive, and aviation. Despite challenges posed by the COVID-19 pandemic, including manufacturing shutdowns and supply chain disruptions, the market has shown recovery and resilience. The high cost of carbon fiber composites and production wastage present obstacles to growth, yet opportunities arise from the development of materials from bio-waste. North America leads in market consumption, with Asia-Pacific following closely.

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Market Size of Advanced Carbon Materials Industry

Advanced Carbon Materials Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 9.82 %
Fastest Growing Market North America
Largest Market North America
Market Concentration Low

Major Players

Advanced Carbon Materials Market Major Players

*Disclaimer: Major Players sorted in no particular order

Advanced Carbon Materials Market Analysis

The Advanced Carbon Materials Market size is expected to grow from USD 16.45 billion in 2023 to USD 26.27 billion by 2028, at a CAGR of 9.82% during the forecast period.

The COVID-19 pandemic negatively impacted the market. This was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.

  • Over the short term, increasing demand for carbon fiber-reinforced plastic in the construction industry and increasing focus on lightweight composites in the automotive and aviation industries are some of the factors driving the growth of the market studied.
  • On the flip side, the high cost of carbon fiber composites and wastage in the production of finished products is likely to hinder the growth of the market studied.
  • However, the production of advanced carbon materials from bio-waste is anticipated to provide numerous opportunities over the forecast period.
  • North America dominated the market with the largest consumption, followed closely by Asia-Pacific.

Advanced Carbon Materials Industry Segmentation

Advanced carbon materials such as fullerene, graphene, and carbon nanotubes (CNTs) are regarded as the backbone of engineering and scientific innovation due to their varied chemical, physical, and electrical properties. Physical and chemical processes are used to create sustainable carbon compounds. Furthermore, fabrication methods are used to create improved carbon monoliths, which are constituents with desirable qualities. Diverse allotropes of advanced carbon materials are generally used in renewable energy resources, organic photovoltaics, and energy conservation technology, with the goal of achieving desirable monoliths. 

The Advanced Carbon Materials Market is segmented by Product Type (Carbon Fibers, Special Graphite, Carbon Nanotubes, Graphene, Carbon Foams, and Other Product Types), Application (Aerospace and Defense, Electronics, Sports, Automotive, Construction, Energy, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for the advanced carbon materials market in revenue (USD billion) for all the above segments.

Product Type
Carbon Fibers
Special Graphite
Carbon Nanotubes
Graphene
Carbon Foams (Includes Carbon Nanofoams)
Others (Fullerenes, Diamond-like Carbon (DLC), Nanocrystalline Diamond (NCD))
Application
Aerospace and Defence
Electronics
Sports
Automotive
Construction
Energy
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle East and Africa
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Advanced Carbon Materials Market Size Summary

The advanced carbon materials market is poised for significant growth, driven by increasing demand across various industries such as construction, automotive, aviation, and aerospace. The market experienced a setback due to the COVID-19 pandemic, which caused disruptions in manufacturing and supply chains. However, it rebounded in 2021, with a resurgence in demand. The construction industry is seeing a rise in the use of carbon fiber-reinforced plastics, while the automotive and aviation sectors are focusing on lightweight composites to enhance efficiency. Despite challenges like high production costs and material wastage, opportunities are emerging from the production of advanced carbon materials from bio-waste. North America leads the market, with Asia-Pacific following closely, particularly in aerospace and defense applications where carbon materials are replacing conventional metal structures.

The North American region is expected to maintain its dominance in the advanced carbon materials market, supported by robust demand in aerospace, defense, electronics, and automotive sectors. The United States, with its significant defense budget and increasing automobile production, is a key driver of this demand. The market is characterized by partial fragmentation, with major players like TORAY INDUSTRIES INC., Toyo Tanso Co. Ltd, and SGL Carbon leading the charge. These companies are focusing on innovative technologies and sustainability solutions to address global challenges. Additionally, initiatives such as the establishment of large-scale carbon fiber plants in India highlight the growing investment and expansion in this sector, further fueling market growth over the forecast period.

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Advanced Carbon Materials Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rising Demand for Carbon Fiber Reinforced Plastic in the Construction Industry

      2. 1.1.2 Technological Advancements in Carbon Nanotubes

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 High-cost of Carbon Fiber Composites

      2. 1.2.2 Wastage in the Production of Finished Products

      3. 1.2.3 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product Type

      1. 2.1.1 Carbon Fibers

      2. 2.1.2 Special Graphite

      3. 2.1.3 Carbon Nanotubes

      4. 2.1.4 Graphene

      5. 2.1.5 Carbon Foams (Includes Carbon Nanofoams)

      6. 2.1.6 Others (Fullerenes, Diamond-like Carbon (DLC), Nanocrystalline Diamond (NCD))

    2. 2.2 Application

      1. 2.2.1 Aerospace and Defence

      2. 2.2.2 Electronics

      3. 2.2.3 Sports

      4. 2.2.4 Automotive

      5. 2.2.5 Construction

      6. 2.2.6 Energy

      7. 2.2.7 Others

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Spain

        6. 2.3.3.6 Russia

        7. 2.3.3.7 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 United Arab Emirates

        3. 2.3.5.3 South Africa

        4. 2.3.5.4 Rest of Middle East and Africa

Advanced Carbon Materials Market Size FAQs

The Advanced Carbon Materials Market is projected to register a CAGR of 9.82% during the forecast period (2024-2029)

TORAY INDUSTRIES, INC., Toyo Tanso Co.,Ltd., Global Graphene Group, SGL Carbon and SHOWA DENKO K.K. are the major companies operating in the Advanced Carbon Materials Market.

Advanced Carbon Materials Market Report Snapshots

Advanced Carbon Materials Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)