Advanced Carbon Materials Market Size and Growth:
Advance Carbon Market size was valued USD 4.78 Billion in 2018, and it is expected to reach USD 10.98 Billion by the end of 2023 with increasing at a CAGR of 18.2% during the forecast period 2017-2023. Advance carbon fiber is made of thin, strong crystalline filaments of carbon that is used to strengthen material. Advance carbon fiber can be thinner than a strand of human hair and gets its strength when twisted together like yarn.
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Advanced Carbon Materials Market Growth Drivers and Restraints:
Carbon declines its market due to its higher cost compared to other materials and electric conductivity that may affect radioactive waves, which can be overcome by tremendous research and development in the forecast period.
Detailed Segmentation of the Advanced Carbon Materials Market:
Advanced Carbon Materials Market – By End user/Industry:
- Aerospace and Defense
Aerospace and defense industry is expected to dominate the advanced carbon materials market, accounting for one-third of the total market share.
Advance Carbon is high in tensile strength, low weight and high temperature tolerant with less thermal expansion. Due to this, advance carbon fiber is very popular in many industries such as aerospace, automotive, military, and recreational applications like bike frames, aircraft wings, containers and automobile components.
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Geographical Presence of the Advanced Carbon Materials Market:
Geographically, North America is the dominant market for the carbon fiber due to its aerospace industrialization and is expected to continue in forecast period. Asia Pacific is the second largest market for the carbon fiber due to its rapid urbanization and infrastructural development.
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Prominent Key Players are mentioned in this Advanced Carbon Materials Market Report:
Graphenano, Showa Denko, Huntsman, Arkema, CNano Technology, CVD Equipment, Haydale Graphene Industries, Grupo Antolin Ingenieria, Nippon Graphite Fiber, Anaori Carbon, and Other Key Players are involved in this market report.
Advanced Carbon Materials Market – By Geographical Segment:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Rest of the World
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