Driven in part by increased development of nanomaterials, the advanced carbon materials market is expected to grow to $5.29 billion globally by 2024, said a recent survey. The report by Grand View Research details the types of carbon materials most in demand, as well as key manufacturers in the industry.
In particular, more companies are using graphine in manufacturing, utilizing it as a protective coating for flexible consumer electronic devices. Companies like the Swedish Graphensic, which is working on a graphene-derived resistance standard measurement kit, are also finding new ways to use graphene in more specific applications. Driven by this type of development, worldwide demand for graphine was 481.2 tons in 2015.
Grand View Research found that the energy and fiber industries are particularly key. The energy industry is anticipated to have revenue growth of 6.8 percent from 2016 to 2024, accelerated by an increased demand for photovoltaic cells as opposed to conventional solar. Carbon nanotubes, which can be used as filling agents for photovoltaic cells, are also being used for new resin composite applications.
Carbon-fiber reinforced plastic is seeing increased use in the aerospace and defense markets, which may lead to more market growth in that area. Fibers are also anticipated to see market growth, because of increased use of carbon-fiber reinforced plastics in the automotive, construction, and electronics segments.
The complete report can be found here.
Filed Under: Materials • advanced