Market Insights on Advanced Carbon Materials: Growth, Trends, and Projections
Advanced carbon materials are increasing rapidly across the globe with increased demand in different segments like electronics, automobiles, aerospace, and renewable energy. High-tech carbon materials include carbon nanotubes, graphene, carbon fibers, carbon black, and synthetic graphite , which are extremely useful due to their excellent strength, conductivity, and lightweight. These materials have started appearing in new applications where other materials are lacking. Market Overview The Advanced Carbon Materials Market in 2023 was worth USD 27.79 billion. The market size is estimated to be USD 48.20 billion by 2031, growing at a CAGR of 7.1% from 2023 to 2031. This growth can be traced to technological changes, increased focus on lightweight materials, and evolution in the electric vehicle (EV) and aerospace industries. Advanced Carbon Materials Market Key Growth Drivers Electronics and Semiconductors: Carbon is a vital component of electronic and semi...