|Fastest Growing Market:||Asia-Pacific|
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The Global Carbon Foam Market is projected to register a CAGR of above 5 % during the forecast period (2022-2027).
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. There was a change in priority to the health sector, sectors like Aerospace, Automotive, and building construction were on temporary hold. 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.
- Over the short term, increasing usage in the aerospace industry, rising demand for carbon foam batteries from electric vehicle applications, and increasing consumption in building and construction materials are some of the driving factors which are stimulating the market demand.
- The high cost of the production process of carbon foam is hindering the market's growth.
- Rising potential demand from fifth generation stealth fighter aircraft for numerous potential applications in wing skins, forward fuselage, flaperons, rudder, and others are likely to create opportunities for the market in the coming years.
- The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
Scope of the Report
Carbon foams are porous materials that possess unique properties such as low density, high porosity, high thermal conductivity, and low thermal expansion coefficient. Carbon foams are produced by the decomposition of coal under pre-defined high pressures and temperature conditions. It can be used as a firewall in airplanes and as energy absorbing structural components in automobiles. The carbon foam market is segmented by type, end-user industry, and geography. By Type, the market is segmented into Graphitic and Non-graphitic. By End-user Industry, the market is segmented into Aerospace and Defense, Building and Construction, Automotive, Electrical, Industrial, and Other End-user industries. The report also covers the market size and forecast for the carbon foam market in 15 countries across major regions. For each segment, the market sizing and forecast have been done on the basis of volume (kilo tons).
|Aerospace and Defense|
|Building and Construction|
|Other End-user Industries|
Key Market Trends
Increasing Usage in the Aerospace and Defense Industry
- Carbon foams are produced by the controlled thermal decomposition of inexpensive coal extracts that exhibit a combination of structural and thermal properties which makes them attractive for aerospace applications. Carbon Foam is the fastest-growing product in the aerospace industry. Carbon foam is an attractive alternative material to traditional materials such as intumescent mats, polymer matrices, balsa wood, metallic honeycombs, ceramic tile polystyrene, ceramic fibrous insulation, plastics, and many others.
- These foams also possess intriguing electrochemical properties that provide potential in high-efficiency fuel cell and battery applications, mandrels and tooling for composite manufacture, ablative performance, and fire resistance necessary for aerospace applications.
- Carbon Foam in airplane construction beyond its thermal properties includes its low manufacturing cost, lightweight, and strength in technical applications even under extreme conditions.
- According to Boeing Commercial Outlook 2021-2040, the global commercial fleet will surpass 49,000 airplanes by 2040. Furthermore, Europe, North America, China, and other Asia-Pacific countries, each will account for about 20% of new airplane deliveries, with the remaining 20% going to other emerging markets.
- Owing to all these factors, the market for carbon foam is likely to grow globally during the forecast period.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China and India are among the fastest emerging economies in the world.
- China is the world's leading producer and exporter of carbon foam products. The Chinese civil aviation market was valued at USD 92.54 billion in 2020 and is estimated to grow by 5.6 % by 2038. Carbon foam is majorly used in energy storage systems such as batteries used in automobiles and industrial processes.
- The Chinese automobile industry depicted significant growth over the years. In 2021, around 80 million automobiles produced worldwide. In that, China's production accounted for about 32.5 % of the global car production. Similarly, added value in the construction industry in China has been increasing by at least 3.5% annually in the recent decade and In 2021, the construction output value in China achieved its peak at around CNY 29.3 trillion.
- The civil aviation industry in India has emerged as one of the fastest growing industries in the country during the last three years. It has become the third largest domestic aviation industry in the world, and it is expected that India will become the third largest country in the air passenger market by 2024.
- In the fiscal year 2021, India’s automobile industry reached to a total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles of about 1,860,809 units. Also, India’s automobile exports reached 4.13 million vehicles in 2021, growing at a CAGR of 3.47%.
- According to India Brand Equity Foundation (IBEF), in 2019, the real estate industry in India generated sales of USD 1.72 billion and it is expected to reach USD 9.30 billion by 2040.
- Due to all such factors, the market for carbon foam in the region is expected to have a steady growth during the forecast period.
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The carbon foam market is partially consolidated in nature. Some of the major players in the market include Cfoam Ltd., Koppers Inc., POCO, Ultramet, Firefly International Energy, and others. (not in any particular order).
- In July 2021, Cfoam Ltd. entered into key partnerships with two US tertiary institutions based on enhancing the development of carbon foam products from coal.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Usage in the Aerospace Industry
4.1.2 Rising Demand for Carbon Foam Batteries from Electric Vehicle Application
4.1.3 Increasing Consumption in Building and Construction Materials
4.2.1 The high Cost of Production Process of Carbon Foam
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.2 End-user Industry
5.2.1 Aerospace and Defense
5.2.2 Building and Construction
5.2.6 Other End-user Industries
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.2 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.3.4 South America
22.214.171.124 Rest of South America
5.3.5 Middle-East and Africa
126.96.36.199 Saudi Arabia
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 American Elements
6.4.2 Carbon-Core Corporation
6.4.3 Cfoam Ltd.
6.4.4 ERG Aerospace
6.4.5 Firefly International Energy
6.4.6 Koppers Inc.
6.4.9 Xiamen Zopin New Material Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Potential Demand from Fifth Generation Stealth Fighter Aircraft
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Frequently Asked Questions
What is the study period of this market?
The Carbon Foam Market market is studied from 2017 - 2027.
What is the growth rate of Carbon Foam Market?
The Carbon Foam Market is growing at a CAGR of >5% over the next 5 years.
Which region has highest growth rate in Carbon Foam Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Carbon Foam Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Carbon Foam Market?
Cfoam Ltd., Koppers Inc., POCO, Ultramet , Firefly International Energy are the major companies operating in Carbon Foam Market.