U.S. Structural Carbon to See 6.4% Annual Growth Through 2023
December 18, 2018
WELLESLEY, Mass., Dec 18, 2018 –Softening prices and the specter of price fixing are two factors influencing the American advanced structural carbon products market, according to a report by BCC Research.
The industry expects to see a compound annual growth rate (CAGR) of 6.4% through 2023, when it is expected to reach nearly $3.9 billion, according to the report “The U.S. Market for Advanced Structural Carbon Products: Fibers, Foams and Composites.”
Major players in the market mentioned in this report include Honeywell (HON), Toray (TRYIF), Touchstone, Goodrich, Hexcel (HXL), Cytec, Aerospace Composite Products, Boeing (BA), Fiber Materials, General Motors (GM) and Morgan Advanced Materials (MGAM).
Research Highlights
- Carbon fibers are the largest selling type of structural carbon material in the U.S. market in terms of value and made up the second-largest U.S. market share in 2017.
- Carbon foams are a relatively new class of structural carbon material whose share of the market is projected to remain low through 2023. Structural applications of graphene have not yet reached the market but will account for a significant share of the U.S. market by 2023.
- The top three suppliers of carbon fiber to the U.S. market (Hexcel, Toray and Cytec) supplied about half of the U.S. market’s requirements in 2017. A number of smaller suppliers shared the rest of the market, including SGL Group, Toho Tenax America Inc. and Zoltek, which was acquired by Toray in March 2014.
“The structural carbon materials industry serves mature markets such as defense and aerospace, with a wide variety of products satisfying the requirements of well-established applications,” the report notes. “However, continuous technical innovations and efforts to make structural carbon technologies available for new applications, at affordable prices, are leading to the development of new markets. Corporations in the structural carbons industry need to understand the significance of these trends to manage their enterprise and resources effectively.”
Market Opportunities Include Wind Energy, Emerging Structural Materials
The market has several exciting prospects on the horizon, according to the report. The chief prospect is the U.S. government’s backing of wind energy generation, which relies heavily on structural carbons. Increasing levels of penetration by structural carbons into sectors such as wind energy turbines and civil construction will boost consumption significantly. Meanwhile, emerging structural materials such as carbon foams will allow the market to expand the scope of its commercial applications in the future.
Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.
The U.S. Market for Advanced Structural Carbon Products: Fibers, Foams and Composites( AVM038G )
Publish Date: Nov 2018
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.
BCC Library Membership Benefits
Unlimited Access to Market Research Reports for Academic Institutions and Corporations.
Custom Research
Tailored solutions across industries for your unique business needs.
More in Advanced Materials
- Advanced Materials Market in Focus: BCC Research Publishes 2024 Sector Review
- High-Performance Ceramic Coatings Market to Reach $13.9 billion by 2029
- Aerospace Materials Industry on the Rise: Forecasted to Reach $42.9 Billion by 2029
- Activated Carbon Market: Types, Growth, and Global Demand
- Impact Modifiers Market Poised for 5.7% CAGR Growth, Driven by Demand in Plastics and Polymers
Reports from Advanced Materials
Recent News
- 2024 Packaging Research Review: Trends That Will Shape the Future
- Global Bioplastics Market Accelerates Toward 5,634.6 Kilotons by 2029
- BCC Research Projects 5% CAGR for Global Polyester Resin Market Through 2029
- Roll-to-Roll Technologies for Flexible Devices Set to Grow at 11.5% CAGR
- Chemicals for Cosmetics & Toiletries to Reach $35.0 Billion by 2029: Global Market Trends