Reinforced Carbon-Carbon Composite Market: An Overview
Reinforced carbon-carbon composite is an advanced material which has taken a rapid uptake in the past half-decade. Reinforced carbon-carbon composites are not only applied for automotive applications but also for electronics, energy and to manufacture industrial furnaces. Majority of the market in the past half-decade is captured by the automotive industry owing to their provision of light body in weight to the overall automotive produced. Properties such as flexural resistance and high mechanical strength favor the demand for the reinforced carbon-carbon-composite over CF and CFRP in automotive industry. Apart from the automotive industry, furnace market also caters the demand growth of reinforced carbon-carbon composites. Growing demands for high temperature resistance material has remained on top of the charts of industrial requirements. Thus the growing requisite of reinforced carbon-carbon composite in industrial application is set to grow at a two-digit CAGR over the forecast period.
Its application in electrical industry is also rising at a faster pace over high thermal conductivity ranging from 350 – 400 W/m-K which is slightly higher than the copper and varies 3 folds over comparison with iron and other materials available in the market. Ability to possess strength even at higher temperatures (>2000°C) makes it suitable for high temperature applications. Market growth of reinforced carbon-carbon composites depend on the prices of the product compared to its substitutes. Copper is a clear substitute of the product in majority of the applications and the price of the copper is comparatively lower than the composites and for the market to capture the larger market, manufacturers should reduce the cost of production.
COVID-19 to Shrink the Reinforced Carbon-Carbon Composite Market
COVID-19 or Novel corona virus has not only ceased the movement of the people but also negatively affected the production and trade. This has put the leash around the reinforced carbon-carbon composite market growth. Production of the reinforced carbon-carbon composite reduced by 20% over the 2nd quarter and the decline in the market is assessed with respect to the pipt stop taken by the automotive industry owing to the COVID-19. Decline in demand has contracted the prices by 3 folds over the period of mid-Q2 to the beginning of Q3. Further decline in prices is set to cross the break-even point hurting the manufacturer stance in the global market
Demand Spike from Automotive Parts Reinforced Carbon-Carbon Composite is set to drive the Market
Automotive sector captures majority of the demand of Reinforced Carbon-Carbon Composite. Market growth of reinforced carbon-carbon composite could be assessed with respect to the automotive industry growth. Q3 of FY2020 provided a major downfall to the reinforced carbon-carbon composite owing to the automotive recession across the globe. Q2 of FY2020 has proven a major backlash for the reinforced carbon-carbon composite growth. All in all in Q3 signs of recovery of the market is observed and the market is set to reach its original form by the mid-term forecast period.
Segmentation analysis of Reinforced Carbon-Carbon Composite Market:
The global reinforced carbon-carbon composite market is bifurcated into four major segments: matrix type, application, end-use industry and region.
On the basis of Matrix Type, Reinforced Carbon-Carbon Composite Market has been segmented as follows:
- Silicon Matrix
- Silicon Carbide Matrix
- Graphite Matrix
On the basis of application, Reinforced Carbon-Carbon Composite market has been segmented as follows:
- Automotive Components
- Furnace walls
- Fuselage components
- Rocket nozzles
On the basis of End-use industry, Reinforced Carbon-Carbon Composite market has been segmented as follows:
- Automotive Industry
- Electrical Industry
- Glass and Ceramics Industry
- Aerospace & Defence Industry
On the basis of geographic regions, Reinforced Carbon-Carbon Composite market is segmented as
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Reinforced Carbon-Carbon Composite Market: Regional Outlook
From regional perspective, Europe holds largest market share owing to the extensive utilization of reinforced carbon-carbon composite in automotive applications. High-end cars manufactured in Europe utilizes reinforced carbon-carbon composite to manufacture brake pads and brake disk. Followed by Europe, North America captures less than one-third of the global reinforced carbon-carbon composite market. Followed by North America, East Asia is growing at a rapid pace owing to the rising EV production in the region.
Regions such as Latin America and Middle East & Africa doesn’t have enough potential to penetrate the market till the end of the forecast period owing to the cost of the reinforced carbon-carbon composite.
Reinforced Carbon-Carbon Composite Market: Key Players.
Global reinforced carbon-carbon composite market is highly consolidated in nature with presence of only few manufacturers across the globe. Key players in market are focused towards conservative approach. These players aim to channel a scattering range of reinforced carbon-carbon composite suitable to different pharmaceutical and chemical industries via supplier route. Key players in global reinforced carbon-carbon composite market are Chemtrec, Fluorochem, FUJIFILM Wako Pure Chemical Corporation, Clearsynth, Msynth and others.
The research report presents a comprehensive assessment of the reinforced carbon-carbon composite market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The Reinforced Carbon-Carbon Composite Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Reinforced Carbon-Carbon Composite Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Russia, Poland & CIS)
- East Asia (China, Japan, South Korea)
- South Asia (India, Malaysia, Indonesia, Australia, New Zealand & Thailand)
- Middle East & Africa (GCC Countries, South Africa, Turkey)
The reinforced carbon-carbon composite report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The reinforced carbon-carbon composite report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The reinforced carbon-carbon composite report also maps the qualitative impact of various market factors on market segments and geographies.
The Reinforced Carbon-Carbon Composite Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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