The global carbon mold market revenue is anticipated to reach a valuation of USD 304.21 million in 2023 and is projected to accumulate over USD 694.18 million by 2033 while securing a CAGR of 8.6% during the forecast period.
The demand for closed molding composites produced through compression molding is on the rise in various industries, including construction, transportation, and electrical & electronics. These composites are sought after for their superior surface polish and non-corrosive properties, which are essential in these industries. Additionally, composites serve as effective insulators due to their poor heat and cold conductivity. They are further employed in the building sector for panels, doors, and windows, providing additional protection against severe weather conditions.
Closed molding composites such as carbon molds offer numerous advantages over other composites, such as enhanced rigidity, superior electrical conductivity, better temperature performance, higher tensile strength, increased chemical resistance, and reduced weight. These exceptional qualities make them a preferred choice for aerospace and defense applications.
Compared to most woods and metals, composites are lightweight, making them highly attractive for various industries. Advanced composite materials have a long-standing history in the military and aerospace sectors. The military aviation field extensively utilizes composite materials in thermal, chemical, mechanical, and ballistic applications, with a specific focus on fiber-reinforced plastic composites.
The increasing popularity of renewable energy is driving the global demand for carbon molds, particularly in the wind energy industry during the forecast period. The growing need for long and lightweight wind turbine blades presents opportunities for the utilization of carbon fiber composites in this sector.
The widespread implementation of stringent environmental regulations in both developed and developing countries has led to the high adoption of environmentally friendly building materials. Carbon fibers and related composites are favored for their lightweight properties and improved fuel efficiency. Consequently, the luxury and sports car market is experiencing increased demand for activated carbon fibers.
Carbon fiber is extensively utilized in the automotive sector for the production of 3D-printed car parts. This filament enhances the rigidity and strength of the components, making them incredibly powerful. The incorporation of carbon fiber in 3D-printed items is anticipated to result in significantly lighter and more dimensionally stable parts, as the fiber helps prevent shrinking during the cooling process.
Key Takeaways from the Market Study
- The market in the United States is expected to expand at a CAGR of 8.5% during the forecast period.
- Germany is expected to account for over 25% market share of Europe by 2033.
- By material type, carbon fibers are expected to account for over 48% market share by the end of the forecast period.
“Increasing demand for lightweight composite materials from the automotive industry is expected to drive the demand for carbon molds during the forecast period,” comments an FMI analyst.
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Competitive Landscape in the Carbon Mold Market
To meet consumer demands effectively, major market players are collaborating closely with end users. Manufacturers are also offering design and consulting services to customers, aiming to enhance their market position both globally and regionally.
Key Companies Profiled
- MDC Mould & Plastic Co, Ltd
- DEXCRAFT
- Mouldbox
- Diversified Plastics, Inc.
- Xiamen Fengjin Mold Industry Co., Ltd.
- Composite Mouldings Ltd
- DC Composites
- MCT Carbon
- Curley Specialised Mouldings
- CF Composites
Some recent developments in the carbon Mold market are:
- In September 2022, Solvay unveiled LTM 350, an advanced epoxy prepreg carbon fiber tooling material aimed at providing substantial cost and time savings in the aerospace, industrial, automotive, and race car markets.
- In February 2021, Teijin Limited introduced the Tenax BM (beam series) and Tenax PW (power series) brands of carbon fiber intermediate materials, specifically designed for sports applications.
- In August 2022, the National Institute for Aviation Research (NIAR) at Wichita State University and Solvay joined forces to establish a manufacturing innovation center.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global carbon mold market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the carbon mold market, the market is segmented on the basis of material type, mold type, application and region.
Carbon Mold Market Key Segments
Material Type
- Carbon Fiber
- Graphite
- Others
Mold Type
- Male
- Female
Application
- Aerospace & Defense
- Automotive & Transportation
- Electronics
- Energy
- Others
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
- Emerging Countries
Read Complete Research: https://finance.yahoo.com/news/global-carbon-mold-market-size-133000818.html
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