Future Market Insights recently published a market study on the carbon mold market that includes global industry analysis for 2014-2021 as well as market opportunity evaluation for the forecast period of 2022-2029. The market study provides critical insights and an in-depth market analysis for both the historical and projected periods. According to the report’s market assessment, the worldwide carbon mold market is expected to develop significantly due to rising demand from the aircraft and automotive production industries.
The global carbon mold market is expected to reach a value of approximately US$ 279.9 Mn by the end of 2022 and to develop at an 8.6% CAGR from 2022 to 2029.
Growing environmental concerns have shifted the trend toward renewable energy usage. Wind energy has transformed the renewable energy business as a result of increased government assistance. Carbon molds are utilized in the production of lightweight carbon fibre and carbon composite wind turbine blades. Carbon mold demand is expected to rise as wind turbine installations and wind energy installation projects expand around the world.
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Opportunities Abound in East Asia and South Asia
East Asia and South Asia, led by China and India respectively, are likely to witness substantial growth in commercial as well as defense aerospace sectors. Increasing military budget will primarily affect the defense aircraft manufacturing activities in the region, and it is likely to lead to upsurge in the demand for carbon mold. Installation of wind turbines has increased significantly in recent years, especially in China, India, and ASEAN countries, which will continue to work to the advantage of the carbon mold manufacturers.
Increasing government regulations for the development of fuel-efficient vehicles and aircrafts in North America and Europe, have increased the demand for carbon composites. Predominance of automotive and aerospace industries and increasing adoption of carbon composites make North America and Europe prominent markets for carbon molds.
Carbon Fiber to Remain a Prominent Material Choice
The global carbon mold market has been categorized on the basis of material, different types of mold, and application, along with regions.
- Based on material, carbon fiber is projected to remain the material of choice in the upcoming years, and subsequently hold a prominent share in the global carbon mold market throughout the forecast period.
- On the basis of mold, the female mold is estimated to hold more than half of the market share owing to its cost effectiveness.
- High application potential of carbon mold has been identified in aerospace & defense, followed by automotive & transportation. Increasing incorporation of carbon composites in automotive & aerospace industries is a prime factor responsible for the carbon mold market growth.
Carbon Mold Market: Manufacturer Insights
According to the FMI analysis, the global carbon mold market is heavily fragmented with local and regional players playing key roles. The global carbon mold market report sheds light on few of the key industry players in the global carbon mold market. Some of the examples of key players in the market are MDC Mould & Plastic Co., Ltd., DEXCRAFT, Xiamen Fengjin Mold Industry Co., Ltd., Composite Mouldings Ltd., and DC Composites, among others.
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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
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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