Significant gains in conductive polymers market in light of rising awareness towards protection against electrostatic discharge (ESD) in electronic devices is expected to promote the usage of carbon materials with excellent properties including good conductivity. Furthermore, increasing R&D expenditure for the development of carbon foam to resist sulfation and corrosion in battery plates by electronics manufacturers including Firefly International Energy is expected to open new opportunities for growth over the forecast period. Growing demand for graphene oxide products on account of exhibiting excellent strength as well as permeability characteristics is expected to have a high impact.
Carbon nanotubes are incorporated in wind turbine rotors to increase the thermal conductivity of blades by over 80% on account of its one-dimension tubular structure, which induces excellent thermal, electric, and mechanical properties to the matrix. Furthermore, the addition of nanotubes plays a crucial role in improving lightning protection as well as inducing anti-moisture and anti-heat properties to wind turbines. In August 2015, Siemens announced plans to establish a production facility for offshore wind turbine components, with a capital expenditure of USD 221 million, at Cuxhaven, Germany. This development is expected to expand the market size of nanotubes over the forecast period.
Over the past few years, engineering fibers manufacturers have been increasing expenditure towards the development of materials which are capable of reducing energy consumption to the buyers located in automotive, construction, electronics and energy sectors. In January 2016, Toho Tenax developed a new technology for plasma surface treatment, utilizing CFRP to reduce energy consumption during the manufacturing automotive vehicles and aircraft. In November 2015, Oxean AB introduced a new carbon fiber under the brand name, Novel TeXtreme, which is capable of reducing weight by 20-30% in sports goods.
The high adoption rate of nanotechnology materials in the developed markets including the U.S., Germany, UK, and Japan in light of the new launch of carbon nanotubes and graphene on a domestic level is expected to have a substantial impact. Rising defense expenditure by the governments of China and India is projected to play a major role in promoting the production of military aircraft and helicopters on a domestic level. The abovementioned trend is likely to open new growth opportunities for the market over the next eight years.
In-depth report on global advanced carbon materials market by Grand View Research: