Global Carbon Mold Market: Overview
The demand within the global carbon mold market is growing on account of advancements in chemical testing and analysis. The presence of a sound industry for carbon testing and analysis has aided the growth of the global carbon mold market. The use of composites in the aerospace industry is the primary driver of demand within the global market. Carbon molds come in handy during the process of automotive manufacturing. This factor, coupled with the need for improved carbon fibers and composites, has given a thrust to market growth. Various forms of graphite are also used in multiple industries, and this factor has reinstated the potential of the global carbon mold market.
Transparency Market Research (TMR) looks into the resonant dynamics of growth pertaining to the global carbon mold market. The global carbon mold market can be segmented on the basis of type, end-use industry, and region. Based on end-use industry, the aerospace industry has emerged as a key consumer of carbon molds.
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Global Carbon Mold Market: Notable Developments
The multiplicity of usage for carbon molds across several industries has given rise to a plethora of opportunities for market players.
- The Zero SR/F electric streetfighter vehicle from Zero Motorcycles has witnessed a complete overhaul in design from a local expert. Nick Graveley has lately introduced a full-clay model of the bike, and has used multiple techniques for its design and conception. The use of carbon molds is evident from the fine design and finish of the bike. Such developments have helped the market vendors in popularising the use of carbon mold across various industries.
- Nukeproof, the renowned bike company, has revealed key details about the Mega 290 Carbon model of bikes. Belonging to the Enduro World Series circuit, the model has been developed after extensive research on the carbon composition of the final product.
Some of the prominent vendors operating in the global carbon mold market are:
- Composite Mouldings Ltd.
- Xiamen Fengjin Mold Industry Co., Ltd.
- DC Composites
Global Carbon Mold Market: Growth Drivers
Advancement in Textile Manufacturing
There is little doubt about the relevance of textiles in multiple industries. The use of carbon fibers in the textile industry has, therefore, emerged as a key driver of demand within the global carbon mold market. Furthermore, the energy industry is also a prominent consumer of carbon molds. The ever-expanding size and scope of the energy sector is a matter of importance for the market vendors.
Growth of the Aerospace Industry
Carbon molds are extensively used in the defense and aerospace sector. Quality checks related to the manufacturing of aircrafts, drones, and reconnaissance equipment have pushed market growth. Defense companies are making fundamental changes to their system of quality checks. This trend has necessitated the use of high-quality carbon fibers. Therefore, the total volume of revenues within the global carbon mold market is expected to touch new heights. Optimization of carbon composites to fit the requirements of the end-use industry has also transcended as a prominent trend.
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The automotive industry is characterised by continual innovation and disruptions. Each automotive vendor is driven by the quest to add value to their products. For this reason, the investment index of the automotive industry is higher relative to other consumer goods industries. Since the automotive industry consumes carbon molds in high volumes, it is safe to infer that the global market would continue to grow in size and revenues.
Global Carbon Mold Market: Geographical Analysis
Global carbon mold market is expected to witness robust growth in North America region. The rising interest among consumer in next-gen vehicles, and increasing move by major auto manufacturers towards these trends, and growing interest in carbon molds to increase fuel-efficiency are likely to remain key drivers for growth of the market. Additionally, the global carbon mold market is also expected to witness major growth in Asia Pacific. The rise of auto sales, the lack of expansion in many new markets, and rising disposable incomes are expected to drive growth of the carbon mold market in the region. Additionally, countries like China are also investing large sums in innovating resulting in new technologies which is expected to drive growth of electric vehicles, autonomous vehicles, among others.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.