The global carbon mold market is projected to attain a valuation of USD 304.21 million in 2023 and is estimated to reach USD 694.18 million by 2033 while exhibiting a CAGR of 8.6% during the forecast period.
Carbon Mold can be manufactured using many materials Carbon fiber and graphite are the examples of most common materials used in carbon mold. Carbon molds are used for molding carbon composite parts used in a variety of applications.
As per the latest study on the global carbon mold market conducted by Future Market Insights. North America has emerged as the leading consumer of carbon molds followed by East Asia and Europe. Owing to the strong presence of end-use industries in the regions, this region creates a robust demand for carbon molds. Demand is expected to witness high growth in emerging economies over the upcoming assessment period of 2023 to 2033.
The demand for carbon molds was primarily driven by the automotive sector growth outlook globally. The need for lightweight, durable materials is increasing quickly in response to rising fuel prices and the demand for fuel-efficient vehicles, which is anticipated to boost sales of carbon composite parts and ultimately benefit the carbon mold industry.
The aerospace industry also applied a substantial amount of force to push the demand for carbon molds toward the higher side. To overcome various industry challenges such as fuel scarcity, and durable and lightweight components, researchers are relying on and heavily investing in carbon composites.
Sales of carbon composites are expected to dramatically increase during the study's assessment period as consumer electronics production has picked up speed. However, the growth outlook of the market is also expected to witness certain challenges including raw materials price fluctuations, stringency in the regulations and standards, and others that are expected to impact the market growth trend.
| Report Attributes | Details |
|---|---|
| Expected Market Value (2023) | USD 304.21 million |
| Anticipated Forecast Value (2033) | USD 694.18 million |
| Projected Growth Rate (2023 to 2033) | CAGR 8.6% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The market of carbon molds was worth USD 207.27 million in 2018 and it reached a valuation of USD 279.9 million in 2022 while securing a CAGR of 7.8% during the forecast period.
The Asia Pacific region observed substantial development in the automotive industry. According to the China Automobile Dealers Association, around 277,000 luxury cars were retailed in April 2020 perceiving an 11.1% increase as compared to the previous year. However, manufacturers are converging on more and more innovations to retain their foremost positions in the carbon mold market.
The increase in demand for fuel-efficient cars in accordance with rising fuel prices demand for lightweight durable materials is rising at a rapid pace which is expected to elevate the sales of carbon composite components eventually benefitting the carbon mold market. Moreover, the Aerospace industry is consistently indulged in research and development activities to produce highly durable lightweight components to enhance aircraft fuel efficiency owing to growing fuel scarcity across the globe. Carbon composites have emerged as the most viable aerospace lightweight material and are being used by various manufacturers to reduce the weight of their components.
Following the aerospace industry, the automotive industry also creates a huge demand for carbon molds which are utilized to cast innovative lightweight components to enhance the fuel efficiency of vehicles without compromising the strength of vehicles and the safety of passengers.
The demand outlook for Carbon Mold Market has witnessed a CAGR of 7.8% during the historical assessment period. The market would have performed better but owing to the drag force in 2020 created by the global pandemic of COVID-19 the market witnessed a sudden drop in growth rate. However, The market is expected to recover fully in early 2023 and gain traction at pre-crisis levels soon.
Emerging Trends Shaping the Carbon Mold Market: Recycled Composites and DIY Start-ups
There are various trends that have their own significance and level of impact on the carbon mold market. Key manufacturers are engaged in developing new and alternative ideas to recycle carbon composites to develop products requiring lightweight properties more as compared to strength. Key manufacturers have come up with ideas to manufacture tennis rackets, golf clubs, and other sports and leisure activities with recycled carbon composites.
In addition, over some recent years, ‘Do It Yourself’ mold manufacturing activities have witnessed decent growth owing to the availability of online tutorials and ample of literature regarding mold manufacturing. Do It Yourself activities have led to the emergence of small and medium-scale start-ups. The easy availability of raw materials is supporting the growth of such activities.
Increasing adoption of carbon composites and favorable government policies in emerging markets are supporting the growth of start-ups has emerged as a key trend in the global carbon mold market which is expected to elevate the demand for carbon molds over the upcoming assessment period of 2023 to 2033.
Principal Consultant
Wind Power Unleashed: Paving the Way for Carbon Mold Market Growth
Improved environmental consciousness has elevated the demand for renewable sources of energy, which has surged the adoption of wind power plants as a key source of energy. Over some recent years, global change of energy systems to renewable energy is observed, and wind energy is an important force in this development.
According to Global Wind Energy Council (GWEC), by the end of 2020, the global wind power capacity reached the mark of 743 Gigawatt (GW) with the addition of 93 GW capacity in 2021. In 2020, wind energy installations grew at a rate of 53%. Growing governmental initiatives and promotion of wind power installation are expected to elevate the installation rate at a rapid pace over the forecast period.
While the wind energy markets in key countries of Europe were showing weak development, at the same time the wind energy market witnessed significant growth in countries such as China, India, and Brazil along with other countries in Asia. Increased installations of wind turbines have boosted the demand for carbon composites, which, in turn, is expected to positively influence the growth of the carbon mold market.
The electronics industry has witnessed robust growth in recent times owing to the swiftly rising demand for consumer electronic products. The electronic industry has registered swift growth in recent years.
Production of computers, PCBs, mobile phones, and other electronic devices, among others, as well as consumer electronics and appliances, displays, etc., accounts for a significant share of the overall electronics output. Moreover, increasing focus on the adoption of advanced technologies and the growing trend of miniaturization, better thermal management, increased speed, and performance of products is increasing the adoption of carbon composites in consumer electronics. One-of-a-kind properties of carbon composites are giving them an upper hand over the traditionally used fiberglass.
Carbon composites have a unique combination of lightweight and high strength, owing to which, they are primarily gaining traction in the electronics industry. Along with weight reduction, carbon composites also offer an aesthetic look to electronic products. Increased adoption of carbon composites for the development of consumer electronics is estimated to raise the demand for carbon molds.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
United States Market Soars with Automotive and Aerospace Demand
In 2023, the United States Carbon Mold Market is expected to register 8.5% year-on-year growth by value. An increase in automotive vehicle production in the country creates significant demand for lightweight components which in turn fuels the demand for Carbon Mold Market.
The United States is the leading consumer of carbon molds across the globe. The country creates a huge demand for carbon composite components owing to the strong presence of automobile, aerospace, defense, and other end-use industries. Substantial growth in United States industries is expected to fuel the demand for carbon molds in the country over the upcoming assessment period of 2023 to 2033.
Germany Leads the Way in Europe with Expanding Automotive Demand
Germany is projected to account for 25% of the Europe Carbon Mold Market share in 2033. The market in this region is expected to expand at a CAGR of 8.4% during the forecast period. High awareness among the population across Europe especially in Germany proves the country a lucrative market for carbon molds.
High automotive production capacity across the country and various stringent regulations on proper combustion of fuel and pollution reduction in Germany are elevating the demand for lightweight automotive components which is expected to upsurge the demand for carbon composites and carbon molds in the country during the upcoming assessment period of 2023 to 2033.
Carbon Fiber Driving Growth with a Significant CAGR
Based on material type, carbon fiber is the most grossing and widely used material type used in carbon molds. The segment is anticipated to hold more than 48% of the global market by value by end of the forecast period. The demand for carbon fiber is projected to rise with a CAGR of 9% during the forecast period.
Various advantages and characteristics offered by carbon fiber are expected to be the key factor promoting the growth of the segment over recent years. Graphite is anticipated to hold the second-largest share of the global market.
Although male molds are of lower cost and are consumed less time in terms of the molding process, the outer texture is not so smooth and requires external finishing touch for a superior finish. However, on the other hand, Female carbon molds are more costly but offer substantial finish over the outer surface. By the use of female molds, the finishing time is significantly reduced.
Owing to this reason female carbon molds are preferred over male carbon molds and are expected to hold more than 66.8% market share in the global market. The demand for female molds is expected to rise with a CAGR of 9.2% during the forecast period.
The key industry players are 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:
| Report Attributes | Details |
|---|---|
| Market Value in 2023 | USD 304.21 million |
| Market Value in 2033 | USD 694.18 million |
| Growth Rate | CAGR of 8.6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material Type,Mold Type,Application,Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa |
| Key Countries Profiled | United States,Canada,Brazil,Mexico,Germany,United Kingdom,France,Spain,Italy,Russia,Poland,Czech,Republic,Romania,China,Japan,South Korea,India,Bangladesh,Australia,New Zealand,GCC countries,South Africa,Israel |
| 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 |
| Customization & Pricing | Available Upon Request |
The carbon mold market is valued to attain a valuation of USD 304.21 million in 2023 and is estimated to reach USD 694.18 million by 2033.
Some of the key players in the carbon mold market are MDC Mould & Plastic, DEXCRAFT, Xiamen Fengjin Mold Industry, Composite Mouldings, and DC Composites.
The carbon fiber sheet molding compound (CFSMC) segment is the largest and is likely to remain preferred through 2033.
Players opt for mergers and acquisitions, as well as partnerships and collaborations.
India, China, and Japan dominate the Asian market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 5.1. Carbon Fiber 5.2. Graphite 5.3. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Mold Type 6.1. Male 6.2. Female 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Aerospace & Defense 7.2. Automotive & Transportation 7.3. Electronics & Semiconductor 7.4. Energy 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. MDC Mould & Plastic Co, Ltd 18.2. DEXCRAFT 18.3. Mouldbox 18.4. Diversified Plastics, Inc. 18.5. Xiamen Fengjin Mold Industry Co., Ltd. 18.6. Composite Mouldings Ltd 18.7. DC Composites 18.8. MCT Carbon 18.9. Curley Specialised Mouldings 18.10. CF Composites 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Chemicals & Materials Insights
View Reports
Carbon Mold Market
