Hard Carbon Material Market To Reach USD 12.8 Billion By 2032, Says DataHorizzon Research

The hard carbon material market size was valued at USD 2.1 Billion in 2023 and is expected to reach a market size of USD 12.8 Billion by 2032 at a CAGR of 22.1%.

Fort Collins, Colorado, May 11, 2024 (GLOBE NEWSWIRE) —

The rising focus on sustainable energy solutions catalyzes market growth.

The increasing global focus on sustainable energy solutions serves as a significant catalyst for the hard carbon material market. Governments and organizations worldwide are establishing ambitious goals to diminish carbon emissions and encourage the adoption of renewable energy sources. For example, the European Union targets a 55% reduction in greenhouse gas emissions by 2030 compared to 1990. This transition toward cleaner energy sources has generated substantial demand for efficient and economically viable energy storage solutions like sodium-ion batteries, which utilize hard carbon as an anode material. According to the International Energy Agency (IEA) projections, the global energy storage market is anticipated to grow by 30% annually, reaching 125 GW by 2030.

While the energy storage sector remains the primary focus of the hard carbon material market, there are emerging opportunities in other applications. Hard carbon materials possess unique properties like high specific surface area, exceptional thermal stability, and good electrical conductivity, rendering them suitable for various industrial and environmental uses. For example, the United States Environmental Protection Agency (EPA) has reported using hard carbon materials as adsorbents for water and air purification. Additionally, a review article published in the journal “Carbon” in 2021 has highlighted the potential applications of hard carbon materials in catalysis, gas storage, and electrochemical sensors. These expanding applications introduce new avenues for growth in the hard carbon material market beyond the energy storage sector. 

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Segmentation Overview:

The hard carbon material market has been segmented into type, application, and region.

Li-ion battery is the leading application segment in 2023.

  • In 2023, the Li-ion battery registered substantial growth in the past. Lithium-ion batteries have been the dominant energy storage technology for several years, widely used in portable electronics, electric vehicles, and grid storage systems.

Petroleum-based is the leading segment in the forecast period.

  • In 2023, the petroleum-based segment accounted for a significant market share. This can be attributed to the well-established production processes and the readily available raw materials derived from petroleum sources. 

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Hard Carbon Material Market Report Highlights:

  • The hard carbon material market growth is anticipated at a CAGR of 22.1% by 2032.
  • Increasing demand for sustainable energy storage solutions drives the industry growth.
  • The dominance of the Asia-Pacific region can be attributed to the presence of major battery manufacturers, the rapid growth of the electric vehicle market, and supportive government policies promoting the adoption of clean energy technologies. 
  • Some prominent players in the hard carbon material market report include Kuraray Co., Ltd., Osaka Gas Chemicals Co., Ltd., Kureha Corporation, Shanghai Putailai New Energy Technology Co., Ltd., Shanshan Technology, Hunan Shinzoom Technology Co., Ltd., Hunan Zhongke Shinzoom Co., Ltd., Shenzhen BTR New Energy Materials Inc., Jiangxi Zichen Technology Co., Ltd., Carbotron Hoogwerkt Wenen GmbH, and Hitachi Chemical Co., Ltd.

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About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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Mail: sales@datahorizzonresearch.com

Ph: +1-970-672-0390

Website: https://datahorizzonresearch.com/

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