Long-range Ordered Porous Carbon Market Size

Long-range Ordered Porous Carbon Market is expected to reach USD 340 Million by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In 2023, the industry size was USD 270 Million. The rising shift toward renewable energies across the world will propel the market massively. The newest edition of the World Energy Outlook (WEO), the most authoritative international source of energy assessment and outcrops, explains an energy system in 2030 in which clean technologies play a substantially better role than recently. This comprises almost 10 times as many electric cars on the road globally; solar PV producing more electricity than the total US power system does recently; sustainable sources share of the international electricity mix approaching 50%, up from roughly 30% recently.

Another reason that will propel the long-range ordered porous carbon market by the end of 2036 is the increasing consumption of wind energy across the world. In 2022 wind electricity production increased by a record 265 TWh (increased 14%), touching over 2 100 TWh. This was the second-highest expansion among all sustainable power technologies, backside solar PV. However, to be in pursuit of the Net Zero Emissions by 2050 Scenario, which envisions roughly 7,400 TWh of wind electricity production in 2030, the average yearly production expansion rate is required to rise to about 17%. Wind electricity production has increased substantially in the past 30 years. Progresses in wind energy technology have limited the cost of wind electricity production. Government needs and financial inducements for sustainable energy in the United States and other countries have delivered to the growth in wind power. Wind energy presents many benefits, which describes why it's one of the quickest-increasing energy sources in the world.