Sponsored By

A new report from Research and Markets cites the wind energy, aerospace and defense and sports and leisure sectors as the key growth drivers for carbon fiber. This year, these sectors are forecast to consume 11,300 tonnes , 9,400 tonnes and 8,300 tonnes, respectively.

PlasticsToday Staff

November 25, 2013

2 Min Read
Carbon fiber demand driven by non-auto applications

A new report from Research and Markets cites the wind energy, aerospace and defense and sports and leisure sectors as the key growth drivers for carbon fiber. This year, these sectors are forecast to consume 11,300 tonnes , 9,400 tonnes and 8,300 tonnes, respectively.

Global demand for carbon fiber reinforced plastics (CFRP), meanwhile, was estimated at around 67, 000 tonnes in 2012, and is expected to maintain a 2012-2020 CAGR of 15.3% to reach 210, 000 tonnes by 2020 according to the report. In terms of value, demand for CFRP, estimated at $10.25 billion in 2012 is expected to record a CAGR of 11.9% over 2012-2020 in reaching US$25.2 billion by 2020.

carbonfiber.jpg

Full carbon fiber composite body weighs one-fifth that of a steel body, but cost is a limiting factor in mass market deployment.

In tandem with the CFRP market, global demand for carbon fibers, estimated at 45,000 tonnes in 2012 and forecast to be 51,700 tonnes in 2013, is further projected to reach 141,000 tonnes by 2020, registering a 2012-2020 CAGR of 15.4%. In terms of value, consumption of carbon fibers globally was estimated to stand at US$2.03 billion in 2012 and projected to reach around US$5 billion by 2020.

The study reviews, analyzes and projects the global market for carbon fibers and CFRPs for the period 2008-2020 while also discussing global carbon fiber installed capacities. The report also focuses on current market trends and future strategies of the industry.

Markets for carbon fibers and CFRPs application areas analyzed in the study include aerospace and defense, sporting goods and leisure, and industrial applications such as automotive, wind energy, pressure vessels, construction and infrastructure, compounds for electrical/electronic applications, and oil and gas applications. Further, the report estimates and projects the global market for both CFRPs and carbon fibers for the period 2008-2020, in terms of volume as well as value by geographic regions including North America, Europe, Japan, Asia and rest of world.

The $4,950, 507-page report features 74 key global players comprising 27 carbon fiber, six recycled carbon fiber and 41 carbon fiber composite manufacturers. The report includes a listing of 54 companies that are engaged in manufacturing of carbon fibers, recycled carbon fibers, carbon fiber precursors and low-cost carbon fiber research and development. The study also provides a global list of 209 carbon fiber composites players.

Sign up for the PlasticsToday NewsFeed newsletter.

You May Also Like