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Carbon fiber market growing at 8%

Time:2017-01-04  Source:兴科亿

The global market for carbon fibers is growing by more than 8% per year through 2020, according to new research from IHS Markit.

This growth is due to industrial applications such as the manufacturing of aircraft, automobiles, pressure vessels, wind turbines and sporting goods, the market analyser suggests. IHS Markit also expects global consumption of carbon fibers to grow from over 60 thousand metric tons (TMT) in 2015, to approximately 90 TMT by 2020.

‘Major advances in technology and processing have dramatically expanded the demand for high-performance carbon fibers,’ said Michael Malveda, director at IHS Markit, and lead analyst of the report entitled: Carbon Fibers: Chemical Economics Handbook. ‘And the introduction of higher-volume and lower-cost fibers, coupled with gains in productivity, has reduced the manufacturing costs of carbon fibers. Cost is a major factor affecting demand, and as costs come down, we are seeing demand growing significantly.’

Malveda said aircraft and automotive manufacturers, who face environmental and regulatory pressures to reduce weight, improve energy efficiency and reduce carbon emissions, are helping drive demand growth for carbon fibers. Automotive and industrial/wind applications currently consume more than 60% of global carbon fiber demand, according to the IHS Markit study, and carbon fiber demand in this sector will grow at an average annual rate of nearly 9% during 2015 to 2020. World demand in aircraft and aerospace applications surpassed sporting goods/recreation to become the second-largest market for carbon fibers in 2011 to 2012, Malveda said.

‘Carbon fibers are increasingly being used in commercial and military aircraft manufacturing,’ he said. ‘They are used in the construction of the main body, the wings, engines, etc., and can result in less aircraft weight and lower fuel consumption. In addition, carbon fiber enables higher aircraft speeds and longer distance ranges.’