Carbon fiber (CF) is used as a reinforcement material in composites. Carbon fiber reinforced plastic (CFRP) composites, offer a higher strength-to-weight ratio and stiffness-to-weight ratio than many structural materials. Lightweight, high-strength, and high-stiffness composite materials are crucial for the development of an energy efficient transportation industry, enabling vastly improved power generation, new mechanisms for storing and transporting reduced carbon fuels, and enhancing renewable power production.
They are also increasingly used in wind turbines, aerospace (commercial and military aircraft, space launch vehicles), and pressure vessel industries for increased strength to weight and stiffness. Other markets are sports & leisure composites (skis and snowboards, bicycles and hockey sticks) and construction. Their demand in aviation and automotive industries is growing fast, especially in Asia.
Demand for CF will continue to grow, with global demand exceeding 77,000 tons in 2018 and growing to more than 150,000 tons by 2025. Combined global production capacity is currently more than 140,000 tons.
A number of producers have increased capacity in 2018, and Kangde (66,000 tons), Toray (62,000 tons) and SGL Group (49,000 tons) will greatly grow their capacity over the next few years. Other companies with expansion plans include Hexcel, DowAska and Hyosung. Toray purchased CF components manufacturer TenCate Advanced Composites Holding in March 2018 for $1 billion.
Report contents include:
1 EXECUTIVE SUMMARY
1.1 The current market 9
1.2 Innovation in the carbon fiber market 11
1.3 Carbon fiber capacities.11
1.4 Capacity expansion in the near future 12
1.5 End user markets for CF 13
1.6 Global market size and revenues, 2015 to 2025.15
1.6.1 Carbon fiber demand15
1.6.2 Global demand for carbon composites 17
1.7 Key market trends 2016 to 2018 18
2 RESEARCH METHODOLOGY
2.1 Scope of the report20
2.1.1 Objective of the report 20
2.1.2 Methodology 20
3 INTRODUCTION
3.1 Carbon fiber: materials and manufacturing 22
3.1.1 Structure and properties 22
3.1.2 Composites 23
3.1.3 Types of carbon fibers 24
3.1.4 Matrix materials 25
3.1.5 Reinforcement materials 27
3.1.6 Semi-Finished Products 30
3.1.7 Manufacturing processes31
3.1.8 Applications 37
4 THE CARBON FIBER INDUSTRY
4.1 The market in 201739
4.2 The market in 201840
4.3 Growth to 202540
4.4 Markets for carbon fiber42
4.4.1 Traditional markets 42
4.4.2 Growth markets 42
4.4.3 Pricing 43
4.5 MARKET SUPPLY CHAIN 44
4.6 MARKET DRIVERS 46
4.7 MARKET CHALLENGES 48
4.8 COMPETITIVE LANDSCAPE FOR CARBON-BASED ADDITIVES WITH NANOMATERIALS
5 CARBON FIBER MARKET, BY APPLICATIONS
5.1 Automotive56
5.2 Aerospace and aviation58
5.3 Wind turbines 60
5.4 Sport and leisure equipment 61
5.5 Civil engineering 63
5.6 Compressed gas storage 65
5.7 Other 67
6 CARBON FIBER MARKET, BY REGION 69
6.1 Europe69
6.2 North America 70
6.3 Asia-Pacific 71
6.3.1 Japan 71
6.3.2 China 72
7 CARBON FIBER MARKET BUSINESS TRENDS 2016 TO 2018
8 COMPETITIVE ANALYSIS 74
8.1 Key players 74
8.2 Market share analysis 74
9 CARBON FIBER PRODUCER PROFILES 75 (20 company profiles)
10 REFERENCES
TABLES
Table 1 Global carbon fiber capacities, by company 2018.12
Table 2Planned carbon fiber capacity expansions 12
Table 3 Global carbon fiber market revenues and forecast, 2010-202515
Table 4 Types of carbon fiber, based on properties 24
Table 5Manufacturing Techniques for Carbon Fiber Reinforced Polymer.33
Table 6Properties of CF and applications thereof 37
Table 7 Market supply chain for carbon fiber 44
Table 8 Market drivers for the carbon fiber industry 46
Table 9Market challenges for CF market48
Table 10Comparative prices of competive materials in composites 50
Table 11Key players in carbon nanotubes 50
Table 12Key players in graphene 52
Table 13 Global carbon fiber production and capacity, forecast to 2030 55
Table 14Market drivers for use of CFs in the automotive market 56
Table 15Applications of CF in the automotive market57
Table 16Demand for CF in the automotive market to 2025 in tons 57
Table 17Market drivers for use of CFs in the aerospace and aviation market 58
Table 18Applications of CF in the aerospace and aviation market58
Table 19Demand for CF in the aerospace and aviation market to 2025 in tons 58
Table 20Market drivers for use of CFs in the wind turbines market 60
Table 21Applications of CF in the wind turbines market 60
Table 22Demand for CF in the wind turbines market to 2025 in tons 60
Table 23Market drivers for use of CFs in the sports equipment market 61
Table 24Applications of CF in the sport and leisure equipment market 61
Table 25Demand for CF in the sport and leisure equipment market to 2025 in tons 62
Table 26Market drivers for use of CFs in the civil engineering market63
Table 27Applications of CF in the civil engineering market 63
Table 28Demand for CF in the civil engineering market to 2025 in tons 64
Table 29Market drivers for use of CFs in the compressed gas storage market 65
Table 30Applications of CF in the compressed gas storage market 65
Table 31Demand for CF in the compressed gas storage market to 2025 in tons 66
Table 32Market drivers for use of CFs in other markets 67
Table 33Applications of CF in the other markets.67
Table 34Demand for CF in other markets to 2025 in tons67
Table 35Demand for carbon fiber in Europe in tons 2015-2025 69
Table 36Demand for carbon fiber in North America in tons 2015-2025 70
Table 37Demand for carbon fiber in Asia-Pacific in tons 2015-2025 71
Table 38Demand for carbon fiber in Japan in tons 2015-2025 71
Table 39Demand for carbon fiber in China in tons 2015-2025 72
Table 40: Carbon fiber market business trends 2016-201873
Table 41: Carbon fiber market share, by leading producers 74
Table 42Key players in carbon fibers, location and capacities 75
FIGURES
Figure 1 Carbon fiber capacity by company 2018.12
Figure 2 Global carbon fiber market demand in 2018, by end user markets14
Figure 3Global market for carbon fiber (metric tons), 2015 to 2025 16
Figure 4Global demand for carbon composites 17
Figure 5 Global market for carbon fiber (revenues), 2014 to 2025.17
Figure 6Specific stiffness and specific strength for various materials 24
Figure 7Global CF market by matrix materials 27
Figure 8.Carbon fiber composite manufacturing technologies and their applications 31
Figure 9 Current carbon fiber production steps 31
Figure 10Global demand for carbon fiber in 2017, by end user market 39
Figure 11Global demand for carbon fiber in 2018, by end user market 40
Figure 12Global demand for carbon fiber in 2025, by end user market 40
Figure 13 Global carbon fiber production and capacity, forecast to 2025 54
Figure 14 Global carbon fiber market by application in 2017 55
Figure 15Demand for CF in the automotive market to 2025 in tons 58
Figure 16Demand for CF in the aerospace and aviation market to 2025 in tons 59
Figure 17Demand for CF in the wind turbines market to 2025 in tons.61
Figure 18Demand for CF in the sport and leisure equipment market to 2025 in tons 62
Figure 19Demand for CF in the civil engineering market to 2025 in tons 64
Figure 20Demand for CF in the compressed gas storage market to 2025 in tons 66
Figure 21Demand for CF in other markets to 2025 in tons 68
Figure 22 Global carbon fiber regional demand in tons, 2015 to 2025 69
Figure 23Demand for carbon fiber in Europe in tons 2015-2025 69
Figure 24Demand for carbon fiber in North America in tons 2015-2025 70
Figure 25Demand for carbon fiber in Asia-Pacific in tons 2015-2025 71
Figure 26Demand for carbon fiber in Japan in tons 2015-2025 72
Figure 27Demand for carbon fiber in China in tons 2015-2025 72
Figure 28 Main global rubber carbon fiber producers market share by capacity75