Global Market for Carbon Fibers to 2025

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:

• In depth technology assessment including materials, manufacturing methods and competitive landscape.
• Quantitative carbon fiber market forecasts to 2025, globally, by end users markets and regions.
• Global production capacities, by producer, current and planned.
• Market trends 2016-2018 including deals, mergers, acquisitions and all major news.
• Market drivers challenges, by end user markets.
• In-depth key player profiles, include products, current capacities and plans for new capacities. Companies profiled include Toray, Hexcel, DowAska, Hyosung and Mitsubishi.

Global Market for Carbon Fibers to 2025
TABLE OF CONTENTS

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