Development of carbon fiber

Carbon fiber has reliable performance, light weight and cost-effectiveness, especially high strength, low thermal expansion and corrosion resistance make it possible to be used in many fields. Therefore, the industry is expected to flourish in the next few years, especially due to the continuous demand from industries such as automobiles, aerospace and sports equipment, the market share of carbon fiber materials is expected to maintain a high growth trend. According to the latest foreign market analysis report: the carbon fiber market size in 2022 is US$3.458 billion, and it is expected to exceed US$5.606 billion by the end of 2028.

It is expected that the market will grow at a compound annual growth rate of 8.3% from 2022 to 2028. This article first introduces the development of carbon fiber in the terminal application market, then briefly analyzes the main growth points in the future carbon fiber field, and finally summarizes the development strategies of carbon fiber companies in the short and long term.

Around the 1970s, carbon fiber materials with a carbon content of up to 95% appeared on the market, and during this period, the manufacturing process was also improved. In the 1990s and 2000s, engineers further studied the properties of carbon fiber to explore more applications, and this pursuit of end-use markets has led to the rapid growth of the carbon fiber market in recent years.

The military was the first field to use carbon fiber. The US government decided to invest in viscose-based carbon fiber for naval ships. Later, they expanded the use of carbon fiber to aircraft components. The pioneering application of carbon fiber in terms of industrial potential was a game-changer. Since then, the carbon fiber market has grown to a larger scale and has application prospects in many industries. Aircraft sector drives rapid growth of carbon fiber: Today, the aerospace industry still has the largest market size for carbon fiber. Carbon fiber has been used in the aerospace field since the 1960s, with compressor blades, fuselages, engine cowlings, and other aircraft parts made of carbon fiber. The aerospace industry is the main consumer of the carbon fiber market due to the lightweight advantages of carbon fiber materials. Carbon fiber reduces the weight of aircraft and improves fuel efficiency. Carbon fiber is strong enough to improve the safety of aircraft. The only constraint on the use of carbon fiber in aircraft is its price. However, the benefits of carbon fiber in the aerospace field outweigh the disadvantages. It is expected that the ever-expanding commercial flights will create demand for carbon fiber in the aircraft industry. Gulfstream G650, Airbus A350 and Boeing 787 are some of the aerospace aircraft that are recognized for using carbon fiber to reduce the weight of the aircraft and improve operational performance.

Sporting Goods is the Next Profitable Niche for Carbon Fiber: Today’s sporting goods have become one of the lucrative consumer segments of the carbon fiber market. The superior strength of carbon fiber outperforms steel. Although it is the strongest material, it is equally flexible. Sports companies use carbon fiber to produce sports equipment with higher precision and greater athletic ability. Carbon fiber is used in tennis rackets to make them lighter. Manufacturers have designed carbon fiber rackets to improve comfort and control. Bicycle manufacturers are expected to benefit from carbon fiber in the next decade. Apart from bicycles and tennis rackets, carbon fiber is also used in skis and snowboards. In fact, this is only the initial stage of carbon fiber in the sports field, and there are companies specializing in this. As the cost of technology continues to grow, processing costs are likely to fall and provide a competitive advantage to early investors in this field.

Growth of Lightweight Traction Carbon Fiber Application in Automobiles: The concept of using carbon fiber to reduce the weight of components has caught the attention of modern automobile companies, and carbon fiber has been used in the automotive manufacturing industry. It was first used in NASCAR cars due to its high specific strength. With the growing interest in sports cars and racing cars, the application of carbon fiber in automobiles has ushered in a climax of change. However, the ever-escalating electric vehicle space has created a demand for energy efficiency, which has greatly promoted the application of carbon fiber in the manufacturing of automotive parts.

Carbon fiber is also being explored in the medical industry: The medical industry is the latest consumer industry for carbon fiber. Carbon fiber has been used in prostheses, which are strong and comfortable. In some medical devices such as X-rays and implants, carbon fiber is used for top plates. They have a radiolucent effect, and X-rays can pass through without any interference. Carbon fiber is wear-resistant and is ideal for medical devices. The growing medical sector investment in Asia Pacific is expected to benefit the expansion of the carbon fiber market in Asia Pacific in the next decade.

How to minimize the manufacturing cost? The manufacturing of carbon fiber has always been a complex process because each stage needs to be carefully controlled. Any improper handling during the optimization process will affect the performance of the final product. The high cost of carbon fiber precursors has hindered its widespread application. Polyethylene is seen as an effective alternative to reduce the cost of commercial carbon fiber, and textile-grade PAN is the next promising way to achieve low-cost carbon fiber scale-up. The carbon fiber market outlook is still very promising, and more applications are expected to emerge in the coming years with research and development and technological advancement in this field. However, the industry needs professional technicians to promote the development of carbon fiber composites.