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News

Market forecast: Wind energy to underpin massive increase of 193% in carbon fibre over next eight years

Companiesandmarkets : 22 April, 2013  (Special Report)
After years of steady but unimpressive growth, the carbon fibre market is finally set for a boom in revenue, thanks to burgeoning demand from the wind energy market. According to a new forecast, demand within the carbon fibre sector will hit 153,700 tonnes in 2020, climbing from 52,500 tonnes in 2012 - a massive increase of 193% in just eight years.

In recent decades, carbon fibres have found wide applications in commercial aircraft (up to 50% of the structure as composites), along with recreational (about 50% penetration in golf and fishing pole as units) and industrial (low penetration with high growth) markets, as the price of carbon fibre has stabilised and technologies have matured.

Still a relatively immature market, the material has been able to penetrate a number of important sectors. Despite the economic turmoil that has transpired in recent years, growth has remained steady and this is partly due to the change in consumer and supplier preferences that have occurred as a result of the economic crisis.

Now, according to a report from Companiesandmarkets, wind energy - a vital segment of the rapidly expanding renewable energy market - is predicted to be the key driver of the carbon fibre industry. Currently, wind turbine blades constructed from Glass Fibre Reinforced Polymer (GFRP) dominate the industry landscape, but due to their greater rigidity, lower weight and reduced cost, producers are making the move to carbon fibre alternatives.

Demand from the aerospace industry is also expected to demonstrate significant growth in the near future, although from a lower base figure. Thanks to the increased use of carbon fibre composites in aircraft such as the Airbus A380 and Boeing 787 Dreamliner, GBI Research anticipates aerospace industry demand for the material to climb at a Compound Annual Growth Rate of 11.8% from 7,200 tonnes in 2012 to 19,700 tonnes in 2020.

It is interesting to note that over 90% of the carbon fiber market is taken by just six companies, including Mitsubishi, Zoltek, Toray and Cytec. It would be interesting to find out if this will continue to be the case in the coming years...

Success in producing new, lower cost fibres and more efficient compositing techniques will enable the market to grow even faster, and for all sectors to benefit.

Report Overview

This report focuses on the demand side of the global carbon fibre industry. The report provides the reader with detailed analysis and forecasts of the major economic and market trends affecting global carbon fibre demand in the major regions of the world. It also provides analysis and description of the major drivers and restraints affecting carbon fibre demand in each region. Global carbon fibre demand is assessed in terms of end-user segments, prices and the competitive landscape, at both the regional and national level. Overall, the report presents a comprehensive analysis of the global carbon fibre market, covering all major parameters.

The report is built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis.

Scope

  • Drivers, restraints and challenges affecting the growth of the carbon fibre market for all major regions - Asia-Pacific, Europe, America, and Japan.
  • Demand volume and value forecasts for the global carbon fibre market from 2005 to 2020.
  • Demand by end-use volume forecasts for the global carbon fibre market from 2005 to 2020.
  • Global carbon fibre demand for industrial goods by end-use and forecasts to 2020.
  • Global carbon fibre demand for aerospace applications by end-use and forecasts to 2020.
  • Global carbon fibre demand for consumer goods by end-use and forecasts to 2020.
  • Global carbon fibre demand by region and forecasts to 2020.
  • Regional carbon fibre demand and demand shares by end-use for 2012.
  • Global carbon fibre capacity analysis and forecasts to 2020
  • Global carbon fibre capacity by type analysis and Forecasts to 2020
  • Global carbon fibre capacity by company and Forecasts to 2020
  • Global carbon fibre capacity share by company for 2011.
  • Global carbon fibre capacity share by country for 2011.
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