The Global Market for Carbon Fiber and Carbon Fiber Reinforced Polymers (CFRP) 2021-2031

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Published September 2021 | 147 pages, 40 tables, 35 figures | Table of contents

Carbon fiber (CF) is used as a reinforcement material in composites. Carbon fiber reinforced polymers (CFRP) are mainly used in wind energy, automotive, 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.

CF has the characteristics of common carbon materials such as:

  • high temperature resistance
  • friction resistance
  • electrical conductivity
  • heat conduction
  • corrosion resistance

 

It also has advantageous differences such as:

  • shape has significant anisotropy
  • soft
  • can be processed into various fabrics
  • has a small specific gravity and therefore has a high specific strength.

 

There are significant regulatory, economic and consumer motivations for manufacturers to adopt materials that reduce the weight of the  product and maintain or increase its performance. For example, manufacturers are interested in producing aircraft and automobiles that are more fuel efficient, increasing the size of wind energy blades, and producing strong lightweight storage vessels for alternative transportation fuels. To this end, carbon fiber (CF) and carbon fiber reinforced polymers (CFRP) that provide lightweighting and strength enhancement potential, are primary candidate materials for meeting these goals.

Report contents include:

  • Figures for current carbon fiber and CFRP demand, production capacities and projected future demand to 2031, by metric tonnes, end user markets and regions. 
  • Market and technical developments 2020-2021. 
  • Assessment of developments in plant-based carbon fibers, low cost production, alternative precursors and processes, and 3D printing.
  • Markets covered include Aerospace, Sports & Leisure, Wind Energy, Automotive, Pressure Vessels, Construction & Infrastructure and Oil and Gas. 
  • 95 companies profiled including CF manufacturers, CFRP manufacturers and CF recyclers. Companies profiled include DowAksa, Formosa Plastics Corporation, Hexcel Corporation, Hyosung Advanced Materials, Jiangsu Hengshen Co., Ltd., Kureha Corporation, Mitsubishi Chemical Corporation, SGL Carbon SE, Solvay SA, Teijin Limited, Toray Industries, Inc., UMATEX, bCircular, Carbon Conversions, Gen 2 Carbon, Mallinda, Carbitex, LeMond Carbon, Continuous Composites, Boston Materials and 9T Labs. 

 

1              EXECUTIVE SUMMARY   11

  • 1.1          Key players         11
  • 1.2          Impact of COVID-19 crisis              12
  • 1.3          Market drivers and trends            12
  • 1.4          Market challenges           13
  • 1.5          Future trends    14

 

2              INTRODUCTION 15

  • 2.1          Carbon fibers     15
    • 2.1.1      Properties of carbon fibers          15
      • 2.1.1.1   Types by modulus            17
      • 2.1.1.2   Types by the secondary processing          17
    • 2.1.2      Precursor material types               18
      • 2.1.2.1   PAN: Polyacrylonitrile     19
      • 2.1.2.2   Pitch-based carbon fibers             21
      • 2.1.2.3   Viscose (Rayon)-based carbon fibers       22
  • 2.2          Carbon fiber reinforced polymer (CFRP) 23
    • 2.2.1      Applications       23
  • 2.3          Bio-based and alternative precursors      25
    • 2.3.1      Lignin    25
    • 2.3.2      Polyethylene     27
    • 2.3.3      Vapor grown carbon fiber (VGCF)             28
    • 2.3.4      Textile PAN         28
  • 2.4          Recycled carbon fibers (r-CF)      29
    • 2.4.1      Recycling processes        29
    • 2.4.2      Companies         32
  • 2.5          Carbon Fiber 3D Printing               32
  • 2.6          Plasma oxidation              35

 

3              CARBON FIBER PRODUCTION CAPACITIES             36

  • 3.1          Annual capacity, by producer      36
  • 3.2          Market share, by capacity             37

 

4              MARKETS FOR CARBON FIBERS  38

  • 4.1          Carbon fiber industry developments 2020-2021  38
  • 4.2          Aerospace          40
    • 4.2.1      Market drivers, applications, desirable properties, pricing and key players              41
    • 4.2.2      Global demand 42
      • 4.2.2.1   Carbon fiber       42
      • 4.2.2.2   CFRP      43
  • 4.3          Wind energy      45
    • 4.3.1      Market drivers, applications, desirable properties, pricing and key players              45
    • 4.3.2      Offshore              46
    • 4.3.3      Global demand 46
      • 4.3.3.1   Carbon fiber       46
      • 4.3.3.2   CFRP      47
  • 4.4          Sports & leisure 49
    • 4.4.1      Market drivers, applications, desirable properties, pricing and key players              49
    • 4.4.2      Global demand 50
      • 4.4.2.1   Carbon fiber       50
      • 4.4.2.2   CFRP      51
  • 4.5          Automotive        52
    • 4.5.1      Market drivers, applications, desirable properties, pricing and key players              52
    • 4.5.2      Global demand 53
      • 4.5.2.1   Carbon fiber       53
      • 4.5.2.2   CFRP      55
  • 4.6          Pressure vessels               56
    • 4.6.1      Market drivers, applications, desirable properties, pricing and key players              57
    • 4.6.2      Global demand 58
      • 4.6.2.1   Carbon fiber       58
      • 4.6.2.2   CFRP      59
  • 4.7          Oil and gas          61
    • 4.7.1      Market drivers, applications, desirable properties, pricing and key players              61
      • 4.7.1.1   Carbon fiber       62
      • 4.7.1.2   CFRP      63
  • 4.8          Other markets   64
    • 4.8.1      Construction & infrastructure     64
      • 4.8.1.1   Market drivers, desirable properties, applications and pricing       64
    • 4.8.2      Medical 65
      • 4.8.2.1   Market drivers, desirable properties, applications and pricing       65

 

5              GLOBAL DEMAND TO 2031           66

  • 5.1          Demand by market 2018-2031    66
    • 5.1.1      Carbon fiber       66
    • 5.1.2      Carbon fiber reinforced polymers (CFRP)               67
  • 5.2          Demand by region 2018-2031      70

 

6              COMPANY PROFILES       72

  • 6.1          Carbon fiber producers 72
    • 6.1.1      4M Carbon Fiber Corporation     72
    • 6.1.2      DowAksa             72
    • 6.1.3      Formosa Plastics Corporation      73
    • 6.1.4      Hengshen Fibre Materials             74
    • 6.1.5      Hexcel Corporation         75
    • 6.1.6      Hyosung Advanced Materials      76
    • 6.1.7      Kangde Group   77
    • 6.1.8      Kureha Corporation        77
    • 6.1.9      LLC Niagara         78
    • 6.1.10    Mitsubishi Chemical Carbon Fiber and Composites  (MCCFC)        79
    • 6.1.11    Montefibre Carbon SL    79
    • 6.1.12    Osaka Gas Chemicals Co., Ltd.     80
    • 6.1.13    Nippon Graphite Fiber Corporation          81
    • 6.1.14    SGL Group          81
    • 6.1.15    Sinopec Shanghai Petrochemical Co, Ltd.               82
    • 6.1.16    Sinofibers Technology Co              83
    • 6.1.17    Solvay SA             83
    • 6.1.18    Stora Enso           84
    • 6.1.19    Teijin Limited     85
    • 6.1.20    Toray Industries, Inc.      86
    • 6.1.21    UMATEX Group 87
    • 6.1.22    Weihai Guangwei Composites Co., Ltd.   87
    • 6.1.23    Zhongfu-Shenying Carbon Fiber Co., Ltd.                88
  • 6.2          Carbon Fiber composite producers           89
    • 6.2.1      9T Labs AG          89
    • 6.2.2      ACG Composites Co., Ltd.             90
    • 6.2.3      A&P Technology, Inc.      91
    • 6.2.4      Aciturri Aeronáutica, S.L.              91
    • 6.2.5      Action Composites Gmbh             92
    • 6.2.6      Albany Engineered Composites, Inc.        93
    • 6.2.7      Aldila, Inc.           93
    • 6.2.8      Anisoprint S.a.r.l.              94
    • 6.2.9      APS Tech Solutions          95
    • 6.2.10    Arris Composites              95
    • 6.2.11    AREVO  96
    • 6.2.12    AVANCO GmbH 97
    • 6.2.13    Braskem S.A.      98
    • 6.2.14    Carbitex               98
    • 6.2.15    Carbo-Link AG   99
    • 6.2.16    Carbon Mobile GmbH    100
    • 6.2.17    Carbon Revolution           101
    • 6.2.18    CEAD B.V.            102
    • 6.2.19    Colllins Aerospace           103
    • 6.2.20    Continuous Composites, Inc.       103
    • 6.2.21    Desktop Metal, Inc.         104
    • 6.2.22    Faber Industrie SpA         105
    • 6.2.23    Fortify, Inc.         105
    • 6.2.24    GKN Aerospace 107
    • 6.2.25    Gurit Holding AG              107
    • 6.2.26    Hankuk Carbon Co., Ltd 108
    • 6.2.27    Helicoid Industries, Inc. 108
    • 6.2.28    Hexagon Composites ASA            110
    • 6.2.29    Honext Material SL          110
    • 6.2.30    Impossible Objects          111
    • 6.2.31    Kaman Composites Vermont Inc.              112
    • 6.2.32    LANXESS AG       113
    • 6.2.33    Lehvoss Group  114
    • 6.2.34    Leonardo SpA    115
    • 6.2.35    Luxfer Gas Cylinders (Luxfer Group)         116
    • 6.2.36    Magna International Inc.               116
    • 6.2.37    Mantis Composites         117
    • 6.2.38    Markforged        117
    • 6.2.39    Metal Mate Co Ltd           118
    • 6.2.40    Mitsubishi Heavy Industries Ltd 118
    • 6.2.41    moi composites 119
    • 6.2.42    Plasan Carbon Composites, Inc. 120
    • 6.2.43    Power and Composite Technologies LLC (The Gund Co.)  120
    • 6.2.44    remium Aerotec GmbH 121
    • 6.2.45    Rein4ced             122
    • 6.2.46    RTP Company    123
    • 6.2.47    Saertex GmbH & Co. KG 123
    • 6.2.48    Siemens Gamesa Renewable Energy S.A.               124
    • 6.2.49    Sigmatex (UK) Limited    124
    • 6.2.50    Solerial Matusions AB     125
    • 6.2.51    Spirit Aerosystems, Inc  126
    • 6.2.52    Strata Manufacturing PJSC           126
    • 6.2.53    Toray Advanced Composites       127
    • 6.2.54    The Gill Corporation        127
    • 6.2.55    Trek Bicycle Corporation               128
    • 6.2.56    Veplas Group     129
    • 6.2.57    Vestas Wind Systems A/S             129
    • 6.2.58    Weav3D, Inc.      130
  • 6.3          Carbon fiber recyclers    131
    • 6.3.1      Alpha Recyclage Composites       131
    • 6.3.2      Bcircular               131
    • 6.3.3      Boston Materials LLC      132
    • 6.3.4      Carbon Conversions, Inc.              133
    • 6.3.5      Carbon Fiber Recycling LLC           135
    • 6.3.6      Gen 2 Carbon     136
    • 6.3.7      Extracthive-Industry       137
    • 6.3.8      Fairmat 137
    • 6.3.9      Faurecia S.A.      138
    • 6.3.10    Karborek Rcf Srl 139
    • 6.3.11    Mallinda, Inc.     139
    • 6.3.12    Shocker Composites, LLC              140
    • 6.3.13    Solid Carbon Products LLC            140
    • 6.3.14    Vartega Inc.        141

 

7              RESEARCH METHODOLOGY         142

 

8              REFERENCES       143

 

List of Tables

  • Table 1. Market drivers and trends in carbon fibers.         12
  • Table 2. Market challenges in the CF and CFRP market.   13
  • Table 3. Classification and types of the carbon fibers.       15
  • Table 4. Summary of carbon fiber properties.      16
  • Table 5. Modulus classifications of carbon fiber. 17
  • Table 6. Comparison of main precursor fibers.     18
  • Table 7. Summary of markets and applications for CFRPs.              23
  • Table 8. Properties of lignins and their applications.          26
  • Table 9. Fiber properties of polyolefin-based CFs.              28
  • Table 10. Summary of carbon fiber (CF) recycling technologies. Advantages and disadvantages.   30
  • Table 11. Retention rate of tensile properties of recovered carbon fibres by different recycling processes.              31
  • Table 12. Recycled carbon fiber producers, technology and capacity.         32
  • Table 13. Methods for direct fiber integration.    32
  • Table 14. Continuous fiber 3D printing producers.             33
  • Table 15. Production capacities of carbon fiber producers, in metric tonnes.         36
  • Table 16. Carbon fiber industry developments 2020-2021.             38
  • Table 17. Comparison of CFRP to competing materials.    40
  • Table 18. The market for carbon fibers in aerospace-market drivers, applications, desirable properties, pricing and key players. 41
  • Table 19. Global demand for carbon fibers 2016-2031, in aerospace (metric tonnes).        42
  • Table 20. Global revenues for CFRP 2016-2031, in aerospace (billions USD).           43
  • Table 21. The market for carbon fibers in wind energy-market drivers, applications, desirable properties, pricing and key players.        45
  • Table 22. Global demand for carbon fibers 2016-2031, in wind energy (metric tonnes).    46
  • Table 23. Global revenues for CFRP 2016-2031, in wind energy (billions USD).       47
  • Table 24. The market for carbon fibers in sports & leisure-market drivers, applications, desirable properties, pricing and key players.               49
  • Table 25. Global demand for carbon fibers 2016-2031, in sports & leisure (metric tonnes).             50
  • Table 26. Global revenues for CFRP 2016-2031, in sports & leisure (billions USD). 51
  • Table 27. The market for carbon fibers in automotive-market drivers, applications, desirable properties, pricing and key players.        52
  • Table 28. Global demand for carbon fibers 2016-2031, in automotive (metric tonnes).     53
  • Table 29. Global revenues for CFRP 2016-2031, in automotive (billions USD).        55
  • Table 30. The market for carbon fibers in pressure vessels-market drivers, desirable properties of CF, applications, pricing, key players.        57
  • Table 31. Global demand for carbon fibers 2016-2031, in pressure vessels (metric tonnes).            58
  • Table 32. Global revenues for CFRP 2016-2031, in pressure vessels (billions USD).               59
  • Table 33. The market for carbon fibers in oil and gas-market drivers, desirable properties, applications, pricing and key players. 61
  • Table 34. Global demand for carbon fibers 2016-2031, in oil and gas (metric tonnes).       62
  • Table 35. Global revenues for CFRP 2016-2031, in oil and gas (billions USD).          63
  • Table 36. The market for carbon fibers in construction & infrastructure.  64
  • Table 36. The market for carbon fibers in medical.             65
  • Table 37. Global demand for carbon fibers 2016-2031, by market (metric tonnes).             66
  • Table 38. Global market revenues for Carbon fiber reinforced polymers (CFRP) 2016-2031, by market (billion USD).                68
  • Table 39. Global demand for carbon fibers 2018-2031, by region (thousand metric tonnes).           70
  • Table 40. Main Toray production sites and capacities.      86

 

List of Figures

  • Figure 1.  Manufacturing process of PAN type carbon fibers.         19
  • Figure 2. Production processes for pitch-based carbon fibers.       22
  • Figure 3. Lignin/celluose precursor.          25
  • Figure 4. Process of preparing CF from lignin.       26
  • Figure 5. Carbon fiber manufacturing capacity in 2021, by company (metric tonnes)          37
  • Figure 6. ASIO drone by Flybotix.               41
  • Figure 7. Global demand for carbon fibers 2016-2031, in aerospace (metric tonnes).         43
  • Figure 8. Global revenues for CFRP 2016-2031, in aerospace (billions USD).            44
  • Figure 9. Global demand for carbon fibers 2016-2031, in wind energy (metric tonnes).     47
  • Figure 10. Global revenues for CFRP 2016-2031, in wind energy (billions USD).     48
  • Figure 11. Global demand for carbon fibers 2016-2031, in sports & leisure (metric tonnes).            50
  • Figure 12. Global revenues for CFRP 2016-2031, in sports & leisure (billions USD).              51
  • Figure 13. Global demand for carbon fibers 2016-2031, in automotive (metric tonnes).    54
  • Figure 14. Global revenues for CFRP 2016-2031, in automotive (billions USD).       55
  • Figure 15. Schematic of a 700-bar Type-IV COPV for on-board FCV hydrogen storage.       56
  • Figure 16. CF pressure vessel for Hyundai Truck. 57
  • Figure 17. Global demand for carbon fibers 2016-2031, in pressure vessels (metric tonnes).          59
  • Figure 18. Global revenues for CFRP 2016-2031, in pressure vessels (billions USD).             60
  • Figure 19. Global demand for carbon fibers 2016-2031, in oil and gas (metric tonnes).      62
  • Figure 20. Global revenues for CFRP 2016-2031, in oil and gas (billions USD).         63
  • Figure 21. Global demand for carbon fibers 2016-2031, by market (metric tonnes).            67
  • Figure 22. Global market revenues for Carbon fiber reinforced polymers (CFRP) 2016-2031, by market (billion USD).                69
  • Figure 23. Global demand for carbon fibers 2018-2031, by region (thousand metric tonnes).         71
  • Figure 24. 9T Labs' Red Series.    89
  • Figure 25. 3D printed component.            90
  • Figure 26. Continuous carbon fiber part. 96
  • Figure 27. Speedland SL:PDX trail shoe incorporating carbon fiber plate. 99
  • Figure 28. Carbon 1 MK II.            101
  • Figure 29. CR-9 carbon fibre wheel.         101
  • Figure 30. The Continuous Kinetic Mixing system.              106
  • Figure 31. CBAM-2 3D printer.    112
  • Figure 32. Thermoplastic CFRP single aisle pressure bulkhead demonstrator.        121
  • Figure 33. Rein4ced carbon mountain bike hardtails.        122
  • Figure 34. Recycled carbon fibers obtained through the R3FIBER process.               132
  • Figure 35. Compression molded automotive floorboard. 134

 

 

The Global Market for Carbon Fiber and Carbon Fiber Reinforced Polymers (CFRP) 2021-2031
The Global Market for Carbon Fiber and Carbon Fiber Reinforced Polymers (CFRP) 2021-2031
PDF download. Enterprise-wide licence.

The Global Market for Carbon Fiber and Carbon Fiber Reinforced Polymers (CFRP) 2021-2031
The Global Market for Carbon Fiber and Carbon Fiber Reinforced Polymers (CFRP) 2021-2031
PDF and print edition. Enterprise-wide licence.

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