Major Drivers for Carbon Fiber Market

Major Drivers for Carbon Fiber Market

Carbon fiber; also known as graphite fiber has several advantages like high stiffness, high temperature tolerance, high chemical resistance, high tensile strength, low weight and low thermal expansion. Automakers now prefer composites over high-strength steel and aluminium during auto parts manufacturing. Composites are preferred as they offer flexibility for streamlined designs along with meeting all environmental regulations.Composites offer weight reduction and with every weight reduction, vehicle efficiency is achieved by minimizing the fuel cost. Composites are used in all types of transportation from passenger cars to heavy-duty trucks. They have also been successful in replacing aluminium in the advanced aircraft industry as well. Fifty percent of the Boeing 787 is made from advanced composites,while the remainder of the plane is constructed from aluminium, steel and titanium.

With the trend towards higher operating temperatures and miniaturization in the engine compartment, composites replacing metals offer weight reduction and functional integration; the use of composites in automotive industry is expected to witness high growth in during the forecast period.Along with automotive sector, energy sector also drives the carbon fiber market. Carbon fiber is used in production of turbine blades owing to its reduced weight, high strength and stiffness. The use of carbon fiber is also growing at a faster rate in the construction sector where carbon fiber is extensively used in new builds, bridgework and concrete reinforcements. The global Demand for carbon fiber was estimated to be around 70 Kilo tons in 2017 and it is estimated to grow at a CAGR of around 12 % during 2018-2025 due to above mentioned factors.

Major Drivers for Carbon Fiber Market

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