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Global Carbon Fiber Market Driven by Rising Set of Applications in End-use Industries

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It may have hardly been in use for the last forty years, but carbon fiber has already gained use in a wide range of applications in a number of industries these days. Every day, a new application is being found for carbon fiber and what was once considered a highly exotic material is now becoming a big part of our everyday lives. Carbon fiber, originally manufactured in the form of thin filaments that are one tenth the thickness of human hair, are woven, bundled, wrought into sheets and tubes for use in building and construction projects, or is used as regular thread for winding filaments.

Browse the full Global Carbon Fiber Market Report:

Analysts state that the future of carbon fiber is very bright. A recent market research report published by Transparency Market Research states that the global market for carbon fiber, which had a valuation of US$1.9 bn in 2013, will expand at a 9.9% CAGR between 2014 and 2020 and reach US$3.7 bn by 2020. The superior strength to weight of carbon fiber, which is far better that many of the commercially used metals in many industries, makes carbon fiber the material of choice for applications where reduction in weight of the end product leads to improved performance. This is also a key reason why 30% of the total carbon fiber produced on the global front is used in the aerospace industry.

Browse the full Press Release of Global Carbon Fiber Market

Used extensively in gliders, helicopters, microlights, and fighter jets, carbon fiber is also used in some proportion in most spacecrafts.

Some other prominent applications of carbon fiber are found in the following areas:

  • Sporting Gear: The excellent strength of carbon fiber makes it a life saver in any sport activity that involves the danger of head injury. Carbon fiber is used in crash helmets for motor cyclists, horse riders, rock climbers, etc. carbon fiber is also used in a variety of sports equipment such as ice hockey sticks, golf clubs, tennis racquets, and running shoes. 
  • Military: The applications of carbon fiber are very wide ranging in military – from fighter planes, missiles to protective helmets, carbon fiber is known to provide strength and make military equipment light in weight. Although a new application of carbon fiber is announced every other day, one of the latest military applications of the material is its use for making wings of miniature flying drones.
  • Medical Applications: Carbon fiber has many advantages over other materials used in the medical industry, such as the radiolucent nature of the material which makes it transparent to X-rays. It is thus extensively used to support limbs that are being treated with radiation. Carbon fiber is also very popular for its use in prosthetics.
  • Automobile Industry: Owing to the high cost of carbon fiber, it is not that widely used in the automobile industry. However, with a reduction in price, carbon fiber will find huge applications in the automobile sector as it can reduce weight of a vehicle while still delivering the required strength and durability to automobile parts.
  • Environmental Applications: Carbon fiber is also used as a chemical purifier as it is a powerful absorbent. Thus, it has the potential for increased use across many industries for purification of waste water and other waste products before disposing it in the environment.