Global Carbon Fiber Market was valued at US$ 2.79 billion and is estimated to reach a market valuation of US$ 52.16 billion by 2050 at a CAGR of 11.07% during the forecast period 2023–2050.
In the last few years, the global modern industries have seen an exponential rise in the adoption and utilization of carbon fiber, a material known for its extraordinary strength-to-weight ratio, rivaling even that of steel. With an annual global production of around 104,000 metric tons in the carbon fiber market, carbon fiber's versatility is evident across a myriad of applications. From the skies above to the roads below, and from the depths of the ocean to the boundaries of sports, this lightweight and durable material has made an indomitable mark.
In the rapidly expanding market, the aerospace industry alone consumes a staggering 27,000 metric tons of carbon fiber each year, signifying its essential role in aircraft manufacturing. The automotive sector, in its relentless pursuit of innovation, speed, and efficiency, uses roughly 18,500 metric tons of carbon fiber per annum. This material not only enhances vehicle strength but significantly reduces their weight, paving the way for the future of electric vehicles. As per our estimates, EVs will lead to an additional demand of about 10,000 metric tons of carbon fiber by 2030, attesting to the shifting paradigms of sustainable transportation. As we transition to greener energy sources, even the wind energy sector is not behind, harnessing over 20,000 metric tons of carbon fiber to craft resilient and efficient turbine blades annually in the global carbon fiber market.
Today, high-grade carbon fiber sells for between $15,000 to $28,000 per metric ton. This price tag, however, has not deterred industries. The sporting world, for instance, with its ceaseless pursuit of excellence, channels about 14,000 metric tons of carbon fiber into equipment manufacturing yearly. Japan, a country known for its technological prowess and innovation, emerges as the third dominant player, leading the carbon fiber production charts with an annual yield of over 30,000 metric tons. The United States with its vast industrial landscape, produces a commendable 38,000 metric tons each year. Europe, with its robust automotive and aerospace sectors, reflects a consumption pattern that's equally impressive, accounting for approximately 25,000 metric tons annually in the global carbon fiber market.
To Get more Insights, Request A Free Sample
The rapid urbanization coupled with the increasing demand for sustainable infrastructure, has set the stage for carbon fiber to become the linchpin in modern city development. According to the United Nations, 68% of the global population is projected to live in urban areas by 2050, up from the current 55%. This surging urban populace necessitates infrastructure that is not only durable but also environmentally friendly. Carbon fiber composites, with their unmatched strength-to-weight ratio and resistance to environmental degradation, have witnessed a surge in demand, particularly in bridge and building construction. Recent studies in the global carbon fiber market indicate that the application of carbon fiber in structural strengthening and retrofitting has grown at an impressive 14% CAGR over the last five years. Furthermore, about 3,500 metric tons of carbon fiber was specifically utilized in 2022 for urban infrastructure purposes alone.
Apart from this, the reduction of CO2 emissions resulting from the application of carbon fiber in construction is further supporting the product demand around the globe. Lighter structures, enabled by carbon fiber, lead to a decrease in construction material transport emissions by up to 18%. As cities worldwide grapple with pollution and environmental concerns, the potential carbon savings offered by carbon fiber in construction make it an even more attractive proposition for urban planners and developers.
In an era dominated by cutting-edge medical advancements, the integration of carbon fiber in medical technology has emerged as a groundbreaking trend in the carbon fiber market. Carbon fiber's unique combination of radiolucency, biocompatibility, and strength has sparked a revolution in medical device innovation, particularly in orthopedics and radiology. Over the past decade, there's been a 20% increase in the application of carbon fiber composites in orthopedic implants. By 2023, the global market for carbon fiber orthopedic implants is projected to reach $320 million, reflecting a robust 12% growth year-on-year. These implants, known for their durability and lightweight properties, have improved patient outcomes by reducing post-operative complications and enhancing mobility.
In the radiology sector, carbon fiber's radiolucent nature allows for clearer imaging, leading to more accurate diagnoses and treatments. The market for carbon fiber-based radiology tables and equipment witnessed an investment surge of $150 million globally in the past year, a figure expected to grow by 15% annually in the carbon fiber market. Furthermore, with the global medical device market forecasted to reach $802 billion by 2030, the role of carbon fiber is only set to expand. As medical science pushes the boundaries of what's possible, the symbiotic relationship between carbon fiber and medical technology is a trend that's poised to redefine healthcare in the years to come.
The global push towards sustainability and environmental responsibility has brought to the fore a significant challenge for the carbon fiber market: recycling and repurposing its waste. Carbon fiber composites, despite their remarkable attributes, present a considerable concern once they reach the end of their lifecycle. As industries increasingly adopt carbon fiber, the volume of waste generated has escalated alarmingly. In 2022 alone, over 12,000 metric tons of carbon fiber waste was generated globally, a number that's projected to triple by 2030 given the current rate of market expansion.
However, the intricacies of recycling carbon fiber composites are manifold. Traditional recycling methods, such as mechanical grinding, often degrade the fiber's inherent properties, reducing its tensile strength by up to 50%. Consequently, recycled carbon fiber, in many cases, fails to meet the stringent quality standards of primary industries like aerospace or automotive, thereby limiting its reuse potential. Financial implications further compound the challenge. Current estimates suggest that recycling carbon fiber costs approximately $5 to $8 more per pound than producing virgin fiber, rendering the recycling process economically unviable for many producers. Moreover, the lack of standardized recycling processes and facilities worldwide means that a staggering 90% of carbon fiber waste ends up in landfills.
This escalating waste issue not only impacts the environment but also tarnishes the carbon fiber market's reputation, given the global emphasis on circular economies and sustainable production. While research is ongoing, and some strides have been made in developing efficient recycling methods, the clock is ticking. The carbon fiber industry faces the pressing need to address this challenge head-on, balancing its meteoric growth with sustainable and responsible waste management.
Polyacrylonitrile (PAN) Type Carbon Fiber emerges as the dominant segment in the global carbon fiber market based on precursor types. With the segment holding overwhelming market share of 73.31%, PAN's dominance is testament to its superior properties and widespread industrial applicability. This precursor type has been the essential for many industries, ranging from aerospace to automotive, owing to its high tensile strength and lightweight nature. Financially, the PAN segment's dominance translates to billions in revenue, with projections suggesting a steady upward trajectory at an impressive CAGR of 11.09%, indicating robust future growth. Furthermore, of the total carbon fiber production globally, over two-thirds is estimated to be of the PAN type. This statistic further emphasizes PAN's pivotal role in shaping the future of the carbon fiber industry. As technological advancements push the boundaries of material science, PAN Type Carbon Fiber, with its unparalleled attributes and cost-effectiveness, is poised to lead the market segment's charge in the coming years.
By tow size, the 24-48 k category firmly stands out in the global carbon fiber market, reflecting the industry's evolving demands and preferences. This segment claims a formidable 70.07% of the market share and is projected to grow at a CAGR of 11.16%, underscoring its pivotal role in diverse applications, from industrial components to high-performance equipment. Today, out of every 100 metric tons of carbon fiber produced, over 70 metric tons belong to the 24-48 k category. This tow size's ascendancy is attributed to its optimal balance of strength and flexibility, making it a preferred choice for many manufacturers. As the global industrial landscape continues to shift towards materials that offer both durability and adaptability, the 24-48 k tow size segment is well-positioned to lead the carbon fiber market's growth trajectory.
By modulus, the standard Modulus range, specifically T300 -T700, which commands an imposing market share of 82.05% of the global carbon fiber market. This can be attributed to the balance of strength and flexibility offered by the standard modulus makes it the go-to choice for a plethora of industries, from automotive manufacturing to sports equipment design. Financially, the vast consumption of T300-T700 translates to billions in revenue, marking its pivotal role in shaping the economic dynamics of the carbon fiber industry. Yet, the future seems to hold immense promise for the Intermediate Modulus, particularly T800-T1100. Even though it might not currently match the standard's market share, its projected to grow at a robust CAGR of 11.50%. This growth trajectory indicates that the Intermediate Modulus is rapidly gaining traction, set to play an even more crucial role in the coming years.
To Understand More About this Research: Request A Free Sample
By end users, aerospace and defense sector is leading the global carbon fiber market by claiming a significant 26.02% revenue, thus, highlighting its indispensable role in crafting cutting-edge aircraft, drones, and defense equipment. The aerospace sector's stringent requirements, including the demand for lightweight yet incredibly strong materials, have made carbon fiber the material of choice. Economically, this consumption represents a multi-billion-dollar segment within the carbon fiber market, underscoring the aerospace and defense sector's commercial significance.
This industry's reliance on carbon fiber shows no signs of waning. In fact, it's projected to intensify, with the sector's carbon fiber consumption estimated to grow at the highest CAGR of 11.23%. This growth rate hints at an increasing integration of carbon fiber in next-generation aerospace designs and defense innovations. As global geopolitics evolve and the push for more efficient, sustainable aircraft gains momentum, the aerospace and defense sector's role as a primary consumer of carbon fiber is set to be further cemented.
The global carbon fiber market, characterized by rapid advancements and robust demand, is distinctly marked by the leading roles of the Asia Pacific (APAC) and North America. The Asia Pacific region, a beacon of industrial growth and technological innovation, stands tall in the carbon fiber market by commanding an impressive 42% revenue share. The region’s dominance is shaped by countries like Japan and China, which together boast production capacity of over 60,000 metric tons of carbon fiber annually. The financial landscape of the region is equally compelling, with investments in carbon fiber research and infrastructure surpassing the $600 million mark in 2022. The automotive sector, riding the waves of change, has registered a remarkable 15% year-on-year growth in carbon fiber consumption. Furthermore, the skyward ambitions of China and Japan in aerospace have led to a 12% surge in carbon fiber demand within this sector. As cities across APAC turn their attention to sustainable infrastructure, carbon fiber has found increased application, growing by 10% in recent urban development initiatives.
In close pursuit of APAC's dominance is North America, which, with its revenue-centric approach, holds a commendable 37% revenue share in the carbon fiber market. The United States, with its vast industrial and research landscapes, is the linchpin, contributing to over 37,000 metric tons of carbon fiber production capacity annually. The innovation narrative in North America is equally compelling, with regional companies channeling over $900 million into cutting-edge carbon fiber technologies in 2022. As the home of global aerospace giants, the region's carbon fiber consumption in aerospace has soared by 14% over the last two years in the carbon fiber market. Concurrently, the green energy transition has catalyzed an 18% growth in carbon fiber demand for wind turbine production, and the automotive evolution, characterized by the electric vehicle revolution, has driven a 20% spike in carbon fiber use.
By Precursor Type
Additional resources:By Tow Size
By Modules
By End User
By Region
What‘s the price of carbon fiber sheet?
As we all know, carbon fiber sheets made from carbon fiber and epoxy resins. So the cost depends on the carbon fiber material and the plate size and thickness, different carbon fiber material is big different prices, for example, the same size of T700 carbon fiber sheet price is much higher than T300 material because they have different strength and applications.
What’s the price of carbon fiber?
10 years ago, carbon fiber price about $150 per pound. Now, the average total production cost of “standard modulus” carbon fiber is in the range of $7-9 per pound. Standard modulus refers to a narrow range of fiber stiffness that industry recognizes as a benchmark. A target selling price of $5-$7 per pound for standard modulus carbon fiber would be viewed by several industries as being the tipping-point at which carbon fiber-based composites will achieve massadoption in broad consumer-driven markets. Until the price and total production cost are significantly reduced, and potential large users are convinced that the supply will be available to support their large programs, carbon fiber will predominantly remain a niche material.
So when you want to get the price of carbon fiber sheets, you need to know what specifications of carbon sheets you need, such as the carbon plate size, the thickness, the finish and the weave of the carbon fiber sheets, the carbon fiber material modulus. You need to get the basic information before you ask carbon fiber supplier, For example, a T300 material 200*300*1.5mm carbon fiber sheet price is about $14, while a 200*300*2mm carbon fiber plate price is $17, and a T700 carbon fiber material 400*500*3mm carbon fiber board price is $66. You can compare the carbon fiber sheet prices with Amazon or other B2B or B2C website. Of course, if you want to buy a big quantity of carbon fibre plates, you can tell them your quantity, they will give you a wholesale price, that will be cheaper more.
Carbon fibre sheet price in the US or Canada or the UK is 30%-50% higher than China supplier, and some are even more. And China supplier price is more advantageous than carbon fiber sheet produced in India, and the quality will be better than made in India, and what important is China supplier can ship to the world Various countries and regions. This is why more and more customers buy carbon fiber sheets from China.
If you want to buy a special size carbon fiber plate, you should find a carbon fiber factory, they will cut to dimensions with CNC machining center – which ensures stable and precise dimensions. Usually, carbon fiber sheet thickness tolerance is about 0.2mm, Consequently the sheet 4 mm may actually be from 4 mm to 4.2 mm thick. As the thickness increases, the tolerance will also increase, Consequently the plate 6 mm may actually be from 5.8 mm to 6.3 mm thick.
At last, if you need to buy carbon fiber sheets, or cut some products base on carbon fiber sheet, please contact this carbon fiber supplier—Jinjiuyi carbon fiber team, we will offer you what you want.
Previous: How much is carbon fiber per ton?
Next: Is carbon fiber cheap?
Related Articles
Comments
Please Join Us to post.
0