Carbon fiber composites consist of carbon fibers reinforced with a mixture of polymer, metal, ceramic, carbon, and hybrid matrix. These materials are lightweight, strong, and resistant to corrosion and fatigue. They are utilized in various industries, including aerospace, defense, automotive, wind turbines, civil engineering, marine applications, sports, and leisure. These composites are made using different manufacturing techniques, including pultrusion and winding, wet lamination and infusion, prepreg layup, press and injection processes, and others. Among these, the prepreg layup process is the most commonly used process for manufacturing carbon fibers. This process involves using composite fibers that are pre-impregnated, layered, and cured under heat and pressure to produce a solid composite material. This technique is extensively utilized in industries such as aerospace and defense, as well as in high-performance sports equipment and automotive applications.
Key Drivers of the Carbon Fiber Composites Market
The Growth of the Aerospace Industry
Carbon-fiber-based composites are used in the aerospace industry to manufacture aircraft parts such as brackets, ribs, struts, clips, cleats, stringers, wing leading edges, chips, and other unique parts. The aerospace industry is also investigating the use of these composites in larger structures such as wing torsion boxes and fuselage panels. Hence, the growth of this industry will eventually increase the carbon fiber composites demand as well. For instance, according to the Federal Aviation Administration (FAA), the overall commercial aircraft fleet in the US is predicted to reach 8,290 by 2038, up from 7,141 in 2017, having an average annual growth rate of 0.7% each year. Additionally, the India Brand Equity Foundation (IBEF) predicts that the number of airplanes in India will reach 1,100 by 2027. In addition, on July 5, 2021, the Ministry of Civil Aviation (MoCA) increased the capacity of domestic flights from 50% to 65%.
Increasing Demand of Wind Energy
The demand for wind energy is contributing significantly to the growth of the carbon fiber composites market. Wind turbine blades require materials with high strength, stiffness, and low weight, making carbon fiber composites a popular choice. Moreover, as the need for sustainable energy sources continues to grow, the demand for carbon fiber composites in wind energy will grow as well. According to the International Energy Agency’s report, in 2021, wind power generation grew by over 273 TWh (up 17%), a 55% increase over 2020 and the highest increase of all power generation processes. Wind continues to be the leading non-hydro renewable technology, generating 1,870 TWh in 2021. In the coming years, the demand for this energy will increase as the population and other industrial demands grow.
Advanced Manufacturing Technologies
The carbon fiber composites market has experienced substantial growth due to advancements in production methods and automation. For instance, the use of automated preforming machines in the aerospace industry has led to better-quality carbon fiber composites and shorter cycle times. This has considerably reduced the time and labor required for the preforming process. Moreover, the utilization of additive manufacturing or 3D printing has enabled the creation of intricate structures and shapes using carbon fiber composites, presenting novel possibilities for these materials. These developments have resulted in cost reductions and better efficiency in the manufacture of carbon fiber composites.
An example of a company that use additive manufacturing for carbon fiber composites is Northrop Grumman Corp. Northrop Grumman Corp is using its advanced Scalable Composite Robotic Additive Manufacturing Carbon/Carbon (SCRAM C/C) technology to enhance the development of high-temperature materials for hypersonic and high-speed weapons. The company is making remarkable progress in additive manufacturing by 3D printing continuous fiber composites on a large scale without the need for long-lead tooling. This innovative process automation can reduce the time and labor required for the traditionally labor-intensive C/C manufacturing process by up to 50%, resulting in increased component quality and consistency. Additionally, according to the company, the in-situ consolidation of the composite has the potential to significantly decrease the cost of manufacturing high-temperature composites.
Expansions and Innovations by Major Market Players
The carbon fiber composites market has significant contributors such as Solvay, Teijin Aramid BV, Nippon Carbon Co Ltd., Mitsubishi Chemical Holdings Corp., Epsilon Composite, Hexcel Corp., China Composites Group Corporation Ltd., Carbon Composites Inc., SGL Carbon, Rockman, and Plasan Carbon Composites, among others. These players assist in the market’s growth with the launch of new products and through collaborations and investments. Some of the recent developments in the market include-
• In April 2023, Hypetex debuted the world’s first set of colored bike wheels made of carbon fiber composite, at The Cycle Show 2023. The Chrono carbon fiber wheels, developed in collaboration with wheel brand Parcours (Paris, France), feature a gold finish made of Hypetex's Zlatan unidirectional (UD) carbon fiber material and offer a highly aesthetic, lightweight, and high-performance product as opposed to the standard painted alternative, according to the company.
• In September 2022, Xenia Materials launched XECARB ST, a new line of carbon fiber-reinforced composites that have been custom-engineered to offer superior impact strength performance. The thermoplastic composites are based on a range of polyamide matrix materials, including PA66, PA6, PA11, PA12, PA6.10, PA6.12 and PA4.10, which have been selected to meet different mechanical, thermal and physical requirements. Standard carbon fiber content is 30% and the PA6-based composites are also available in CF20, CF25, CF35 and CF40 grades.