Led by industrial applications, such as the manufacture of aircraft, automobiles, pressure vessels, wind turbines and sporting goods, the global market for carbon fibers is growing dramatically—more than 8% per year through 2020, according to new research from business intelligence company IHS Markit (London).
IHS Markit expects global consumption of carbon fiber to grow from over 60 thousand metric tons (TMT) in 2015 to approximately 90 TMT by 2020. Carbon fibers are lightweight, high-strength materials that serve as reinforcing agents in high-performance composites made from specialty epoxy resins and engineering thermoplastics.
Read more: Aircraft, automobile manufacturers driving demand for high-strength, lightweight carbon fiber