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Lux Research, Inc.
Carbon Fiber Composites to More than Double to $36 Billion in 2020
The lightweight materials will provide energy efficiency in auto, aero, and wind, as carbon fiber prices fall by half to $10.5/kg, says Lux Research.
BOSTON, MA – October 4, 2012 – As innovative new production technologies lower carbon fiber cost, the global market for carbon fiber reinforced plastics, or CFRPs, will more than double to $36 billion in 2020, growing at a compound annual growth rate of 13% from $14.6 billion in 2012, according to a Lux Research report.
Polyolefin-precursor carbon fiber, combined with alternative thermal treatment mechanisms, will reduce cost from a baseline of $21.2/kg today to $10.5/kg at pilot-line scale in 2017, driving greater adoption across newer industries such as pressure vessels, marine, consumer electronics, construction, tooling, and medical.
“Aerospace and wind will duke it out for supremacy, while potentially high-volume automotive uses advance at a pedestrian pace,” said Ross Kozarsky, Lux Research Senior Analyst and the lead author of the report titled, “Stronger, Lighter, Faster…Cheaper? How Innovation Will Affect Carbon Fiber’s Cost and Market Impact.”
To assess current CFRP manufacturing costs and examine the innovation potential of each step of the process, Lux Research analysts built a detailed model that examines material, capex, infrastructure, labor, and utility contributions, and their potential for cost reductions. Among their findings:
The report, titled “Stronger, Lighter, Faster…Cheaper? How Innovation Will Affect Carbon Fiber’s Cost and Market Impact,” is part of the Lux Research Advanced Materials Intelligence service.
About Lux Research
Lux Research provides strategic advice and on‐going intelligence for emerging technologies. Leaders in business, finance and government rely on us to help them make informed strategic decisions. Through our unique research approach focused on primary research and our extensive global network, we deliver insight, connections and competitive advantage to our clients. Visit www.luxresearchinc.com for more information.