Future Materials Group (FMG), the strategic advisory firm for the advanced materials sector, plans to publish an analysis of how the carbon fiber market might grow over the next 20 years.
The analysis will be released at the JEC World show taking place in Paris, France, next month.
In particular, FMG explored the impact of potential future developments in the aerospace and automotive sectors on the carbon fiber industry. During JEC World, the company will release industry briefings and video commentaries outlining its insights, which propose radical scenarios for the growth of the carbon fiber market through 2034.
‘The key opportunity for carbon fiber in commercial aerospace is its potential adoption in narrow bodied aircraft,’ said David Schofield, managing director, FMG. ‘If that is successful then even with just a 25% adoption it would increase the market for carbon fiber in commercial aerospace by a factor of two in the next 20 years.’
According to the company, the automotive market offers even greater potential. ‘If 1% of a luxury or niche car were made of carbon fiber, then the carbon fiber automotive market would grow exponentially from the US$250 million it is today up to US$3 billion easily in the next 20 years,’ suggested Dr Myriam Yagoubi, FMG research analyst. ‘If mass market cars were to adopt just 1 kg of carbon fiber per car on average the market could double again to US$6 billion.
This story uses material from FMG, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
