The Carbon Fiber Industry of India and Its Market Share
Carbon fiber is composed of carbon atoms merged to form a long chain. The fibers are extremely stiff, strong, and light and these are used in multiple processes to get excellent building materials. The material of carbon fiber comes in a variety of raw building blocks that includes yarns, weave, braids and many others that are in turn used in creating composite parts. The weight of carbon fiber is near to that of plastic and the properties of it are close to that of steel. The carbon fiber is extremely strong and used widely by multiple industries, a few of them are mentioned below
Carbon Fiber in Flight
The carbon fiber in the aerospace industry is recorded to reach a projected $1.56 billion by 2025 with a CAGR of 4.2% from 2020 to 2025. It is right to say that carbon fiber has gone to the moon on spacecraft, although it is mostly used in aircraft components and structures, where its strength to weight ratio exceeds any metal. 30% of carbon fiber is used in the aerospace industry. Carbon fiber is playing its part due to its increased range and simplifying maintenance in helicopters to gliders, fighter jets to microlights.
The application of carbon fiber in sports goods is different from the stiffening of running shoes to ice hockey sticks, tennis racquets, and golf clubs. Many lives have been saved from carbon fiber on motor racing circuits from its strength and damage tolerance in body structures as the shells are built from it. Carbon fiber is used in crash helmets too and it is used by rock climbers, horse riders, and motorcyclists. Moreover, it is used in all sports where there is a danger of head injury. The global carbon fiber in the sports equipment market to grow at a CAGR of 6.92% during the period 2017-2021.
Usage in Military
Just like sports goods in the military to carbon fiber are used in different ways; from planes and missiles to protective helmets, that provide strength and weight reduction across all military equipment. Almost every day a new military application is announced. No doubt the latest and most exotic military application is for small flapping wings on miniaturized flying drones that are used for surveillance missions.
Carbon fiber offers various advantages than other materials in the medical field. Carbon fiber is widely used in imaging equipment structures to get limbs being X-rayed or treated with radiation. Possibly the widely known medical use of carbon fiber is of prosthetics, artificial limbs.
Carbon fiber is also widely being used in automobiles. With it, supercar bodies are built now. Although its use is mostly being done on internal components like instrument housing and seat frames.
Carbon Fiber Industries forecasted Growth
The market size of carbon fiber globally was valued at USD 2.25 billion in the year 2015 and is recorded to grow at a CAGR of 10.9% from the year 2017 to 2025. High demand for carbon fiber from the automotive and aerospace industries is mostly the key driving factor for it. High demand from automotive coupled with an increasing need for lightweight vehicles is recorded to push the demand in the forecasted period. The need for fuel-efficient vehicles with government regulations related to automotive pollution is expected to drive a key role during the forecasted period.
The detailed project report by NPCS on “Carbon Fiber, Carbon Fiber Composites, Graphite Fiber, and Carbon Fiber Reinforced Polymer Projects” is all you need to know the reasons for investing, along with the industry size, market potential of the carbon fiber industry. The project report on carbon fiber and fiber composites covers the Indian market and also presents an analysis forecasted market to provide all the important information for the people connected to the industry.