Analysis of the current development of the carbon fiber composite industry

I. Overview of carbon fiber composites

Carbon fiber is made of polyacrylonitrile (PAN) (or asphalt, viscose) and other organic parent fibers by pyrolysis method under high temperature carbonization of inert gas above 1000 degrees Celsius, which is a kind of inorganic polymer fiber with carbon content above 90%. Carbon fiber composites are made of two or more materials with different properties, and through physical or chemical methods, they are composed of materials with new properties on a macro level. Various materials complement each other in performance and produce synergistic effects, so that the comprehensive performance of the composite material is better than the original composition of materials to meet a variety of different requirements.

Second, the current situation of carbon fiber composite industry

According to the data, the output of carbon fiber composites in China is 482,700 tons in 2020. In the future, with the increase of China's scientific research capability and the steady development of carbon fiber composite industry, the output of carbon fiber composites in China will show a rising trend, and it is expected that the output of carbon fiber composites in China can reach 526,800 tons in 2021 and 570,900 tons in 2022.

Source: Public information

Resin-based carbon fiber composites are the main carbon fiber composites. According to the data, the global market size of carbon fiber composites reached $21.5 billion in 2019, of which the market size of resin-based carbon fiber composites was $17.37 billion, accounting for 80.8% of the global carbon fiber composites market size.

Third, the carbon fiber composite industry market pattern

Carbon fiber composites have a wide range of applications in aerospace, sports and leisure, wind power blades, automobiles, hybrid models, pressure vessels, construction and other fields. In terms of the demand for carbon fiber composites in application fields, wind power blades are the largest demand market in the world, with a 25% demand share. The aerospace sector is the second largest market, with a demand share of 23%, second only to wind power blades.

The global carbon fiber composites market in 2019 is $21.5 billion, up 25.2% year-on-year. In terms of the total value of carbon fiber by application, the total value of carbon fiber composites applied in the aerospace field accounted for 62%, and the average unit price reached about 300 USD/kg, which are significantly higher than other fields.

From the domestic demand of carbon fiber composite applications, the demand in the field of sports and leisure and wind power blades is high, with a market share of 37%. The demand for carbon fiber composite materials in the domestic market is only 4%, which is much lower than the international level. 2019 domestic demand for carbon fiber composite materials in various applications

The domestic carbon fiber composites market in 2019 was 42.757 billion yuan, up 51.12% year-on-year. In terms of the total value of carbon fiber by application, the unit price of carbon fiber composites for aerospace is higher, about 7000 yuan/kg in 2019. therefore, from the amount, the market size of carbon fiber composites aerospace sector accounts for a larger proportion, reaching 35%.

Fourth, carbon fiber composite industry-related policies

China will be fiber composites, high-performance fibers and products and composite materials industry as a strategic emerging industries, focusing on supporting the development of fiber composites industry, the State Council and various ministries and commissions issued a number of policies to encourage support the development of fiber composites industry progress.