After years of steady but unimpressive growth, the global carbon fiber industry is finally set for a boom in revenue, thanks to burgeoning demand from the wind energy market, according to the latest report from business intelligence company GBI Research.
According to the firm’s latest release, global carbon fiber demand will hit 153,700 tons in 2020, climbing from 52,500 tons in 2012—a massive increase of 193% in just eight years.
Wind energy—a vital segment of the rapidly expanding renewable energy market—will be the key driver of the carbon fiber industry, GBI Research colcluded.
Currently, wind turbine blades constructed from Glass Fiber Reinforced Polymer (GFRP) dominate the industry landscape, but due to their greater rigidity, lower weight and reduced cost, producers are making the move to carbon fiber alternatives.
