Carbon fibers are usually combined with other materials to make a composite. When combined with a plastic resin and wound or molded it forms carbon fiber reinforced polymer (often mentioned as carbon fiber) which features a very high strength-to-weight ratio, and is extremely rigid although somewhat brittle. However, carbon fibers also are composited with other materials, such as with graphite to make carbon-carbon composites, which have a really high heat tolerance. Carbon fibers are, by far, the most widely used fiber in high-performance applications. This important technology has huge potential for the longer term and it's expected to possess a significant impact within the manufacturing industry within India and, therefore, coordination and strategic road mapping actions are required.
Composites are widely used across industries like aerospace, wind energy, automotive, industrial, marine, oil and gas. Advanced carbon fiber composites are comparatively costlier than metals. The selection of composites is tradeoff between cost and performance. As a result, carbon composites have made their impact in high performance vehicles, such as, jet fighters, space craft, racing cars, racing yachts and exotic sports cars. The values of worldwide carbon fibre sales in these areas ($2.034 billion) don’t, however, correspond to the volumes of carbon fibre utilized in the various application areas. The report adds that aerospace and defiance, as an example, uses only 18% of the entire quantity of carbon fibre but accounts for around 40% of the worth of worldwide sales.
This sector consumed 15,000 tonnes of carbon fibres in 2012 and could reach 23,000 tonnes in 2016 and 37,000 tonnes in 2020. These figures are however less optimistic that those that were forecast by the specialists in previous years. Indeed, even if the pressure to use renewable energies is high and if legislation is increasingly restrictive, the policies of the public authorities in terms of subsidies and development strategies (offshore wind farms, etc.) can have a decisive influence on the market for composites. The carbon fiber market is projected to grow from USD 4.7 billion in 2019 to USD 13.3 billion by 2029, at a CAGR of 11.0% between 2019 and 2029. The market is growing due to its increasing demand from aerospace & defense, automotive, and wind energy industries. Entrepreneurs who invest in this project will be successful.
