According to a new research report from Lux Research, with the continuous reduction of carbon fiber production costs through innovative technologies, the global carbon fiber reinforced plastics (CFRP) market will increase from US$14.6 billion in 2012 to US$36 billion by 2020, with an average annual growth rate. The speed is 13%. It is predicted that with the advancement of technology, the cost of CFRP production will be greatly reduced, from the current benchmark of 21.2 US dollars / kg to 18.5 US dollars / kg in 2017. The reduction in the cost of CFRP helps to broaden its application in new areas such as pressure vessels, marine equipment, consumer electronics, construction, molds and medical equipment. However, aerospace and wind power equipment will remain the most important application areas for CFRP. In addition, the application of CFRP in automobile production will also grow rapidly. The global automotive CFRP market will grow to 7,885 tons in 2017, and the average annual growth rate in 2010-2017 will be as high as 31.5%. At the same time, its sales will also increase from $14.7 million in 2010 to $95.5 million in 2017. At present, the automotive CFRP is still in its infancy, but it will usher in explosive growth in the future. At present, many carbon fiber manufacturers are cooperating with automobile manufacturers to conduct CFRP research, such as Dongli and Daimler joint-venture production of carbon fiber automotive parts; SGL Group and BMW Group joint venture in the United States Moses Lake SGL car carbon fiber Co., Ltd. has also been successfully put into production. The lightweight carbon fiber-reinforced plastic produced at this plant is used in the automotive industry and is used exclusively by the BMW Group. The first application is the BMW i3, which will be launched in 2013; Teijin will launch the world's first large-scale production of CFRP technology, which can reduce the molding time of automotive frames to less than one minute. Flanged Ball Valves,Flange Floating Ball Valve,Stainless Steel Flange Ball Valve Pioneer Automation Instrument Co., Ltd. , http://www.lnvalves.com
Global carbon fiber reinforced plastic market value will reach 36 billion US dollars