Provided by BIS Research
In the last few years, lightweight materials have replaced the traditional use of woods, cast iron, stone bricks, and copper. Driven by the disadvantages of these traditional materials, such as low resistance to corrosion, heat, extreme temperature, and high maintenance costs, lightweight materials, e.g. continuous fibre composites (CFCs), have gained importance. They are used extensively in the developed regions such as North America and Europe.
A lightweight with the strength of steel
CFCs are fiber reinforced polymer composites. Some of the composites are woven fabric, non-crimp fabrics, unidirectional fibre tapes, and glass mats. They are light in weight and possess the same strength as that of steel, have high fatigue resistance and stiffness retention under repeated loading and resistance to creep. They also display high resistance to corrosion, excessive heat, extreme temperature, and high electrical and thermal conductivity. Thusly, the lightweight materials increase fuel economy, reduce the CO2 emission and have a longer service life, which, in turn, reduces the maintenance costs.
It’s not surprising that CFCs have been adopted by various end-user industries such as automotive, aerospace & defense, electrical and electronics, and sporting goods. For instance, integration of lightweight materials such as carbon fibre composites into vehicles significantly reduces vehicle weight by 50-60% and increase fuel efficiency by 10-20%. Premium cars and especially racing cars utilise carbon fibres to improve vehicle dynamics, design, and strength e.g. in the hood, roof panels, and air splitters. These lightweight materials play a vital role owing to their ability to resist rust or corrosion, unlike steel and aluminium.
Despite high cost global continuous fibre market expected to grow
While the demand for carbon fibres is increasing across industries, its high cost is restraining growth in the global market. However, stringent government regulations for the adoption of continuous fibre composites, superior properties of composites as compared to conventional materials, and growing demand are just some factors responsible for the growth of the market.
According to the latest market intelligence report ‘Global Continuous Fibre Composites Market-Analysis and Forecast (2017-2022)’ the global continuous fibre market is expected to register a CAGR of 5.5% and 6.3% by value and volume, respectively.
Over the recent years, the prominent market players have ramped up their product launch activities to generate public awareness about their existing and new products and technologies. Some of the leading market players are Huntsman Corporation, Hexcel Corporation, Chomarat, PolyOne Corporation, Lanxess AG, and Axia Material Co. Ltd.
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