Carbon fiber industry analysis report: high barriers, high growth, domestic substitution is timely
Carbon fiber is an irreplaceable and important strategic material for both military and civilian use, and the technical barriers are extremely high.
1. Carbon fiber has irreplaceable excellent properties and is widely used.
2. The technical barriers to carbon fiber are extremely high, and raw fiber quality is the key.
3. The dual-carbon policy drives the development of multiple downstream applications, and the carbon fiber market demand is vast.
The demand for carbon fiber in China is expected to grow rapidly in the coming years, while high-performance, low-cost, high-quality production capacity remains in shortage. In the next few years, under the dual carbon policy, rapid development in industries such as global wind power, photovoltaics, hydrogen energy, and new energy vehicles will drive the demand for carbon fiber in wind turbine blades, carbon-carbon composite materials, pressure vessel carbon fibers, and automotive carbon fibers. Furthermore, as a strategic material with both military and civilian applications, the demand for carbon fiber in sectors like aerospace, sports and leisure, and construction will continue to rise. It is projected that the annual compound growth rate of China's carbon fiber market demand will maintain at over 26% in the next four years. In the upcoming years, global plans for new carbon fiber production capacity will mainly focus on China. Due to the high technological barriers of carbon fiber, only a few leading companies in China currently possess the core production technologies. The scale effect of carbon fiber is significant, and the expansion of leading companies will help reduce production costs and enhance market competitiveness. Additionally, the decrease in carbon fiber costs will facilitate increased penetration in downstream industries.
