Recently, several listed companies have announced the performance of carbon fiber business in 2020, their revenue and net profit have achieved rapid growth. While the global carbon fiber market was seriously affected by the pandemic, China’s carbon fiber industry in 2020 bucked the trend and delivered the best report card in recent years.

The COVID-19 outbreak since 2020 has led to some important changes in demand in the global carbon fiber market. Relevant statistics showed that in 2020, the total demand of the global carbon fiber market was about 105,000 tons, with a year-on-year growth rate of only 1 percent, and the growth rate was significantly slower than that of previous years.

 

In the total global carbon fiber consumption in 2020, the wind power market accounted for about 23 percent, ranking first; the aerospace field accounted for about 20 percent, ranking second; the sports goods field accounted for about 12 percent, ranked third.

 

China’s output of carbon fiber increased to 12,000 tons in 2019, while the total demand for carbon fiber in the Chinese market reached 37,840 tons in the same period. It was estimated that the production of domestic carbon fiber increased to about 15,000 tons by 2020. From 2016 to 2017, the output of domestic carbon fiber was 3,600 tons and 7,400 tons respectively. From a practical point of view, what are the reasons driving the rapid growth of domestic carbon fiber market production, sales and profitability in 2020? Some industry insiders said that the first is still driven by the rapid growth of wind power market demand.

 

In addition, in 2020, the sports equipment, automobile, building reinforcement and other markets developed steadily, and the demand from the military and aerospace market was relatively strong, which became an important engine driving the whole carbon fiber market.

 

According to relevant agencies, although the global carbon fiber market is still obviously affected by the pandemic, it still has good development potential. The global carbon fiber market is expected to increase to 200,000 tons by 2025.