The market for advanced composite materials is set to grow by 16% annually to $25.8 billion in 2020 - from just $7 billion in 2011.
But, according to a study by US-based Lux Research, while aerospace has traditionally been the biggest consumer of new structural materials, wind turbines will replace the industry as the leading advanced composites market, owing to the growth of offshore installations.
According to Lux's study - Carbon Fiber and Beyond: The $26 Billion World of Advanced Composites - by 2020, wind will account for $15.4 billion in advanced composites use, compared to just $6.3 billion for aerospace.
By 2020, Lux expects the market by weight to be 139,000 tonnes carbonfibre, 1,099 tonnes multi-walled carbon nanotubes (MWNTs) and 601 tonnes graphene nanoplatelets (GNPs). Automotive demand for conductive composites will be the main driver of MWNT and GNP use.
Source: Flight International