Carbon Fiber and the Pandemic

 

After experiencing a decade of growth, the carbon fiber industry has faced some of the same challenges as many other businesses on the planet after a global pandemic. The arrival of COVID-19 interrupted what had been an 11% year-over-year growth in an industry that had nearly doubled in size between 2009 and 2019.1 The carbon fiber industry wasn’t exempt from the havoc wreaked by the pandemic. 

Some of the impacts the carbon fiber industry began to experience in early 2020 were a direct result of COVID-19’s effect on other industries. Take the airline industry, for example. The decrease in airline travel led to less need for new airplanes to be built, and the estimate is that the industry won’t return to pre-COVID-19 levels until around 2024.2 With less airplanes being built, the need for carbon fiber aero parts has subsequently decreased. This effect is also being felt in the automotive industry, which is in the midst of its recovery. The use of carbon fiber materials in the production of automotive parts is still relatively new, but the impact is being felt even though the automotive industry accounts for only about 10% of the carbon fiber market.3

It’s not all doom and gloom, however. There were a few bright spots across several industries during the pandemic. The wind energy industry remained relatively unaffected by the pandemic. With communities locked down or choosing to stay at home more during the height of the virus’ spread, the sporting goods industry experienced a surge during 2020 as homebound people splurged on golf clubs, bicycling became uber popular, and outdoor activities such as boating got people outdoors safely. 

While economies around the world continue to recover, it’s clear there is ample growth on the horizon for the carbon fiber industry. The continued expansion of its uses in a broad range of products, including its use in the construction industry for strengthening foundations, walls, and concrete, carbon fiber isn’t going anywhere anytime soon.

For more information about carbon fiber products, get in touch with Carbon Fiber Support today! 

 

 

1 “Composites: Carbon fibre after COVID-19,” Innovation in Textiles Online, May 10, 2021, https://www.innovationintextiles.com/carbon-fibre-after-covid19/

2 “Composites: Carbon fibre after COVID-19,” Innovation in Textiles Online, May 10, 2021, https://www.innovationintextiles.com/carbon-fibre-after-covid19/

3 “Composites: Carbon fibre after COVID-19,” Innovation in Textiles Online, May 10, 2021, https://www.innovationintextiles.com/carbon-fibre-after-covid19/