The global demand for carbon fiber increased by 2.4% in Q3 2021 as compared to Q2 2021. Airbus and Boeing aircraft deliveries increased by 23% in Q3 2021 as compared Q3 2020 level. Demand for carbon fiber was driven by increasing demand from sporting goods manufacturers during Q3 2021. Carbon fiber prices increased by about ~6.6% in Q3 2021 as compared to Q2 2021; price increase is mainly driven by global supply chain disruption and increased costs of ocean freight and containers.
In Q4 2021, the global demand for carbon fiber is forecasted to increase by 3.2% from Q3 2021; this increase will be driven by recovery on aircraft deliveries and automotive industry. Carbon fiber price is forecasted to increase by 8.4% in Q4 2021. The figure below depicts the change in demand and the price of carbon fiber over the past five quarters and one forecast quarter.
Source: Lucintel
Figure1: Global Quarterly Carbon Fiber Shipment and Price Trends
North America
In Q3 2021, the carbon fiber demand in North America increased from Q2 2021 and the demand is expected to increase in Q4 2021 as well. The growth is due to increased usage of carbon fiber in automotive applications and projected growth in aircraft deliveries. The primary concern for the composites industry right now is managing the supply chain to access enough raw materials and other critical logistics to capitalize on the immediate demand.
Europe
In Q3 2021, demand for carbon fiber improved in the European market as compared to Q2 2021 and this improvement is expected to be maintained in next quarter of 2021. Major driver of demand growth is growth in end use markets including wind, automotive, and aerospace. Growth in the European market is also driven by lightweight nature, energy efficiency, and cost-effectiveness of carbon fiber.
APAC
In Q3 2021, demand for carbon fiber increased from Q2 2021 as consumption of carbon fiber grew in end use markets like sporting goods and construction industries. This demand growth is expected to continue in Q4 2021 also with reduction in supply chain disruption and growth in end use markets like aerospace, wind, automotive, and construction. Carbon fiber price in Asia increased in Q3 2021 due to supply shortages, global plant issues, and high ocean freight cost.Enable GingerCannot connect to Ginger Check your internet connection
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