The global demand for carbon fiber increased by 3.9% in Q1 2022 as compared to Q4 2021. Demand for carbon fiber was driven by growth in wind energy installation activities and increasing demand from sporting goods manufacturers during Q1 2022. Carbon fiber prices increased by about ~7.9% in Q1 2022 as compared to Q4 2021; price increase is mainly due to global supply chain disruption, high logistical cost, and increased price of raw material.
In Q2 2022, the demand for carbon fiber is forecast to increase by 5.1% from Q1 2022; this increase will be driven by increasing demand from sporting goods, wind, and industrial sector. Carbon fiber price is forecast to increase by 5.3% in Q2 2022. The figure below depicts the change in demand and the price of carbon fiber over the past five quarters. Data also provides forecasts for Q2 of 2022 as below.
Source: Lucintel
Figure: Global Quarterly Carbon Fiber Shipment and Price Trends
North America
In Q1 2022, the carbon fiber demand in North America increased from Q4 2021 and the demand is expected to increase in Q2 2022 as well. The growth is due to increased usage of carbon fiber in wind, automotive applications, and 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 Q1 2022, the demand for carbon fiber improved in the European market as compared to Q4 2021 and this improvement is expected to be maintained in the second quarter of 2022. The major driver of demand growth is growth in end use markets like wind industry. In Q1 2022, carbon fiber price increased and it is also expected to increase in next quarter due to high raw material price, high freight cost, and stronger supply chain disruptions.
APAC
In Q1 2022, the demand for carbon fiber in APAC increased from Q4 2021 as consumption of carbon fiber grew in end use markets like wind and sporting goods. This demand growth is expected to continue in Q2 2022 also with recovery in economic activity and rebound in consumption. Carbon fiber price in Asia increased in Q1 2022 due to supply shortages, global plant issues, and logistical issues.
The price and demand analysis on above is published monthly for various regions. Lucintel analysts collect supply, demand and price data from various suppliers and consumers on a monthly basis and also analyzes news on supply and demand issues, production, and price trends. This allows Lucintel to publish unbiased assessments on price and demand movements to help you make confident business decisions on your negotiation or business issues.
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