Lux Research forecast: Carbon fibre reinforced plastics market will grow to $64bn by 2030

Arabian Industry | Sep 24, 2020 at 2:00 AM
  • Carbon fibre reinforced polymers (CFRPs) are a critical class of performance materials, but disruptions from Covid-19 have made the future of the industry uncertain.
  • In a new report, ‘The Future of Carbon Fiber Composites’, Lux Research outlines major challenges and opportunities carbon fibres and CFRPs face and how standardisation and recycling are enabling the CFRP market to grow to a $64bn industry by 2030.
  • The carbon fibre industry is facing three major challenges: weakness in underlying markets, fibre standardisation, and recycling.