Composites are finding their way into new applications as industries – including aerospace, wind, oil and gas, automotive, and sporting goods – demand new materials with ever-higher strength-to-weight ratios, resistance to corrosion, and workability. However, so far, composites’ high cost has precluded them from many mass-market applications. To assess the penetration of advanced composites into these target applications, we built a detailed model that projects the market sizes of these materials through 2020. All told, we expect the markets for these advanced composites to reach $25.8 billion in 2020 – and to constitute 139,000 metric tons carbon fiber, 1,099 metric tons MWNTs in our main scenario, and 601 metric tons GNPs – with wind overtaking aerospace as the main demand driver.
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