The modern automotive industry is always on a look out for ground level solutions for increasing the fuel efficiency of their products and using carbon fibers is really considered as a probable option to alleviate this problem and that is one of the primary reasons that the global Carbon Fiber Market is experiencing a boom over the past couple of years or so. Being extremely light weight and also for their due diligence carbon fiber is now extensively used in the production of heavy automobiles as a necessary measure for weight reduction.
According to a number of prominent global market research company it is expected that the global carbon fiber market is going to grow at an average rate of 17% per annum for the next five years or so and by the year 2020 the total worth of global carbon fiber market will be an impressive 26 billion dollars. Also as per many business magazines it is really difficult to underestimate the real potential of the market as carbon composites are now being used in the manufacturing of a wide variety of products and the number of carbon fiber consumers is also increasing with an alarming rate.
It might sound quite strange but it is quite true that the production of low cost carbon fiber with due diligence was considered almost impossible, but with sustained effort in their development and research along with proper government patronization a lot of progress has been made and now for the many Market Research companies, the global carbon fiber market has a very prospective future lying ahead of it and can really lead to a global economic growth and reduced carbon emission at the same time. Different types of carbon fiber are now being used to join satellites, microchips and internet and are also used in nuclear power production units for their due diligence and other notable qualities.
Apart from its great strength and light weight the other most important features of carbon fiber are its low thermal extension, along with the capability of electric conduction and great tensile strength that has made it the material preferred by most heavy machinery and automobile mobile manufacturing companies and those market research company predictions have every resin to come true in the next five years or so. The latest cars from the most prominent global automobile giants use carbon fiber extensively to reduce the weight and add to the dynamic quality of the vehicle and most of the time the bonnet, the hood and the boot along with the fender are made with carbon fiber composites to make the cars more diligent and lightweight at the same time and that has provided the global Carbon Fiber Market the necessary boost that it was always waiting for.