Composite materials are gaining significant momentum across various industries, particularly in aerospace, automotive, and offshore wind energy sectors. Renowned for their high strength, lightweight properties, and corrosion resistance, these materials offer compelling advantages.
However, experts caution that their development faces obstacles such as high production costs and complex recycling and reuse technologies. While market prospects are promising, Taiwan's regulatory framework needs to evolve to support a viable commercial model.
According to Market Data Forecast, the composite materials market is poised for substantial growth. Valued at US$97.06 billion in 2023, it is projected to reach US$154.82 billion by 2028, with a compound annual growth rate (CAGR) of 9.6%.
The Materials and Chemical Research Laboratories at the Industrial Technology Research Institute identify aerospace, automotive, and wind energy as the primary markets for composite materials. The automotive sector, in particular, is experiencing a shift towards electric vehicles (EVs), where lightweight and rapid hardening are becoming key trends. Innovations in this space include fast-curing resins, automated production lines, and low-cost carbon fiber materials.
Major automakers like Tesla, BMW, and Audi are incorporating composite materials into their electric and hybrid vehicles to enhance performance and range. Voith's investment in automated filament winding equipment for automotive components exemplifies the industry's push towards efficiency, with the potential to produce around 65,000 units annually.
Sustainability challenges and future directions
As environmental awareness grows, the focus is shifting towards renewable and recyclable composite materials, as well as low-cost, low-energy, and recyclable technologies. The demand for carbon fiber and recycling is particularly significant in areas such as EV battery modules and large wind turbine blades.
Siemens Gamesa, a key player in wind energy, acknowledges the challenge and expense of recycling wind turbine blades. Intending to achieve full supply chain carbon neutrality by 2040, the company is partnering with suppliers like Swancor to ensure all resins supplied from 2026 onwards will be recyclable.
Looking ahead, the use of carbon fiber for blades over 45 meters long could become essential, as it can reduce weight by 20%-30% compared to glass fiber composites.
However, the path forward is fraught with challenges. These include the need for stable, high-quality fiber waste supplies and commercially viable low-cost recycling technologies. For effective implementation, fiber regeneration manufacturers and product producers must form alliances.
Currently, aerospace waste and scrap materials are straightforward and traceable, but composite waste from other industries presents challenges in terms of specifications and traceability.
For recycling technologies to succeed, the process cost must be low and the production equipment must meet low carbon emission standards. Pyrolysis, the most mature carbon fiber recycling technology, is focused on developing low-cost, low-energy equipment to drive its growth.
As the composite materials market continues to expand, addressing these challenges will be crucial for sustainable growth and widespread adoption across industries.
