Advanced Structural Carbon Products: Fibers, Foams and Composites

Advanced Structural Carbon Products: Fibers, Foams and Composites

INTRODUCTION

STUDY GOALS AND OBJECTIVES

The goal of this study is to provide a comprehensive understanding of advances in structural carbon materials manufacturing, its commercial applications, and its worldwide markets. For the purposes of this report, these materials will include all types of carbon fibers, carbon foams, monolithic structural graphite, and carbon-reinforced carbon composites.

To attain this goal, several objectives will be met. The major types of structural carbon materials will be described, including key physical and chemical properties, raw materials, and manufacturing processes. Commercial applications in which these materials are used will be discussed.

Present consumption and future demand for these materials will be evaluated for the United States and other major geographical markets. Trends in technology will be analyzed and forecasted. The impact of governmental regulations will be ascertained. The dynamics of the structural carbons industry will be outlined along with profiles of key manufacturers.

REASONS FOR DOING THE STUDY

This study is an update of an earlier BCC report that was published in 2005. The structural carbon materials industry and markets have continued to develop in the 3 years since the previous edition was published.

The structural carbon materials industry serves mature industries such as defense and aerospace, with a wide variety of products satisfying the requirements of well-established applications. These sectors are heavily regulated. However, continuous technical innovations and attempts to make its technologies available to civil markets (at affordable prices) are leading to new application segments.

Corporations engaged in the structural carbons industry must understand the significance of these trends to manage their enterprise and its resources effectively. Stakeholders in these competitive technologies and products must understand the impact of these trends upon their operations. End users of structural carbons must consider the effect of these changes to select the most cost-effective option among newly available products and technologies prior to committing significant capital resources.

INTENDED AUDIENCE

Over the next half-decade significant change will take place in global structural carbon products and applications. Technological advances in improving structure-property relationships of advanced carbon materials and breakthroughs in the manufacturing processes—resulting in lower costs—will lead to novel applications. This study analyzes the driving forces that will shape the structural carbons industry over next few years.

Consequently, the information presented in this study is very important to:

• Members of the financial community who must understand, assess, and rate the effect of forthcoming changes in the structural carbons industry based upon the financial performance of the companies active in this market segment
  
  
• Chief executive officers who must effectively manage the assets of their company so as to benefit from forthcoming changes in the structural carbons industry
  
  
• Directors of planning who must incorporate anticipated changes in the structural carbons industry into corporate planning documents
  
  
• Directors of manufacturing who must implement new structural carbons technology and products into their operations
  
  
• Directors of engineering, research, and development who must incorporate the latest in structural carbons technology and products into their designs and projects
  
  
• Decision makers at major structural carbons consumers, such as the Department of Defense contractors involved in aerospace and aircraft manufacturing
  
  
• Executives at companies engaged in developing competitive materials and technologies such as other reinforcement fibers like Kevlar or composites manufactured with other matrix materials such as ceramics or metal.

CHAPTER ONE: INTRODUCTION

STUDY GOALS AND OBJECTIVES

REASONS FOR DOING THE STUDY

INTENDED AUDIENCE

SCOPE OF REPORT

METHODOLOGY AND INFORMATION SOURCES

ANALYST’S CREDENTIALS

RELATED BCC REPORTS

BCC RESEARCH ONLINE SERVICES

DISCLAIMER

CHAPTER TWO: SUMMARY

SUMMARY TABLE U.S. MARKET FOR STRUCTURAL CARBON MATERIALS BY USER SEGMENT, THROUGH 2013 ($ MILLIONS)

SUMMARY FIGURE U.S. MARKET FOR STRUCTURAL CARBON MATERIALS BY USER SEGMENT, 2007-2013 ($ MILLIONS)

CHAPTER THREE: INDUSTRY AND MARKETS OVERVIEW

UNITED STATES MARKET

FIGURE 1 UNITED STATES MARKET FOR ADVANCED STRUCTURAL CARBONS BY TYPE, 2007 (TOTAL = $1.7 BILLION)

FIGURE 1 (CONTINUED)

FIGURE 2 PROJECTED GROWTH RATE IN U.S. STRUCTURAL CARBONS MARKET, 2008-2013 (CAGR%)

FIGURE 2 (CONTINUED)

GLOBAL MARKETS

FIGURE 3 GLOBAL ADVANCED STRUCTURAL CARBONS MARKET BY TYPE, 2007 (TOTAL = $4.3 BILLION)

FIGURE 3 (CONTINUED)

FIGURE 4 GLOBAL STRUCTURAL CARBONS CONSUMPTION BY WORLD REGION, 2007 (%)

RESEARCH AND TECHNOLOGY TRENDS

INDUSTRY STRUCTURE

INDUSTRY STRUCTURE (CONTINUED)

CHAPTER FOUR: TECHNICAL OVERVIEW

INTRODUCTION TO ADVANCED STRUCTURAL CARBON PRODUCTS

FIGURE 5 TYPES OF STRUCTURAL CARBON PRODUCTS

IMPORTANCE OF MECHANICAL PROPERTIES

CARBON FIBERS

RAW MATERIALS FOR CARBON FIBERS

Types of Raw Materials

Rayon

PAN

Pitch

Raw Material and Fiber Properties Relationship

TABLE 1 DEPENDENCE OF CARBON FIBER PROPERTIES ON RAW MATERIALS

PAN-Based Fibers

Pitch-Based Fibers

Rayon-Based Fibers

MANUFACTURING PROCESS

PAN Carbon Fiber Process

Precursor Preparation

Polymerization

Spinning and Stretching

Stabilization

Carbonization

Surface Treatment

Sizing

Pitch Carbon Fiber Process

Precursor Preparation

Pitch Refining

Isotropic Pitch

Aniostropic or Mesophase Pitch

Thermal Modifications

Solvent Modification

Chemical Modification

Catalytic Modification

Melt Spinning

Stabilization

Carbonization

Graphitization

Viscose Rayon Carbon Fiber Process

Vapor-Grown Carbon Fibers

CHEMICAL AND PHYSICAL PROPERTIES

Structural Property Relationship for Carbon Fibers

Density

Modulus

Impact of Fiber Diameter

Electrical and Thermal Conductivity

Thermal Stability

TABLE 2 STRUCTURAL PROPERTY RELATIONSHIPS FOR CARBON FIBERS DERIVED FROM VARIOUS PRECURSORS

CARBON FIBER PRODUCT FORMS

Carbon Fiber Product Grades

PAN-Derived Fibers

Pitch-Derived Fibers

Tow

Carbon Fiber Cloth

Prepreg

EMERGING MANUFACTURING TECHNOLOGIES

Microwave-Assisted Plasma (MAP) Process

Ultraviolet (UV) Stabilization of PAN-based Carbon Fibers

Rapid Oxidation Step

Rapid Oxidation Step (Continued)

Advances in Spinneret Design

Surface Modification of Carbon Fibers

Advances in Pitch-Based Fiber Technology

Carbon Nanotubes Reinforcement of Carbon Fibers

Continuous Carbon Fiber Produced from Carbon Nanotubes

High-Thermal-Conductivity Carbon Fibers

Hollow Carbon Fibers

Carbon Nanofibers

Activated Carbon Fibers

Vapor-Grown Carbon Fibers (VGCF)

Three-Dimensional Carbon Fibers

MANUFACTURERS OF PAN-BASED FIBERS

Small-Tow Manufacturers

Cytec’s Carbon Fiber Production

Cytec’s Carbon … (Continued)

Hexcel’s Carbon Fiber Production

Other Manufacturers

Large-Tow Carbon Fiber Manufacturers

Zoltek Companies, Inc.

Toho Tenax America

SGL Carbon Fibers and Composites

MANUFACTURERS OF PITCH-BASED CARBON FIBERS

CARBON FIBER COMPOSITES

Carbon-Fiber-Reinforced Polymer Composites (CFRP)

Manufacturing Processes

Molding Process

Roving Process

Mechanical Properties

TABLE 3 TYPICAL MECHANICAL PROPERTIES OF CARBON-FIBERREINFORCED POLYMER COMPOSITES

Carbon-Fiber-Reinforced Metal Composites (CFRM)

Manufacturing Processes

Mechanical Properties

TABLE 4 TYPICAL MECHANICAL PROPERTIES OF CARBON-FIBERREINFORCED METAL COMPOSITES

CARBON FOAMS

RAW MATERIALS

TABLE 5 PROPERTIES OF PITCH RAW MATERIALS USED FOR CARBON FOAM MANUFACTURING

MANUFACTURING PROCESS

Flash Process

Blowing Gases

Sol-Gel Process

CHEMICAL AND PHYSICAL PROPERTIES

TABLE 6 PHYSICAL PROPERTIES OF PITCH-DERIVED CARBON FOAMS

TABLE 6 (CONTINUED)

EMERGING TECHNOLOGICAL TRENDS

Uniform-Density-Gradient Carbon Foams

Reinforced Carbon Foams

High-Strength Carbon Foams by Chemical Vapor Infiltration

Carbon Foams by Template Approach

Pitch-Based Carbon Foam

Carbon Foams for Pistons

High-Thermal-Conductivity Carbon Foams

Magnetic Carbon Nanofoams

Low-Cost Carbon Foams

MANUFACTURERS OF CARBON FOAMS

Honeywell

POCO Graphite

Touchstone Research Laboratory

University of Dayton and Wright U.S. Air Force Laboratory Alliance

STRUCTURAL GRAPHITE

TYPES AND MANUFACTURING OF GRAPHITE MATERIALS

Natural Graphite

Synthetic Graphite

FIGURE 6 SCHEMATIC OF MANUFACTURING PROCESS FOR SYNTHETIC GRAPHITE

PHYSICAL AND CHEMICAL PROPERTIES

Crystalline Structure

FIGURE 7 CRYSTALLINE STRUCTURE OF GRAPHITE

Lubrication

Thermal Properties

Oxidation Resistance

Chemical Resistance

Mechanical Properties

TABLE 7 PHYSICAL PROPERTIES OF GRAPHITE MATERIALS

EMERGING TECHNOLOGIES

Porous Graphite

High-Temperature Graphite Process

Flexible Graphite Sheets with Reduced Anisotropy

Expandable Graphite

Nanographite

CARBON-CARBON STRUCTURAL COMPOSITES

TYPES OF STRUCTURAL COMPOSITE MATERIALS

CARBON-REINFORCED CARBON MATRIX COMPOSITES

TABLE 8 ADVANTAGES AND DISADVANTAGES OF CARBONCARBON COMPOSITES

DIFFERENCES BETWEEN GRAPHITE AND CARBONCARBON COMPOSITES

TABLE 9 COMPARISON OF PHYSICAL PROPERTIES OF GRAPHITE AND CARBON-CARBON COMPOSITES

CHEMICAL AND PHYSICAL PROPERTIES

REINFORCEMENT ARCHITECTURE

One-Dimensional Architecture

Two-Dimensional Architecture

Three-Dimensional Architecture

Multidimensional Architecture

Foams for Reinforcement

MANUFACTURING PROCESSES

Architecture of Reinforcement Phase

Infiltration of Matrix Phase

Raw Materials for Matrix Phase

Chemical Vapor Infiltration Process

Temperature Gradient Process

Isothermal Process

Pressure Gradient Process

Liquid Pitch Infiltration Process

Raw Materials

Manufacturing Process

Low-Pressure Process

High-Pressure Process

Thermosetting Resins as Matrix Precursors

FIGURE 8 REPRESENTATION OF CARBON-CARBON COMPOSITE MANUFACTURING PROCESS

STRUCTURE AND PROPERTY RELATIONSHIPS

Microstructural Features

TABLE 10 COMPARISON OF CARBON-CARBON COMPOSITES PROPERTIES MANUFACTURED BY VARIOUS PROCESSING ROUTES

Mechanical Properties

Young’s Modulus

Strength

Fatigue and Creep

Effect of Temperature on Mechanical Properties

Effect of Oxidation on Mechanical Properties

Thermal Properties

Friction and Wear Properties

OXIDATION PROTECTION FOR CARBON-CARBON COMPOSITES

EMERGING TECHNOLOGIES

Oxidation Inhibition of Carbon-Carbon Composites

Rapid-Oxidative-Stabilization Composites

High-Purity Carbon-Carbon Composites

High-Density Carbon-Carbon Composites

Elimination of Need for Oxidative Stabilization of Carbon Composites

Novel Methods of Making Carbon-Carbon Composites

Sequential Deposit of Carbon Matrix and In Situ Polymerization

Rapid Processing of Carbon-Carbon Composites

Protective Coatings

Detecting Flaws in the Carbon Composites

Carbon-Carbon Composites from Densified Carbon Foam

Low-Temperature Densification Using Sugar Pyrolysis

Thick Three Dimensional Preforms for Carbon-Carbon Composites

High-Strength Composites Developed by NASA and JPL

Carbon-Carbon Frictional Composites for Elevator Brakes

Joining Carbon-Carbon Composites

Nanotubes in Carbon-Carbon Composites

CHAPTER FIVE: COMMERCIAL APPLICATIONS

CARBON FIBER APPLICATIONS

TABLE 11 PROPERTIES AND APPLICATIONS OF CARBON FIBERS

AEROSPACE AND DEFENSE INDUSTRY

Space Vehicles

Unmanned Spacecraft

Manned Spacecraft

Launch Vehicles

Total U.S. Space Market

TABLE 12 U.S. SPACE VEHICLE MARKET, THROUGH 2013 ($ BILLIONS)

Defense Market

Defense Aviation

Defense … (Continued)

TABLE 13 SALES OF U.S. MILITARY AIRCRAFT, THROUGH 2013 ($ BILLIONS)

Missiles

TABLE 14 U.S. MISSILE SHIPMENTS, THROUGH- 2013 ($ BILLIONS).... 104

Commercial Aviation

Large Aircraft

TABLE 15 DELIVERIES OF LARGE U.S.-MADE COMMERCIAL AIRCRAFT BY TYPE, THROUGH 2013 (UNITS)

Carbon Fiber Consumption

TABLE 16 CONSUMPTION OF CARBON-FIBER-REINFORCED COMPOSITES IN U.S.-MADE COMMERCIAL AIRLINERS

GROUND TRANSPORT

Trains and Locomotives

Motor Vehicles

INDUSTRIAL APPLICATIONS

WIND ENERGY

TABLE 17 TRENDS IN U.S. WIND POWER CAPACITY, THROUGH 2013 (MW)

TABLE 18 U.S. MARKET FOR WIND TURBINE ROTOR BLADES, THROUGH 2013 ($ MILLIONS)

SPORTING GOODS

Golf Clubs

TABLE 19 U.S. MARKET FOR CARBON FIBER COMPOSITE GOLF CLUBS, THROUGH 2013 ($ MILLIONS)

Bicycles

Recreational Boating

Sport Fishing

TABLE 20 U.S. SHIPMENTS OF CARBON FIBER FISHING RODS, THROUGH-2013 ($ MILLIONS)

Other Applications

INFRASTRUCTURE

New Bridge Construction

Bridge Repairs

Column Repairs

Seismic Retrofit

High-Strength Building Construction

Engineered Wood Products

Tension Leg Platform Tethers from Carbon Composites

Smarter and Stronger Concrete

New Manufacturing Process for Reinforced Concrete

THERMAL MANAGEMENT

Conductive Plastics

OTHER APPLICATIONS

Biocompatibility Applications

Electrochemical Applications

Static Dissipation Applications

Lightweight Telescope Mirrors

Hollow Carbon Fibers in Molecular Sieve Applications

Emerging Energy Systems

Turtle Airship Uses Carbon Composites

CARBON FIBERS MARKET GROWTH

TABLE 21 U.S. CONSUMPTION OF CARBON FIBERS, THROUGH 2013 (THOUSAND LBS.)

FIGURE 9 U.S. CARBON FIBER CONSUMPTION BY INDUSTRY SEGMENT, 2008 VS. 2013 (%)

TABLE 22 U.S. MARKET FOR CARBON FIBERS, THROUGH 2013 ($ MILLIONS)

FIGURE 10 U.S. CARBON FIBER MARKET BY INDUSTRY, 2008 VS.2013 (% OF TOTAL MARKET VALUE)

CARBON FOAM APPLICATIONS

AEROSPACE AND DEFENSE

Radiators

Fire Barrier Applications

Brakes

GROUND TRANSPORTATION

Automotive Radiators

Shock Absorbers and Bumpers

Other Automotive Applications

INDUSTRIAL APPLICATIONS

Sandwich Panels

Electronic Heat Sinks

Phase-Change Materials

ENERGY

Batteries

Fuel Cells

Radiators

Humidifiers

Supercapacitors

Nuclear Reactor Cores

Gas Storage

OTHER APPLICATIONS

Personal Cooling Devices

Health Care Applications

Acoustic Absorber Materials

CARBON FOAM MARKET GROWTH

TABLE 23 U.S. CONSUMPTION OF CARBON FOAM, THROUGH 2013 (THOUSAND LBS.)

FIGURE 11 U.S. CONSUMPTION OF CARBON FOAM BY INDUSTRY SECTOR, 2008 VS. 2013 (% TOTAL CONSUMPTION)

TABLE 24 U.S. CARBON FOAM MARKET GROWTH BY INDUSTRY, THROUGH 2013 ($ MILLIONS)

STRUCTURAL GRAPHITE APPLICATONS

AEROSPACE AND DEFENSE

GROUND TRANSPORTATION

INDUSTRIAL APPLICATIONS

Chemical Industry Applications

Mechanical Applications

Bearings and Brushes

TABLE 25 TYPICAL APPLICATIONS FOR GRAPHITE BEARINGS

Seals

Friction Materials

Metallurgy

Glassware

Refractory Applications

ENERGY

Fuel Cells

Nuclear Industry Applications

Hydrogen Storage

STRUCTURAL GRAPHITE MARKET GROWTH

TABLE 26 U.S. CONSUMPTION OF STRUCTURAL GRAPHITE BY INDUSTRY, THROUGH 2013 (THOUSAND LBS.)

FIGURE 12 U.S. CONSUMPTION OF STRUCTURAL GRAPHITE BY INDUSTRY SEGMENT, 2007 VS. 2013 (% OF TOTAL LBS. CONSUMED)

TABLE 27 U.S. MARKET FOR STRUCTURAL GRAPHITE BY INDUSTRY SEGMENT, THROUGH 2013 ($ MILLIONS)

CARBON-CARBON COMPOSITES APPLICATIONS

AEROSPACE

Space Vehicle Thermal Protection Systems

Space … (Continued)

Aircraft Engine Components

Aircraft Brakes

Other Aerospace Applications

GROUND TRANSPORTATION

Ground Transportation (Continued)

INDUSTRIAL APPLICATIONS

Refractory Structures

Glass Industry

Corrosion-Resistant Structures

Thermal-Management Solutions

ENERGY

OTHER APPLICATIONS

Biocompatible Structures

CARBON-CARBON COMPOSITES MARKET GROWTH

TABLE 28 U.S. CONSUMPTION OF CARBON-CARBON COMPOSITES BY INDUSTRY, THROUGH 2013 (THOUSAND LBS.)

FIGURE 13 U.S. CARBON-CARBON COMPOSITES CONSUMPTION BY INDUSTRY TYPE, 2007 VS. 2013 (%)

TABLE 29 U.S. MARKET FOR CARBON-CARBON COMPOSITES BY INDUSTRY, THROUGH 2013 ($ MILLIONS)

FIGURE 14 U.S. CARBON-CARBON COMPOSITES MARKET SHARES BY INDUSTRY, 2007 VS. 2013 (%)

FIGURE 14 (CONTINUED)

MARKETS FOR ADVANCED STRUCTURAL CARBONS

TABLE 30 U.S. CONSUMPTION OF STRUCTURAL CARBONS BY TYPE OF MATERIAL, THROUGH 2013 (THOUSAND LBS.)

FIGURE 15 STRUCTURAL CARBON PRODUCT SHARES OF TOTAL U.S. STRUCTURAL CARBON CONSUMPTION, 2007 VS. 2013 (%)

TABLE 31 U.S. MARKET FOR STRUCTURAL CARBON MATERIALS BY TYPE OF MATERIAL, THROUGH 2013 ($ MILLIONS)

FIGURE 16 STRUCTURAL CARBON PRODUCT SHARES OF TOTAL U.S. STRUCTURAL CARBON CONSUMPTION, 2007 VS. 2013 (%)

CHAPTER SIX: INDUSTRY STRUCTURE AND MARKET DRIVERS

MARKETS FOR STRUCTURAL CARBON MATERIALS

MANUFACTURERS OF STRUCTURAL CARBONS

Carbon Fibers

FIGURE 17 LEADING U.S. CARBON FIBER SUPPLIERS’ SHARE OF TOTAL U.S. CONSUMPTION, 2007 (%)

Carbon Foams

FIGURE 18 LEADING U.S. CARBON FOAM SUPPLIERS’ SHARE OF TOTAL U.S. CONSUMPTION, 2007 (%)

Structural Graphite

FIGURE 19 LEADING U.S. STRUCTURAL GRAPHITE SUPPLIERS’ SHARE OF TOTAL U.S. CONSUMPTION, 2007 (%)

Carbon-Carbon Composites

FIGURE 20 LEADING U.S. CARBON-CARBON COMPOSITE SUPPLIERS’ SHARE OF TOTAL U.S. CONSUMPTION, 2007 (%)

SWOT ANALYSIS OF STRUCTURAL CARBONS INDUSTRY

Strengths

Weaknesses

Opportunities

Threats

MARKET DRIVERS

ECONOMIC FACTORS

LEGAL AND REGULATORY FACTORS

Price-Fixing in the Carbon Fibers and Composites Industry

Price-Fixing in the Graphite Industry

INDUSTRY FACTORS

Capacity Trends

Price Trends

New Technologies and New Entrants to the Business

Influence and Leverage

Buyers’ Influence and Leverage

Suppliers’ Influence and Leverage

Substitute Products

COMPETITIVE STRATEGIES IN THE STRUCTURAL CARBONS INDUSTRY

NEW BUSINESS DEVELOPMENT

COMPETITIVE PRICING

VERTICAL INTEGRATION

GLOBAL STRATEGIC ALLIANCES

Mitsubishi Rayon’s Expansion Plans and Alliance with SGL

Zoltek and BMW Automotive Group

Zoltek and TechFab

GrafTech and Ballard Power Systems

Zoltek and Ballard Power Systems

Zoltek and Leggett & Pratt

Hexcel and Airbus Industries

Hexcel and Boeing

CHAPTER SEVEN: INTELLECTUAL PROPERTY AND TECHNOLOGY TRENDS ANALYSIS

INTELLECTUAL PROPERTY ANALYSIS

TABLE 32 PATENTS ISSUED TO LEADING MANUFACTURES IN STRUCTURAL CARBON MATERIALS TECHNOLOGY, 1996-2008

TECHNOLOGY DEVELOPMENT TRENDS

TECHNOLOGY DEVELOPMENT … (CONTINUED)

CHAPTER EIGHT: INTERNATIONAL ASPECTS OF STRUCTURAL CARBONS BUSINESS

TABLE 33 GLOBAL MARKET FOR STRUCTURAL CARBON BY TYPE OF MATERIAL, 2007 ($ MILLIONS)

FIGURE 21 COMPARISON OF ADVANCED STRUCTURAL CARBONS CONSUMPTION IN WORLD REGIONS BY TYPE OF MATERIAL, 2006 (%)

TABLE 34 GLOBAL STRUCTURAL CARBONS MARKET GROWTH BY REGION, THROUGH 2013 ($ MILLIONS)

CHAPTER NINE: PROFILE OF MANUFACTURERS

U.S. MANUFACTURERS

AAR COMPOSITES

ADVANCED CARBON TECHNOLOGIES, INC.

ADVANCED COMPOSITES, INC

AEROSPACE COMPOSITE PRODUCTS CO.

ALBANY ENGINEERED COMPOSITES

APPLIED SCIENCES, INC.

ASBURY CARBONS

GOODRICH CORP

BOEING CO.

BTG COMPOSITES, INC.

CARBON-CARBON ADVANCED TECHNOLOGIES, INC

CARBON COMPOSITES CO

CYTEC CORP

FIBER INNOVATIONS, INC.

FIBER MATERIALS, INC.

FIBERSPAR CORP.

FORESEE ORTHOPEDIC PRODUCTS

FRONTIERS MATERIALS CORP.

GRAFIL, INC

GRAPHITE METALLIZING CORP.

GRAPHITE SALES, INC.

GRAFTECH INTERNATIONAL, LTD.

GRAPHTEK, LLC

HELWIG CARBON PRODUCTS, INC.

HEXCEL CORP

HITCO CARBON COMPOSITES, INC

HONEYWELL INTERNATIONAL, INC.

KIRKWOOD INDUSTRIES, INC

MER CORP

MINERALS TECHNOLOGY, INC.

MORGAN ADVANCED MATERIALS AND TECHNOLOGY

POCO GRAPHITE, INC

POLESE CO.

ROC CARBON CO.

SCHUNK GRAPHITE TECHNOLOGY, LLC

SGL CARBON GROUP

SHAMOKIN FILLER CO.

SIOUX MANUFACTURING CORP.

SPAULDING COMPOSITES CO.

SPENCER COMPOSITE CORP

ST. MARYS CARBON CO.

SUPERIOR GRAPHITE CO.

TECHFAB LLC

TOHO TENAX AMERICA, INC.

TORAY CARBON FIBERS AMERICA, INC.

TOUCHSTONE RESEARCH LABORATORY, LTD.

TPI COMPOSITES, INC

ULTRAMET, INC

V2 COMPOSITE, INC

YLA, INC.

ZOLTEK COMPANIES, INC

INTERNATIONAL MANUFACTURERS

ANAORI CARBON CO., LTD

ANSHAN EAST ASIAN CARBON FIBERS CO., LTD.

ATLAS COMPOSITES, LTD.

BRANWELL GRAPHITE, LTD

C2 COMPOSITES

CARBONE LORRAINE WORLDWIDE

EDERENA CONCEPT

GRUPO ANTOLIN INGENIERIA S.A

MITSUBISHI CHEMICAL CORP

MITSUBISHI RAYON CO., LTD.

NIPPON GRAPHITE FIBER CORP

NIPPON SHEET GLASS CO., LTD.

TAIWAN CARBON TECHNOLOGY CO., LTD

TOHO TENAX CO., LTD

TORAY INDUSTRIES, INC.

LIST OF TABLES

SUMMARY TABLE U.S. MARKET FOR STRUCTURAL CARBON

MATERIALS BY USER SEGMENT, THROUGH 2013 ($ MILLIONS)

TABLE 1 DEPENDENCE OF CARBON FIBER PROPERTIES ON RAW

MATERIALS

TABLE 2 STRUCTURAL PROPERTY RELATIONSHIPS FOR CARBON

FIBERS DERIVED FROM VARIOUS PRECURSORS

TABLE 3 TYPICAL MECHANICAL PROPERTIES OF CARBON-FIBERREINFORCED

POLYMER COMPOSITES

TABLE 4 TYPICAL MECHANICAL PROPERTIES OF CARBON-FIBERREINFORCED

METAL COMPOSITES

TABLE 5 PROPERTIES OF PITCH RAW MATERIALS USED FOR

CARBON FOAM MANUFACTURING

TABLE 6 PHYSICAL PROPERTIES OF PITCH-DERIVED CARBON

FOAMS

TABLE 7 PHYSICAL PROPERTIES OF GRAPHITE MATERIALS

TABLE 8 ADVANTAGES AND DISADVANTAGES OF CARBON-CARBON

COMPOSITES

TABLE 9 COMPARISON OF PHYSICAL PROPERTIES OF

GRAPHITE AND CARBON-CARBON COMPOSITES

TABLE 10 COMPARISON OF CARBON-CARBON COMPOSITES

PROPERTIES MANUFACTURED BY VARIOUS PROCESSING ROUTES

TABLE 11 PROPERTIES AND APPLICATIONS OF CARBON FIBERS

TABLE 12 U.S. SPACE VEHICLE MARKET, THROUGH 2013 ($

BILLIONS)

TABLE 13 SALES OF U.S. MILITARY AIRCRAFT, THROUGH 2013 ($

BILLIONS)

TABLE 14 U.S. MISSILE SHIPMENTS, THROUGH- 2013 ($ BILLIONS)

TABLE 15 DELIVERIES OF LARGE U.S.-MADE COMMERCIAL

AIRCRAFT BY TYPE, THROUGH 2013 (UNITS)

TABLE 16 CONSUMPTION OF CARBON-FIBER-REINFORCED

COMPOSITES IN U.S.-MADE COMMERCIAL AIRLINERS

TABLE 17 TRENDS IN U.S. WIND POWER CAPACITY, THROUGH 2013

(MW)

TABLE 18 U.S. MARKET FOR WIND TURBINE ROTOR BLADES,

THROUGH 2013 ($ MILLIONS)

TABLE 19 U.S. MARKET FOR CARBON FIBER COMPOSITE GOLF

CLUBS, THROUGH 2013 ($ MILLIONS)

TABLE 20 U.S. SHIPMENTS OF CARBON FIBER FISHING RODS,

THROUGH-2013 ($ MILLIONS)

TABLE 21 U.S. CONSUMPTION OF CARBON FIBERS, THROUGH 2013

(THOUSAND LBS.)

TABLE 22 U.S. MARKET FOR CARBON FIBERS, THROUGH 2013 ($

MILLIONS)

TABLE 23 U.S. CONSUMPTION OF CARBON FOAM, THROUGH 2013

(THOUSAND LBS.)

TABLE 24 U.S. CARBON FOAM MARKET GROWTH BY INDUSTRY,

THROUGH 2013 ($ MILLIONS)

TABLE 25 TYPICAL APPLICATIONS FOR GRAPHITE BEARINGS

TABLE 26 U.S. CONSUMPTION OF STRUCTURAL GRAPHITE BY

INDUSTRY, THROUGH 2013 (THOUSAND LBS.)

TABLE 27 U.S. MARKET FOR STRUCTURAL GRAPHITE BY INDUSTRY

SEGMENT, THROUGH 2013 ($ MILLIONS)

TABLE 28 U.S. CONSUMPTION OF CARBON-CARBON COMPOSITES

BY INDUSTRY, THROUGH 2013 (THOUSAND LBS.)

TABLE 29 U.S. MARKET FOR CARBON-CARBON COMPOSITES BY

INDUSTRY, THROUGH 2013 ($ MILLIONS)

TABLE 30 U.S. CONSUMPTION OF STRUCTURAL CARBONS BY TYPE

OF MATERIAL, THROUGH 2013 (THOUSAND LBS.)

TABLE 31 U.S. MARKET FOR STRUCTURAL CARBON MATERIALS BY

TYPE OF MATERIAL, THROUGH 2013 ($ MILLIONS)

TABLE 32 PATENTS ISSUED TO LEADING MANUFACTURES IN

STRUCTURAL CARBON MATERIALS TECHNOLOGY, 1996-2008

TABLE 33 GLOBAL MARKET FOR STRUCTURAL CARBON BY TYPE OF

MATERIAL, 2007 ($ MILLIONS)

TABLE 34 GLOBAL STRUCTURAL CARBONS MARKET GROWTH BY

REGION, THROUGH 2013 ($ MILLIONS)

LIST OF FIGURES

SUMMARY FIGURE U.S. MARKET FOR STRUCTURAL CARBON

MATERIALS BY USER SEGMENT, 2007-2013 ($ MILLIONS)

FIGURE 1 UNITED STATES MARKET FOR ADVANCED STRUCTURAL

CARBONS BY TYPE, 2007 (TOTAL = $1.7 BILLION)

FIGURE 2 PROJECTED GROWTH RATE IN U.S. STRUCTURAL

CARBONS MARKET, 2008-2013 (CAGR%)

FIGURE 3 GLOBAL ADVANCED STRUCTURAL CARBONS MARKET BY

TYPE, 2007 (TOTAL = $4.3 BILLION)

FIGURE 4 GLOBAL STRUCTURAL CARBONS CONSUMPTION BY

WORLD REGION, 2007 (%)

FIGURE 5 TYPES OF STRUCTURAL CARBON PRODUCTS

FIGURE 6 SCHEMATIC OF MANUFACTURING PROCESS

FOR SYNTHETIC GRAPHITE

FIGURE 7 CRYSTALLINE STRUCTURE OF GRAPHITE

FIGURE 8 REPRESENTATION OF CARBON-CARBON COMPOSITE

MANUFACTURING PROCESS

FIGURE 9 U.S. CARBON FIBER CONSUMPTION BY INDUSTRY

SEGMENT, 2008 VS. 2013 (%)

FIGURE 10 U.S. CARBON FIBER MARKET BY INDUSTRY, 2008 VS.2013

(% OF TOTAL MARKET VALUE)

FIGURE 11 U.S. CONSUMPTION OF CARBON FOAM BY INDUSTRY

SECTOR, 2008 VS. 2013 (% TOTAL CONSUMPTION)

FIGURE 12 U.S. CONSUMPTION OF STRUCTURAL GRAPHITE BY

INDUSTRY SEGMENT, 2007 VS. 2013 (% OF TOTAL LBS.

CONSUMED)

FIGURE 13 U.S. CARBON-CARBON COMPOSITES CONSUMPTION BY

INDUSTRY TYPE, 2007 VS. 2013 (%)

FIGURE 14 U.S. CARBON-CARBON COMPOSITES MARKET SHARES

BY INDUSTRY, 2007 VS. 2013 (%)

FIGURE 15 STRUCTURAL CARBON PRODUCT SHARES OF TOTAL U.S.

STRUCTURAL CARBON CONSUMPTION, 2007 VS. 2013 (%)

FIGURE 16 STRUCTURAL CARBON PRODUCT SHARES OF TOTAL U.S.

STRUCTURAL CARBON CONSUMPTION, 2007 VS. 2013 (%)

FIGURE 17 LEADING U.S. CARBON FIBER SUPPLIERS’ SHARE OF

TOTAL U.S. CONSUMPTION, 2007 (%)

FIGURE 18 LEADING U.S. CARBON FOAM SUPPLIERS’ SHARE OF

TOTAL U.S. CONSUMPTION, 2007 (%)

FIGURE 19 LEADING U.S. STRUCTURAL GRAPHITE SUPPLIERS’

SHARE OF TOTAL U.S. CONSUMPTION, 2007 (%)

FIGURE 20 LEADING U.S. CARBON-CARBON COMPOSITE SUPPLIERS’

SHARE OF TOTAL U.S. CONSUMPTION, 2007 (%)

FIGURE 21 COMPARISON OF ADVANCED STRUCTURAL CARBONS

CONSUMPTION IN WORLD REGIONS BY TYPE OF MATERIAL, 2006 (%)