Palm Beach, FL – January 14, 2025 – The global carbon fiber market has been growing substantially in recent years and is poised to continue in the years to come. The carbon fiber market is driven by the material’s advantageous properties and strong demand across diverse sectors. One significant driver is the growing need for lightweight and high-strength materials in the automotive and aerospace industries. Carbon fiber is renowned for its high strength-to-weight ratio, which makes it ideal for manufacturing lighter vehicles and aircraft. This results in increased fuel efficiency and reduced emissions, aligning with global efforts to meet sustainability goals and reduce environmental impact. In aerospace, the use of carbon fiber components contributes to reduced fuel consumption and enhanced aircraft performance, making it highly valued for modern aircraft and spacecraft design. A report from Grand View Research said that the global carbon fiber market size was estimated at USD $5.75 billion in 2024 and is projected to grow at a CAGR of 10.9% from 2025 to 2030. It continued: “This growth can be attributed to the rising use of carbon fiber in wind energy applications, driven by the global shift toward renewable energy. As countries aim to reduce their dependence on fossil fuels, the demand for wind turbines is increasing, and carbon fiber’s strength and durability make it ideal for turbine blades. Carbon fiber allows for longer and more efficient blades that capture more wind energy, thus improving the efficiency of wind farms.” Active companies in news today include: KULR Technology Group, Inc. (NYSE: KULR), NuScale Power Corporation (NYSE: SMR), Nuclear Energy Inc. (NASDAQ: NNE), Oklo Inc. (NYSE: OKLO), NVIDIA Corporation (NASDAQ: NVDA).
Grand View Research continued: “The electronics and sports equipment sectors are also significant contributors to carbon fiber demand. Electronics manufacturers are incorporating carbon fiber into devices to achieve durability while keeping devices lightweight, appealing to consumer preferences for portable and robust products. Similarly, in sports, carbon fiber is widely used in equipment like bicycles, tennis rackets, and golf clubs due to its superior strength and flexibility, which enhances performance. Lastly, government incentives and subsidies supporting research and development in advanced materials are fueling innovations in carbon fiber production, helping reduce costs, and improving manufacturing efficiencies. With technological advancements, carbon fiber has become more accessible and affordable, which further drives its adoption across multiple industries.” An additional report from MarketsandMarkets reported “the global carbon fiber market was valued at USD 7.1 billion in 2023 and is projected to reach USD 23.2 billion by 2033, growing at 12.6% CAGR from 2023 to 2033. Carbon fibers offer various advantages such as high tensile strength, low weight, high stiffness, high-temperature tolerance, and low thermal expansion. These properties are leading to the high demand for carbon fiber in aerospace, civil engineering, military, and motorsports, along with other competitive sports. However, it is relatively expensive compared with other fibers such as glass or plastic fibers.”
KULR Technology Group, Inc. (NYSE American: KULR) Grants Carbon Fiber Cathode License for Nuclear Reactor Application – KULR Technology Group, Inc. (the “Company” or “KULR”) ($KULR), a leader in advanced energy management platforms, today announced the signing of a multi-million-dollar licensing agreement with a new technology partner (“Licensee”) to enable advanced carbon fiber cathode applications for nuclear reactor systems in Japan.
Applications for Carbon Fiber Cathode Technology
The licensed carbon fiber cathode solutions are specifically engineered for critical use in nuclear reactors, offering enhanced safety, superior heat dissipation, and structural integrity. The carbon fiber-based thermal interface materials provide high-performance solutions for demanding nuclear energy applications.
The license will be applied to laser-based nuclear fusion systems as well as small modular reactors (SMR’s) – a rapidly emerging technology with the potential to deliver cost-effective and reliable fusion energy. Laser-based fusion employs high-powered lasers to initiate fusion reactions, representing a groundbreaking alternative to traditional methods.
Strategic Market Opportunities
This licensing agreement underscores KULR’s leadership in carbon fiber-based energy solutions and opens new opportunities for advancements in nuclear technology within Japan and the broader Asian market. By leveraging its innovative carbon fiber cathode technology, KULR aims to contribute to the development of fusion technology to meet the world’s increasing energy demands while addressing climate change.
According to Goldman Sachs, data center energy demand – currently representing 1-2% of global demand – is projected to double by 2030. This growth is driven by hyperscalers increasingly focusing on nuclear energy to meet the rising demands of AI-powered applications in data centers. With global electricity use projected to rise by as much as 75% by 2050 (U.S. Department of Energy), KULR’s technology is poised to play a pivotal role in addressing these challenges.
“This licensing agreement represents a significant milestone for KULR as we expand the applications of our carbon fiber technologies into the nuclear energy sector,” said Michael Mo, CEO of KULR Technology Group. “We are proud to partner with an innovative Licensee to bring our cutting-edge cathode and thermal interface materials to the forefront of nuclear reactor technology.” CONTINUED… Read this entire press release and more news for KULR at: https://www.financialnewsmedia.com/news-kulr/
In other developments in the markets of note:
NuScale Power Corporation (NYSE: SMR), the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, recently announced the appointment of Diana J. Walters to its Board of Directors, effective December 20, 2024. With the appointment of Walters, the Board comprises 10 directors, six of whom are independent.
Walters brings more than 35 years of leadership experience in the natural resources sector. She has held prominent roles, including serving as President of Liberty Metals and Mining LLC, CFO of Tatham Offshore, Inc., as well as numerous roles in the investment banking, capital markets, and advisory sectors. Walters currently serves on the boards of Atmos Energy, Trilogy Metals Inc., and Platinum Group Metals Limited, where she is Chair. She also serves as a Senior Advisor at Independence Point Advisors.
“We are thrilled to welcome Diana Walters to NuScale’s Board of Directors,” said John Hopkins, President and Chief Executive Officer of NuScale Power. “Diana’s financial acumen and natural resources experience will support continued strong stewardship of NuScale as we work towards advancing the commercial deployment of NuScale’s NRC-approved SMR technology.”
Nuclear Energy Inc. (NASDAQ: NNE), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, announced that it has closed its previously announced acquisition of select nuclear energy technology assets, including the patented Micro Modular Reactor (MMR®) Energy System and Pylon Transportable Reactor Platform, from Ultra Safe Nuclear Corporation and certain of its subsidiaries (collectively, “USNC”).
The acquisition of these assets and related intellectual property and contracts significantly expands NANO Nuclear’s patent portfolio and adds to its existing pipeline of cutting edge small nuclear reactor technologies in development. The assets include 38 issued and pending or published patents, including six issued and four pending or published U.S. utility patents and three issued and four pending Canadian utility patents, as well as associated trademarks.
Oklo Inc. (NYSE: OKLO), an advanced nuclear technology company, and Switch, a premier provider of AI, cloud and enterprise data centers, have signed a non-binding Master Power Agreement (“Master Agreement”) to deploy 12 gigawatts of Oklo Aurora powerhouse projects through 2044. This is one of the largest corporate clean power agreements ever signed. The Master Agreement establishes a framework for collaboration, with the expectation that individual binding agreements will be finalized as project milestones are reached.
Under the Master Agreement, Oklo will develop, construct, and operate powerhouses to provide power to Switch across the United States through a series of power purchase agreements. This enduring relationship over several decades will help accelerate Oklo’s early powerhouse deployments and also position the Company to scale in response to a growing demand pipeline. This Master Agreement enables Oklo to leverage Switch’s best-in-class execution while developing the financial and infrastructure model for scaling advanced nuclear.
NVIDIA Corporation (NASDAQ: NVDA) involvement with Carbon Capture: As the world faces the urgent need to combat climate change, carbon capture and storage (CCS) has emerged as a crucial technology for achieving net-zero emissions. The CCS technology—which involves capturing carbon dioxide (CO2), either from industrial emissions or through direct air capture (DAC), and securely storing it in the subsurface—can drive much-needed decarbonization strategies and help achieve global climate targets.
The success of CCS technology depends on the careful selection of storage sites and injection schemes. Accurate predictions of CO2 plume migration and pressure buildup over extended periods, often spanning hundreds of years, are essential for ensuring the safety and efficacy of storage sites. Finding the optimal setup requires assessing tens of thousands of configurations under varying subsurface conditions, well locations, and injection rates. However, conventional flow simulators, which are typically used for these predictions, are computationally intensive and thus limit the high-throughput screening of potential sites and injection schemes.
To address these challenges, Shell, in collaboration with NVIDIA, is leveraging cutting-edge technology through NVIDIA Modulus to enhance the efficiency and accuracy of CCS site screening processes.
About FN Media Group:
At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases
Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia
Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup
Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated forty six hundred dollars for news coverage of the current press releases issued by KULR Technology Group, Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:
Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757
SOURCE: FN Media Group
The post Carbon Fiber Market Projected to Grow Significantly as Increasing Demand for Growing Number of Industries Rises appeared first on Financial News Media.