The development of a sustainable, cheap, and efficient process to directly produce graphene and carbon fibers from heavy oil. The carbon fiber market size is USD 6.5 billion (2022) and it is projected to be USD 21.7 billion (2032).
Growth is attributed to the increased adoption of carbon fibers in the aerospace and automotive industries. Approximately 90 % of current carbon fiber is polyacrylonitrile (PAN)-based and expensive.
It can be used in the application of a controlled autoxidation process for the conversion of vacuum gas oil (VGO) to carbon materials. Generation of less CO2 emissions with no solvent requirement. Expected carbon fiber price reduction: ~ $ 35/ kg to $ 10/kg.
This approach avoids using expensive/toxic chemicals, which saves processing cost/time and causes less environmental damage and presents an opportunity to enhance the value of residual petroleum feedstocks.
Sustainable Development Goals: