新材料专题2：碳/碳复材专题及其他隔热材料的比较分析

Investment Rating - The report rates the industry as "Outperform" [1] Core Insights - Carbon/carbon composites are the only materials that maintain structural strength above 3000℃, making them essential for aerospace applications [10][42] - The unique characteristics of carbon/carbon composites include high-temperature resistance and improved strength with increasing temperature, which is critical for military applications such as missile nose cones and engine components [10][12] - The competitive landscape for carbon/carbon composites is concentrated among private enterprises in the upstream sector, while the downstream applications are more fragmented, primarily involving state-owned enterprises [72][97] Summary by Sections Development History of Carbon-Based Composites - The evolution of carbon-based composites in flight vehicle thermal protection systems includes four stages: oxidation-resistant carbon-based composites, oxidation-resistant carbon/carbon composites, coated modified carbon/carbon composites, and heat-reducing carbon-based composites [7][41] Typical Application Scenarios - Carbon/carbon composites are widely used in military applications, including missile nose cones, engine nozzle linings, and aircraft brake pads, where high working temperatures and short operational times are common [10][23][25] - The performance of carbon/carbon brake pads is significantly superior to that of metal materials, with a lifespan increase of 5 to 7 times compared to powder metallurgy brake pads [23][47] Comparison with Other Materials - Compared to quartz and ceramic-based materials, carbon/carbon composites are more suitable for high-temperature applications, while quartz fibers are better suited for radar domes due to their lower dielectric constant and better wave transparency [62][80] - Ceramic matrix composites outperform nickel-based superalloys in high-temperature stability, making them suitable for engine components that operate above 1000℃ [64][91] Industry Chain and Key Companies - The carbon/carbon composite industry chain is characterized by a concentrated upstream sector focused on raw materials, while the downstream applications are more dispersed among various state-owned enterprises [72][97] - Key companies in the military carbon/carbon composite industry include Jiangsu Tianniao, which has a favorable competitive position in the production of special preforms [72][97]