The carbon fiber market is estimated at USD 4.82 billion in 2025 and is projected to reach USD 6.82 billion by 2030, at a CAGR of 7.2% from 2025 to 2030. Pitch-based carbon fibers, derived from petroleum-based pitch, offer superior mechanical properties and high thermal stability. They possess excellent tensile strength, exceeding 5 GPa, which is comparable to steel.
Moreover, their specific stiffness is twice that of aluminum, making them ideal for lightweight applications. Pitch carbon fibers exhibit exceptional resistance to corrosion, chemicals, and extreme temperatures, enabling their utilization in demanding environments. Their high thermal conductivity ensures efficient heat dissipation, making them suitable for heat-sensitive applications. Additionally, pitch-based carbon fiber offers enhanced fatigue resistance and can be manufactured with greater precision in certain applications compared to PAN-based fibers.
The scope of the report includes detailed information about the major factors influencing the growth of the carbon fiber market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted in order to provide insights into their business overview, solutions and services, key strategies, and recent developments in the carbon fiber market are all covered. This report includes a competitive analysis of upcoming startups in the carbon fiber market ecosystem.
Moreover, their specific stiffness is twice that of aluminum, making them ideal for lightweight applications. Pitch carbon fibers exhibit exceptional resistance to corrosion, chemicals, and extreme temperatures, enabling their utilization in demanding environments. Their high thermal conductivity ensures efficient heat dissipation, making them suitable for heat-sensitive applications. Additionally, pitch-based carbon fiber offers enhanced fatigue resistance and can be manufactured with greater precision in certain applications compared to PAN-based fibers.
In terms of value, virgin carbon fiber accounted for the largest share of the overall carbon fiber market.
The virgin fiber segment accounted for the largest market share due to its exceptional properties, including its lightweight structure, stiffness, and chemical resistance, which makes it indispensable in end-use industries like aerospace & defense, automotive, wind energy, and sporting goods, among others. These industries depend on lightweight materials for improved fuel performance in aircraft and vehicles. The use of virgin carbon fiber is favored due to its established manufacturing processes and consistent quality, which are critical for high-performance applications. While recycled carbon fiber is gaining traction as a sustainable alternative, virgin carbon fiber remains dominant because of its outstanding mechanical properties and versatile usage in structural components.In terms of value, high modulus accounted for the third-largest share of the overall carbon fiber market.
High modulus carbon fiber accounted for the third-largest market share in the overall carbon fiber market. It is a specialized type of carbon fiber that has been engineered for applications where stiffness, rather than strength, is the primary concern. High modulus carbon fibers are characterized by a high carbon content of over 98%, which contributes to their exceptional rigidity and resistance to deformation. The key property of high modulus carbon fiber is its modulus of elasticity, which typically exceeds 370 GPa, making it significantly stiffer than standard carbon fibers.In terms of value, long fiber accounted for the third-largest share of the overall carbon fiber market.
The long fiber segment accounted for the third-largest share of the overall carbon fiber market. Long carbon fiber, as its name suggests, consists of fibers longer than 1mm and is often used as a reinforcement material in high-performance composites. These fibers offer superior mechanical properties compared to short carbon fibers, including higher tensile strength, improved fatigue resistance, and enhanced stiffness. These qualities make them ideal for applications involving continuous stress, such as wind turbine blades, aircraft components, and Formula 1 cars.In terms of value, the non-composites segment accounted for the second-largest share of the carbon fiber market.
The non-composites segment accounted for the second-largest share of the carbon fiber market. As carbon fiber is renowned for its exceptional properties, such as high strength-to-weight ratio, stiffness, and resistance to corrosion and fatigue for composite applications, there is a growing demand for its application in non-composite forms as well. Carbon fiber exhibits excellent thermal and electrical conductivity, which makes it suitable for applications in electronics, such as heat sinks, electromagnetic shielding, and even in the development of advanced batteries and fuel cells. It is also gaining popularity in the medical field due to its biocompatibility and radiolucency, making it ideal for surgical instruments, prosthetics, and imaging equipment.The pressure vessels industry is projected to be the fastest-growing end-use industry during the forecast period.
The pressure vessels industry is expected to register the fastest growth in the carbon fiber market during the forecast period. Pressure vessels are manufactured by filament winding tows of high-strength carbon fiber over a mandrel, which serves as a liner in the finished structure and ensures gas tightness. The pressure vessels made of carbon fiber tow prepreg are 75% lighter than steel or aluminum pressure vessels, making them suitable for a wide range of applications. Additionally, carbon is relatively cost-effective compared to other materials, providing a balance of performance and affordability. Its ability to be easily fabricated and welded further contributes to its widespread use in pressure vessel construction.The Asia Pacific region is projected to register the highest growth rate in the carbon fiber market during the forecast period.
The Asia Pacific is projected to be the fastest-growing region in the carbon fiber market during the forecast period, supported by rapid industrialization, increased demand for lightweight materials in the automotive, aerospace, and manufacturing industries, and a strong focus on technological advancements. In particular, countries like Japan, China, and South Korea are experiencing substantial investments in the carbon fiber market in advanced manufacturing technologies and the development of carbon fiber composites for applications in aerospace, automotive, and infrastructure projects. These countries are known for their cutting-edge technology and innovation, with major companies like Toray Industries, Inc. and Mitsubishi Chemical Group Corporation pushing advancements in carbon fiber production for high-performance applications.This study has been validated through primary interviews with industry experts globally. The primary sources have been divided into the following three categories:
- By Company Type: Tier 1 - 40%, Tier 2 - 33%, and Tier 3 - 27%
- By Designation: C-level - 50%, Director-level - 30%, and Managers - 20%
- By Region: North America - 15%, Europe - 50%, Asia Pacific - 20%, the Middle East & Africa - 5%, and Latin America - 10%
The report provides a comprehensive analysis of the following companies:
Prominent companies in this market include Toray Industries, Inc. (Japan), DowAksa (Turkey), Mitsubishi Chemical Group Corporation (Japan), Syensqo (Belgium), Teijin Limited (Japan), SGL Carbon (Germany), Hexcel Corporation (US), HS Hyosung Advanced Materials (South Korea), Zhongfu Shenying Carbon Fiber Co., Ltd. (China), Kureha Corporation (Japan), Osaka Gas Chemicals Co., Ltd., (Japan), UMATEX (Russia), Jilin Chemical Fiber Group Co., Ltd. (China), Jiangsu Hengshen Co., Ltd. (China), and China National Bluestar (Group) Co., Ltd. (China).Research coverage
This research report categorizes the carbon fiber market by raw material type (pan and pitch), fiber type (virgin and recycled), modulus (standard, intermediate, and high), product type (continuous, long, and short), application (composites and non-composites), end-use industry (aerospace & defense, automotive, wind energy, pipe, pressure vessels, sporting goods, construction & infrastructure, medical & healthcare, and marine), and region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America).The scope of the report includes detailed information about the major factors influencing the growth of the carbon fiber market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted in order to provide insights into their business overview, solutions and services, key strategies, and recent developments in the carbon fiber market are all covered. This report includes a competitive analysis of upcoming startups in the carbon fiber market ecosystem.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall carbon fiber market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.The report provides insights on the following pointers:
- Analysis of key drivers (growth in manufacturing of satellite parts, high demand from aerospace & defense industry, rising adoption in automobile applications due to stringent eco-friendly regulations, increased use in wind energy industry, and rising demand for regular tow carbon in pressure vessels), restraints (high production cost, lack of standardization in manufacturing technologies, and damage repair and compatibility issues), opportunities (increased investments in the development of low-cost coal-based carbon fibers, potential opportunities in new applications, increasing demand for fuel cell electric vehicles (FCEVs), increasing use in 3D printing, advancements in carbon fiber recycling technologies), and challenges (production of low-cost carbon fiber, capital-intensive production and complex manufacturing processes, and recyclability issues) influencing the growth of the carbon fiber market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and service launches in the carbon fiber market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the carbon fiber market across varied regions.
- Market Diversification: Exhaustive information about services, untapped geographies, recent developments, and investments in the carbon fiber market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Toray Industries, Inc. (Japan), DowAksa (Turkey), Mitsubishi Chemical Group Corporation (Japan), Syensqo (Belgium), Teijin Limited (Japan), SGL Carbon (Germany), Hexcel Corporation (US), HS Hyosung Advanced Materials (South Korea), Zhongfu Shenying Carbon Fiber Co., Ltd. (China), Kureha Corporation (Japan), Osaka Gas Chemicals Co., Ltd., (Japan), UMATEX (Russia), Jilin Chemical Fiber Group Co., Ltd. (China), Jiangsu Hengshen Co., Ltd. (China), and China National Bluestar (Group) Co., Ltd. (China) in the carbon fiber market.
Table of Contents
1 Introduction
2 Research Methodology
4 Premium Insights
5 Market Overview
6 Carbon Fiber Market, By Raw Material
7 Carbon Fiber Market, By Fiber Type
8 Carbon Fiber Market, By Modulus
9 Carbon Fiber Market, By Product Type
10 Carbon Fiber Market, By Application
11 Carbon Fiber Market, By End-Use Industry
12 Carbon Fiber Market, By Region
13 Competitive Landscape
14 Company Profiles
15 Appendix
List of Tables
List of Figures
Companies Mentioned
- TORAY INDUSTRIES, INC.
- DOWAKSA
- MITSUBISHI CHEMICAL GROUP CORPORATION
- SYENSQO
- TEIJIN LIMITED
- SGL CARBON
- HEXCEL CORPORATION
- HS HYOSUNG ADVANCED MATERIALS
- ZHONGFU SHENYING CARBON FIBER CO., LTD.
- KUREHA CORPORATION
- OSAKA GAS CHEMICALS CO., LTD.
- UMATEX
- JILIN CHEMICAL FIBER GROUP CO., LTD.
- JIANGSU HENGSHEN CO., LTD.
- CHINA NATIONAL BLUESTAR (GROUP) CO., LTD.
- CHINA WEIHAI GUANGWEI COMPOSITES CO., LTD.
- CHANGSHENG (LANGFANG) TECHNOLOGY CO., LTD.
- JILIN JIYAN HIGH-TECH FIBER CO., LTD.
- JILIN SHENZHOU CARBON FIBER CO., LTD.
- ALFA CHEMISTRY
- BCIRCULAR
- VARTEGA INC.
- FLINK INTERNATIONAL CO., LTD.
- CHINA COMPOSITES GROUP CORPORATION LTD.
- FORMOSA PLASTICS CORPORATION
- NIPPON GRAPHITE FIBER CO., LTD.
- NEWTECH GROUP CO., LTD.
- ACE C&TECH CO., LTD.
- PROCOTEX
- CARBON CONVERSIONS
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 327 |
| Published | April 2025 |
| Forecast Period | 2025 - 2030 |
| Estimated Market Value in 2025 | 4.82 billion |
| Forecasted Market Value by 2030 | 6.82 billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
