Carbon Fiber Market Industry Trends and Global Forecasts to 2035: Distribution by Type of Raw Material, Type of Fiber, Type of Product, Type of Modules / Raw Material, Application, End-User and Geography

The global carbon fiber market size is estimated to grow from USD 5.48 billion in 2025, to USD 17.08 billion by 2035, at a CAGR of 10.89% during the forecast period, till 2035.

Carbon Fiber Market: Growth and Trends

Carbon fibers are tiny strands, ranging from 5 to 10 micrometers in thickness, and are primarily made of carbon atoms. Among the three main types of high-performance fibers globally, carbon fiber boasts the greatest strength and specific modulus. These characteristics are contributing to the increasing demand for carbon fiber in various sectors, such as aerospace and defense, automotive, construction, sporting goods, and healthcare.

It is important to note that its cost is higher than that of other metals. However, recent developments in composites are making carbon composites more competitive and cost-efficient. Additionally, the ongoing advancements in fiber reinforcements, carbon fiber resin systems, and manufacturing techniques are further enhancing the uptake of carbon composites across different industries.

The expansion of the carbon fiber sector has been further propelled by the rising need for lightweight, high-performance materials in various fields to improve fuel efficiency and minimize emissions. Additionally, considering the growing preference for lighter, more fuel-efficient vehicles and aircraft, the carbon fiber market is expected to experience significant growth during the forecast period.

Report Scope:

Type of Raw Material

• PAN-based Carbon Fiber
• Pitch-based Carbon Fiber

Type of Fiber  

• Virgin Carbon Fiber
• Recycled Carbon Fiber

Type of Product

• Continuous Carbon Fiber
• Long Carbon Fiber
• Short Carbon Fiber

Type of Modules

• Standard
• Intermediate
• High

Application

• Composite
• Non-Composite

End User

• Aerospace and Defense Industry
• Automative Industry
• Aviation
• Construction and Infrastructure
• Marine Industry
• Medical and Health Care Industry
• Molding and Compound Industry
• Pressure Vessels Industry
• Sporting Goods Industry
• Wind Energy / Alternative Energy Industry
• Other End User

Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and North Africa

Carbon Fiber Market: Key Segments

Market Share by Type of Raw Material 

Based on type of raw material, the global carbon fiber market is segmented into PAN-based (polyacrylonitrile based), and pitch-based. According to estimates, currently, the PAN-based category captures the majority share of the market.

This can be attributed to the preference for PAN-based carbon fiber materials across different industries, owing to their exceptional strength, minimal thermal expansion and moisture absorption, remarkable lightweight properties, superior specific strength (strength-to-weight ratio), ease of processing, and effective thermal conductivity.

Market Share by Type of Fiber

Based on type of fiber, the carbon fiber market is segmented into virgin carbon fiber and recycled carbon fiber. According to estimates, currently, the recycled carbon fiber segment captures the majority of the market. This growth can be attributed to the similarity in properties between recycled and virgin carbon fiber, along with the cost-effectiveness of recycled options. Additionally, these carbon fibers provide exceptional durability in extreme conditions and demonstrate corrosion resistance.

Market Share by Application

Based on application, the carbon fiber market is segmented into composite and non-composite. According to estimates, currently, the composite carbon fiber segment captures the majority share of the market. This is due to the combination of carbon fiber with other materials, like resin, which enhances its strength-to-weight ratio, stiffness, and other advantageous properties.

Market Share by End Users 

Based on end users, the carbon fiber market is segmented into aerospace and defense industry, wind energy / alternative energy industry, automative industry, marine industry, sporting goods industry, molding and compound industry, medical and health care industry, construction and infrastructure, pressure vessels industry and other end user.

According to estimates, currently, the aviation, aerospace and defense sector captures the majority share of the market. This is due to the use of carbon fiber in aircraft manufacturing to decrease weight and enhance fuel efficiency and overall performance.

Market Share by Geographical Regions

Based on geographical regions, the carbon fiber market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to estimates, currently, Europe captures the majority share of the market. This is due to the fact that this region hosts numerous electric vehicle manufacturers, resulting in an increased demand for carbon fiber to produce lightweight and fuel-efficient cars. Furthermore, the carbon fiber sector is anticipated to experience substantial growth due to the increasing development of aviation infrastructure in Europe. However, Asia is expected to witness a relatively higher CAGR during the forecast period.

Sample Players in Carbon Fiber Market Profiled in the Report Include:

• Advanced Composites
• Anshan Sinocarb Carbon Fibers
• DowAksa
• Formosa Plastics
• Hexcel
• Holding Company Composite
• Hyosung Advanced Materials
• Jiangsu Hengshen
• Jilin Chemical Fiber
• Mitsubishi Chemical
• Nippon Graphite Fiber
• SGL Carbon
• Solvay
• Teijin Limited
• Toray Industries
• Zhongfu Shenying Carbon
• ZOLTEK

Carbon Fiber Market: Research Coverage

The report on the carbon fiber  market features insights on various sections, including:

• Market Sizing and Opportunity Analysis: An in-depth analysis of the carbon fiber market, focusing on key market segments, including type of raw material, type of fiber, type of product, type of modules / raw material, application, end-user and geography.
• Competitive Landscape: A comprehensive analysis of the companies engaged in the carbon fiber market, based on several relevant parameters, such as year of establishment, company size, location of headquarters and ownership structure.
• Company Profiles: Elaborate profiles of prominent players engaged in the carbon fiber  market, providing details on location of headquarters, company size, company mission, company footprint, management team, contact details,  financial information, operating business segments, carbon fiber  portfolio, moat analysis, recent developments, and an informed future outlook.
• Megatrends: An evaluation of ongoing megatrends in the carbon fiber industry.
• Patent Analysis: An insightful analysis of patents filed / granted in the carbon fiber domain, based on relevant parameters, including type of patent, patent publication year, patent age and leading players.
• Recent Developments: An overview of the recent developments made in the carbon fiber market, along with analysis based on relevant parameters, including year of initiative, type of initiative, geographical distribution and most active players.
• Porter’s Five Forces Analysis: An analysis of five competitive forces prevailing in the carbon fiber market, including threats of new entrants, bargaining power of buyers, bargaining power of suppliers, threats of substitute products and rivalry among existing competitors.
• SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.
• Value Chain Analysis: A comprehensive analysis of the value chain, providing information on the different phases and stakeholders involved in the carbon fiber market

Key Questions Answered in this Report

• How many companies are currently engaged in carbon fiber market?
• Which are the leading companies in this market?
• What factors are likely to influence the evolution of this market?
• What is the current and future market size?
• What is the CAGR of this market?
• How is the current and future market opportunity likely to be distributed across key market segments?

Reasons to Buy this Report

• The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
• Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
• The report offers stakeholders a comprehensive overview of the market, including key drivers, barriers, opportunities, and challenges. This information empowers stakeholders to stay abreast of market trends and make data-driven decisions to capitalize on growth prospects.

Additional Benefits

• Complimentary Excel Data Packs for all Analytical Modules in the Report
• 15% Free Content Customization
• Detailed Report Walkthrough Session with Research Team
• Free Updated report if the report is 6-12 months old or older