Carbon Fiber Market worth $10.68 billion by 2030 - Exclusive Report by The Research Insights

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May 14, 2025, 10:15 ET

CHICAGO, May 14, 2025 /PRNewswire/ -- The global Carbon Fiber Market is projected to be valued at USD 5.75 billion in 2024 and reach USD 10.68 billion by 2030, growing at a CAGR of 10.9% according to a new report by The Research Insights. The carbon fiber market size is driven by technological improvements in filter media are transforming industry standards for cleaner air and water while particularly benefiting sectors associated with carbon fiber production. The development of impregnated activated carbon alongside bio-based carbon and nanotechnology-enhanced filters has resulted in superior performance while meeting international sustainability objectives.

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Browse in-depth TOC on 'Carbon Fiber Market'
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By Based on material, PAN (Polyacrylonitrile) leads the carbon fiber market share as the preferred raw material because it makes up more than 90% of worldwide production owing to its exceptional mechanical properties which feature high tensile strength and excellent modulus. PAN-based carbon fibers surpass their pitch and rayon counterparts in versatility and processability which makes them suitable for use in multiple sectors including aerospace and automotive applications. The carbon fiber industry continues to use PAN fibers as its primary material because of its mature supply chain infrastructure and scalable production methods which enable it to meet the strict performance standards required by the advancing carbon fiber market.

By Based on product type, continuous carbon fiber leads the carbon fiber market preference because of its exceptional mechanical performance capabilities combined with structural integrity and flexibility for high-end applications. The uninterrupted length of continuous fibers delivers ultimate strength and stiffness which makes them vital for aerospace, automotive and wind energy industries that require durable lightweight materials. Continuous carbon fiber demonstrates superior load-bearing abilities relative to long or short carbon fibers that are common in semi-structural or non-structural items such as consumer products and molded plastic composites while it gains preference in advanced composite applications and manufacturing processes. The carbon fiber market is dominated by the rising need for superior materials which satisfy strict engineering and design requirements.

By Based on modulus type, standard modulus carbon fiber dominates the carbon fiber market growth because of its cost-effective performance and universal use across many industries. With tensile modulus values between 33–35 Msi standard modulus carbon fibers deliver adequate strength and stiffness for diverse structural and functional applications such as aerospace components, automotive parts, sporting goods, and wind turbine blades. Intermediate and high modulus carbon fibers deliver superior stiffness suitable for specialized uses like satellites and advanced aerospace structures yet remain costly and in limited production quantities. The widespread use of standard modulus fiber in the carbon fiber market shows that manufacturers aim to provide scalable production methods which provide peak performance while maintaining competitive pricing.

By end-use, aerospace and defence sector lead the carbon fiber market because of the material's superior strength-to-weight ratio together with its excellent fatigue resistance and durability. To improve fuel efficiency and reduce weight aircraft manufacturers use carbon fiber composites in critical components like fuselages wings tail sections and interior parts. Carbon fiber plays a vital role in defence applications where high-performance requirements for drones, ballistic protection systems, radar systems, and vehicle armor demand superior performance along with speed and stealth capabilities. Carbon fiber remains an essential component in this sector because it successfully meets rigorous regulatory and operational requirements.

Automotive, wind energy, and sports & leisure sectors are adopting carbon fiber at a fast pace for performance enhancement and weight reduction but their use remains below aerospace and defence in terms of material consumption and value. The ongoing growth in commercial aviation alongside increased global defence spending will maintain aerospace and defence as the leading sectors for carbon fiber demand well into the future.

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By geography, North American carbon fiber market thrives from substantial requirements originating from aerospace & defence sectors as well as automotive and wind energy fields. The United States dominates carbon fiber consumption through its aerospace and defence industries which require this material for advanced aerospace parts and military vehicles. The region experiences progress in sustainable carbon fiber recycling methods and production practices which conform to environmental regulations and sustainability targets. The carbon fiber market in North America will continue to grow at a constant rate because of the region's strong investment in research and development alongside its innovative efforts. The carbon fiber market is expanding most rapidly in Asia Pacific because of industrial growth combined with rising investments in advanced manufacturing technologies. Europe holds a dominant position in the carbon fiber market with leading contributions in aerospace, automotive, and sports sectors. Manufacturers are being driven to use carbon fiber for high-performance eco-friendly applications due to the European Union's focus on sustainability and carbon reduction.

In summary, Aerospace & defence, automotive, and wind energy sectors generate strong demand which propels the North American carbon fiber market. The United States leads in developing lightweight solutions for aircraft and defence vehicles along with UAVs and carbon fiber utilization grows in the automotive sector especially for electric vehicles. The development of sustainable carbon fiber manufacturing methods combined with effective recycling processes will drive industry growth.

The key players in the carbon fiber market are DowAksa USA LLC, Formosa Plastics Corporation, Mitsubishi Chemical Corporation, Hexcel Corporation, A&P Technology Inc., Nippon Graphite Fiber Co. Ltd, SGL Carbon, Syensqo, Teijin Limited, Toray Industries Inc., Gurit Holding AG, BASF, Covestro AG, Celanese Corporation and HS Hyosung Advanced Materials Corp.

Toray Industries Inc.:

Toray Industries Inc. is one of the key players for global carbon fiber market with substantial market share driven by its high-performance composite materials and integrated production system. The COMPANY provides its high-quality TORAYCA® PAN-based carbon fibers to aerospace, automotive, wind energy and sporting goods industries. Toray maintains a dependable worldwide supply network through its production sites in Japan, the U.S., France, and South Korea. The strong research and development capabilities of the firm along with its partnerships with major aerospace companies Boeing and Airbus reinforce its market dominance. Toray develops advanced high-modulus and recycled carbon fibers which establishes it as both sustainable and technologically superior within the growing carbon fiber industry.

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Teijin Limited:

Toho Tenax which is a subsidiary of Teijin Limited maintain a strong position in the carbon fiber market for chemical and materials manufacturing. The company provides high-strength carbon fibers designed for use in aerospace applications together with automotive, energy, and industrial sectors. Teijin specializes in lightweighting solutions and sustainability while its Tenax™ product line delivers exceptional tensile properties and consistency. Teijin maintains its manufacturing operations in crucial markets by having facilities based in Japan, Germany, and the United States. The company continues to build its capabilities in next-generation mobility solutions and hydrogen storage fields. Through strategic acquisitions and investments in R&D for thermoplastic composites and recycled carbon fiber Teijin strengthens its market standing while committing to circular economy standards within the carbon fiber industry.

Hexcel Corporation:

Hexcel Corporation is one of the leading producers of sophisticated composite materials while playing a crucial role in the carbon fiber market. The company supplies advanced carbon fibers together with prepregs and woven materials which find their primary applications in aerospace, defence, and industry sectors. The HexTow® carbon fiber from Hexcel stands out for exceptional strength and stiffness designed for challenging structural uses. Hexcel maintains its strong position as the main supplier for both Boeing and Airbus which enhances its dominance in the aerospace market. Through its investment in carbon fiber innovations like out-of-autoclave technologies and hybrid materials the firm keeps pace with market demands for lightweight and performance-enhanced products. Hexcel's worldwide operations along with their interconnected production capabilities enable them to maintain a dominant position in the high-end carbon fiber market.

Carbon Fiber Market Recent Developments and Innovations:

In March 2024, Hexcel launched a wew HexTow® IM9 24K carbon fiber which is lightweight, strong, and durable carbon fiber with enhanced value for the world's most advanced aerospace composite applications.
In February 2024, Syensqo partnered with Trillium Renewable Chemicals with a focus on creating sustainable raw materials for carbon fiber applications. Trillium has made significant progress on the design and installation of a small-scale Bio-ACNTM (bio-based acrylonitrile) facility and delivered initial representative pilot scale samples of Bio-ACNTM to Syensqo.
In January 2024, Toray Industries launched TORAYCA™ M46X carbon fiber. The new offering is around 20% stronger than others in the TORAYCA™ MX series while maintaining a high tensile modulus. Utilizing TORAYCA™ M46X reduces the weight of carbon fiber-reinforced plastic materials, lowering its environmental impact.

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Conclusion:

Global carbon fiber market expansion continues at a fast pace due to rising needs from advanced performance sectors including aerospace & defence, automotive manufacturing, wind energy projects, and sports equipment production. The carbon fiber material stands out as essential for next-generation manufacturing due to its superior strength-to-weight ratio paired with corrosion resistance and fatigue performance when nations prioritize sustainability and lightweighting. North America dominates aerospace and defence applications regionally while Asia Pacific experiences the fastest growth due to rapid industrialization and renewable energy investments and Europe leads with sustainable solutions in automotive and aerospace innovation. Current manufacturing process improvements through nanotechnology and automation technologies help achieve cost savings alongside performance enhancements. The tightening of environmental regulations and the industrial shift toward greener options will drive the carbon fiber market to focus on recyclability and bio-based precursors while expanding into high-volume automotive applications.

The report from The Research Insights, therefore, provides several stakeholders—including raw material suppliers, manufacturers, and end users—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

With projected growth to US$ 10.68 billion by 2030, the Carbon Fiber Market represents a significant opportunity for raw material suppliers, manufacturers, end-users, investors, industry stakeholders, and others. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.

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