Carbon Fiber Industry Overview

The global carbon fiber market size was valued at USD 4.66 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.9% from 2023 to 2030. This growth is attributed to the growing adoption of carbon fiber in automotive and aerospace applications. Increasing automotive demand coupled with the rising need for lightweight vehicles is expected to fuel the demand over the forecast period. The need for fuel-efficient vehicles along with government regulations limiting or restricting automotive pollution are anticipated to play a key role during the forecast period.

The growing aerospace industry in countries across the Asia Pacific and Europe is also projected to fuel the growth. Rising demand for commercial aviation on account of increased disposable income and globalization has driven growth across the aerospace industry over the last few years. This trend is likely to continue over the forecast period as well. The surge in demand for sports and leisure applications, especially in the Asia Pacific region, is also likely to increase the product scope.

Gather more insights about the market drivers, restraints and growth of the  Carbon Fiber Market

Carbon fiber products play an essential role in manufacturing automotive and aircraft parts. Growing concerns regarding fuel consumption and CO2 emission levels have urged manufacturers to use carbon fiber composite materials as substitutes for metal components. Technological innovations to minimize the manufacturing cycle time are expected to propel the demand for carbon fiber in the automotive sector.

The energy crisis has forced various end-users to use carbon fiber to increase the energy efficiency of products. A surge in product demand across aerospace and wind turbine applications is expected to boost the global market growth over the forecast period. Moreover, rising governmental support toward the installation of wind turbines is projected to positively influence the demand for carbon fiber. The growth of the commercial aviation segment is also expected to propel the demand for carbon fiber in aerospace applications over the forecast period.

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Carbon Fiber Market Segmentation

Grand View Research has segmented the carbon fiber market on the basis of raw material, tow size, application, and region:

Carbon Fiber Raw Material Outlook (Volume, Tons; Revenue, USD Million; 2018 - 2030)

• PAN Based
• Pitch Based

Carbon Fiber Tow Size Outlook (Volume, Tons; Revenue, USD Million; 2018 - 2030)

• Small Tow
• Large Tow

Carbon Fiber Application Type Outlook (Volume, Tons; Revenue, USD Million; 2018 - 2030)

• Automotive
• Aerospace & Defense
• Wind Turbines
• Sports/Leisure
• Molding & Compound
• Construction
• Pressure Vessel
• Others

Carbon Fiber Regional Outlook (Volume, Tons; Revenue, USD Million; 2018 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • UK
• Asia Pacific
  • China
  • Taiwan
  • Japan
• Central & South America
  • Brazil
• Middle East & Africa

Key Companies profiled:

• A&P Technology Inc.
• Anshan Sinocarb Carbon Fibers Co., Ltd. Ltd
• DowAksa USA LLC
• Formosa Plastics Corporation
• Hexcel Corporation
• Holding company Composite
• Hyosung Advanced Materials
• Jiangsu Hengshen Co. Ltd
• Mitsubishi Chemical Corporation
• Nippon Graphite Fiber Co. Ltd
• SGL Carbon
• Solvay
• Teijin Limited
• Toray Industries Inc.
• Zhongfu Shenying Carbon Fiber Co., Ltd. Ltd

Order a free sample PDF  of the Carbon Fiber Market Intelligence Study, published by  Grand View Research.