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Carbon Fiber Market Analysis | 2025-2030
Carbon Fiber Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2025-2030
The carbon fiber market was estimated at USD 5.8 billion in 2024 and is likely to grow at a CAGR of 10.85% during 2025-2030 to reach USD 10.78 billion in 2030.
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Carbon fibers are crystalline filaments of carbon atoms that are thin and strong. These fibers have a diameter of 5 to 10 micrometres and can be used as a strengthening material, particularly in resins and ceramics. Carbon fibers are mostly made of polyacrylonitrile (PAN), but they can also be made of rayon or petroleum pitch.
These fibers offer various advantages, such as high stiffness, excellent strength-to-weight ratio, outstanding tensile strength, exceptional chemical resistance, remarkable temperature tolerance, and low thermal expansion.
The growth of the carbon fiber market is driven by its major end-use industries like aerospace & defense, automotive, wind energy, and others.
Demand for High Performance Materials from the Aerospace & Defense Industry: The high demand for carbon fibers from the aerospace & defense sector is due to its excellent strength-to-weight ratio, that results in reduced fuel consumption. According to various sources, replacing traditional materials with composite materials enable a 15-30% reduction in structural weight that further improves its fuel efficiency. Furthermore, the expansion of the aircraft fleet will also fuel the carbon fiber market. According to a forecast by Airbus, >42,000 new aircraft deliveries will be made between 2024-2043.
Growing Demand from the Automotive Industry: A 10% reduction in vehicle weight can boost fuel efficiency by 6-8%, states the Department of Energy (DoE). Carbon fiber, owing to its light weight becomes the favorable material for the automotive industry. The growing need for vehicles further drives the growth of carbon fiber market. Additionally, the shift towards electric vehicles has increased the need for lightweight materials like carbon fiber to extend battery range and improve overall performance.
Rising Demand from Wind Energy Sector: With the growing global population, the demand for energy generation is also growing, wind energy being one of the leading sources. Carbon fiber’s high strength-to-weight ratio, which is five times that of steel, significantly reduces the overall weight of the blades, leading to improved energy capture and efficiency in wind turbines’. The increasing demand from the wind energy sector further drives the growth of light-weight materials like carbon fiber.
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High Raw Material Cost of Carbon Fiber: The major raw material of carbon fiber is polyacrylonitrile (PAN) which is costlier than the conventional materials like steel and aluminum, making it a less attractive option for the cost-sensitive end-use industries. Additionally, the high cost of manufacturing of these materials is a hindrance to their widespread market growth.
Government’s Regulations for Lesser Emissions is Driving the Demand for High-Performance Materials Like Carbon Fiber: With the rising global population, sectors like wind energy and automotive, etc. are growing rapidly, where carbon fiber is used to enhance overall performance. The automotive sector, particularly road transport, is a significant contributor to global CO2 emissions and governments across the globe are imposing strict regulations regarding the emissions from automotive sector. For instance, Regulation (EU) 2023/851 mandates a 55% CO2 reduction for new cars and 50% for vans by 2030-2034, followed by 100% reduction for both from 2035. This further creates opportunities for carbon fiber use, which reduces vehicle weight and improves efficiency, resulting in reduced emissions.
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Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
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End-Use Industry-Type Analysis |
Aerospace, Industrial, and Sporting Goods |
The industrial end-use industry segment is estimated to hold the major share of the market during the forecast period. |
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Precursor Type Analysis |
PAN-based Carbon Fiber and Pitch-based Carbon Fiber |
PAN-based carbon fiber is likely to be the largest segment of the market during the forecast period. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
Europe is estimated to be the largest growing region in the market during the forecast period. |
“The industrial end-use industry segment is estimated to hold the major share of the market during the forecast period.”
The market is segmented as aerospace, industrial, and sporting goods. The industrial end-use industry segment is estimated to hold the major share of the market during the forecast period.
The growing demand for high-performance lightweight materials in the automotive industry, as well as the increasing demand for carbon composites in wind turbines, can be attributed to the segment's growth. In addition, sporting goods are expected to witness significant growth in the market in the coming years.
“PAN-based carbon fiber is likely to be the largest as well as the fastest-growing segment of the market during the forecast period”.
The market is segmented as PAN-based carbon fiber and pitch-based carbon fiber. PAN-based carbon fiber is likely to be the largest as well as the fastest-growing segment of the market during the forecast period. It has a wide range of applications in transportation, wind energy, and aerospace/defense, which is expected to fuel the segment’s growth in the coming years.
“Europe is estimated to be the largest as well as the fastest-growing region in the market during the forecast period.”
The market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). During the period from 2025 to 2030, Europe is anticipated to emerge as both the largest and the most rapidly expanding region in the market. Growing product demand from the aerospace, automotive, and wind energy industries is likely to drive regional market growth over the forecast period.
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The following are the key players in the carbon fiber market (arranged alphabetically):
Note: The above list does not necessarily include all the top players in the market.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s carbon fiber market realities and future market possibilities for the forecast period of 2025 to 2030. After a continuous interest in our carbon fiber market report from the industry stakeholders, we have tried to further accentuate our research scope to the carbon fiber market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The carbon fiber market is segmented into the following categories:
By End-Use Industry Type
By Precursor Type
By Tow Size Type
By Modulus Type
By Region
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With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research:
Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
Carbon fibers are crystalline filaments of carbon atoms that are thin and strong. These fibers have a diameter of 5 to 10 micrometers and can be used as a strengthening material, particularly in resins and ceramics. Carbon fibers are mostly made of polyacrylonitrile (PAN), but they can also be made of rayon or petroleum pitch.
The carbon fiber market was estimated at USD 5.8 billion in 2024.
The forecasted value of the carbon fiber market is expected to be USD 10.78 billion in 2030.
The carbon fiber market is likely to grow at a CAGR of 10.85% during 2025-2030.
Toray Industries Inc., Hexcel Corporation, Mitsubishi Rayon Corporation Limited, Cytec Solvay Group, SGL Carbon Group, Teijin Limited, Formosa Plastics Corporation, DowAksa, Hyosung Corporation, and Nippon Graphite Fiber Corporation are some of the key players in the market.
Europe is estimated to remain dominant and the fastest-growing region in the market in the foreseeable future. Growing product demand from the aerospace, automotive, and wind energy industries is expected to drive the regional market growth during the forecasted period.
Industrial is estimated to be the dominant segment of the market during the forecast period. The growth of the segment can be attributed to the rising demand for high-performance lightweight materials in the automotive industry and the increasing demand for carbon composites in wind turbines. In addition, sporting goods are expected to witness significant growth in the market in the coming years.
Key factors driving the growth of the market are demand from the aerospace & defense and automotive industries, renewable energy expansion, and electric vehicle adoption.
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