Carbon Fiber Market - By Type: PAN-based Carbon Fiber, Pitch-based Carbon Fiber. By Application: Aerospace & Defense, Automotive, Sports Equipment, Construction, Industrial. By End-user Industry: Aerospace, Automotive, Electronics, Sports, Marine. By Form: Tow, Fabric, Prepreg, Chopped Strand. By Distribution Channel: OEM, Aftermarket. By Region: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
The global carbon fiber market was valued at 4.3 billion USD in 2023 and is projected to reach USD 9.8 billion by 2031, growing at a 10.2% CAGR (ClearView Market Insights, 2024). This growth is driven by demands in aerospace lightweighting, wind energy expansion, and automotive electrification. The market comprises 46% aerospace-grade, 32% industrial-grade, and 22% commercial-grade fibers.
2. Material Science Breakthroughs (2024)
2.1 Next-Gen Fiber Innovations
2.2 Resin System Advancements
|
Type |
Innovation |
Impact |
|
Thermoplastic |
Arkema's PEKK-SC (240°C Tg) |
60% faster consolidation |
|
Bio-based |
Solvay's Elium® (100% recyclable) |
85% lower VOC emissions |
|
Self-healing |
Mitsubishi's HTR-1000 |
300% crack resistance |
2.3 Manufacturing Technologies
3. Application-Specific Developments
3.1 Aerospace (46% Market Share)
3.2 Automotive (XX% Share)
3.3 Wind Energy (XX% Share)
4. Competitive Landscape
|
Company |
Market Share |
Key Product |
2024 Innovation |
|
Toray |
28% |
T1100G |
24% strength increase |
|
Hexcel |
22% |
HiTape® |
0.02mm ultrathin prepreg |
|
SGL Carbon |
18% |
SIGRAFIL® C T50-4.0 |
USD11.50/lb large-tow |
|
Mitsubishi |
15% |
HTR-1000 |
Self-healing matrix |
Emerging Players:
5. Regional Production Analysis
6. Cost Reduction Roadmap
2024-2026:
2027-2030:
7. Regulatory Drivers
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