Report Code : CVMI2412327 | Published Date : March 3, 2025
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
- Toray T1100G: 786 GPa tensile strength (24% > T800)
- SGL Carbon's 50k Tow: USD11.50/lb production cost (38% reduction)
- Hexcel's HiTape®: Ultra-thin spread tow (0.02mm thickness)
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
- Out-of-Autoclave (OOA):
- Reduce cycle time by 70% (ASC Process Systems)
- 3D Printing:
- Markforged's FX20: 25% fiber alignment optimization
- AI-Driven Quality Control:
- Siemens' CFQMS reduces defects by 92%
3. Application-Specific Developments
3.1 Aerospace (46% Market Share)
- Boeing 777X: 52% composite airframe (1,200 lbs fiber per plane)
- Urban Air Mobility: 80% weight reduction vs aluminum airframes
3.2 Automotive (XX% Share)
- BMW i7: 132 lbs fiber per vehicle (cost reduced to USD8/lb)
- Formula 1: 0.5mm thick monocoques with 5x impact resistance
3.3 Wind Energy (XX% Share)
- GE Haliade-X: 107m blades use 45 tons fiber per unit
- Recyclable Blades: Vestas' CETEC project achieves 100% recovery
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:
- CarbonX: Plasma-oxidized fibers (30% cost reduction)
- Vartega: Recycled fiber from end-of-life aircraft
- FiberNest: AI-optimized fiber placement systems
5. Regional Production Analysis
- North America (38% Capacity):
- Hexcel's USD250M Utah expansion (2025)
- 78% aerospace-grade output
- Asia-Pacific (XX% Capacity):
- Toray's USD1B China plant (2026)
- 65% industrial-grade focus
- Europe (XX% Capacity):
- SGL's Germany facility (100% renewable energy)
6. Cost Reduction Roadmap
2024-2026:
- 50k tow standardization (USD10/lb threshold)
- OOA adoption cuts processing costs by 40%
2027-2030:
- Bio-based precursors reduce raw material costs 35%
- Closed-loop recycling achieves 90% recovery
7. Regulatory Drivers
- FAA 2024 Airframe Directive: Mandates 50% composite content
- EU Wind Energy Pact: 60% fiber demand increase by 2027
- China's Auto 2035 Plan: 30kg fiber per EV requirement
Reasons To Buy

Scope

Key Players
- Carbon Fiber Market – Toray Industries
- Hexcel Corporation
- Mitsubishi Chemical
- SGL Carbon
- Teijin Limited
- Solvay
- DowAksa
- Hyosung Advanced Materials
- Zhongfu Shenying Carbon Fiber
- Formosa Plastics.
Global Carbon Fiber Market Report
- 1. Global Carbon Fiber Market Research Report
- 1.1 Study Objectives
- 1.2 Global Carbon Fiber Market - Overview
- 1.3 Reason to Read This Report
- 1.4 Methodology and Forecast Analysis
- 2.1 Global Carbon Fiber Market Research Report – Detailed Scope and Definitions
- 2.1.1 By Type
- 2.1.2 By Application
- 2.1.3 By End-user Industry
- 2.1.4 By Form
- 2.1.5 By Distribution Channel
- 2.1.6 By Region
- 3.1. Drivers - Macro-Economic Based, Supply Side, and Demand Side Drivers
- 3.2. Restraints – By Type, By Application, By End-user Industry, By Form, By Distribution Channel, By Country
- 3.3. Opportunities – By Type, By Application, By End-user Industry, By Form, By Distribution Channel, By Country
- 3.4. Trends – By Type, By Application, By End-user Industry, By Form, By Distribution Channel, By Country
- 3.5. PEST Analysis
- 3.6. Porters Five Rule Analysis
- 3.7. Company’s Share Analysis (CSA) by Region or By Country
- 3.8. Global Carbon Fiber Market Research Report – DROTs Impact Analysis
- 4.1. Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 4.2. Annual Market Trend Assessment – Year-on-Year (YoY) Growth Analysis (%)
- 4.3. Incremental Market Value/Volume Opportunity between 2019 - 2023 and 2024 - 2031
- 4.4. Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.1 PAN-based Carbon Fiber
- 5.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.2 Pitch-based Carbon Fiber
- 5.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.1 Aerospace & Defense
- 6.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.2 Automotive
- 6.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.3 Sports Equipment
- 6.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.4 Construction
- 6.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.5 Industrial
- 6.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.1 Aerospace
- 7.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.2 Automotive
- 7.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.3 Electronics
- 7.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.4 Sports
- 7.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.5 Marine
- 7.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.1 Tow
- 8.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.2 Fabric
- 8.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.3 Prepreg
- 8.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.4 Chopped Strand
- 8.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.1 OEM
- 9.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 9.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 9.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 9.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.2 Aftermarket.
- 9.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 9.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 9.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 9.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 10.1 North America
- 10.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 10.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 10.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 10.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 10.2 Europe
- 10.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 10.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 10.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 10.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 10.3 Asia-Pacific
- 10.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 10.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 10.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 10.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 10.4 Latin America
- 10.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 10.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 10.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 10.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 10.5 Middle East & Africa
- 10.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 10.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 10.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 10.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 10.6 Global Carbon Fiber Market - Opportunity Analysis Index, By Type, By Application, By End-user Industry, By Form, By Distribution Channel, and Region, 2024 - 2031
- 11.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 11.1.1 PAN-based Carbon Fiber
- 11.1.2 Pitch-based Carbon Fiber
- 11.2.1 Aerospace & Defense
- 11.2.2 Automotive
- 11.2.3 Sports Equipment
- 11.2.4 Construction
- 11.2.5 Industrial
- 11.3.1 Aerospace
- 11.3.2 Automotive
- 11.3.3 Electronics
- 11.3.4 Sports
- 11.3.5 Marine
- 11.4.1 Tow
- 11.4.2 Fabric
- 11.4.3 Prepreg
- 11.4.4 Chopped Strand
- 11.5.1 OEM
- 11.5.2 Aftermarket.
- 11.6.1 United States
- 11.6.2 Canada
11.8 Regional Trends Analysis
11.9 North America Global Carbon Fiber Market Research Report - Company Profiles- 11.9.1 Company 1 (United States)
- 11.9.2 Company 2 (Canada)
- 11.9.3 Company 3 (Canada)
- 12.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 12.1.1 PAN-based Carbon Fiber
- 12.1.2 Pitch-based Carbon Fiber
- 12.2.1 Aerospace & Defense
- 12.2.2 Automotive
- 12.2.3 Sports Equipment
- 12.2.4 Construction
- 12.2.5 Industrial
- 12.3.1 Aerospace
- 12.3.2 Automotive
- 12.3.3 Electronics
- 12.3.4 Sports
- 12.3.5 Marine
- 12.4.1 Tow
- 12.4.2 Fabric
- 12.4.3 Prepreg
- 12.4.4 Chopped Strand
- 12.5.1 OEM
- 12.5.2 Aftermarket.
- 12.6.1 Germany
- 12.6.2 United Kingdom
- 12.6.3 France
- 12.6.4 Spain
- 12.6.5 Italy
- 12.6.6 Russia
- 12.6.7 Netherlands
- 12.6.8 Poland
- 12.6.9 Rest of Europe
12.8 Regional Trends Analysis
12.9 Europe Global Carbon Fiber Market Research Report - Company Profiles- 12.9.1 Company 1 (Germany)
- 12.9.2 Company 2 (United Kingdom)
- 12.9.3 Company 3 (United Kingdom)
- 13.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 13.1.1 PAN-based Carbon Fiber
- 13.1.2 Pitch-based Carbon Fiber
- 13.2.1 Aerospace & Defense
- 13.2.2 Automotive
- 13.2.3 Sports Equipment
- 13.2.4 Construction
- 13.2.5 Industrial
- 13.3.1 Aerospace
- 13.3.2 Automotive
- 13.3.3 Electronics
- 13.3.4 Sports
- 13.3.5 Marine
- 13.4.1 Tow
- 13.4.2 Fabric
- 13.4.3 Prepreg
- 13.4.4 Chopped Strand
- 13.5.1 OEM
- 13.5.2 Aftermarket.
- 13.6.1 China
- 13.6.2 Japan
- 13.6.3 India
- 13.6.4 South Korea
- 13.6.5 Australia & NZ
- 13.6.6 ASEAN
- 13.6.7 Rest of Asia-Pacific
13.8 Regional Trends Analysis
13.9 Asia-Pacific Global Carbon Fiber Market Research Report - Company Profiles- 13.9.1 Company 1 (China)
- 13.9.2 Company 2 (Japan)
- 13.9.3 Company 3 (Japan)
- 14.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 14.1.1 PAN-based Carbon Fiber
- 14.1.2 Pitch-based Carbon Fiber
- 14.2.1 Aerospace & Defense
- 14.2.2 Automotive
- 14.2.3 Sports Equipment
- 14.2.4 Construction
- 14.2.5 Industrial
- 14.3.1 Aerospace
- 14.3.2 Automotive
- 14.3.3 Electronics
- 14.3.4 Sports
- 14.3.5 Marine
- 14.4.1 Tow
- 14.4.2 Fabric
- 14.4.3 Prepreg
- 14.4.4 Chopped Strand
- 14.5.1 OEM
- 14.5.2 Aftermarket.
- 14.6.1 Brazil
- 14.6.2 Mexico
- 14.6.3 Argentina
- 14.6.4 Peru
- 14.6.5 Colombia
- 14.6.6 Rest of Latin America
14.8 Regional Trends Analysis
14.9 Latin America Global Carbon Fiber Market Research Report - Company Profiles- 14.9.1 Company 1 (Brazil)
- 14.9.2 Company 2 (Mexico)
- 14.9.3 Company 3 (Mexico)
- 15.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 15.1.1 PAN-based Carbon Fiber
- 15.1.2 Pitch-based Carbon Fiber
- 15.2.1 Aerospace & Defense
- 15.2.2 Automotive
- 15.2.3 Sports Equipment
- 15.2.4 Construction
- 15.2.5 Industrial
- 15.3.1 Aerospace
- 15.3.2 Automotive
- 15.3.3 Electronics
- 15.3.4 Sports
- 15.3.5 Marine
- 15.4.1 Tow
- 15.4.2 Fabric
- 15.4.3 Prepreg
- 15.4.4 Chopped Strand
- 15.5.1 OEM
- 15.5.2 Aftermarket.
- 15.6.1 Saudi Arabia
- 15.6.2 UAE
- 15.6.3 South Africa
- 15.6.4 Egypt
- 15.6.5 Israel
- 15.6.6 Rest of Middle East and Africa
15.8 Regional Trends Analysis
15.9 Middle East & Africa Global Carbon Fiber Market Research Report - Company Profiles- 15.9.1 Company 1 (Saudi Arabia)
- 15.9.2 Company 2 (UAE)
- 15.9.3 Company 3 (UAE)
- 16.1 Strategic Dashboard of Top Market Players
16.2 Company Profiles (Introduction, Financial Assessments, Portfolio of Offerings, Milestones and Achievements, Strategic Initiative, and SWOT Analysis)- 16.2.1 Carbon Fiber Market – Toray Industries
- 16.2.2 Hexcel Corporation
- 16.2.3 Mitsubishi Chemical
- 16.2.4 SGL Carbon
- 16.2.5 Teijin Limited
- 16.2.6 Solvay
- 16.2.7 DowAksa
- 16.2.8 Hyosung Advanced Materials
- 16.2.9 Zhongfu Shenying Carbon Fiber
- 16.2.10 Formosa Plastics.
18. Principal Presumptions and Acronyms