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Carbon Fiber Market

Carbon Fiber Market Analysis 2025 and Forecasts 2033: Unveiling Growth Opportunities

Carbon Fiber Market by Precursor (PAN, Pitch), by Tow (Large Tow, Small Tow), by Application (Aviation, Aerospace & Defense, Automotive, Wind Turbines, Sports & Leisure, Construction, Others), by North America (U.S., Canada) Forecast 2026-2034

Feb 5 2025

Base Year: 2025

180 Pages

Carbon Fiber Market Analysis 2025 and Forecasts 2033: Unveiling Growth Opportunities

Key Insights

The Carbon Fiber Marketsize was valued at USD 3.31 USD Billion in 2023 and is projected to reach USD 5.97 USD Billion by 2032, exhibiting a CAGR of 8.8 % during the forecast period. Carbon Fiber is a composite material that has minute carbon fibres embedded in a matrix. It is stiff and tough and is made of carbon atoms linked together in a preset fibre formation. Carbon fibre is stronger than steel, five times lighter, and thus ideal for creating converters that are strong and lightweight. The high tensile strength of the material, its low coefficient of thermal expansion, and its ability to withstand corrosive and fatigue effects are advantages of this material. These features make it an ideal material for various high-performance applications. The benefit of carbon fibre is that it is widely used in the manufacture of cars and airplanes since its lightweight nature is perfect for these industries and helps in improving their efficiency. The more details about this material are the following: The first benefit of carbon fibre is that it is widely used in the manufacture of cars and airplanes since its lightweight nature is perfect for these industries and helps in improving their efficiency. Also in some other applications, for example, in sports, carbon fiber is used in bicycles and tennis racquets because they are lean and strong.

Carbon Fiber Trends

Increasing demand for lightweight and high-performance materials
Growing adoption of carbon fiber in aerospace and automotive applications
Development of new and innovative carbon fiber production technologies
Increasing investment in research and development
Government initiatives to promote the use of carbon fiber

Carbon Fiber Market Market Size and Forecast (2024-2030) — Carbon Fiber Market Company Market Share

Driving Forces: What's Propelling the Carbon Fiber Market

Increasing demand for lightweight materials: Carbon fiber is a lightweight and high-strength material that is ideal for use in applications where weight reduction is critical, such as aerospace and automotive.
Growing adoption in aerospace and automotive: Carbon fiber is increasingly being used in aerospace and automotive applications due to its high strength-to-weight ratio and stiffness.
Government initiatives: Governments around the world are promoting the use of carbon fiber in various industries, such as automotive and aerospace, as it is a lightweight and high-performance material.

Challenges and Restraints in Carbon Fiber Market

High cost: Carbon fiber is a relatively expensive material compared to traditional materials like steel and aluminum, which can limit its widespread adoption in various applications.
Production complexities: The production process of carbon fiber is intricate and requires specialized equipment and expertise, leading to potential supply constraints and higher manufacturing costs.
Competition from alternative materials: Carbon fiber faces competition from other lightweight materials like aluminum, titanium, and advanced composites, which may offer comparable performance at lower costs or with different property advantages.

Emerging Trends in Carbon Fiber

Development of new carbon fiber production technologies: New carbon fiber production technologies are being developed that are more efficient and cost-effective, which could make carbon fiber more accessible in the future.
Increasing use of carbon fiber in new applications: Carbon fiber is being increasingly used in new applications, such as construction and sports equipment, as it offers a unique combination of strength, lightness, and stiffness.

Growth Catalysts in Carbon Fiber Industry

Growing demand from aerospace and automotive sectors: The aerospace and automotive industries are major consumers of carbon fiber due to its exceptional strength-to-weight ratio and ability to reduce weight while enhancing performance in vehicles and aircraft.
Government support and R&D initiatives: Governments and research institutions worldwide are investing in research and development efforts to advance carbon fiber technology, leading to innovations that can potentially reduce production costs and expand its applications.

Market Segmentation: Carbon Fiber Analysis

Precursor: PAN and Pitch: PAN (polyacrylonitrile)-based carbon fiber is the most common type of carbon fiber, accounting for over 90% of the market. Pitch-based carbon fiber is more expensive than PAN-based carbon fiber, but it has higher strength and stiffness.
Tow: Large Tow and Small Tow: Large tow carbon fiber has a diameter of 12K or more, while small tow carbon fiber has a diameter of less than 12K. Small tow carbon fiber is more expensive than large tow carbon fiber, but it has better mechanical properties.
Application: Aviation, Aerospace & Defense, Automotive, Wind Turbines, Sports & Leisure, Construction, and Others: The largest application segment is aviation, aerospace & defense, which accounted for over 50% of the market in 2022. The automotive segment is growing rapidly, and is expected to be the largest application segment by 2030.

Leading Players in the Carbon Fiber Market

Significant developments in Carbon Fiber Sector

December 2022: Solvay collaborated with Trillium on bio-based acrylonitrile to produce carbon fiber for automotive, aerospace, consumer goods, and energy applications.
September 2022: Solvay launched LTM 350, a next-generation epoxy prepreg carbon fiber tooling material designed to deliver significant cost and time savings for the aerospace, industrial, automotive and race car markets.
July 2021: Toray Industries Inc. completed the acquisition of Tencate Advanced Composites Holding BV, a Dutch producer and distributor of carbon fiber composite materials. TenCate's parent firm, Koninklijke Ten Cate BV, agreed to sell the business to Toray for €930 million (USD 1 billion), including net debt. With this acquisition, the company would be able to provide a wider product lineup, such as polymer technologies and carbon fiber.
February 2021 –: Teijin Limited launched Tenax BM (beam series) and Tenax PW (power series) brands of carbon fiber intermediate materials for sports applications. This launch will help the company to maximize power and speed due its exceptional durability and toughness.

Comprehensive Coverage Carbon Fiber Market Report

Global carbon fiber market size, growth rate, and projections
Market segmentation by precursor, tow, and application (e.g., aerospace, automotive, energy, sports)
Analysis of key market dynamics: drivers, restraints, challenges, and opportunities
Market share analysis and competitive landscape, including leading players and emerging entrants
Porter's Five Forces analysis and SWOT analysis
Industry trends, developments, and technological advancements
Case studies and best practices in carbon fiber applications

Regional Insight

North America
Europe
Asia-Pacific
South America
Middle East & Africa

Carbon Fiber Market Market Share by Region - Global Geographic Distribution — Carbon Fiber Market Regional Market Share

Consumer Side Analysis

Consumer behavior and preferences
Consumer segmentation
Consumer decision-making process

Demand Side Analysis

Demand drivers and restraints
Demand forecasting
Demand elasticity

Import And Export Analysis

Import and export data
Trade patterns
Import and export regulations

Pricing Strategies

Pricing models
Pricing strategies
Competitive pricing analysis

Segmentation

Market segmentation by product type: (Wind Turbines)
Market segmentation by end-use industry
Market segmentation by geography

Geographic Coverage of Carbon Fiber Market

Higher Coverage

Lower Coverage

No Coverage

Carbon Fiber Market REPORT HIGHLIGHTS

Aspects	Details
Study Period	2020-2034
Base Year	2025
Estimated Year	2026
Forecast Period	2026-2034
Historical Period	2020-2025
Growth Rate	CAGR of 8.8% from 2020-2034
Segmentation	By Precursor PAN Pitch By Tow Large Tow Small Tow By Application Aviation Aerospace & Defense Automotive Wind Turbines Sports & Leisure Construction Others By Geography North America U.S. Canada

1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
- 2.1. Introduction
3. Market Dynamics
- 3.1. Introduction
- - 3.2. Market Drivers
  - - 3.2.1. Increasing Product Usage in Automotive Industry to Drive Market Growth
- - 3.3. Market Restrains
  - - 3.3.1. High Cost of the Product to Hinder Market Growth
- - 3.4. Market Trends
  - - 3.4.1. Research Focusing on Product Manufacturing from Non-Conventional Raw Materials to Create Lucrative Growth Opportunities
4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
5. Global Carbon Fiber Market Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Precursor
  - 5.1.1. PAN
  - 5.1.2. Pitch
- 5.2. Market Analysis, Insights and Forecast - by Tow
  - 5.2.1. Large Tow
  - 5.2.2. Small Tow
- 5.3. Market Analysis, Insights and Forecast - by Application
  - 5.3.1. Aviation
  - 5.3.2. Aerospace & Defense
  - 5.3.3. Automotive
  - 5.3.4. Wind Turbines
  - 5.3.5. Sports & Leisure
  - 5.3.6. Construction
  - 5.3.7. Others
- 5.4. Market Analysis, Insights and Forecast - by Region
  - 5.4.1. North America
6. Competitive Analysis
- 6.1. Global Market Share Analysis 2025
- - 6.2. Company Profiles
  - - 6.2.1 Toray Industries Inc. (Japan)
      6.2.1.1. Overview
      6.2.1.2. Products
      6.2.1.3. SWOT Analysis
      6.2.1.4. Recent Developments
      6.2.1.5. Financials (Based on Availability)
    - 6.2.2 Solvay (Belgium)
      6.2.2.1. Overview
      6.2.2.2. Products
      6.2.2.3. SWOT Analysis
      6.2.2.4. Recent Developments
      6.2.2.5. Financials (Based on Availability)
    - 6.2.3 Nippon Graphite Fiber Co. Ltd. (Japan)
      6.2.3.1. Overview
      6.2.3.2. Products
      6.2.3.3. SWOT Analysis
      6.2.3.4. Recent Developments
      6.2.3.5. Financials (Based on Availability)
    - 6.2.4 TEIJIN LIMITED (Japan)
      6.2.4.1. Overview
      6.2.4.2. Products
      6.2.4.3. SWOT Analysis
      6.2.4.4. Recent Developments
      6.2.4.5. Financials (Based on Availability)
    - 6.2.5 Hexcel Corporation (U.S.)
      6.2.5.1. Overview
      6.2.5.2. Products
      6.2.5.3. SWOT Analysis
      6.2.5.4. Recent Developments
      6.2.5.5. Financials (Based on Availability)
    - 6.2.6 ZOLTEK Corporation (U.S.)
      6.2.6.1. Overview
      6.2.6.2. Products
      6.2.6.3. SWOT Analysis
      6.2.6.4. Recent Developments
      6.2.6.5. Financials (Based on Availability)
    - 6.2.7 HYOSUNG ADVANCED MATERIALS (South Korea)
      6.2.7.1. Overview
      6.2.7.2. Products
      6.2.7.3. SWOT Analysis
      6.2.7.4. Recent Developments
      6.2.7.5. Financials (Based on Availability)
    - 6.2.8 Advanced Composites Inc. (U.S.)
      6.2.8.1. Overview
      6.2.8.2. Products
      6.2.8.3. SWOT Analysis
      6.2.8.4. Recent Developments
      6.2.8.5. Financials (Based on Availability)
    - 6.2.9 Mitsubishi Chemical Carbon Fiber and Composites Inc. (U.S.)
      6.2.9.1. Overview
      6.2.9.2. Products
      6.2.9.3. SWOT Analysis
      6.2.9.4. Recent Developments
      6.2.9.5. Financials (Based on Availability)
    - 6.2.10 Formosa M Co. Ltd. (South Korea)
      6.2.10.1. Overview
      6.2.10.2. Products
      6.2.10.3. SWOT Analysis
      6.2.10.4. Recent Developments
      6.2.10.5. Financials (Based on Availability)

List of Figures

Figure 1: Global Carbon Fiber Market Revenue Breakdown (USD Billion, %) by Region 2025 & 2033
Figure 2: Global Carbon Fiber Market Volume Breakdown (K Tons, %) by Region 2025 & 2033
Figure 3: North America Carbon Fiber Market Revenue (USD Billion), by Precursor 2025 & 2033
Figure 4: North America Carbon Fiber Market Volume (K Tons), by Precursor 2025 & 2033
Figure 5: North America Carbon Fiber Market Revenue Share (%), by Precursor 2025 & 2033
Figure 6: North America Carbon Fiber Market Volume Share (%), by Precursor 2025 & 2033
Figure 7: North America Carbon Fiber Market Revenue (USD Billion), by Tow 2025 & 2033
Figure 8: North America Carbon Fiber Market Volume (K Tons), by Tow 2025 & 2033
Figure 9: North America Carbon Fiber Market Revenue Share (%), by Tow 2025 & 2033
Figure 10: North America Carbon Fiber Market Volume Share (%), by Tow 2025 & 2033
Figure 11: North America Carbon Fiber Market Revenue (USD Billion), by Application 2025 & 2033
Figure 12: North America Carbon Fiber Market Volume (K Tons), by Application 2025 & 2033
Figure 13: North America Carbon Fiber Market Revenue Share (%), by Application 2025 & 2033
Figure 14: North America Carbon Fiber Market Volume Share (%), by Application 2025 & 2033
Figure 15: North America Carbon Fiber Market Revenue (USD Billion), by Country 2025 & 2033
Figure 16: North America Carbon Fiber Market Volume (K Tons), by Country 2025 & 2033
Figure 17: North America Carbon Fiber Market Revenue Share (%), by Country 2025 & 2033
Figure 18: North America Carbon Fiber Market Volume Share (%), by Country 2025 & 2033

List of Tables

Table 1: Global Carbon Fiber Market Revenue USD Billion Forecast, by Precursor 2020 & 2033
Table 2: Global Carbon Fiber Market Volume K Tons Forecast, by Precursor 2020 & 2033
Table 3: Global Carbon Fiber Market Revenue USD Billion Forecast, by Tow 2020 & 2033
Table 4: Global Carbon Fiber Market Volume K Tons Forecast, by Tow 2020 & 2033
Table 5: Global Carbon Fiber Market Revenue USD Billion Forecast, by Application 2020 & 2033
Table 6: Global Carbon Fiber Market Volume K Tons Forecast, by Application 2020 & 2033
Table 7: Global Carbon Fiber Market Revenue USD Billion Forecast, by Region 2020 & 2033
Table 8: Global Carbon Fiber Market Volume K Tons Forecast, by Region 2020 & 2033
Table 9: Global Carbon Fiber Market Revenue USD Billion Forecast, by Precursor 2020 & 2033
Table 10: Global Carbon Fiber Market Volume K Tons Forecast, by Precursor 2020 & 2033
Table 11: Global Carbon Fiber Market Revenue USD Billion Forecast, by Tow 2020 & 2033
Table 12: Global Carbon Fiber Market Volume K Tons Forecast, by Tow 2020 & 2033
Table 13: Global Carbon Fiber Market Revenue USD Billion Forecast, by Application 2020 & 2033
Table 14: Global Carbon Fiber Market Volume K Tons Forecast, by Application 2020 & 2033
Table 15: Global Carbon Fiber Market Revenue USD Billion Forecast, by Country 2020 & 2033
Table 16: Global Carbon Fiber Market Volume K Tons Forecast, by Country 2020 & 2033
Table 17: U.S. Carbon Fiber Market Revenue (USD Billion) Forecast, by Application 2020 & 2033
Table 18: U.S. Carbon Fiber Market Volume (K Tons) Forecast, by Application 2020 & 2033
Table 19: Canada Carbon Fiber Market Revenue (USD Billion) Forecast, by Application 2020 & 2033
Table 20: Canada Carbon Fiber Market Volume (K Tons) Forecast, by Application 2020 & 2033

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

Note*: In applicable scenarios

Step 3 - Data Sources

Primary Research

Web Analytics
Survey Reports
Research Institute
Latest Research Reports
Opinion Leaders

Secondary Research

Annual Reports
White Paper
Latest Press Release
Industry Association
Paid Database
Investor Presentations

Step 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the Carbon Fiber Market?

The projected CAGR is approximately 8.8%.

2. Which companies are prominent players in the Carbon Fiber Market?

Key companies in the market include Toray Industries, Inc. (Japan), Solvay (Belgium), Nippon Graphite Fiber Co., Ltd. (Japan), TEIJIN LIMITED (Japan), Hexcel Corporation (U.S.), ZOLTEK Corporation (U.S.), HYOSUNG ADVANCED MATERIALS (South Korea), Advanced Composites Inc. (U.S.), Mitsubishi Chemical Carbon Fiber and Composites, Inc. (U.S.), Formosa M Co., Ltd. (South Korea).

3. What are the main segments of the Carbon Fiber Market?

The market segments include Precursor, Tow, Application.

4. Can you provide details about the market size?

The market size is estimated to be USD 3.31 USD Billion as of 2022.

5. What are some drivers contributing to market growth?

Increasing Product Usage in Automotive Industry to Drive Market Growth.

6. What are the notable trends driving market growth?

Research Focusing on Product Manufacturing from Non-Conventional Raw Materials to Create Lucrative Growth Opportunities.

7. Are there any restraints impacting market growth?

High Cost of the Product to Hinder Market Growth.

8. Can you provide examples of recent developments in the market?

December 2022- Solvay collaborated with Trillium on bio-based acrylonitrile to produce carbon fiber for automotive, aerospace, consumer goods, and energy applications.

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850, USD 5850, and USD 6850 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in USD Billion and volume, measured in K Tons.

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "Carbon Fiber Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the Carbon Fiber Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the Carbon Fiber Market?

To stay informed about further developments, trends, and reports in the Carbon Fiber Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.

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