Carbon Fiber Market Industry Analysis by Sourcing Strategy, Scope, Demand and Forecast to 2032

Allied Market Research has published a comprehensive report on the global carbon fiber market, analyzing trends by raw material, type, form, end-use industry, and region. In 2022, the market was valued at $5.5 billion and is projected to reach $16.0 billion by 2032, growing at a CAGR of 11.4% from 2023 to 2032.

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Key Market Segments:

By Raw Material:

- PAN-based carbon fiber
- Pitch-based & Rayon-based carbon fiber

By Type:

- Continuous
- Long
- Short

By Form:

- Composite
- Non-composite

By End-Use Industry:

- Aerospace & Defense, Automotive, Wind Turbines, Sports/Leisure, Pressure Vessels, Civil Engineering, Marine, Consumer Goods, Sailing/Yachts, and Others

By Region:

- North America, Europe, Asia-Pacific, LAMEA

Market Drivers & Opportunities:

Drivers:

- Increased adoption in automotive for lightweighting
- Government regulations on emissions

Opportunities:

- Expanding application in the medical industry

Restraints:

- Long production cycles
- Limited availability of raw materials

Segment Insights:

By Type:

- Continuous carbon fiber led the market in 2022, accounting for over 80% of global revenue. This segment is also expected to grow the fastest (CAGR 11.5%), driven by its superior corrosion resistance and durability.

By Raw Material:

- PAN-based carbon fiber dominated with over 90% share in 2022 and will continue leading due to its favorable properties such as high tensile strength and lightweight, especially in aerospace applications.

By Form:

- Composite carbon fiber held more than 90% market share in 2022 and is forecasted to maintain its dominance, thanks to its superior mechanical performance in structural applications.

Regional Outlook:

- Europe led the global market in 2022, with over one-third market share, attributed to Germany's strong R&D and advanced manufacturing capabilities.

- Asia-Pacific is expected to witness the fastest CAGR of 11.9%, driven by rapid industrialization and rising investments in aerospace, automotive, and renewable sectors.

Key Players:

- Solvay
- TEIJIN LIMITED
- TORAY INDUSTRIES, INC.
- ZOLTEK
- Mitsubishi Chemical Group
- DowAksa
- Nippon Steel Corporation
- Formosa Europe
- SGL Carbon

These companies are actively engaging in product innovations, partnerships, and regional expansions to strengthen their global presence and market competitiveness.

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