United States Carbon Fiber Market 2025 | Growth Drivers, Key Players & Global Investment Opportunities

Market Size and Growth

Carbon Fiber Market reached USD 21,849.45 million in 2024 and is expected to record significant growth by reaching up to USD 31,065.98 million by 2031, growing at a CAGR of 8.5% during the forecast period (2024-2031).

Key Development:

United States: Recent Industry Developments

✅ August 1, 2025 - Toray CMA received funding from the Japan Bank for International Cooperation (JBIC) to manufacture and sell carbon fiber for high-pressure gas tanks, specifically used in hydrogen-powered fuel cell vehicles (FCVs).

✅ July 13, 2023 - Toray Composite Materials America (CMA) announced a major expansion of its carbon fiber facility in Spartanburg, South Carolina. The 30,000 square foot expansion will increase carbon fiber capacity by 3,000 metric tons annually starting in 2025, targeting clean energy applications such as hydrogen tanks and pressure vessels.

✅ October 6, 2022 - Toray CMA invested $15 million to double the production capacity of its high-performance TORAYCATM T1100 carbon fiber at its Decatur, Alabama plant. This upgrade supports defense applications and reduces lead times for next-generation military platforms.

Japan: Recent Industry Developments

✅ February 21, 2025 - Toray Industries announced that five of its group companies will exhibit at JEC World 2025 in Paris. The showcased technologies include TORAYCATM carbon fiber, advanced towpreg, high-performance thermoset composite materials, and CetexTM thermoplastic composites, emphasizing innovation in composites.

✅ October 4, 2023 - Toray announced plans to expand its French subsidiary, Toray Carbon Fibers Europe's production facilities for medium- and high-modulus carbon fibers. The Abidos plant expansion will increase annual capacity from 5,000 metric tons to 6,000 metric tons, with production expected to start in 2025.

✅ July 13, 2023 - Toray Industries expanded its carbon fiber facility in Spartanburg, South Carolina, adding 30,000 square feet and increasing capacity by 3,000 metric tons annually to meet the growing demand for clean energy solutions.

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Carbon Fiber is a strong, lightweight material made from thin strands of carbon atoms bonded in a crystalline structure. It offers high tensile strength, low weight, and excellent corrosion resistance, making it ideal for aerospace, automotive, sporting goods, and construction applications where performance and durability are critical.

Recent Mergers and Acquisitions

United States: Recent M&A Activity

✅ June 2, 2025 - Dow Inc. agreed to sell its 50% stake in DowAksa Advanced Composites Holdings to Aksa, a subsidiary of Turkey's Akkök Holding, for $125 million. This divestment aligns with Dow's strategy to focus on core downstream operations.

✅ January 13, 2025 - Spirit AeroSystems announced the sale of Fiber Materials Inc. (FMI) to Tex Tech Industries for $165 million in cash. FMI specializes in high-temperature materials and reinforced composites, with applications in defense and aerospace sectors.

Japan: Recent M&A Activity

✅ February 26, 2024 - SGL Carbon, a German carbon fiber specialist, announced it would review strategic options for its Carbon Fibers business unit, including a potential partial or complete sale. The company is in the early stages of this process.

Key Players:

Solvay, Toray Industries, TEIJIN LIMITED, SGL Carbon, ZHONGFU SHENYING CARBON FIBER CO., LTD., Mitsubishi Chemical Holdings Corporation, BASF SE, Hexcel Corporation, Formosa Plastics and DowAksa Advanced Composites Holdings BV.

Growth Forecast Projected:

The Carbon Fiber Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Carbon Fiber Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

By Material: Petroleum Pitch, Polyacrylonitrile, Rayon, Bio-Based and Others

By Modulus: Standard, Intermediate and High

By Tow Size: Small Tow and Large Tow

By Application: Automotive Drive Shafts, Bike Frames, Aircraft Wings, Tubing, Containers, Propeller Blades, Car Components and Others

By End-User: Wind Energy, Automotive, Construction, Aerospace & Defense, Sports, Marine, Electrical & Electronics and Others

Regional Analysis for Carbon Fiber Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Carbon Fiber producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Carbon Fiber revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Carbon Fiber Market?

A: In 2024, the Carbon Fiber Market was valued at USD 21,849.45 million, reflecting its strong industry presence.

Q2: How large is the Carbon Fiber Market expected to be by 2031?

A: By 2031, industry forecasts suggest the Carbon Fiber Market will grow to around USD 31,065.98 million, demonstrating significant expansion.

Q3: What is the growth rate of the Carbon Fiber Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 8.5% during the forecast period from 2024 to 2031.

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