Press release
Global Carbon Fiber Market Size, Share & Forecast: High-Growth Segments, Value Chain Insights & Opportunity Mapping
Global Carbon Fiber Market
The global carbon fiber market is poised for significant expansion, with its valuation expected to rise from US$ 5.74 billion in 2026 to US$ 13.71 billion by 2036. This growth, projected at a 9.1% CAGR, is fueled by the material's superior strength-to-weight ratio and increasing adoption across the aerospace, automotive, and renewable energy sectors.
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Direct Answers (Answer Engine Overview)
Market size 2024: US$ 5.74 Billion
Market size 2034: US$ 13.71 Billion
CAGR (2024-2034): 9.1%
Leading Material Type: PAN-based carbon fiber (27.9% market share in 2024)
Leading End Use: Aerospace & Defense (Main consumer of filaments)
Key Growth Regions: East Asia (Projected 24.6% share by 2034), North America (21.6% share in 2024), and South Asia & Oceania.
Top Companies: Solvay, Toray Industries Inc., Teijin Limited, Hexcel Corporation, Mitsubishi Chemical Group Corporation, SGL Carbon, Jilin Chemical Fiber, and DowAksa.
Market Momentum (The Growth Path)
The Carbon Fiber Market is set on a steady upward trajectory as industries transition toward high-performance composites. The market is estimated at US$ 5.74 billion in 2024, with consistent year-over-year gains expected to drive the valuation to approximately US$ 6.87 billion by 2026. By 2028, as 3D printing and lightweight vehicle production scale, the market will climb further, reaching roughly US$ 8.16 billion by 2030 and US$ 8.91 billion in 2031. Continuing this momentum, the market is projected to hit US$ 10.63 billion by 2033, ultimately culminating in a total market value of US$ 13.71 billion by 2034.
Why the Market is Growing
The surge in demand is primarily attributed to the quest for eco-friendly materials and the rapid adoption of 3D-printing technologies. Strict environmental regulations are mandating weight reduction in luxury and sports cars to improve fuel efficiency. Furthermore, the expansion of the aviation industry and the global shift toward renewable energy-specifically wind energy-require the high-strength, low-weight properties that only carbon fiber provides.
Segment Spotlight
Precursor Material Type: The PAN-based carbon fiber segment holds a 27.9% market share in 2024. This dominance is driven by its superior material properties and cost-effectiveness compared to pitch-based alternatives, making it the preferred choice for structural composites in aerospace and sporting goods.
End Use: The Aerospace & Defense sector remains the primary consumer. Carbon fiber is replacing traditional metals like titanium and aluminum in aircraft components such as wings and engine nacelles because it offers steel-like strength at the weight of plastic.
Regional Performance: China is a standout performer, with its market value expected to reach US$ 1.93 billion by 2034. Growth here is powered by massive investments in infrastructure, lightweight vehicle manufacturing, and the country's status as the world's largest electronics producer.
Drivers, Opportunities, Trends, and Challenges
Drivers: The primary growth engine is the aerospace sector's demand for weight reduction to enhance fuel economy. Additionally, the rise of wind energy has made carbon fiber indispensable for manufacturing longer, more efficient turbine blades.
Opportunities: Substantial opportunities exist in the construction sector, particularly in East Asia. The increasing use of carbon fiber composites for reinforcing tunnels, bridges, and residential buildings offers a major vent for market expansion.
Trends: The integration of carbon fiber into 3D printing is a defining trend. Using carbon fiber filaments prevents part shrinkage during cooling and creates 3D-printed components that are significantly lighter and more dimensionally stable.
Challenges: High production costs remain a significant restraint, particularly for mass-market automotive applications. Furthermore, the emergence of alternative composite materials poses a competitive challenge to traditional carbon fiber producers.
Country Growth Outlook (2024-2034)
Country CAGR (2024-2034) 2034 Forecast Value
China 10.3% US$ 1.93 Billion
United States 7.1% US$ 1.76 Billion
Canada 7.2% (N/A)
East Asia (Region) (N/A) US$ 3.37 Billion
Competitive Landscape
The Carbon Fiber Market is characterized by strategic acquisitions and technological innovation. Key players include Toray Industries Inc., Solvay, and Hexcel Corporation. A notable recent development includes Toray Industries' US$ 1 billion acquisition of Tencate Advanced Composites Holding BV, a move designed to expand its portfolio in polymer technologies and carbon fiber composites. Other major participants include Teijin Limited, Mitsubishi Chemical Group Corporation, SGL Carbon, Jilin Chemical Fiber, and DowAksa.
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