Carbon Fiber Market Growth, Demand, Trends, Analysis, Business Competitive and Future Opportunities 2034
Carbon Fiber Market Growth, Size, Trends Analysis - By Raw Material, By Application, By Tow Size - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Mar-2025 | Report ID: CHEM2523 | Pages: 1 - 272 | Formats*: |
| Category : Chemical & Materials | |||
Carbon Fiber Market Introduction and Overview
According to SPER Market Research, the Global Carbon Fiber Market is estimated to reach USD 18.47 billion by 2034 with a CAGR of 11.19%.
The report includes an in-depth analysis of the Global Carbon Fiber Market, including market size and trends, product mix, Applications, and supplier analysis.
The market for carbon fiber is expanding significantly because of its high strength-to-weight ratio, resistance to corrosion, and adaptability to a variety of applications in wind energy, sports equipment, automotive, and aerospace. Key factors driving market expansion include growing renewable energy initiatives and the need for lightweight materials in fuel-efficient cars and airplanes. Further encouraging adoption are cost reductions brought about by improvements in production methods. However, obstacles to wider use include expensive initial production costs, intricate manufacturing procedures, and recycling concerns. Further market penetration necessitates advances in cost-effective and sustainable production processes because to limited raw material availability and reliance on particular precursor materials.
By Raw Material Insights: Carbon Fiber is classified into two categories based on Raw Material: PAN Based, Pitch Based. The market leader with the fastest and biggest revenue share was the polyacrylonitrile (PAN) sector. The need for PAN-based carbon fiber is being driven by the automotive industry's growing move toward electric vehicles (EVs). It is anticipated that the pitch portion would expand considerably. Pitch-based carbon fiber is becoming more and more in demand due to the industrial sector, which includes electronics and construction.
By Application Insights: The market for Carbon Fiber is segmented based on Applications, including Automotive, Aerospace & Defense, Wind Turbines, Sports/Leisure, Molding & Compound, Construction and Pressure Vessel. The market was dominated by the aerospace and defense sector. The need for carbon fiber in the aerospace industry is being driven by rising expenditure in space exploration and next-generation aircraft. The application of wind turbines is anticipated to expand at the quickest CAGR. The need for wind energy infrastructure is being driven by the growing emphasis on renewable energy sources worldwide to fight climate change and lower carbon emissions.
By Tow Size Insights: The market for Carbon Fiber is divided based on Tow Size, including small tow, Large Tow. The market was led by the little tow. The market is expanding because to growing acceptance in the automotive sector, especially in high-performance and luxury automobiles where mechanical strength and weight reduction are critical factors. The market for large tows is expanding rapidly. The two major areas are driven by the wind energy industry, where the development of longer, more durable turbine blades depends heavily on the strength and cost-effectiveness of the material.
By Regional Insights: The market for carbon fiber is dominated by North America. The need for carbon fiber composites has grown as a result of North America's increasing investments in EVs and lightweight transportation options. These materials help EVs weigh less overall and use less energy. A favorable environment for the growth of the carbon fiber market in the region is ensured by the ongoing advancements in material science and government programs that support clean energy and green technologies.
Market Competitive Landscape
The majority of major producers are concentrating on strategic alliances, acquisitions, and the introduction of new products in order to expand their product lines, increase their market share, and obtain a competitive advantage over other major players. Some of the key market players are A&P Technology Inc., Anshan Sinocarb Carbon Fiber Co. Ltd, DowAksa USA LLC, Formosa Plastics Corporation, Hexcel Corporation, Holding company Composite, Hyosung Advanced Materials, Jiangsu Hengshen Co. Ltd, Mitsubishi Chemical Corporation, Nippon Graphite Fiber Co. Ltd.
Recent Developments:
- In February 2025, Flitedeck, a completely integrated smart handlebar for high-end cycling, was developed, based to a wired article. Fitness tracking, crash detection, and smartphone connectivity are all integrated into this device's stylish carbon-fiber handlebar design.
- In September 2024, Lavoisier Composites' environmentally conscious carbon composite, Carbonium, became popular among jewelers and watchmakers.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Raw Material, By Application, By Tow Size. |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa. |
| Companies Covered | A&P Technology Inc., Anshan Sinocarb Carbon Fiber Co. Ltd, DowAksa USA LLC, Formosa Plastics Corporation, Hexcel Corporation, Holding company Composite, Hyosung Advanced Materials, Jiangsu Hengshen Co. Ltd, Mitsubishi Chemical Corporation, Nippon Graphite Fiber Co. Ltd. |
Key Topics Covered in the Report
- Global Carbon Fiber Market Size (FY’2021-FY’2034)
- Overview of Global Carbon Fiber Market
- Segmentation of Global Carbon Fiber Market By Raw Material (PAN Based, Pitch Based)
- Segmentation of Global Carbon Fiber Market By Application (Automotive, Aerospace & Defense, Wind Turbines, Sports/Leisure, Molding & Compound, Construction, Pressure Vessel)
- Segmentation of Global Carbon Fiber Market By Tow Size (small tow, Large Tow)
- Statistical Snap of Global Carbon Fiber Market
- Expansion Analysis of Global Carbon Fiber Market
- Problems and Obstacles in Global Carbon Fiber Market
- Competitive Landscape in the Global Carbon Fiber Market
- Details on Current Investment in Global Carbon Fiber Market
- Competitive Analysis of Global Carbon Fiber Market
- Prominent Players in the Global Carbon Fiber Market
- SWOT Analysis of Global Carbon Fiber Market
- Global Carbon Fiber Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Carbon Fiber Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Carbon Fiber Market
7. Global Carbon Fiber Market, By Raw Material 2021-2034 (USD Million)
7.1. PAN Based7.2. Pitch Based
8. Global Carbon Fiber Market, By Application 2021-2034 (USD Million)
8.1. Automotive8.2. Aerospace & Defense8.3. Wind Turbines8.4. Sports/Leisure8.5. Molding & Compound8.6. Construction8.7. Pressure Vessel
9. Global Carbon Fiber Market, By Tow Size 2021-2034 (USD Million)
9.1. Small Tow9.2. Large Tow
10. Global Carbon Fiber Market, 2021-2034 (USD Million)
10.1. Global Carbon Fiber Market Size and Market Share
11. Global Carbon Fiber Market, By Region, 2021-2034 (USD Million)
11.1. Asia-Pacific
11.1.1. Australia11.1.2. China11.1.3. India11.1.4. Japan11.1.5. South Korea11.1.6. Rest of Asia-Pacific
11.2. Europe
11.2.1. France11.2.2. Germany11.2.3. Italy11.2.4. Spain11.2.5. United Kingdom11.2.6. Rest of Europe
11.3. Middle East and Africa
11.3.1. Kingdom of Saudi Arabia11.3.2. United Arab Emirates11.3.3. Qatar11.3.4. South Africa11.3.5. Egypt11.3.6. Morocco11.3.7. Nigeria11.3.8. Rest of Middle-East and Africa
11.4. North America
11.4.1. Canada11.4.2. Mexico11.4.3. United States
11.5. Latin America
11.5.1. Argentina11.5.2. Brazil11.5.3. Rest of Latin America
12. Company Profile
12.1. A&P Technology Inc.
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. Anshan Sinocarb Carbon Fiber Co. Ltd
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. DowAksa USA LLC
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. Formosa Plastics Corporation
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. Hexcel Corporation
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. Holding company Composite
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. Hyosung Advanced Materials
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. Jiangsu Hengshen Co. Ltd
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. Mitsubishi Chemical Corporation
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. Nippon Graphite Fiber Co. Ltd
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Carbon Fiber Market is projected to reach USD 18.47 billion by 2034, growing at a CAGR of 11.19% during the forecast period.
Carbon Fiber Market grew in Market size from 2025. The Market is expected to reach USD 18.47 billion by 2034, at a CAGR of 11.19% during the forecast period.
Carbon Fiber Market CAGR of 11.19% during the forecast period.
You can get the sample pages by clicking the link - Click Here
Carbon Fiber Market size is USD 18.47 billion from 2025 to 2034.
Carbon Fiber Market is covered By Product, By Function, By Application, By End-User.
The North America is anticipated to have the highest Market share in the Carbon Fiber Market.
The key players in the Market include Companies Covered A&P Technology Inc., Anshan Sinocarb Carbon Fiber Co. Ltd, DowAksa USA LLC, Formosa Plastics Corporation, Hexcel Corporation, Holding company Composite, Hyosung Advanced Materials, Jiangsu Hengshen Co. Ltd, Mitsubishi Chemical Corporation, Nippon Graphite Fiber Co. Ltd.
The market for carbon fiber is expanding significantly because of its high strength-to-weight ratio, resistance to corrosion, and adaptability to a variety of applications in wind energy, sports equipment, automotive, and aerospace. Key factors driving market expansion include growing renewable energy initiatives and the need for lightweight materials in fuel-efficient cars and airplanes.
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