Carbon Fiber, Growth, Opportunity, Forecast, Global Market Report 2025 to 2034

Carbon Fiber

What Is The Growth Projection For The Carbon Fiber Market?

The carbon fiber market has witnessed robust growth in recent years, escalating from $5.1 billion in 2024 to $5.57 billion in 2025, with a compound annual growth rate (CAGR) of 9.3%. This impressive expansion can be attributed to a myriad of factors, including aerospace and defense applications, wind energy sector growth, and expanding industrial applications.

Looking forward, the market size is predicted to surge, reaching $7.96 billion by 2029, with a CAGR of 9.3%. Continued demand in aerospace and defense, increased electric vehicle production, advancements in renewable energy, and innovations in sports equipment are key facilitators of this growth projection. Key trends influencing the forecast period include advancements in recycling technologies, rise in electric vehicle adoption, and a focus on sustainable sourcing and production.

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What Is Driving The Growth Of The Carbon Fiber Market?

The burgeoning automotive industry is a pivotal contributor to the growth of the carbon fiber market. A myriad of factions involved in the design, development, manufacture, marketing of motor vehicles are driving this growth. Carbon fiber, known for its weight reduction and high-strength properties, is extensively used in automotive industries to enhance fuel efficiency and overall performance. Saliently, Asia Automotive Analysis reported an 8.5% increase in South Korea’s automobile production to 3,756,491 units in 2022, thus, fostering the carbon fiber market growth.

What Major Segments Exist In The Carbon Fiber Market?

1) By Type: Virgin Fiber (VCF), Recycled Carbon Fiber (RCF).
2) By Raw Material: Polyacrylonitrile (PAN), Petroleum Pitch, Rayon.
3) By Tow: Large Tow, Small Tow.
4) By Application: Composite Materials, Textiles, Microelectrodes, Catalysis.
5) By End-Users: Aerospace And Defense, Automotive, Wind Energy, Pipes And Tanks, Sporting Goods, Other End-Users.

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Who Are The Major Players In The Carbon Fiber Market?

Several esteemed companies operating in the carbon fiber market include Toray Industries Inc., Solvay S.A., Nippon Graphite Fiber Co. Ltd., Teijin Limited, Hexcel Corporation, Hyosung Advanced Materials Corp., Mitsubishi Chemical Carbon Fiber and Composites Inc., Formosa M Co. Ltd., DowAksa, SGL Carbon SE, Zoltek Corporation, Zhongfu Shenying Carbon Co. Ltd., and Jiangsu Hengshen Co. Ltd.

What Emerging Trends Are Visible In The Carbon Fiber Market?

Innovative technologies are an emerging trend in the carbon fiber market. For instance, Asahi Kasei Corporation, a Japan-based chemical company, developed an economical, high-quality carbon fiber recycling technology. This technology aims to utilize recycled carbon fiber from automobiles to manufacture carbon fiber-reinforced plastic (CFRP) or carbon fiber-reinforced thermoplastic (CFRTP). This will facilitate weight reduction and energy saving in vehicles.

Which Region Holds The Largest Market Share In The Carbon Fiber Industry?

In 2024, Western Europe was the largest region in the carbon fiber market. Other significant regions in the industry encompass Asia-Pacific, Eastern Europe, North America, South America, Middle East, and Africa.

What Does The Carbon Fiber Market Report 2025 Offer?

Carbon fiber is a lightweight, powerful synthetic fiber created by carbonizing acrylic fiber at high temperatures. Predominantly used in industries requiring high rigidity, low weight, and high conductivity, it is employed in the creation of car bodies, aircraft parts, fishing rods, and equipment such as golf club shafts, and tennis rackets. The Carbon Fiber Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.

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