The global carbon fiber market size is projected to grow from US$5.48 billion in 2024 to US$17.08 billion by 2035, representing a CAGR of 10.89%, during the forecast period, 2024-2035.

The Carbon Fiber Market Report Segments the Industry by Raw Material (Polyacrylonitrile (PAN) and Petroleum Pitch and Rayon), Fiber Type (Virgin Fiber (VCF), Recycled Carbon Fiber (RCF), and Others), Application (Composite Materials, Textiles, and More), End-User Industry (Aerospace and Defense, Alternative Energy, Automotive, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Carbon Fiber Market skyrocketing to USD 29.49 billion by 2034, Discover breakthrough applications in aerospace, automotive & 3D printing revolutionizing industries

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Carbon Fiber Market Size 2025-2029

The carbon fiber market size is valued to increase USD 2.65 billion, at a CAGR of 6.5% from 2024 to 2029. Increasing use of carbon fibers in aerospace and defense sector will drive the carbon fiber market.

Major Market Trends & Insights

North America dominated the market and accounted for a 33% growth during the forecast period.
By End-user - Aerospace and defense segment was valued at USD 3.73 billion in 2023
By Raw Material - PAN-based segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 56.81 million
Market Future Opportunities: USD 2654.80 million
CAGR : 6.5%
North America: Largest market in 2023

Market Summary

The market represents a dynamic and continually evolving industry, characterized by advancements in core technologies and applications. With a growing focus on lightweight and strong materials, carbon fibers have gained significant traction, particularly in the aerospace and defense sector, which currently holds over 40% market share. This trend is driven by the increasing demand for fuel efficiency and improved performance in these industries.
However, the market faces challenges from substitutes, such as aluminum and titanium. Moreover, the adoption of carbon fiber recycling technologies is gaining momentum, presenting opportunities for market growth. According to recent studies, the carbon fiber recycling market is projected to reach a value of 1.5 billion USD by 2026, reflecting the industry's ongoing evolution.

What will be the Size of the Carbon Fiber Market during the forecast period?

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How is the Carbon Fiber Market Segmented and what are the key trends of market segmentation?

The carbon fiber industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Aerospace and defense
  Sports and leisure
  Wind energy
  Automotive
  Others


Raw Material

  PAN-based
  Pitch-based
  Rayon-based


Type

  Virgin Fiber (VCF)
  Recycled Carbon Fiber (RCF)


Application

  Composite Materials
  Textiles
  Microelectrodes
  Catalysis


Tow Size

  Small Tow
  Large Tow


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By End-user Insights

The aerospace and defense segment is estimated to witness significant growth during the forecast period.

Carbon fiber's adoption in various industries, particularly in aerospace and defense, continues to expand due to its desirable properties. These include lightweight design principles, superior tensile strength, and exceptional corrosion and fatigue resistance. The high strength-to-weight ratio of carbon fiber makes it a preferred choice over metals like aluminum and titanium alloys. In the aerospace sector, carbon fiber significantly contributes to reducing the overall weight of aircraft, enhancing fuel efficiency and improving overall performance. Moreover, carbon fiber's thermal properties evaluation and fatigue life prediction are crucial for its application in high-performance structures. Reinforcement fiber types, such as carbon and glass, are subjected to rigorous testing, including surface treatment methods, fiber volume fraction, and composite material properties assessment.

Epoxy resin systems and microstructure characterization play a vital role in the manufacturing process. The industry anticipates a significant increase in demand for carbon fiber, with an estimated 20% growth in the automotive sector and a 15% surge in the wind energy market. Furthermore, the development of advanced composite structures, such as carbon nanotube composites and graphene-enhanced composites, is expected to revolutionize the market. Manufacturing processes, including the pultrusion process design, lamination process control, and stress-strain relationships analysis, are continually evolving to optimize production efficiency and enhance product quality. Mechanical testing standards, cure cycle optimization, and damage tolerance analysis are crucial in ensuring the durability and reliability of carbon fiber products.

Carbon fiber's versatility extends to various applications, from automotive components to sports equipment, and its demand is expected to grow steadily in the coming years. The industry's continuous innovation and evolution reflect the market's dynamic nature, making it an exciting and promising field for businesses and investors alike.

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The Aeros

The Recycled Carbon Fiber Market Report Segments the Industry by Product Type (Chopped Recycled Carbon Fiber and Milled Recycled Carbon Fiber), Source (Aerospace Scrap, and More), Recycling Process (Pyrolysis, and More), Matrix Compatibility (Thermoset Composites and Thermoplastic Composites), End-User Industry (Automotive, Aerospace and Defense, and More), and Geography (Asia-Pacific, North America, Europe, and More).

The global carbon fiber market size was worth more than USD 5.23 billion in 2025 and is poised to witness a CAGR of over 10.5%, crossing USD 14.19 billion revenue by 2035, impelled by rising product demand in the defense industry.

The Carbon Fiber Market size is expected to reach USD 18.9 billion in 2034 registering a CAGR of 13.1%. This Carbon Fiber Market research report highlights market share, competitive analysis, demand dynamics, and future growth.

The Activated Carbon Fiber Report is Segmented by Raw Material (Natural and Synthetic), Application (Purification, Chemical Separation and Catalysis, Protective Clothing, Medical, Super Capacitors, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

The global Carbon Fiber market has grown remarkably to reach approximately 157 thousand tonnes in 2024 and is expected to grow at an amazing CAGR of 9.68% during the forecast period until 2035.

Carbon Fiber Market size is expected to reach USD 10.33 Bn by 2032, from USD 5.69 Bn in 2025, exhibiting a CAGR of 8.9% during the forecast period.

Carbon Fiber Market was worth USD 6.4 billion in 2024, and forecast to touch USD 14.9 billion in 2032, growing at a CAGR of 11.1% from 2025-2032

The Carbon Fiber Market will grow from USD 7.78 Billion in 2024 to USD 11.99 Billion by 2030 at a 7.47% CAGR.

The Europe Carbon Fiber Market report segments the industry into Raw Material (Polyacrtlonitrile (PAN), Petroleum Pitch and Rayon), Type (Virgin Fiber (VCF), Recycled Fiber (RCF)), Application (Composite Materials, Textiles, Microelectrodes, and more), End-User Industry (Aerospace & Defense, Alternative Energy, Automotive, and more), and Geography (Germany, United Kingdom, Italy, and more).

The U.S. Carbon Fiber Marketsize was valued at USD 953.1 USD Million in 2023 and is projected to reach USD 1601.95 USD Million by 2032, exhibiting a CAGR of 7.7 % during the forecast period. Recent developments include: May 2022 - Solvay expanded its SolvaLite portfolio and invested in the Xencor LFT production unit to include prepregs for automotive body panels. SolvaLite 714 Prepregs, is a new generation of unidirectional woven fabric and carbon fiber products portfolio pre-saturated with epoxy resin SolvaLite 714., June 2021 – Zoltek Companies, Inc. increased its carbon fiber production capacity of its plant located in Guadalajara, Mexico. The company's plant would produce 13,000 metric tons of product, resulting in the total annual production of its PX35 fiber reaching 28,000 metric tons. The move is anticipated to help the company strengthen its position as a leader in the market.. Key drivers for this market are: Growing Demand for Better-Quality Mining Lubricants Drives Market Growth. Potential restraints include: High Product Manufacturing Cost to Limit Market Growth . Notable trends are: Emerging Automated Lubrication System Provides Beneficial Market Opportunities.

Discover the Global Carbon Fiber Market's anticipated 12% CAGR growth from 2025-30, highlighting trends and opportunities in this dynamic industry.

Carbon Fiber Market is projected to reach USD 15.30 billion by 2035, growing at a CAGR of 14.44% from 2025-2035.

The Activated Carbon Fiber Market is estimated to be valued at USD 4.2 billion in 2025 and is projected to reach USD 6.8 billion by 2035, registering a compound annual growth rate (CAGR) of 5.0% over the forecast period.

The Carbon Fiber Marketsize was valued at USD 3.31 USD Billion in 2023 and is projected to reach USD 5.97 USD Billion by 2032, exhibiting a CAGR of 8.8 % during the forecast period. Recent developments include: December 2022- Solvay collaborated with Trillium on bio-based acrylonitrile to produce carbon fiber for automotive, aerospace, consumer goods, and energy applications., September 2022- Solvay launched LTM 350, a next-generation epoxy prepreg carbon fiber tooling material designed to deliver significant cost and time savings for the aerospace, industrial, automotive and race car markets., July 2021- Toray Industries Inc. completed the acquisition of Tencate Advanced Composites Holding BV, a Dutch producer and distributor of carbon fiber composite materials. TenCate's parent firm, Koninklijke Ten Cate BV, agreed to sell the business to Toray for €930 million (USD 1 billion), including net debt. With this acquisition, the company would be able to provide a wider product lineup, such as polymer technologies and carbon fiber., February 2021 – Teijin Limited launched Tenax BM (beam series) and Tenax PW (power series) brands of carbon fiber intermediate materials for sports applications. This launch will help the company to maximize power and speed due its exceptional durability and toughness.. Key drivers for this market are: Increasing Product Usage in Automotive Industry to Drive Market Growth. Potential restraints include: High Cost of the Product to Hinder Market Growth . Notable trends are: Research Focusing on Product Manufacturing from Non-Conventional Raw Materials to Create Lucrative Growth Opportunities .

Carbon Fiber Market size is expected to be worth around USD 9.2 Billion by 2034, from USD 4.4 Billion in 2024, at a CAGR of 7.7%

According to Cognitive Market Research, the global carbon fiber marketsize is USD 7.1 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031. Market Dynamics of Carbon Fiber Market Key Drivers for Carbon Fiber Market Increasing use of carbon fiber in the military and aviation sectors- The two main industries that employ carbon fiber the most are aviation and security, which also have the biggest audience and have additionally added a number of novel items. Because carbon fibers have exceptional durability, toughness, and security, they are a great option for a wide range of aviation and military applications. Within the military, carbon fiber-reinforced polymers, or CFRP, are utilized for military aquatic, missile defense, and ground defense applications. Thus, increasing carbon fiber use in the aerospace and defense industries is likely to support market expansion. The integration of environmental efforts and regulations has accelerated the use of carbon fiber in numerous industries. Key Restraints for Carbon Fiber Market Introduction of the Carbon Fiber Market Carbon fiber is made of powerful, flexible carbon translucent strands, which are effectively lengthy strings of carbon atoms bound and connected. The fibers are employed in numerous methods to produce superior structural components since they are incredibly rigid, robust, and lightweight. Market expansion is being driven by a decrease in greenhouse gases and an increase in the popularity of portable items from renewable electricity, automobiles, and aviation and military sectors. Yet, the market's expansion is also being fueled by the developing nation's expanding construction sector. Additionally, as consumer electronics get more sophisticated and smaller, the need for carbon fiber material is growing, which is expected to propel market expansion.