Get the latest insights on price movement and trend analysis of Carbon Fibre in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Get the latest insights on price movement and trend analysis of Carbon Fibre Reinforced Plastic in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

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Carbon Fiber Market Size 2025-2029

The carbon fiber market size is forecast to increase by USD 2.65 billion at a CAGR of 6.5% between 2024 and 2029.

The market is experiencing significant growth, driven primarily by the increasing adoption of carbon fibers in the aerospace and defense sectors. The lightweight and high-strength properties of carbon fibers make them an ideal choice for manufacturing aircraft components and military vehicles. The aerospace industry is expected to remain the largest consumer of carbon fibers, accounting for over 60% of the market share. Another key trend in the market is the advancement of recycling technologies. These technologies enable the reuse of carbon fiber waste, reducing production costs and promoting sustainability.
The recent data indicates that recycled carbon fibers can be used in various applications, including automotive and construction industries, further expanding the market's scope. However, the market faces challenges from substitutes, particularly from traditional materials such as aluminum and titanium, which offer similar benefits at lower costs. Despite carbon fibers' advantages, their high production costs and complex manufacturing processes limit their widespread adoption in some industries. Additionally, the high initial investment required for setting up carbon fiber production facilities can deter potential entrants, creating a competitive landscape. Companies seeking to capitalize on the market opportunities must focus on cost reduction through innovation and collaboration with industry partners to overcome these challenges effectively.

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

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The market dynamics continue to evolve, driven by the ongoing research and development in advanced materials. Structural components, such as fiber tow, play a pivotal role in delivering high tensile strength and modulus of elasticity. Surface finish and resin system selection impact thermal conductivity and thermal stability. Corrosion resistance and lightweight properties make carbon fiber composites a preferred choice in various sectors, including aerospace, automotive, and sports equipment. Advanced manufacturing processes, like 3D printing and autoclave curing, enable complex part designs and enhance mechanical properties. Impact resistance, flexural strength, and laminate manufacturing are crucial factors in ensuring structural integrity.
High-performance carbon fiber composites offer improved fatigue resistance and fuel efficiency through resin infusion and filament winding. Continuous improvements in manufacturing processes, such as fiber orientation, finite element analysis, non-destructive testing, design optimization, material characterization, and performance enhancement, contribute to the evolving market landscape. Carbon nanotubes and fiber reinforcement further enhance the electrical conductivity and shear strength of carbon fiber composites. The ongoing quest for weight reduction and improved quality control fuels the demand for carbon fiber composites in diverse applications. The market's continuous dynamism reflects the industry's commitment to innovation and sustainability.

How is this Carbon Fiber Industry segmented?

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, renowned for its low weight and exceptional mechanical properties, has become a preferred choice in various industries, particularly in aerospace and defense. The high tensile strength, corrosion and fatigue resistance, and superior chemical properties of carbon fiber make it an ideal material for manufacturing structural components. Carbon nanotubes, a variant of carbon fiber, further enhance its properties, including electrical conductivity and thermal conductivity. The manufacturing process involves the use of a resin system and fiber tow, which are then subjected to autoclave curing or additive manufacturin

The global carbon fibre industry attained a value of about USD 3821.39 Million in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 11.90% to reach USD 11763.11 Million by 2034.

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

According to Cognitive Market Research, the global Small tow carbon fibre market size will be USD XX billion in 2023 and will expand at a compound annual growth rate (CAGR) of 7.20% from 2023 to 2030.

The demand for Small tow carbon fibres is rising due to the increasing demand across industries and technological advancements.
Demand for 3K remains higher in the Small tow carbon fibre market.
The Industrial category held the highest Small tow carbon fibre market revenue share in 2023.
North American Small tow carbon fibre will continue to lead, whereas the Asia-Pacific Small tow carbon fibre market will experience the most substantial growth until 2030.

Growing Demand in Automotive Light weighting to Provide Viable Market Output

One key driver propelling the small tow carbon fiber market is the increasing demand for lightweight materials in the automotive industry. As automakers strive to enhance fuel efficiency and reduce carbon emissions, small tow carbon fibres are being employed to manufacture lightweight yet strong components. These fibres contribute to the development of structurally robust and lightweight automotive parts, leading to improved fuel efficiency and overall performance. The automotive sector's focus on sustainability and stringent regulations promoting lightweight materials establishes small tow carbon fibre as a crucial solution, fostering its demand in the market.

In 2022, Hexcel Corporation announced that it would showcase its unique portfolio of forged carbon that has been optimized for thermoplastic processing applications when the company exhibits at the American Composite Manufactures Association (ACMA).

(Source:www.hexcel.com/News/News-Releases/3406/hexcel-highlights-the-possibilities-created-by-hextow-carbon-fiber-at-the-2022-a)

Expanding Applications in the Aerospace Sector to Propel Market Growth

Another significant driver for the small tow carbon fiber market is its expanding applications in the aerospace industry. The unique combination of high strength and low weight makes small tow carbon fibres an ideal choice for manufacturing aircraft components. As the aerospace sector continually seeks advanced materials to enhance fuel efficiency and reduce aircraft weight, small tow carbon fibre finds increasing usage in the production of fuselage structures, wings, and other critical components. The aerospace industry's ongoing emphasis on performance, durability, and fuel savings fuels the demand for small tow carbon fibres, driving the market growth.

In 2021, Mitsubishi Chemical Corporation entered with Dymon Co. Ltd., The robot and space development venture. Based on the agreement, MCC provides carbon fiber-reinforced plastic (CFRP) components and thermoplastic materials and technical support.

(Source:www.m-chemical.co.jp/en/news/2021/1211322_7669.html)

Market Dynamics of Small tow carbon fiber

High Production Costs and Limited Scalability to Restrict Market Growth

A significant restraint in the small tow carbon fiber market is the high production costs associated with manufacturing these specialized fibres. The intricate process of synthesizing carbon fibres from precursor materials and the energy-intensive steps involved contribute to elevated production expenses. Additionally, the limited scalability of the production processes poses challenges in achieving economies of scale. High initial investments and operational costs hinder widespread adoption and affordability, restricting market growth. Overcoming these cost-related challenges is essential to make small tow carbon fibres more accessible to a broader range of industries and applications.

Impact of COVID–19 on the Small tow carbon fiber Market

The small tow carbon fiber market experienced significant disruptions due to the COVID-19 pandemic. The pandemic-induced lockdowns and restrictions led to supply chain disruptions, affecting the production and distribution of carbon fibre materials. Reduced manufacturing activities across industries, particularly in automotive and aerospace, resulted in a decline in demand for small tow carbon fibres. Many construction projects were delayed, impacting the demand for carbon fibre in infrastructure applications. Additionally, the financial strain on businesses led to the reevaluation and postponement of capital-intensive projects, further impacting the market. However, the post-pandemic recovery,...

The global carbon fiber market size is expected to reach USD 12.93 Billion by 2028 and register a revenue CAGR of 10.8%. Carbon fiber industry report classifies global market by share, trend, growth and on the basis of raw material, product type, end use, and region | carbon fibres (alternatively CF...

Europe’s Carbon Fibre Market dominance in holding the major market share in 2023, accounting for more than 33% of the global revenue, will expand with a CAGR of 2.24% from 2023 to 2030.

Carbon Fibre Composites Market Outlook

The global carbon fibre composites market size was valued at approximately $20.5 billion in 2023 and is projected to reach $45.2 billion by 2032, growing at a CAGR of 9.1% during the forecast period. This robust growth can be attributed to various factors, including increasing demand from end-user industries such as aerospace, automotive, and wind energy, as well as advancements in manufacturing processes and material technology.

One of the primary growth factors for the carbon fibre composites market is the rising demand in the aerospace and defense sectors. Carbon fibre composites are known for their high strength-to-weight ratio, which makes them ideal for aerospace applications where weight reduction is crucial. Reduced weight contributes to fuel efficiency and lower emissions, aligning with global sustainability goals. Additionally, these materials offer excellent fatigue resistance and durability, making them indispensable in manufacturing aircraft and defense equipment.

The automotive industry is another significant driver of the carbon fibre composites market. With the increasing focus on improving fuel efficiency and reducing emissions, automakers are shifting towards lightweight materials. Carbon fibre composites offer the dual benefits of light weight and high strength, which contribute to enhancing vehicle performance and safety. The push towards electric and hybrid vehicles further amplifies the demand for these composites, as battery efficiency is closely tied to vehicle weight.

Wind energy applications also significantly contribute to the market growth of carbon fibre composites. As the world increasingly turns to renewable energy sources, the demand for wind turbines is on the rise. Carbon fibre composites are used in the construction of wind turbine blades due to their light weight and high stiffness. These properties are critical in achieving longer and more efficient blades, which can capture more wind energy, thereby increasing the overall energy output of wind farms.

The versatility of Carbon Fiber Composite materials extends beyond traditional industries, offering innovative solutions in emerging fields. For instance, in the realm of sports equipment, carbon fiber composites are revolutionizing the design and performance of products. Their lightweight nature and superior strength allow manufacturers to create equipment that enhances athletic performance while reducing the risk of injury. This adaptability of carbon fiber composites is also being explored in the medical field, where their use in prosthetics and orthotics is providing patients with more comfortable and durable solutions. As research continues, the potential applications of carbon fiber composites are expected to expand, further driving market growth.

Regionally, North America and Europe dominate the carbon fibre composites market, thanks to the presence of established aerospace and automotive industries. However, the Asia Pacific region is emerging as a significant market player, primarily due to rapid industrialization and increasing investments in renewable energy projects. Government initiatives promoting clean energy and sustainable practices further propel the demand for carbon fibre composites in this region.

Product Type Analysis

In the carbon fibre composites market, product types are broadly categorized into thermosetting composites and thermoplastic composites. Thermosetting composites are expected to hold a larger market share due to their widespread use in high-performance applications. These composites are cured through a chemical reaction that forms irreversible bonds, providing excellent thermal stability and resistance to deformation under high temperatures. This makes them ideal for aerospace and defense applications, where material performance is critical.

Thermoplastic composites, while having a smaller market share, are growing rapidly. These composites can be reshaped and reprocessed, offering advantages in recyclability and manufacturing flexibility. The automotive industry particularly favors thermoplastic composites for their potential in mass production. The ability to produce complex shapes with shorter cycle times and reduced waste makes them highly attractive for automotive applications. Additionally, ongoing research and development are focused on enhancing the properties of thermoplastic composites, making them more competitive with their the

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).

According to Cognitive Market Research, The Global Woven Carbon Fiber Cloth market size will be USD XX billion in 2023 and will expand at a compound annual growth rate (CAGR) of 8.00% from 2023 to 2030.

The demand for Woven Carbon Fiber Cloths is rising due to the surging deployment of carbon fibre in the automotive industry and the Increasing demand for lightweight vehicles.
Demand for technical textiles remains higher in the Woven Carbon Fiber Cloth market.
The carbon fiber category held the highest Woven Carbon Fiber Cloth market revenue share in 2023.
North American Woven Carbon Fiber Cloth will continue to lead, whereas the Asia Pacific Woven Carbon Fiber Cloth market will experience the most substantial growth until 2030.

Growing Demand in Aerospace Applications to Provide Viable Market Output

The increasing demand for woven carbon fiber cloth is notably driven by its widespread adoption in aerospace applications. In the aerospace industry, where weight reduction, strength, and durability are critical, woven carbon fiber cloth has become a material of choice for manufacturing components such as aircraft structures, interiors, and engine components. The unique combination of high tensile strength, lightweight properties, and resistance to corrosion positions woven carbon fiber cloth as a key enabler for building lighter and more fuel-efficient aircraft.

In April 2022, Archer Aviation Inc. and Hexcel entered a partnership to supply high-performance advanced carbon fiber material. This carbon fiber material would be used for the production of Archer’s aircraft.

(Source: www.hexcel.com/News/News-Releases/3414/archer-aviation-plans-to-work-with-hexcel-to-advance-production-capabilities)

Automotive Lightweighting Initiatives to Propel Market Growth

Woven carbon fiber cloth is experiencing robust growth driven by the automotive industry's intensified focus on lightweighting initiatives. Automakers are increasingly incorporating carbon fibre-reinforced composites, including woven carbon fibre cloth, in the manufacturing of vehicle components and structures. The desire to enhance fuel efficiency, reduce emissions, and improve overall performance is prompting the widespread adoption of carbon fiber materials in the automotive sector. Woven carbon fiber cloth's superior strength-to-weight ratio allows for the creation of lightweight yet structurally sound parts, contributing to advancements in electric vehicles and traditional combustion engine vehicles alike.

In February 2022, Teijin Limited announced its partnership with Fuji Design Co. Ltd, a Japan-based recycled carbon fibre manufacturer, to establish a business for supplying, producing, and commercializing carbon fibre-reinforced plastic products. These products are derived from recycled carbon fibres using carbon fibre with a low environmental impact.

(Source: www.teijin.com/news/2022/02/24/20220224_01.pdf)

Market Dynamics of the Woven Carbon Fiber Cloth

High Production Costs and Limited Scalability to Restrict Market Growth

One of the primary restraints impacting the woven carbon fiber cloth market is the high production costs associated with carbon fiber materials. The manufacturing process involves intricate weaving techniques and the utilization of advanced technologies, contributing to elevated production expenses. Additionally, the raw material cost of carbon fibers, often derived from precursor materials like polyacrylonitrile (PAN) or pitch, further contributes to the overall expense. The intricate production processes, coupled with the cost of high-quality carbon fibre, result in a pricing structure that makes woven carbon fibre cloth significantly more expensive compared to conventional materials.

Impact of COVID-19 on the Woven Carbon Fiber Cloth Market

The COVID-19 pandemic significantly impacted the woven carbon fiber cloth market as the global manufacturing and aerospace industries, key consumers of this material, experienced disruptions. Lockdowns, supply chain interruptions, and reduced operational capacities in response to the pandemic led to delays in the production and shipment of woven carbon fibre products. The aerospace industry, a major market for woven carbon fiber cloth, faced challenges due to travel restrictions and a decrease in demand for new aircraft. Similarly, the automotive industry, another significant consumer, saw disruption...

Global Carbon Fiber Market was valued at USD 7.25 Billion in 2023 and is anticipated to project steady growth in the forecast period with a CAGR of 7.25% through 2029.

The United Kingdom carbon fibre market size attained approximately USD 468.27 Million in 2024. The market is estimated to grow at a CAGR of 4.90% in the forecast period of 2025-2034, reaching a value of around USD 755.53 Million by 2034.

According to Cognitive Market Research, The Global Rayon Based Carbon Fiber market size is USD XX billion in 2023 and will expand at a compound annual growth rate (CAGR) of 9.60% from 2023 to 2030.

The demand for Rayon-based carbon Fiber is rising due to the increasing demand for lightweight and high-performance materials in the automotive and Aerospace industries and the Rising demand from the wind energy sector.
Demand for Long Fiber remains higher in the Rayon-based Carbon Fiber market.
The Aerospace category held the highest Rayon-based carbon Fiber market revenue share in 2023.
North American rayon-based carbon fibre will continue to lead, whereas the Asia-Pacific rayon-based carbon fibre market will experience the most substantial growth until 2030.

Growing Demand for Lightweight Materials in the Automotive Industry to Provide Viable Market Output

The rayon-based carbon fiber market is propelled by the increasing demand for lightweight materials in the automotive sector. As automakers focus on improving fuel efficiency and reducing emissions, rayon-based carbon fibre emerges as a key component for manufacturing lightweight and high-strength automotive parts. The material's excellent mechanical properties contribute to enhanced fuel efficiency, making it a preferred choice for applications such as body panels and structural components, thereby driving the market growth.

April 2022: Hexcel and Archer Aviation Inc. entered into a letter of intent covering a proposed relationship for supplying high-performance carbon fibre material that would be used to manufacture Archer's production aircraft.

(Source: www.hexcel.com/News/News-Releases/3414/archer-aviation-plans-to-work-with-hexcel-to-advance-production-capabilities#:~:text=(%E2%80%9CArcher%E2%80%9D)%20(NYSE,in%20the%20manufacturing%20of%20Archer's)

Expanding Applications in Aerospace Industry to Propel Market Growth

The rayon-based carbon fiber market experiences growth through expanding applications in the aerospace industry. The aerospace sector demands materials with high strength-to-weight ratios, and rayon-based carbon fibre meets these criteria. Its superior strength, coupled with reduced weight, makes it an ideal choice for aircraft components, contributing to fuel efficiency and overall performance. As the aerospace industry continues to advance technologically and seeks materials that offer both strength and lightness, the demand for rayon-based carbon fibre is expected to rise, bolstering market dynamics.

April 2022: Hexcel and Archer Aviation Inc. entered into a letter of intent covering a proposed relationship for supplying high-performance carbon fibre material that would be used to manufacture Archer's production aircraft.

(Source: www.hexcel.com/News/News-Releases/3414/archer-aviation-plans-to-work-with-hexcel-to-advance-production-capabilities#:~:text=(%E2%80%9CArcher%E2%80%9D)%20(NYSE,in%20the%20manufacturing%20of%20Archer's)

Market Dynamics of the Rayon Based Carbon Fiber

High Production CosMarket Dynamics of the Rayon Based Carbon Fiberts and Price Sensitivity to Restrict Market Growth

One key restraint in the rayon-based carbon fiber market is the challenge posed by high production costs. The complex manufacturing process and raw material expenses contribute to elevated production costs, making rayon-based carbon fibre a comparatively costly material. This factor becomes particularly significant in highly price-sensitive markets, limiting the widespread adoption of the material. Efforts to optimize production processes and explore cost-effective alternatives are essential to overcome this barrier and enhance the competitiveness of rayon-based carbon fibre in various industries.

Impact of COVID-19 on the Rayon-Based Carbon Fiber Market

The COVID-19 pandemic has significantly impacted the rayon-based carbon fiber market. The global economic slowdown and disruptions in supply chains led to a contraction in demand for various industries, including automotive and Aerospace, which are key consumers of carbon fibre materials. Lockdowns and restrictions on manufacturing and construction activities further hindered the demand for rayon-based carbon fibre. Additionally, the travel restrictions and economic uncertainties have delayed several projects, affecting the overall market growth. While the pandemic underscored the vulnerability o...

The global carbon fiber composite materials market, valued at $2,131 million in 2025, is projected to experience robust growth, driven by increasing demand across diverse sectors. The 8.6% CAGR from 2019-2033 indicates a significant expansion, fueled by the lightweight yet high-strength properties of these materials, making them ideal for aerospace, automotive, wind energy, and sporting goods applications. Growth is further propelled by advancements in manufacturing processes, leading to cost reductions and improved performance characteristics. Stringent government regulations promoting fuel efficiency and reduced emissions in transportation are also contributing to increased adoption. While raw material costs and complex manufacturing processes present some challenges, ongoing research and development efforts focused on enhancing material properties and expanding applications are mitigating these restraints. The market is segmented by material type (e.g., PAN-based, pitch-based), application (aerospace, automotive, wind energy), and region (North America, Europe, Asia-Pacific). Key players, including Toray, Mitsubishi Chemical, Teijin, and Hexcel, are investing heavily in research and expansion to capitalize on the market's growth potential. The competitive landscape is characterized by both established industry giants and emerging players, particularly in the Asia-Pacific region. This region is expected to exhibit the highest growth rate due to increasing manufacturing activity and government initiatives supporting renewable energy and infrastructure development. However, North America and Europe continue to hold significant market shares due to established aerospace and automotive industries. Future market growth will likely be influenced by technological advancements such as the development of more sustainable carbon fiber production methods, improved recycling technologies, and further integration of composite materials in electric vehicles and other high-growth sectors. The ongoing focus on sustainability will drive innovation in both material production and end-use applications, shaping the market's trajectory over the forecast period.

Graph and download economic data for Producer Price Index by Industry: Carbon and Graphite Product Manufacturing (PCU335991335991) from Jun 1985 to Jun 2025 about manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

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.

According to Cognitive Market Research, The Global Polyacrylonitrile Pan Carbon Fiber market size will be USD XX billion in 2023. It will expand at a compound annual growth rate (CAGR) of 6.50% from 2023 to 2030.

The demand for Polyacrylonitrile Pan Carbon Fibers is rising due to the surging demand for carbon fibres in the aerospace & defence industry, and the growth in the wind energy sector is also contributing to the growth of the product market.
Demand for long fibre remains higher in the polyacrylonitrile pan-based carbon fibre market.
The solvent recovery category held the highest Polyacrylonitrile Pan Carbon Fiber market revenue share in 2023.
North American will continue to lead, whereas the Asia Pacific Polyacrylonitrile Pan Carbon Fiber market will experience the most substantial growth until 2030.

Increasing Demand in Aerospace Industry to Provide Viable Market Output

One key driver fueling the polyacrylonitrile (Pan) based carbon fiber market is the rising demand in the aerospace industry. The aerospace sector has a growing need for lightweight, high-strength materials to enhance the fuel efficiency and the overall performance of aircraft. Polyacrylonitrile-based carbon fibres offer an excellent combination of strength and low weight, making them an ideal choice for aircraft components. As the aerospace industry continues to expand globally, with increased production of commercial and military aircraft, the demand for Pan-based carbon fibre is expected to surge. This dynamic is further accentuated by the ongoing trend towards fuel efficiency and sustainability, driving manufacturers to seek advanced materials for next-generation aerospace applications.

April 2022, Hexcel and Archer Aviation Inc. entered into a letter of intent covering a proposed relationship for supplying high-performance carbon fibre material that would be used to manufacture Archer's production aircraft.

(Source: www.hexcel.com/News/News-Releases/3414/archer-aviation-plans-to-work-with-hexcel-to-advance-production-capabilities)

Growing Automotive Applications to Propel Market Growth

Another significant driver in the Polyacrylonitrile (Pan) Based Carbon Fiber Market is the growing adoption of carbon fibre in the automotive industry. With an increasing emphasis on lightweighting to enhance fuel efficiency and reduce emissions, automotive manufacturers are turning to advanced materials like Pan-based carbon fiber for structural components. The unique properties of these fibres, such as their high strength-to-weight ratio and durability, make them attractive for use in components like chassis, body panels, and interiors. As the automotive industry transforms electric vehicles (EVs) and hybrid models, the demand for lightweight materials like Pan-based carbon fibre is expected to rise, driving market growth in this dynamic sector.

In February 2022, Teijin Limited announced to form a partnership with the Japan-based recycled carbon fibres manufacturer Fuji Design Co. Ltd to establish a business for producing, supplying, and commercializing carbon fibre reinforced plastic products derived from recycled carbon fibres using carbon fibre with a low environmental impact process.

(Source: www.teijin.com/news/2022/02/24/20220224_01.pdf)

Market Dynamics of the Polyacrylonitrile Pan Carbon Fiber

Challenges in Cost Competitiveness to Restrict Market Growth

one key restraint lies in the challenges associated with cost competitiveness. The production of Pan-based carbon fibres involves complex and energy-intensive processes, including the stabilization and carbonization of polyacrylonitrile precursor fibres. These manufacturing processes contribute significantly to the overall production costs. As a result, the cost of Pan-based carbon fibres is comparatively higher than traditional materials, such as steel or aluminium, posing a challenge for widespread adoption across various industries.

Impact of COVID-19 on the Polyacrylonitrile Pan Carbon Fiber Market

The polyacrylonitrile (PAN)-based carbon fiber market experienced notable impacts due to the COVID-19 pandemic. The global disruptions in supply chains, manufacturing operations, and reduced demand across various industries posed challenges to the carbon fibre market, including PAN-based carbon fibre. Lockdowns, travel restrictions, and economic uncertainties led to delays in project timelines, affect...

Asia Pacific’s Carbon Fibre Market dominance in holding the major market share in 2023, accounting for more than 26% of the global revenue, will expand with a CAGR of 1.77% from 2023 to 2030.

In 2017, the global demand for carbon fiber by the sports and leisure industry amounted to some ****** metric tons. This statistic shows the carbon fiber demand worldwide by market in 2016 and 2017, with forecast figures for 2020 and 2025.