The North America Carbon Fiber Market report segments the industry into By Raw Material (Polyacrtlonitrile (PAN), Petroleum Pitch and Rayon), By Type (Virgin Fiber (VCF), Recycled Fiber (RCF)), By Application (Composite Materials, Textiles, Microelectrodes, and more), By End-user Industry (Aerospace and Defense, Alternative Energy, Automotive, and more), and By Geography (United States, Canada, and more).

The North America Carbon Fibers and Carbon Fiber Reinforced Plastics CFRP market size is USD 12.20 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 12.0% from 2023 to 2030.

The North America carbon fiber market size was valued at XX million in 2025 and is projected to reach XX million by 2033, growing at a CAGR of 17.00% from 2025 to 2033. The growth of the market is attributed to the increasing demand for carbon fiber from various end-user industries, such as aerospace and defense, automotive, and construction. Carbon fiber is a lightweight and strong material that is used in a variety of applications, including aircraft components, automotive parts, and construction materials. The rising demand for lightweight and fuel-efficient vehicles is driving the growth of the carbon fiber market in the automotive industry. Additionally, the increasing use of carbon fiber in construction applications, such as bridges and buildings, is also contributing to the market growth. The North America carbon fiber market is segmented by raw material, type, application, end-user industry, and geography. By raw material, the market is divided into polyacrylonitrile (PAN), petroleum pitch, and rayon. By type, the market is classified into virgin fiber (VCF) and recycled fiber (RCF). By application, the market is segmented into composite materials, textiles, microelectrodes, and catalysis. By end-user industry, the market is divided into aerospace and defense, alternative energy, automotive, construction and infrastructure, sporting goods, and other end-user industries (marine and maritime). By geography, the market is segmented into the United States, Canada, Mexico, and the Rest of North America. The North America carbon fiber market presents a dynamic landscape, characterized by robust growth and transformative applications. This comprehensive report offers an in-depth analysis of the industry's key drivers, challenges, and emerging trends, providing valuable insights for businesses, investors, and industry stakeholders. Recent developments include: March 2023: SGL Carbon launched SIGRAFIL 50k carbon fiber. This is majorly used in the wind and automotive industries, among others. It has high levels of strength of 4.9 GPa and elongation of 2.0 %. The advantages of SIGRAFIL 50k fiber types are increased process efficiency, higher material throughput, faster process times, and less set-up effort., April 2022: Hexcel Corporation and Archer Aviation Inc. announced their collaboration to supply high-performance carbon fiber material that would be used to manufacture Archer's production aircraft., January 2022: Vartega, a US-based company, announced the employment of a new technology for the recycling of carbon fiber waste for the management of carbon fiber waste in the country. The company will be using a patented chemical-based process to rescue carbon fiber waste from an eternity in the landfill.. Key drivers for this market are: Increasing Demand for Fuel-efficient and Lightweight Vehicles, Accelerating Usage in the Aerospace and Defense Sector; Increasing Usage in Renewable Energy. Potential restraints include: High R&D Investments, Other Restraints. Notable trends are: Aerospace and Defense Industry to Dominate the Market.

The North America Carbon Fiber Based on PAN market size is USD 1.14 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 11.0% from 2023 to 2030.

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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 latest study by Fact.MR places the global carbon fiber market size at US$ 13.71 billion by 2034-end, up from US$ 5.74 billion in 2024. Market expansion has been projected at a CAGR of 9.1% between 2024 and 2034.

Report Attributes	Details
Global Carbon Fiber Market Size (2024E)	US$ 5.74 Billion
Projected Market Value (2034F)	US$ 13.71 Billion
Global Market Growth Rate (2024 to 2034)	9.1% CAGR
China Market Value (2034F)	US$ 1.93 Billion
Canada Market Growth Rate (2024 to 2034)	7.2% CAGR
North America Market Share (2024E)	21.6%
East Asia Market Value (2034F)	US$ 3.37 Billion
Key Companies Profiled	Solvay Toray Industries Inc. Teijin Limited Hexcel Corporation Mitsubishi Chemical Group Corporation SGL Carbon Jilin Chemical fiber DowAksa

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 888.6 Million
Growth Rate (2024 to 2034)	7.1% CAGR
Projected Value (2034F)	US$ 1.76 Billion

Attribute	China
Market Value (2024E)	US$ 728 Million
Growth Rate (2024 to 2034)	10.3% CAGR
Projected Value (2034F)	US$ 1.93 Billion

Category-wise Insights

Attribute	PAN-Based
Segment Value (2024E)	US$ 1.6 Billion
Growth Rate (2024 to 2034)	9.7% CAGR
Projected Value (2034F)	US$ 4.04 Billion

North America Carbon Fiber Market growth is driven by key factors such as increasing demand for lightweight materials in the automotive and aerospace sectors, advancements in carbon fiber manufacturing technologies, and growing applications in renewable energy, electric vehicles, and 3D printing.

The North American carbon fiber market is experiencing robust growth, driven by increasing demand across diverse sectors. The market's Compound Annual Growth Rate (CAGR) exceeding 17% from 2019-2033 signifies significant expansion potential. Key drivers include the burgeoning aerospace and defense industry, the rapid development of alternative energy technologies (like wind turbines and electric vehicles), and the growing adoption of lightweight materials in the automotive and construction sectors. The rising popularity of sporting goods incorporating carbon fiber further fuels this market expansion. While the availability of raw materials and fluctuating prices present some challenges, innovation in carbon fiber manufacturing techniques, particularly those focused on recycled fiber (RCF) and sustainable production methods, is mitigating these concerns. The dominance of the United States within the North American market is expected to continue, driven by its robust manufacturing base and significant investments in research and development. Canada and Mexico will also contribute to the regional growth, especially as they become increasingly integrated into the North American supply chains for various end-use industries. The market segmentation by raw material (PAN, petroleum pitch, and rayon), fiber type (VCF and RCF), and application highlights the diverse opportunities within the carbon fiber market, creating attractive avenues for investment and growth for both established players and emerging companies. The segmentation reveals significant opportunities. The preference for Polyacrylonitrile (PAN) based carbon fiber due to its superior properties will continue to dominate the raw material segment. However, increased focus on sustainability will drive growth in the recycled carbon fiber (RCF) market segment. The substantial growth in the aerospace and defense sectors will significantly impact the market, coupled with consistent demand from automotive and construction, where lightweighting initiatives are critical. This leads to substantial opportunities for established companies like Toray Industries, Hexcel Corporation, and SGL Carbon, along with innovative players focusing on RCF technology like Vartega Inc. The forecast period of 2025-2033 suggests that the market is poised for continued expansion, presenting promising prospects for stakeholders throughout the value chain. Further research into specific application segments and geographic regions within North America would provide a more granular understanding of market dynamics and opportunities. Recent developments include: March 2023: SGL Carbon launched SIGRAFIL 50k carbon fiber. This is majorly used in the wind and automotive industries, among others. It has high levels of strength of 4.9 GPa and elongation of 2.0 %. The advantages of SIGRAFIL 50k fiber types are increased process efficiency, higher material throughput, faster process times, and less set-up effort., April 2022: Hexcel Corporation and Archer Aviation Inc. announced their collaboration to supply high-performance carbon fiber material that would be used to manufacture Archer's production aircraft., January 2022: Vartega, a US-based company, announced the employment of a new technology for the recycling of carbon fiber waste for the management of carbon fiber waste in the country. The company will be using a patented chemical-based process to rescue carbon fiber waste from an eternity in the landfill.. Key drivers for this market are: Increasing Demand for Fuel-efficient and Lightweight Vehicles, Accelerating Usage in the Aerospace and Defense Sector; Increasing Usage in Renewable Energy. Potential restraints include: Increasing Demand for Fuel-efficient and Lightweight Vehicles, Accelerating Usage in the Aerospace and Defense Sector; Increasing Usage in Renewable Energy. Notable trends are: Aerospace and Defense Industry to Dominate the Market.

Gain insights into the North America Carbon Fiber Market, size at 47 kilotons in 2023, highlighting industry trends and future growth opportunities.

North America Carbon Fiber Market size was valued at USD 2.82 Billion in 2024 and is expected to reach USD 6.56 Billion by 2032, growing at a CAGR of 11.2% from 2026 to 2032.

Key Market Drivers:

Rising Demand for Lightweight Materials: The North American Carbon Fiber Market is witnessing a rise in demand for lightweight, high-strength materials, especially in the aerospace and automotive industries. This shift is driven by the need to reduce fuel consumption and emissions.

Growing Aerospace Industry Investment: The aerospace sector's rapid growth is a key driver of the Carbon Fiber Market in North America. As the industry emphasizes fuel efficiency and performance, the use of carbon fiber composites has increased. According to the Federal Aviation Administration (FAA) in 2024, the U.S. commercial aircraft fleet is expected to grow by 3.3% annually until 2039.

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According to carbon fiber industry statistics, North America was identified as the largest consumer of carbon fiber. The carbon fiber market research report considers consumption patterns of several regions including North America, Europe, APAC,South America, and MEA to present a clear picture of the demand of the product globally during the forecast period 2020-2024.

The carbon fiber market report also provides several other key information including:

CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will drive carbon fiber market growth during the next five years
Precise estimation of the carbon fiber market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the carbon fiber market industry across North America, Europe, APAC,South America, and MEA
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of carbon fiber market vendors

Chopped Carbon Fiber Market Outlook

The global market size of chopped carbon fiber was valued at approximately $750 million in 2023 and is expected to reach around $1.4 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 7.5% during the forecast period. The increasing demand in industries such as automotive, aerospace, and electronics is a significant growth factor driving the market. The lightweight nature and superior strength-to-weight ratio of chopped carbon fiber make it an ideal material for high-performance applications, thereby fueling its market growth.

The rapid advancements in manufacturing technologies and the increasing adoption of composite materials in various industries are critical growth drivers. Industries like automotive and aerospace are continually seeking materials that provide high strength while being lightweight. Chopped carbon fiber fits perfectly into this niche, offering enhanced performance, fuel efficiency, and reduced emissions. Additionally, the material's recyclability and sustainability credentials are becoming increasingly important as industries push towards greener and more eco-friendly manufacturing processes.

Innovations in resin systems and composite manufacturing techniques have broadened the applications of chopped carbon fiber. Advanced thermoplastic and thermoset resins have significantly improved the bonding and performance characteristics of carbon fiber composites. Furthermore, the development of automated manufacturing processes has reduced production costs, making chopped carbon fiber more accessible for various applications. The ongoing research and development in nanotechnology and material science are likely to introduce even more advanced composites, propelling the market further.

Government regulations and incentives promoting lightweight and fuel-efficient vehicles are also playing a crucial role in the market's growth. In regions like Europe and North America, stringent emission norms are compelling automotive manufacturers to adopt lightweight materials like chopped carbon fiber. Additionally, government funding and subsidies for research in advanced materials and composites are catalyzing the development and adoption of chopped carbon fiber in various industries.

Regionally, the Asia Pacific is emerging as a significant market for chopped carbon fiber, driven by substantial growth in automotive and electronics manufacturing. North America and Europe are also prominent markets, thanks to the strong presence of aerospace and automotive industries. The Middle East and Africa, as well as Latin America, are expected to witness moderate growth, supported by increasing investments in infrastructure and industrial activities.

Product Type Analysis

The chopped carbon fiber market is segmented into thermoplastic and thermoset resins. Thermoplastic chopped carbon fiber is gaining widespread acceptance due to its recyclability and ease of processing. The ability to remold and recycle thermoplastic composites makes them highly suitable for applications where environmental sustainability is a priority. Moreover, thermoplastic composites exhibit superior toughness and impact resistance, making them ideal for automotive and aerospace applications. The growing emphasis on electric vehicles (EVs) and lightweight automotive components significantly drives the demand for thermoplastic chopped carbon fibers.

Thermoset chopped carbon fiber, on the other hand, offers exceptional dimensional stability and resistance to high temperatures and chemicals, making it suitable for high-performance applications in aerospace, construction, and sporting goods. The superior bonding properties of thermoset resins ensure that the composite material retains its mechanical properties even under extreme conditions. The aerospace industry, in particular, benefits from thermoset composites as they contribute to significant weight reductions, enhancing fuel efficiency and performance of aircraft.

Technological advancements in resin systems are further enhancing the performance characteristics of both thermoplastic and thermoset composites. Innovations such as high-performance epoxy resins and polyamide resins are offering better mechanical properties, heat resistance, and durability. These advancements are opening up new application avenues for chopped carbon fiber, including advanced electronics and renewable energy sectors.

Market trends indicate an increasing preference for hybrid composites that combine the properties of both thermoplas

The North America Carbon Fiber Composite market size is USD 8.08 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 5.5% from 2023 to 2030.

North America Carbon Fibre Market is expected to grow during 2025-2031

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).

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On analysis of the Carbon Fiber Market, it was observed that Global will post the highest growth among all the regions. This conclusion was made after through examination of the growth prospects of the market across several regions including North America, Europe, APAC,South America, and MEA.

The carbon fiber market report also provides several other key information including:

CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will drive carbon fiber market growth during the next five years
Precise estimation of the carbon fiber market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the carbon fiber market industry across North America, Europe, APAC,South America, and MEA
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of carbon fiber market vendors

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The carbon fiber market is expected to grow at a CAGR of 8.63% during the forecast period. This market growth can be attributed to various factors including Increasing demand for fuel-efficient vehicles, Increasing use of carbon fibers in the aerospace and defense sector, and Collaborations between carbon fiber manufacturers and end-use industries.

The carbon fiber market report offers several other valuable insights such as:

CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will drive carbon fiber market growth during the next five years
Precise estimation of the carbon fiber market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the carbon fiber market industry across North America, Europe, APAC, South America, and MEA
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of carbon fiber market vendors

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