The North America Carbon Fiber Market Report is Segmented by Raw Material (Polyacrylonitrile (PAN), Petroleum Pitch and Rayon), Type (Virgin Carbon Fiber (VCF), Recycled Carbon Fiber (RCF)), Application (Composite Materials, Textiles, and More), End-User Industry (Aerospace and Defense, Alternative Energy, and More), and Geography (United States, Canada, and More). The Market Forecasts are Provided in Terms of Volume (tons).

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.

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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 North American carbon fiber market is booming, with a CAGR exceeding 17% through 2033. Driven by aerospace, automotive, and renewable energy, this report analyzes market size, segmentation (PAN, VCF, RCF), key players (Toray, Hexcel, SGL Carbon), and future growth projections. Discover key trends and investment opportunities in this rapidly expanding sector. 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.

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.

USD 2246.78 Million in 2024; projected USD 6160.25 Million by 2033; CAGR 11.88%.

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.

In North America Activated Carbon Fiber Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision.

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.

North America’s Carbon Fibre Market dominance in holding the major market share in 2023, accounting for more than 30% of the global revenue, will expand with a CAGR of 2.04% from 2023 to 2030.

North America Pitch Based Carbon Fiber Market is projected to grow around USD 520 million in 2025 to USD 940 million by 2031, at a CAGR of 10.3%.

Carbon Fiber Market Outlook

According to our latest research, the Global Carbon Fiber market size was valued at $5.1 billion in 2024 and is projected to reach $13.8 billion by 2033, expanding at a robust CAGR of 11.5% during 2024–2033. The primary growth driver for the carbon fiber market globally is the increasing demand for lightweight and high-strength materials across key industries such as aerospace, automotive, and renewable energy. Carbon fiber’s unique properties, including its high tensile strength, low weight, and exceptional resistance to corrosion and fatigue, make it indispensable for applications where performance and efficiency are paramount. This surge in adoption is further accelerated by the global push for sustainability and fuel efficiency, compelling manufacturers to replace traditional materials with advanced composites like carbon fiber.

Regional Outlook

North America currently commands the largest share in the global carbon fiber market, accounting for approximately 35% of total revenue in 2024. The region’s dominance is attributed to its mature aerospace and defense sector, particularly in the United States, where carbon fiber is extensively utilized in the manufacturing of commercial and military aircraft, satellites, and space exploration vehicles. Advanced research and development initiatives, coupled with strong government support for innovation, have fostered a thriving ecosystem for carbon fiber production and application. Furthermore, stringent regulatory standards aimed at reducing vehicle emissions are propelling the adoption of carbon fiber composites in automotive manufacturing, further solidifying North America’s leadership position.

Asia Pacific is emerging as the fastest-growing region in the carbon fiber market, projected to register a remarkable CAGR of 14.2% from 2024 to 2033. The region’s rapid growth is fueled by expanding industrialization, significant investments in wind energy and infrastructure, and the burgeoning automotive sector in countries such as China, Japan, and South Korea. Government initiatives that promote renewable energy and lightweight materials in transportation are also catalyzing market expansion. China, in particular, is investing heavily in domestic carbon fiber production capacity to reduce reliance on imports and support its ambitious aerospace and clean energy goals. The increasing adoption of carbon fiber in sporting goods and consumer electronics further adds to the region’s growth momentum.

In emerging economies across Latin America, the Middle East, and Africa, the carbon fiber market is witnessing a gradual uptick, though adoption remains comparatively modest due to high production costs and limited technological infrastructure. However, localized demand is rising as industries in Brazil, South Africa, and the Gulf states recognize the benefits of carbon fiber for construction, automotive, and marine applications. Challenges such as skill gaps, lack of standardized regulations, and fluctuating raw material prices persist, yet targeted policy reforms and foreign direct investment are beginning to address these barriers. As these regions continue to urbanize and diversify their industrial base, the potential for carbon fiber market expansion is expected to grow steadily over the forecast period.

Report Scope

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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

The aerospace carbon fiber market is booming, driven by demand for lightweight aircraft and a 7.51% CAGR. Explore market size, key players (Hexcel, Toray, Solvay), regional trends (North America, Europe, Asia-Pacific), and future growth projections in this in-depth analysis. Recent developments include: In March 2022, Solvay and Wichita State University's National Institute for Aviation Research (NIAR) announced a partnership on research and materials development at NIAR's facilities in Wichita, Kansas. The partnership is aimed at developing future solutions to bolster the aviation industry and create opportunities for companies of all sizes to revolutionize the future of flight., In March 2023, SGL Carbon revealed the new SIGRAFIL T50-4.9/235 carbon fiber, thereby expanding its material portfolio with new carbon fiber for high-strength pressure vessels.. Notable trends are: The Commercial Fixed-wing Aircraft Segment is Expected to Dominate the Market During the Forecast Period.

The Automotive Carbon Fiber market in North America is projected to surpass USD 12.71 Billion by 2030, driven by EV growth and lightweight vehicle trends.

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).

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.

Discover the booming global carbon fiber market, projected to reach $5.149 billion by 2025 with a 7.3% CAGR. This in-depth analysis covers market drivers, trends, restraints, key players (Toray, Hexcel, Teijin), and regional breakdowns. Learn about the growth potential in aerospace, automotive, and industrial applications.

The global rayon-based carbon fiber market is poised for substantial growth, driven by increasing demand across diverse sectors. While the exact market size for 2025 is not provided, considering a plausible CAGR (let's assume 12% for illustrative purposes, reflecting strong growth in advanced materials), and a hypothetical 2019 market size of $500 million (this is an educated guess based on the overall carbon fiber market and the niche nature of rayon-based fibers), we can project a 2025 market value exceeding $1 billion. This significant expansion is fueled by several key factors: the rising adoption of lightweight and high-strength materials in aerospace applications, the growing renewable energy sector demanding efficient and durable components, and the expanding medical industry's need for biocompatible and advanced materials in implants and devices. Further, ongoing research and development efforts focusing on improving the cost-effectiveness and performance characteristics of rayon-based carbon fibers will continue to drive market penetration. However, challenges remain. High production costs compared to other carbon fiber types, along with potential supply chain disruptions and the need for specialized manufacturing processes, act as restraints. Market segmentation reveals strong demand from the energy and aerospace sectors, but significant growth potential also exists within the medical and other emerging applications. Key players like Cytec, Mitsubishi Rayon, SGL, Teijin, and Toray are actively involved in driving innovation and expanding market reach. Regional analysis suggests strong growth in Asia Pacific, driven by China and India's rapid industrialization and burgeoning renewable energy projects. North America and Europe also maintain significant market share, driven by technological advancements and established aerospace and automotive industries. This comprehensive report provides an in-depth analysis of the global rayon-based carbon fiber market, projecting robust growth and significant opportunities across various sectors. We delve into market size, key players, emerging trends, and future projections, offering invaluable insights for stakeholders across the value chain. Our research utilizes rigorous data analysis and expert opinions to deliver actionable intelligence on this rapidly evolving industry. Keywords: Rayon Carbon Fiber, Carbon Fiber Production, Aerospace Carbon Fiber, Medical Carbon Fiber, Energy Carbon Fiber, Market Size, Market Share, Market Trends, Market Forecast.

Global Green Carbon Fiber Market was valued at USD 151.72 million in 2023 and is anticipated to project robust growth with a CAGR 4.56% through 2029.