Press Release

Global Carbon Fiber Market to Reach USD16 Billion Mark by 2030 Due to Increasing Demand for Lightweight Materials

The Global Carbon Fiber Market size was valued at around USD 8 billion in 2024 and is projected to reach USD 16 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 12% during the forecast period, i.e., 2025-30. The Global Carbon Fiber Market is being driven by several key elements. The demand for lightweight materials such as carbon fiber is growing in several industries. These lightweight materials help enhance efficiency, performance, and sustainability needs, boosting the market growth of carbon fiber. Because of these applications of carbon fibers in the renewable energy fields, particularly in wind turbines, are growing rapidly. Carbon fiber is widely used in modern wind turbine blades many of which are over 107 meters long due to its excellent tensile strength and light weight that reduces the overall weight of the blade.

Another reason is carbon fibers' unmatched strength-to-weight ratio, making it critical for performance and fuel economy in the automotive and aerospace industries. In addition, products such as bicycles, golf clubs, and tennis rackets constitute more than fifteen percent of the global consumption of carbon fiber, a reflection of its widespread usage in recreational applications. The emerging field of 3D printing also employs carbon fiber to produce strong, lightweight components that allow innovative manufacturing designs.

Furthermore, more carbon fiber is being introduced in the construction and infrastructure sectors, particularly in seismic retrofitting and high-strength reinforcements in bridges in emerging markets such as Brazil and India. Also, innovation is being facilitated by increasing investments in high-performance carbon fiber grades such as ultra-high modulus fibers for aerospace and defense applications. Innovations such as High-yield polyacrylonitrile precursors and microwave-assisted carbonization techniques are helping in an almost 30% reduction in production cost and increasing the accessibility of carbon fiber for industrial applications. These developments in carbon fiber production technologies are opening the way for significant expansion opportunities in the global market.

Another advanced composite material, hybrid laminates with a combination of glass and carbon fibers for performance improvement, boosts the growth in the market. Carbon fiber production also become increasingly automated to make mass customization for consumer goods and the automotive industry possible. The use of carbon fiber in hydrogen storage tanks has also grown in popularity due to its ability to store pressurized hydrogen safely and effectively. Aligning with sustainability objectives thermoplastic carbon fiber composites are becoming more popular due to their recyclable nature. Furthermore, collaborations between carbon fiber manufacturers and OEMs are promoting environmentally friendly initiatives. One example is General Motors' collaboration with Teijin to develop lightweight sustainable automotive components, further states the research report, “Global Carbon Fiber Market Analysis, 2025”.

Segmentation Analysis

The Aerospace & Defense Sector Uses High Volume of Carbon Fiber

Based on end users, the market is further bifurcated into Automotive, Aerospace & Defense, Wind Turbines, Sports Equipment, Molding & Compounding, Construction, Pressure Vessels, and Others. Roughly 35% of the carbon fiber market in 2023 is controlled by the Aerospace and Defense industry. The segment dominance is because lightweight, durable, and high-strength materials are essential for aviation and defense sectors to improve fuel efficiency and performance. Carbon fiber-reinforced polymers are commonly found in aircraft bodies, wings, and internal parts. These polymers are lighter than traditional materials, with a weight reduction of up to 50%. Carbon fiber is also used in drones, combat aircraft, and missile systems to promote its use. With rising defense budgets and a focus of global attention on next-generation aircraft, the Aerospace & Defense sector is likely to remain at the top in the carbon fiber market.

Europe Leads the Global Carbon Fiber Industry

Geographically, Europe dominates the industry with a significant market share of around 40%. It has a strong industry, particularly in the aerospace, automotive, and wind energy industries which are major users of carbon fiber. Moreover, the European Union's rigorous environmental legal regulations encourage light, gas-efficient materials like carbon fiber to enhance the appearance of emission targets, which are set to commence in 2030. Strong research and development initiatives in the region foster innovation in carbon fiber manufacturing. Moreover, Europe is home to major carbon fiber producers and maintains a robust supply chain, solidifying its position in the global market.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Toray Industries Inc., Hexcel Corporation, SGL Carbon, Teijin Limited, Solvay, Hyosung Advanced Materials, Mitsubishi Chemical Group Corporation, Anshan Sinoda Carbon Fibers Co., Ltd., Zhongfu Shenying Carbon Co., Ltd., China National Bluestar Co., Ltd., Kureha Corporation, Nippon Graphite Fiber Co., Ltd., ZOLTEK Corporation, Jilin Chemical Fiber Group Co., Ltd., DowAksa, and Others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?