Product Code: CMI7465
Carbon fiber market is estimated to be valued at USD 5.22 Bn in 2024 and is expected to reach USD 9.34 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
5.22 Bn |
Historical Data for: |
2019 to 2023 |
Forecast Period: |
2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: |
8.70% |
2031 Value Projection: |
9.34 Bn |
Figure. Carbon Fiber Market Share (%), By Region, 2024
Carbon fiber is a thin yet very strong material that is increasingly being used in a variety of applications ranging from aerospace to sports equipment due to its high strength-to-weight ratio. Made from carbon atoms bonded together in crystallite microstructures, carbon fiber is about five times stronger than steel and much lighter in weight. Compared to steel, carbon fiber reinforced polymer is about 30% lighter yet 200% stronger. This makes carbon fiber the material of choice for applications where high strength and light weight are critical factors for success. Various forms of carbon fiber are continuously being developed to enhance specific properties like heat tolerance, conductivity, and others, further expanding its potential uses.
Market Dynamics
Global carbon fiber market growth is driven by various factors like growing demand from aerospace and defense sectors where carbon fiber is being used to make lightweight aircraft components and composites to improve fuel efficiency. Strict emission regulations have compelled automobile manufacturers to enhance fuel efficiency, which boosts adoption of carbon fiber for vehicle components. Rapid infrastructure development in emerging nations can also drive the market growth. However, high costs of carbon fiber materials as compared to conventional alternatives restricts its widespread use. Ongoing R&D to develop advanced production techniques can reduce costs, and this presents an growth opportunity. Market players are also exploring reuse and recycling of carbon fiber composites to address sustainability and cost issues.
Key features of the study
This report provides in-depth analysis of the global carbon fiber market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global carbon fiber market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include A&P Technology Inc., Anshan Sinocarb Carbon Fibers Co. Ltd, DowAksa USA LLC, Formosa Plastics Corporation, Hexcel Corporation, Holding company Composite, Hyosung Advanced Materials, SGL Carbon, Solvay, Teijin Limited, Toray Industries Inc., Zhongfu Shenying Carbon Fiber Co. Ltd, Jiangsu Hengshen Co. Ltd, Mitsubishi Chemical Corporation, and Nippon Graphite Fiber Co. Ltd
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global carbon fiber market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Market Segmentation
- Raw Material Insights (Revenue, USD Bn, 2019 - 2031)
- Tow Size Insights (Revenue, USD Bn, 2019 - 2031)
- Application Insights (Revenue, USD Bn, 2019 - 2031)
- Automotive
- Aerospace & Defense
- Wind Turbines
- Sports/Leisure
- Molding & Compound
- Construction
- Others
- Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- A&P Technology Inc.
- Anshan Sinocarb Carbon Fibers Co. Ltd
- DowAksa USA LLC
- Formosa Plastics Corporation
- Hexcel Corporation
- Holding company Composite
- Hyosung Advanced Materials
- SGL Carbon
- Solvay
- Teijin Limited
- Toray Industries Inc.
- Zhongfu Shenying Carbon Fiber Co. Ltd
- Jiangsu Hengshen Co. Ltd
- Mitsubishi Chemical Corporation
- Nippon Graphite Fiber Co. Ltd
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Raw Material
- Market Snippet, By Tow Size
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend
4. Global Carbon Fiber Market - Impact of Coronavirus (COVID-19) Pandemic
- Overview
- Factors Affecting the Global Carbon Fiber Market - COVID-19
- Impact Analysis
5. Global Carbon Fiber Market, By Raw Material, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- PAN Based
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Pitch Based
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
6. Global Carbon Fiber Market, By Tow Size, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Small Tow
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Large Tow
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
7. Global Carbon Fiber Market, By Application, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Automotive
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Aerospace & Defense
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Wind Turbines
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Sports/Leisure
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Molding & Compound
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Construction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Others
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
8. Global Carbon Fiber Market, By Region, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- North America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2020 - 2031
- Market Size and Forecast, By Raw Material, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Tow Size, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Application, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019- 2031, (USD Bn)
- Latin America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2020 - 2031
- Market Size and Forecast, By Raw Material, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Tow Size, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Application, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019- 2031, (USD Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2020 - 2031
- Market Size and Forecast, By Raw Material, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Tow Size, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Application, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019- 2031, (USD Bn)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2020 - 2031
- Market Size and Forecast, By Raw Material, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Tow Size, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Application, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019- 2031, (USD Bn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2020 - 2031
- Market Size and Forecast, By Raw Material, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Tow Size, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Application, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019- 2031, (USD Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Market Share Analysis, By Country/Region, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country/Region, 2020 - 2031
- Market Size and Forecast, By Raw Material, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Tow Size, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Application, 2019- 2031, (USD Bn)
- Market Size and Forecast, By Country/Region, 2019- 2031, (USD Bn)
- South Africa
- North Africa
- Central Africa
9. Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3x3 Matrix)
- Company Profiles
- A&P Technology Inc.
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- Anshan Sinocarb Carbon Fibers Co. Ltd
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- DowAksa USA LLC
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- Formosa Plastics Corporation
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- Hexcel Corporation
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- Holding company Composite
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- Hyosung Advanced Materials
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- SGL Carbon
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- Solvay
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- Teijin Limited
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- Toray Industries Inc.
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- Zhongfu Shenying Carbon Fiber Co. Ltd
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- Jiangsu Hengshen Co. Ltd
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- Mitsubishi Chemical Corporation
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
- Nippon Graphite Fiber Co. Ltd
- Company Overview
- Product Type Portfolio
- Recent Developments/Updates
10. Analyst Recommendation
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
11. Section
- References
- Research Methodology
- About Us and Sales Contact