Carbon Fiber Composites Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025

Description

The Global Carbon Fiber Composites Market was valued at USD 20.5 billion in 2024 and is estimated to grow at a CAGR of 10% to reach USD 53.6 billion by 2034.

Carbon fiber composites are advanced materials composed of carbon fibers embedded in a polymer matrix. These composites are recognized for their exceptional strength-to-weight ratio, superior durability, and corrosion-resistant nature, making them essential across high-performance industries. The market's expansion is primarily fueled by the increasing need for lightweight materials, particularly within the automotive and aerospace industries. Technological innovations in manufacturing, such as automation and advanced resin systems, have notably reduced production costs, enabling mass-scale manufacturing. Sustainability trends have also introduced recycled carbon fiber, minimizing environmental impact and cost. In addition, additive manufacturing and 3D printing technologies are broadening the design flexibility of carbon fiber composites while cutting material waste. The advancement of modern production processes, including automated fiber placement, resin transfer molding, and robotic systems, has improved manufacturing precision and cost efficiency, allowing manufacturers to meet surging global demand with enhanced performance and material optimization.

Market Scope
Start Year	2024
Forecast Year	2025-2034
Start Value	$20.5 Billion
Forecast Value	$53.6 Billion
CAGR	10%

The PAN-based carbon fiber composites segment generated USD 18.9 billion in 2024. This segment dominates the industry, driven by the reliability and technological maturity of polyacrylonitrile (PAN) precursor systems. Consistent quality has been a major advantage, helping manufacturers maintain a competitive edge. Strict quality assurance procedures and rigorous testing standards continue to strengthen the credibility of PAN-based composites in various industrial applications.

The continuous fiber composites segment held a 73% share in 2024. These materials are preferred for applications demanding high stiffness and strength, particularly in sectors such as automotive, renewable energy, and aerospace. Manufacturing processes for these composites are shifting toward precision-driven technologies that ensure accurate fiber orientation and consistent placement. This evolution not only improves performance but also reduces waste and overall material use, leading to higher cost-effectiveness and sustainability across production cycles.

North American Carbon Fiber Composites Market will grow at a CAGR of 10% between 2025 and 2034. Rising adoption of high-strength, lightweight materials in the infrastructure, aerospace, and automotive industries is driving regional expansion. Increasing electric vehicle production and technological advancements in the aerospace industry are further propelling demand. Additionally, ongoing progress in production technologies such as automated fiber placement and resin transfer molding continues to enhance manufacturing efficiency and overall product performance. The growing preference for high-performance composite materials remains the key factor accelerating industry growth across North America.

Major companies active in the Global Carbon Fiber Composites Market include Toray Industries, SGL Carbon, Mitsubishi Chemical Corporation, Solvay S.A., Formosa Plastics Corporation, Zoltek Companies, Inc., Teijin Limited, Nippon Graphite Fiber, Hexcel Corporation, and Hengshen. Leading players in the Carbon Fiber Composites Market are implementing diverse strategies to strengthen their market foothold. Companies such as Toray Industries, Solvay S.A., and Teijin Limited are investing heavily in advanced manufacturing technologies to boost production efficiency and reduce costs. Strategic collaborations and mergers are helping firms expand their product portfolios and access new regional markets. Continuous R&D investments are directed toward developing high-performance, sustainable composite materials with improved recyclability. Manufacturers are also integrating automation, robotics, and AI-driven systems to enhance precision and scalability.

Product Code: 2180

Chapter 1 Methodology & Scope

1.1 Market scope and definition
1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
1.3 Data mining sources
- 1.3.1 Global
- 1.3.2 Regional/Country
1.4 Base estimates and calculations
- 1.4.1 Base year calculation
- 1.4.2 Key trends for market estimation
1.5 Primary research and validation
- 1.5.1 Primary sources
1.6 Forecast model
1.7 Research assumptions and limitations

Chapter 2 Executive Summary

2.1 Industry 360⁰ synopsis
2.2 Key market trends
- 2.2.1 Precursor type trends
- 2.2.2 Fiber form trends
- 2.2.3 Fiber type trends
- 2.2.4 End use industry trends
- 2.2.5 Regional trends
2.3 TAM Analysis, 2025-2034
2.4 CXO perspectives: strategic imperatives
- 2.4.1 Executive decision points
- 2.4.2 Critical success factors
2.5 Future outlook and strategic recommendations

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Supplier landscape
- 3.1.2 Profit margin
- 3.1.3 Value addition at each stage
- 3.1.4 Factor affecting the value chain
- 3.1.5 Disruptions
3.2 Industry impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 Lightweighting demand in aerospace & automotive
  - 3.2.1.2 Renewable energy infrastructure expansion
  - 3.2.1.3 Advanced manufacturing process adoption
- 3.2.2 Industry pitfalls and challenges
  - 3.2.2.1 High raw material & manufacturing costs
  - 3.2.2.2 Technical barriers in large tow applications
- 3.2.3 Market opportunities
  - 3.2.3.1 Recycled carbon fiber market development
  - 3.2.3.2 3D printing & additive manufacturing applications
3.3 Growth potential analysis
3.4 Regulatory landscape
- 3.4.1 North America
- 3.4.2 Europe
- 3.4.3 Asia Pacific
- 3.4.4 Latin America
- 3.4.5 Middle East & Africa
3.5 Porter's analysis
3.6 PESTEL analysis
3.7 Technology and Innovation landscape
- 3.7.1 Current technological trends
- 3.7.2 Emerging technologies
3.8 Price trends
- 3.8.1 By region
- 3.8.2 By precursor type
3.9 Future market trends
3.10 Patent landscape
3.11 Trade statistics (HS code) (Note: the trade statistics will be provided for key countries only)
- 3.11.1 Major importing countries
- 3.11.2 Major exporting countries
3.12 Sustainability and environmental aspects
- 3.12.1 Sustainable practices
- 3.12.2 Waste reduction strategies
- 3.12.3 Energy efficiency in production
- 3.12.4 Eco-friendly initiatives
3.13 Carbon footprint consideration

Chapter 4 Competitive Landscape, 2024

4.1 Introduction
4.2 Company market share analysis
- 4.2.1 By region
  - 4.2.1.1 North America
  - 4.2.1.2 Europe
  - 4.2.1.3 Asia Pacific
  - 4.2.1.4 LATAM
  - 4.2.1.5 MEA
4.3 Company matrix analysis
4.4 Competitive analysis of major market players
4.5 Competitive positioning matrix
4.6 Key developments
- 4.6.1 Mergers & acquisitions
- 4.6.2 Partnerships & collaborations
- 4.6.3 New product launches
- 4.6.4 Expansion plans

Chapter 5 Market Estimates and Forecast, By Precursor Type, 2021-2034 (USD Billion) (Kilo Tons)

5.1 Key trends
5.2 PAN-based carbon fiber composites
5.3 Pitch-based carbon fiber composites

Chapter 6 Market Estimates and Forecast, By Fiber Form, 2021-2034 (USD Billion) (Kilo Tons)

6.1 Key trends
6.2 Continuous fiber composites
6.3 Discontinuous fiber composites

Chapter 7 Market Estimates and Forecast, By Fiber Type, 2021-2034 (USD Billion) (Kilo Tons)

7.1 Key trends
7.2 Standard modulus (SM)
7.3 Intermediate modulus (IM)
7.4 High modulus (HM)
7.5 Ultra-high modulus (UHM)

Chapter 8 Market Estimates and Forecast, By End Use Industry, 2021-2034 (USD Billion) (Kilo Tons)

8.1 Key trends
8.2 Aerospace & defense
- 8.2.1 Commercial aviation
- 8.2.2 Military & defense
- 8.2.3 Space & satellite
- 8.2.4 Unmanned aerial vehicles
8.3 Automotive
- 8.3.1 Electric vehicle
- 8.3.2 Luxury & performance vehicle
- 8.3.3 Motorsports
- 8.3.4 Commercial vehicle
8.4 Renewable energy
- 8.4.1 Wind energy
- 8.4.2 Solar energy
- 8.4.3 Hydroelectric
8.5 Marine
- 8.5.1 Recreational marine
- 8.5.2 Commercial marine
- 8.5.3 Naval & defense marine
8.6 Construction & infrastructure
- 8.6.1 Building & construction
- 8.6.2 Bridge & infrastructure
- 8.6.3 Seismic retrofitting
8.7 Sports & recreation
8.8 Healthcare & medical
- 8.8.1 Prosthetics & orthotics
- 8.8.2 Medical device
- 8.8.3 Rehabilitation equipment
8.9 Others
- 8.9.1 Electronics & technology
- 8.9.2 Manufacturing & industrial equipment
- 8.9.3 Energy storage & power generation

Chapter 9 Market Estimates and Forecast, By Region, 2021-2034 (USD Billion) (Kilo Tons)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 France
- 9.3.4 Spain
- 9.3.5 Italy
- 9.3.6 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 Australia
- 9.4.5 South Korea
- 9.4.6 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
9.6 Middle East and Africa
- 9.6.1 Saudi Arabia
- 9.6.2 South Africa
- 9.6.3 UAE
- 9.6.4 Rest of Middle East and Africa

Chapter 10 Company Profiles

10.1 Formosa Plastics Corporation
10.2 Hengshen
10.3 Hexcel Corporation
10.4 Mitsubishi Chemical Corporation
10.5 Nippon Graphite Fiber
10.6 SGL Carbon
10.7 Solvay S.A.
10.8 Teijin Limited
10.9 Toray Industries
10.10 Zoltek Companies, Inc.

Carbon Fiber Composites Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034