Carbon Fiber Market - Trends Forecast Till 2028

Carbon Fiber Market by Raw Material (PAN, Pitch), Fiber Type (Virgin, Recycled), Product Type, Modulus, Application (Composite, Non-composite), End-use Industry (A & D, Automotive, Wind Energy) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: November, 2021

Base Year Estimate: 2020

Report ID: D-CM-CFM-514


Number of Pages: 294

Domain: Chemicals & Materials

Carbon Fiber Market – Trends Forecast Till 2028

The carbon fiber market was valued at USD 2589.46 million in 2020, and the market is projected to register a CAGR of 5.9% during the forecast period 2021-2028

Carbon fibers are fibers about 5–10 micrometres in diameter and composed mostly of carbon atoms. Carbon fibers have several advantages including high stiffness, high tensile strength, low weight, high chemical resistance, high temperature tolerance and low thermal expansion. These properties have made carbon fiber very popular in aerospace, civil engineering, military, and motorsports, along with other competition sports.

Increasing demand from wind energy and aerospace & defence industries is the factor that has supported long-term expansion for Carbon Fiber Market.

The onset of the global COVID-19 pandemic has disrupted the growth, development, and functioning of most sectors worldwide. The supply chain of most industries has been adversely affected due to the global lockdown, bans, and restrictions on travel and movement across the globe. The changing business environment and geopolitical scenario have caused the carbon fiber market to decline.

Carbon Fiber Market Report

Europe held the largest market share in the carbon fiber market and is expected to lead the carbon fiber market during the forecast period. Europe is a key carbon fiber market.  The aerospace & defence industry in the region is at the forefront of innovation with the successful launch of Airbus A320 family and Eurofighter. The low interest rate for corporate income tax and growth in the aerospace & defence industry in the region have helped carbon fiber manufacturers to penetrate this industry in the region.

Carbon Fiber Market is segmented into raw material, product type, fiber type, modulus, product type, application, end use industry and region.

On the basis of Raw Material

  • PAN–based carbon fiber
  • Pitch–based carbon fiber

On the basis of Product Type

  • Virgin carbon fiber
  • Recycled carbon fiber

On the basis of Modulus

  • Standard modulus
  • Intermediate modulus
  • High modulus

On the basis of Application

  • Composite
  • Non-composite

On the basis of End-User Industry

  • Aerospace & defense
  • Automotive
  • Wind Energy
  • Sporting goods
  • Electrical & electronics
  • Civil engineering
  • Pipe & tank
  • Marine

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Carbon Fiber Market Primary Respondent


Key Players

  • Toray Indusries
  • Teijin Limited
  • SGL Carbon
  • Mitsubishi Chemical Holdings
  • Hexcel Corporation
  • Solvay

Recent Developments

  • In February 2021, Teijin Limited announced its new Tenax PW (power series) and Tenax BM (beam series) brands of carbon fiber intermediate materials for sports applications. Tenax PW is an advanced aircraft-quality material that helps to maximize power and speed thanks to its exceptional durability and toughness.
  • In July 2020, Toray Industries, Inc., announced that it had an agreement with Lilium GmbH to supply carbon fiber and composite materials for the Lilium Jet. Lilium is developing all-electric, vertical take-off and landing aircraft to deliver clean, regional air mobility by 2025. Carbon fiber composite materials are vital to lighten such vehicles as the Lilium Jet.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Carbon Fiber Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope


Report Feature


Growth Rate

CAGR of 5.9% during the forecasting period, 2021-2026

Historical Data


Forecast Years


Base Year


Units Considered

Revenue in USD million and CAGR from 2021 to 2026

Report Segmentation

raw material, product type, fiber type, modulus, product type, application, end use industry and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Toray Industries, Teijin Limited, SGL Carbon, Mitsubishi Chemical Holdings, Hexcel Corporation and Solvay.

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