Carbon Fiber Composites

Global Carbon Fiber Composites Market to Reach US$27.5 Billion by 2030

The global market for Carbon Fiber Composites estimated at US$20.9 Billion in the year 2024, is expected to reach US$27.5 Billion by 2030, growing at a CAGR of 4.7% over the analysis period 2024-2030. Polymer Materials, one of the segments analyzed in the report, is expected to record a 5.5% CAGR and reach US$10.8 Billion by the end of the analysis period. Growth in the Carbon Materials segment is estimated at 4.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$5.7 Billion While China is Forecast to Grow at 8.7% CAGR

The Carbon Fiber Composites market in the U.S. is estimated at US$5.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.8 Billion by the year 2030 trailing a CAGR of 8.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.9% and 3.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.

Global Carbon Fiber Composites Market – Key Trends & Drivers Summarized

Why Is the Demand for Carbon Fiber Composites Increasing?

The demand for carbon fiber composites is rising rapidly as industries seek high-performance, lightweight, and durable materials for various applications. Known for their exceptional strength-to-weight ratio, corrosion resistance, and high thermal stability, carbon fiber composites have become a preferred choice in aerospace, automotive, renewable energy, sports equipment, and construction. As manufacturers strive for greater efficiency and sustainability, the adoption of carbon fiber composites is expanding across multiple sectors.

The automotive industry is one of the primary drivers of this growth, as automakers focus on lightweighting strategies to improve fuel efficiency and reduce carbon emissions. Additionally, the aerospace sector continues to leverage carbon fiber composites for aircraft structural components, enhancing fuel economy and flight performance. The wind energy sector has also witnessed increased utilization of these composites in turbine blades, further propelling market demand. With global emphasis on energy conservation and high-performance materials, carbon fiber composites are becoming an integral part of next-generation engineering solutions.

How Are Technological Advancements Improving Carbon Fiber Composites?

Innovations in carbon fiber production, resin matrices, and advanced manufacturing techniques are enhancing the performance, cost-effectiveness, and scalability of carbon fiber composites. One of the most significant advancements is the development of low-cost carbon fiber production methods, which aim to reduce the traditionally high manufacturing costs associated with these materials. Breakthroughs in precursor materials, including lignin-based and recycled carbon fibers, are making composites more accessible to a wider range of industries.

Another major technological leap is the integration of automated manufacturing processes, such as automated fiber placement (AFP) and resin transfer molding (RTM), which improve production efficiency and reduce labor costs. Additionally, advancements in hybrid composites—where carbon fiber is combined with other materials like Kevlar or glass fiber—are creating multifunctional composites with enhanced impact resistance and flexibility. Smart carbon fiber composites, embedded with sensors and nanomaterials, are also emerging, enabling real-time structural health monitoring for aerospace, automotive, and infrastructure applications. As technological advancements continue to drive down costs and improve material properties, carbon fiber composites are expected to become more widespread across various industries.

Which Market Trends Are Driving Growth in the Carbon Fiber Composites Industry?

The growing focus on sustainability and recyclability is one of the most influential trends shaping the carbon fiber composites market. With increasing environmental regulations and corporate sustainability initiatives, manufacturers are developing recyclable and bio-based carbon fiber composites to minimize waste and reduce carbon footprints. Recycling technologies, such as pyrolysis and solvolysis, are gaining traction, allowing for the recovery and reuse of carbon fibers in secondary applications.

Another key trend influencing market growth is the expansion of carbon fiber composites in high-volume production industries. While aerospace and defense have been long-time users of these materials, sectors such as consumer electronics, medical devices, and sporting goods are now incorporating carbon fiber composites into their product designs. Additionally, the rise of electric vehicles (EVs) has accelerated the demand for lightweight, high-strength materials to extend battery range and improve vehicle performance. The increasing adoption of carbon fiber in construction and infrastructure, particularly for seismic retrofitting and bridge reinforcement, is also expanding the market’s reach. As industries continue to explore new applications, the market for carbon fiber composites is poised for sustained growth.

What Are the Key Growth Drivers Shaping the Future of the Carbon Fiber Composites Market?

The growth in the carbon fiber composites market is driven by several critical factors, including increasing demand for lightweight materials, advancements in composite manufacturing, and expanding applications in renewable energy. One of the primary growth drivers is the push for fuel efficiency and emission reduction in the automotive and aerospace industries. With stringent regulatory mandates on carbon emissions, manufacturers are turning to carbon fiber composites to develop lighter, more fuel-efficient vehicles and aircraft.

Another crucial driver shaping the market is the rising investment in infrastructure modernization and renewable energy projects. Governments worldwide are prioritizing the development of smart cities, sustainable construction, and wind energy expansion, all of which require high-performance materials like carbon fiber composites. Additionally, advancements in additive manufacturing (3D printing) are opening new possibilities for customized, high-strength composite structures, further driving innovation in the sector. As technology continues to improve and industries demand more efficient and sustainable materials, the carbon fiber composites market is set to witness significant expansion, reshaping modern engineering and manufacturing landscapes.

SCOPE OF STUDY:

The report analyzes the Carbon Fiber Composites market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Matrix Material (Polymer Materials, Carbon Materials, Ceramic Materials, Metal Materials, Hybrid Materials); End-Use (Aerospace and Defense End-Use, Automotive End-Use, Sport and Leisure End-Use, Wind Turbines End-Use, Civil Engineering End-Use, Marine End-Use, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 44 Featured) -

• ACP Composites, Inc.
• Aksa Akrilik Kimya Sanayii A.S.
• Clearwater Composites, LLC
• Composite Resources, Inc.
• Cytec Industries Inc.
• DowAksa Advanced Composites Holdings B.V.
• Formosa Plastics Corporation
• Gurit Holding AG
• Hexcel Corporation
• Hyosung Advanced Materials
• Kureha Corporation
• Mitsubishi Chemical Corporation
• Nippon Graphite Fiber Co., Ltd.
• Plasan Carbon Composites
• Rock West Composites
• SGL Carbon SE
• Solvay S.A.
• Teijin Limited
• Toray Industries, Inc.
• ZOLTEK Corporation

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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