Carbon Fiber Market Global Trends And Revenue Growth Up To 2030

Carbon Fiber Market Summary

The global carbon fiber market size was estimated at USD 5.75 billion in 2024 and is estimated to reach USD 10.68 billion by 2030, growing at a CAGR of 10.9% from 2025 to 2030. This strong market expansion is primarily driven by the increasing dependence on carbon fiber for wind energy applications, which has become essential due to the worldwide transition toward renewable energy. Countries are investing heavily in sustainable power generation to reduce greenhouse gas emissions, and carbon fiber has emerged as a critical material enabling more efficient, durable, and longer-lasting wind turbine components.

As countries aim to reduce their dependence on fossil fuels, the demand for wind turbines is increasing, and carbon fiber's strength and durability make it ideal for turbine blades. The material provides exceptional stiffness while maintaining a low weight, which allows manufacturers to design blades that are longer without compromising structural stability. These longer blades can capture more kinetic energy from the wind, significantly improving the overall performance and output of wind farms. This efficiency gain directly contributes to lowering the cost of renewable power generation, making wind energy more attractive for government and private sector investments.

Furthermore, the construction and infrastructure industries are recognizing carbon fiber's potential for enhancing the longevity and resilience of structures. In civil engineering, carbon fiber is increasingly used for strengthening and retrofitting bridges, buildings, tunnels, and other infrastructure components. Its ability to resist corrosion makes it superior to steel in environments exposed to moisture, chemicals, or fluctuating climate conditions. The material's lightweight characteristics also simplify installation, reduce load on existing structures, and improve seismic performance, especially important for regions prone to earthquakes. As infrastructure globally continues to age and require rehabilitation, carbon fiber is becoming a preferred choice for long-term reinforcement projects.

Key Market Trends & Insights

• The Europe carbon fiber market dominated the global market and accounted for 31.9% of global revenue in 2024. This dominance is supported by the region’s strong aerospace, automotive, and renewable energy industries, which are major users of high-performance carbon fiber materials.
• By raw material, the polyacrylonitrile (PAN) segment accounted for the fastest and largest revenue share of 96.4% in 2024. PAN-based carbon fiber remains the industry standard due to its superior mechanical properties and widespread availability.
• By application, the aerospace and defense segment accounted for the largest revenue share of 32.2% in 2024. Demand from aircraft manufacturing, space exploration, and defense technologies continues to drive the need for high-strength, lightweight materials.
• By tow size, the small tow segment accounted for the largest revenue share of 77.9% in 2024. Small tow carbon fibers are preferred in high-performance applications where precision, strength, and reliability are critical.

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Market Size & Forecast

• 2024 Market Size: USD 5.75 Billion
• 2030 Projected Market Size: USD 10.68 Billion
• CAGR (2025-2030): 10.9%
• Europe: Largest market in 2024

Key Companies & Market Share Insights

Some of the key players operating in the market include Owens Corning, Rockwell International, A&P Technology Inc.,Anshan Sinocarb Carbon Fiber Co. Ltd, among others:

• Owens Corning offers a range of high-quality products, including FOAMULAR extruded polystyrene (XPS) insulation boards, renowned for their moisture resistance, durability, and thermal performance. Additionally, the company provides Thermafiber mineral wool insulation boards, which offer fire resistance and sound control, meeting the needs of both residential and commercial applications.
• Rockwell International, a prominent player in the Carbon Fiber market, specializes in providing high-performance insulation solutions designed for both commercial and industrial applications. With a focus on energy efficiency, sustainability, and durability, Rockwell's product portfolio includes an array of mineral wool insulation boards. These offerings cater to multiple needs, including thermal and acoustic insulation as well as fire resistance, making them suitable for walls, roofs, floors, and HVAC systems. The company’s Carbon Fiber products are engineered to meet stringent industry standards, supporting energy conservation efforts and enhancing the safety and comfort of building environments.

Key Players

• A&P Technology Inc.
• Anshan Sinocarb Carbon Fiber Co. Ltd
• DowAksa USA LLC
• Formosa Plastics Corporation
• Hexcel Corporation
• Holding company Composite
• Hyosung Advanced Materials
• Jiangsu Hengshen Co. Ltd
• Mitsubishi Chemical Corporation
• Nippon Graphite Fiber Co. Ltd
• SGL Carbon
• Solvay
• Teijin Limited
• Toray Industries Inc.
• Zhongfu Shenying Carbon Fiber Co. Ltd

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Conclusion

The carbon fiber market is expected to continue expanding rapidly as global industries seek materials that offer high strength, low weight, and long-term durability. Growing adoption in wind energy systems, aerospace technologies, and infrastructure reinforcement is contributing to sustained demand. With Europe holding the largest market share and PAN-based fibers dominating production, manufacturers are investing in capacity expansion and new processing technologies. Increasing infrastructure renovation needs, along with rising demand for renewable energy, will play a central role in shaping market growth. Over the next decade, carbon fiber will remain a vital material supporting innovation and sustainable development across multiple industries.