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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Carbon Fibre Market Outlook  

The global carbon fibre industry attained a value of about USD 3,821.39 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 11.9% to reach USD 10,511.25 million by 2032.

Europe is Expected to Lead the Market During the Forecast Period

Europe is expected to dominate the carbon fibre market due to the presence of established automotive, aerospace, defence, and wind energy industries. Companies such as BMW, Mercedes, Fiat, and Ferrari, among others, are emphasising on building low emission, environment friendly cars, low-weight, and fuel-efficient products which will directly increase the consumption of carbon fibre. Demand for aerospace is increasing due to rising demand for commercial aviation on account of increased disposable income and globalisation. Europe has many offshore wind energy installations, especially in the United Kingdom and Germany.

Global Carbon Fibre Market

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Impact of COVID-19 on the Carbon Fibre Industry

The COVID-19 pandemic has disrupted the growth of the carbon fibre industry. The production of various industries such as automotive, aerospace, and construction, among others, have been disrupted. Supply chain and operations management had been adversely affected due to lockdowns and restrictions, especially in 2020. The production and sales of motor vehicles had come to a sudden halt in most parts across the world. The aerospace and defence industry, major end-user of the product, took a major hit in 2020, due to COVID-19. Demand for commodities have decreased, manufacturers from major sectors require less carbon fibres.

Carbon Fibre Market Segmentation

Carbon fibre, also known as graphite fibre, is a composition of carbon atoms bonded together to form a long chain. They are about 5 to 10 micrometres in diameter. The carbon atoms are bonded together in crystals, aligned parallel to the long axis of the fibre as the crystal alignment gives the fibre a high strength-to-volume ratio. Thousands of fibres are bundled together to form a tow, which can be used by itself or woven into fabric. High stiffness, high tensile strength, low weight to strength ratio, high chemical resistance, high temperature tolerance, and low thermal expansion are some of the advantages of carbon fibres. These properties make it an ideal manufacturing material for various parts. The properties of a carbon fibres are close to that of steel and the weight is close to that of plastic. However, it is expensive compared to other fibres, such as plastic fibre, basalt fibre, or glass fibres.

Global Carbon Fibre Market

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The market can be broadly categorised on the basis of its raw material into:

  • Pan-Based Carbon Fibre
  • Pitch-Based Carbon Fibre and Rayon-Based Carbon Fibre

The major types of carbon fibre are:

  • Continuous Carbon Fibre
  • Long Carbon Fibre
  • Short Carbon Fibre

The market can be broadly categorised on the basis of its end-use segments into:

  • Aerospace and Defense
  • Alternative Energy
  • Automotive
  • Construction and Infrastructure
  • Sporting Goods
  • Others

The major forms of carbon fibre are:

  • Polymer Matrix Composites (PMC)
  • Metal Matrix Composites (MMC)
  • Ceramic Matrix Composites (CMC)

The EMR report looks into the regional markets of carbon fibre like North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Wide Applicability of Carbon Fibre in Major Industries is Driving the Market

Carbon fibres are lightweight, have tensile strength and impact resistance, which makes them fuel efficient and reliable for the use in aerospace and defence, sports, wind turbines, automotive, and among others. Wind turbines use carbon fibres because of the high tensile strength of carbon fibre which enables the wind turbines to withstand harsh weather conditions and lower weight enhances efficiency, consumption, and demand for renewable energy. Carbon fibre industry receives huge demand from the automotive sector owing to its superior strength-to-weight ratio which leads to weight reduction and increased fuel efficiency without compromising on the performance or safety. Carbon fibre is used in defence equipment. Polyacrylonitrile is the most versatile precursor for carbon fibre. Also known as Creslan 61, it is a synthetic semi-crystalline polymer resin. Almost 90% of carbon fibre is produced using PAN, propelling the demand for carbon fibre. Aerospace application segment contributed significantly towards the overall market share in terms of revenue as PAN-based carbon fibres make aircraft fuel-efficient. Pitch-based carbon fibres are increasingly used in satellite manufacturing. 3D printing also makes extensive use of carbon fibre.

Global Carbon Fibre Market

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Key Industry Players in the Global Carbon Fibre Market

The report presents a detailed analysis of the following key players in the global carbon fibre industry, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • SGL Carbon
  • Hexcel Corporation
  • Hyosung Advanced Materials
  • Mitsubishi Chemical Carbon Fiber and Composites, Inc.
  • Nippon Steel Chemical & Material Co., Ltd.
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Raw Material
  • Type
  • Form
  • End Use
  • Region
Breakup by Raw Material
  • Pan-Based Carbon Fibre
  • Pitch-Based Carbon Fibre 
Breakup by Type
  • Continuous Carbon Fibre
  • Long Carbon Fibre
  • Short Carbon Fibre
Breakup by Form
  • Polymer Matrix Composites (PMC)
  • Metal Matrix Composites (MMC)
  • Ceramic Matrix Composites (CMC)
Breakup by End Use
  • Aerospace and Defense
  • Alternative Energy
  • Wind Turbines
  • Automotive
  • Construction and Infrastructure
  • Sporting Goods
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • SGL Carbon
  • Hexcel Corporation
  • Hyosung Advanced Materials
  • Mitsubishi Chemical Carbon Fiber and Composites, Inc.
  • Nippon Steel Chemical & Material Co., Ltd.
  • Others
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Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

Carbon Fibre Market Report Snapshots

Carbon Fibre Market Size

Carbon Fibre Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global carbon fibre market attained a value of nearly USD 3,821.39 million.

The market is projected to grow at a CAGR of 11.9% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 10,511.25 million by 2032.

The major market drivers include the robust growth of the automotive, wind, and defence sectors, the rising demand for environmentally-friendly vehicles, and the increasing popularity of air travel.

The rising offshore wind energy installations, favourable properties of carbon fibres, and the rising use of pitch-based carbon fibres in satellite manufacturing are the key trends guiding the market growth.

The major regions in the carbon fibre market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Pan-based carbon fibre and pitch-based carbon fibre and rayon-based carbon fibre are the major raw materials of the product included in the market report.

The various carbon fibre types in the market are continuous carbon fibre, long carbon fibre, and short carbon fibre.

The several segments based on forms of the product considered in the market report are polymer matrix composites (PMC), metal matrix composites (MMC), and ceramic matrix composites (CMC).

The different end uses of the product are aerospace and defence, sports/ leisure, wind turbines, moulding and compounds, automotive, pressure vessels, civil engineering, marine, pultrusion misc., misc. consumer, and sailing/ yacht building, among others.

The major players in the market are SGL Carbon, Hexcel Corporation, Hyosung Advanced Materials, Mitsubishi Chemical Carbon Fiber and Composites, Inc., and Nippon Steel Chemical & Material Co., Ltd., among others.

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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124