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Global Carbon Fibre Market Size, Share, Trends, Forecast: By Raw Material: Pan-Based Carbon Fibre, Pitch-Based Carbon Fibre; By Type: Continuous Carbon Fibre, Long Carbon Fibre, Short Carbon Fibre; By Form: Polymer Matrix Composites (PMC), Others; By End Use; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
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.
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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.
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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.
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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:
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| Breakup by Raw Material |
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| Breakup by Type |
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| Breakup by Form |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Carbon Fibre Market Analysis
8.1 Key Industry Highlights
8.2 Global Carbon Fibre Historical Market (2018-2023)
8.3 Global Carbon Fibre Market Forecast (2024-2032)
8.4 Global Carbon Fibre Market by Raw Material
8.4.1 Pan-Based Carbon Fibre
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Pitch-Based Carbon Fibre
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Carbon Fibre Market by Type
8.5.1 Continuous Carbon Fibre
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Long Carbon Fibre
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Short Carbon Fibre
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Carbon Fibre Market by Form
8.6.1 Polymer Matrix Composites (PMC)
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Metal Matrix Composites (MMC)
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Ceramic Matrix Composites (CMC)
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Carbon Fibre Market by End Use
8.7.1 Aerospace and Defense
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Alternative Energy
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Automotive
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Construction and Infrastructure
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Sporting Goods
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Others
8.8 Global Carbon Fibre Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Carbon Fibre Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Carbon Fibre Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Carbon Fibre Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Carbon Fibre Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Carbon Fibre Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 SGL Carbon
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Hexcel Corporation
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Hyosung Advanced Materials
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Mitsubishi Chemical Carbon Fiber and Composites, Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Nippon Steel Chemical & Material Co., Ltd.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Carbon Fibre Market: Key Industry Highlights, 2018 and 2032
2. Global Carbon Fibre Historical Market: Breakup by Raw Material (USD Million), 2018-2023
3. Global Carbon Fibre Market Forecast: Breakup by Raw Material (USD Million), 2024-2032
4. Global Carbon Fibre Historical Market: Breakup by Type (USD Million), 2018-2023
5. Global Carbon Fibre Market Forecast: Breakup by Type (USD Million), 2024-2032
6. Global Carbon Fibre Historical Market: Breakup by Form (USD Million), 2018-2023
7. Global Carbon Fibre Market Forecast: Breakup by Form (USD Million), 2024-2032
8. Global Carbon Fibre Historical Market: Breakup by End Use (USD Million), 2018-2023
9. Global Carbon Fibre Market Forecast: Breakup by End Use (USD Million), 2024-2032
10. Global Carbon Fibre Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Carbon Fibre Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Carbon Fibre Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Carbon Fibre Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Carbon Fibre Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Carbon Fibre Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Carbon Fibre Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Carbon Fibre Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Carbon Fibre Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Carbon Fibre Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Carbon Fibre Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Carbon Fibre Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Carbon Fibre Market Structure
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.
Analyst Review
The global carbon fibre market attained a value of USD 3,821.39 million in 2023, driven by the rising prevalence of carbon fibres in various industries. Aided by the growing application, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 11.9%. The market is projected to reach USD 10,511.25 million by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of raw material, the market can be divided into pan-based carbon fibre, pitch-based carbon fibre, and rayon-based carbon fibre. Based on its form, the carbon fibre industry can be segmented into composite polymer matrix composites (PMC), metal matrix composites (MMC), and ceramic matrix composites (CMC). On the basis of end users, the aerospace and defence sector accounts for the leading share in the industry. Based on its type, the carbon fibre industry can be segmented into continuous carbon fibre, long carbon fibre, and short carbon fibre, among others, with continuous carbon fibre accounting for the largest market share. The major regional markets for carbon fibre are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include SGL Carbon, Hexcel Corporation, Hyosung Advanced Materials, Mitsubishi Chemical Carbon Fiber and Composites, Inc. and Nippon Steel Chemical & Material Co., Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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