Carbon Fiber Market by Raw Material Type, Fiber Type, Modulus, Application, End-Use

List of Tables

The Carbon Fiber Market was valued at USD 9.02 billion in 2023, expected to reach USD 10.09 billion in 2024, and is projected to grow at a CAGR of 11.99%, to USD 19.95 billion by 2030.

Carbon fiber is a strong, lightweight material consisting of thin, crystalline filaments of carbon, often used in composites to enhance strength and performance across a wide range of applications. The necessity of carbon fiber stems from its unique properties such as high tensile strength, low weight, high chemical resistance, high temperature tolerance, and low thermal expansion, making it indispensable in sectors like aerospace, automotive, construction, and sports equipment. Its applications vary from aircraft wings and car parts to sports gear such as bicycle frames and fishing rods, illustrating a diverse end-use scope. Key growth factors influencing the carbon fiber market include increasing demand for fuel-efficient vehicles, advancements in wind energy, and growing investment in aerospace and defense. The push for sustainable and lightweight materials in energy-intensive industries presents significant growth opportunities, with forecasts suggesting robust expansions. Additional opportunities are emerging from innovations in manufacturing technologies, such as the development of cost-effective production methods and enhancements in recycling practices, aimed at reducing carbon fiber's traditionally high costs.

KEY MARKET STATISTICS
Base Year [2023]	USD 9.02 billion
Estimated Year [2024]	USD 10.09 billion
Forecast Year [2030]	USD 19.95 billion
CAGR (%)	11.99%

Limitations affecting market growth include high production costs and the complex manufacturing processes associated with carbon fiber. Additionally, challenges such as the availability of raw materials and environmental concerns regarding its production and disposal are ongoing hurdles. Research and innovation should focus on advancing recycling techniques, reducing production costs, and enhancing material properties to overcome these limitations. The best areas for innovation include developing new resin systems compatible with carbon fiber, improving recycling methods, and exploring hybrid materials that combine carbon fiber with other substances. The market is dynamic, characterized by rapid technological advancements and a strong drive towards sustainable solutions, offering opportunities for businesses to innovate and expand. Understanding and addressing these challenges can lead to significant business growth, especially in emerging markets with evolving infrastructure and mobility needs.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Carbon Fiber Market

The Carbon Fiber Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Need for lightweight and strong composites in the automotive and aerospace industry
- Demand for eco-friendly composite products and manufacture of carbon fiber from sustainable materials
- Government initiatives for the development of carbon fiber and scaling carbon fiber recycling activities
Market Restraints
- Recall of products containing carbon fiber
Market Opportunities
- Technological advancements to improve performance and expand the applications of carbon fiber
- Expanding need for carbon fiber components in renewable energy projects
Market Challenges
- Technical failures and operational constraints of working with carbon fiber

Porter's Five Forces: A Strategic Tool for Navigating the Carbon Fiber Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Carbon Fiber Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Carbon Fiber Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Carbon Fiber Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Carbon Fiber Market

A detailed market share analysis in the Carbon Fiber Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Carbon Fiber Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Carbon Fiber Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Carbon Fiber Market

A strategic analysis of the Carbon Fiber Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Carbon Fiber Market, highlighting leading vendors and their innovative profiles. These include ACP Composites, Inc., Advanced Composites Inc., Avient Corporation, CeraMaterials, Clearwater Composites, LLC, Composite Manufacturing Inc, DowAksa Advanced Composites Holdings BV, EPSILON COMPOSITE SA, Gen 2 Carbon Limited, Hexcel Corporation, HYOSUNG ADVANCED MATERIALS, Kureha Corporation, Mid-Mountain Materials, Inc., Mitsubishi Chemical Corporation, Nippon Graphite Fiber Co., Ltd., Osaka Gas Chemicals Co., Ltd., SGL Carbon SE, Solvay S.A., Spartec Composites Inc, Taekwang Industries Co. Ltd., Teijin Limited, TIP composite Co., Ltd., Toray Industries, Inc., Umatex Group, and Zhongfu-Shenying Carbon Fiber Co. Ltd..

Market Segmentation & Coverage

This research report categorizes the Carbon Fiber Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Raw Material Type, market is studied across PAN-based Carbon Fiber and Pitch-based Carbon Fiber.
Based on Fiber Type, market is studied across Recycled Fiber and Virgin Fiber.
Based on Modulus, market is studied across High Modulus, Intermediate Modulus, and Standard Modulus.
Based on Application, market is studied across Catalysis, Composite Materials, Microelectrodes, and Textiles.
Based on End-Use, market is studied across Aerospace & Defense, Automotive, Construction & Infrastructure, Medical & Healthcare, and Renewable Energy.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-433AB1DC2866

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Need for lightweight and strong composites in the automotive and aerospace industry
  - 5.1.1.2. Demand for eco-friendly composite products and manufacture of carbon fiber from sustainable materials
  - 5.1.1.3. Government initiatives for the development of carbon fiber and scaling carbon fiber recycling activities
- 5.1.2. Restraints
  - 5.1.2.1. Recall of products containing carbon fiber
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements to improve performance and expand the applications of carbon fiber
  - 5.1.3.2. Expanding need for carbon fiber components in renewable energy projects
- 5.1.4. Challenges
  - 5.1.4.1. Technical failures and operational constraints of working with carbon fiber
5.2. Market Segmentation Analysis
- 5.2.1. Raw Material Type: High suitability of PAN-based Carbon Fiber owing to their high strength-to-weight ratio and exceptional tensile properties
- 5.2.2. Fiber Type: Emerging preferences for use of recycled carbon owing to environmental benefits
- 5.2.3. Application: Increasing suitability of carbon fiber as composite materials in various end use industries including automotive & aerospace
- 5.2.4. End-Use: High penetration in aerospace and defense industry owing to lightweight & high-strength materials
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Carbon Fiber Market, by Raw Material Type

6.1. Introduction
6.2. PAN-based Carbon Fiber
6.3. Pitch-based Carbon Fiber

7. Carbon Fiber Market, by Fiber Type

7.1. Introduction
7.2. Recycled Fiber
7.3. Virgin Fiber

8. Carbon Fiber Market, by Modulus

8.1. Introduction
8.2. High Modulus
8.3. Intermediate Modulus
8.4. Standard Modulus

9. Carbon Fiber Market, by Application

9.1. Introduction
9.2. Catalysis
9.3. Composite Materials
9.4. Microelectrodes
9.5. Textiles

10. Carbon Fiber Market, by End-Use

10.1. Introduction
10.2. Aerospace & Defense
10.3. Automotive
10.4. Construction & Infrastructure
10.5. Medical & Healthcare
10.6. Renewable Energy

11. Americas Carbon Fiber Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Carbon Fiber Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Carbon Fiber Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Hexcel Announced the Launch of Advanced Carbon Fiber for Aerospace Use
- 14.3.2. Reliance to Expand Carbon Fiber Facility in Gujarat, India
- 14.3.3. Toray and Lenovo Collaborate to Incorporate Recycled Carbon Fiber into ThinkPad Line
- 14.3.4. Toray Enhances Carbon Fiber Production Capacity in Europe
- 14.3.5. SGL Carbon Introduces New Carbon Fiber Specifically Designed for High-Strength Pressure Vessels
14.4. Strategy Analysis & Recommendation

Companies Mentioned

1. ACP Composites, Inc.
2. Advanced Composites Inc.
3. Avient Corporation
4. CeraMaterials
5. Clearwater Composites, LLC
6. Composite Manufacturing Inc
7. DowAksa Advanced Composites Holdings BV
8. EPSILON COMPOSITE SA
9. Gen 2 Carbon Limited
10. Hexcel Corporation
11. HYOSUNG ADVANCED MATERIALS
12. Kureha Corporation
13. Mid-Mountain Materials, Inc.
14. Mitsubishi Chemical Corporation
15. Nippon Graphite Fiber Co., Ltd.
16. Osaka Gas Chemicals Co., Ltd.
17. SGL Carbon SE
18. Solvay S.A.
19. Spartec Composites Inc
20. Taekwang Industries Co. Ltd.
21. Teijin Limited
22. TIP composite Co., Ltd.
23. Toray Industries, Inc.
24. Umatex Group
25. Zhongfu-Shenying Carbon Fiber Co. Ltd.