Carbon Fiber Composites Market To Reach $47.91 Billion By 2033

Carbon Fiber Composites Market Growth & Trends

The global carbon fiber composites market size is anticipated to reach USD 47.91 billion by 2033 and is expected to expand at a CAGR of 7.8% from 2025 to 2033, according to a new report by Grand View Research, Inc. The market is experiencing sustained growth as industries increasingly shift toward lightweight, high-strength materials to improve performance and efficiency. Aerospace, automotive, renewable energy, and industrial sectors continue to adopt carbon-fiber-reinforced polymers (CFRP) for structural and functional components.

Rising demand for fuel efficiency, emissions reduction, and high durability is driving the replacement of conventional metals with advanced composite systems. The market is also benefiting from the expansion of EV production and next-generation mobility platforms that require lightweight battery enclosures and structural components. Wind turbine blade manufacturing remains another strong growth engine. Substantial investment in high-performance materials, combined with the expanding footprint of carbon-fiber suppliers across key regions, further strengthens overall market momentum.

The demand for carbon fiber composites is increasing due to their superior mechanical properties, corrosion resistance, and design flexibility, which enable manufacturers to meet stringent performance and safety requirements. Aerospace OEMs, such as Boeing and Airbus, continue to integrate advanced composite structures into their newer aircraft models to reduce weight and improve fuel efficiency. In the automotive sector, the push for electrification is accelerating the use of carbon fiber in battery housings, body panels, and interior reinforcements. The wind energy sector relies heavily on carbon fiber to develop longer, stronger blades for high-capacity turbines. Consumer goods, sporting equipment, and industrial applications are also expanding the broader use of CFRP due to durability and aesthetic appeal.

Technological advancements are reshaping the market, with significant investments focused on enhancing material performance, improving production efficiency, and reducing costs. New high-strength, high-modulus carbon fiber grades are enabling the development of next-generation aerospace and industrial components. Automation technologies such as automated fiber placement (AFP) and automated tape laying (ATL) are helping manufacturers improve throughput and precision in composite part fabrication. Rapid-curing resins, out-of-autoclave (OOA) processes, and recyclable carbon fiber solutions are gaining traction to reduce cycle time and address sustainability concerns. Partnerships between composite manufacturers and recycling companies are promoting the use of closed-loop materials.

The market remains moderately consolidated, with major players such as Toray, Teijin, Hexcel, SGL Carbon, Zoltek, and Syensqo leading advancements in technology, production capacity, and global supply. These manufacturers are expanding facilities, launching new high-performance fiber grades, and forming strategic alliances with aerospace and automotive OEMs to secure long-term contracts. Emerging players and regional manufacturers are gaining presence by focusing on cost-effective, mid-grade fibers for wind energy, industrial, and infrastructure applications. Sustainability has become a core competitive theme, driving investments in bio-based precursors and carbon fiber recycling.

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Carbon Fiber Composites Market Report Highlights

• Asia Pacific dominated the global market, accounting for the largest revenue share of 34.6% in 2024, due to the strong aerospace, automotive, electronics, and industrial manufacturing ecosystems across China, Japan, and South Korea.

• The PAN-based carbon fiber segment held the largest revenue market share of 84.7% in 2024, due to its superior tensile strength, versatility, and wide applicability across aerospace, automotive, wind energy, and industrial sectors.

• The aerospace & defense segment held the largest revenue market share of 26.6% in 2024, due to its heavy reliance on lightweight, high-strength materials for aircraft structures, propulsion systems, UAVs, and defense-grade equipment.

Carbon Fiber Composites Market Segmentation

Grand View Research has segmented the global carbon fiber composites market on the basis of raw material, application, and region:

Carbon Fiber Composites Raw Material Outlook (Revenue, USD Million, 2021 - 2033)

• PAN-based Carbon Fiber

• Pitch-based Carbon Fiber

• Rayon-based Carbon Fiber

Carbon Fiber Composites Application Outlook (Revenue, USD Million, 2021 - 2033)

• Aerospace & Defense

• Automotive

• Wind Energy

• Industrial

• Construction & Infrastructure

• Others

Carbon Fiber Composites Regional Outlook (Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• Central & South America

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • Egypt

  • Qatar

  • Kuwait

List of Key Players in the Carbon Fiber Composites Market

• Toray Industries

• TEIJIN LIMITED

• Mitsubishi Chemical

• Hexcel

• SGL Carbon

• Syensqo

• DowAksa

• ZOLTEK

• Hyosung Advanced Materials

• Carbon Composites, Inc.