The global carbon fiber market was valued at USD 3.38 billion in 2019, growing at a CAGR of 11.0% during 2020-2025. The global carbon fiber market is growing at a significant rate, due to prevalent reorganization of the automotive industry. Growing number of aircraft in response to the rising travelers across the globes is another factor contributed to the growth of the global carbon fiber market. The market has witnessed a high demand for aerospace and automotive sector in current year and is expected to foresee exceptional sales in the environment and renewable energy sector in near future.

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Prevalent reorganization of the automotive industry facilitating the growth of the carbon fiber market. There was an extensive reorganization in the automotive sector in the past decade with the introduction of numerous technologies such as electric cars and hybrid vehicles, and regulations related to carbon emission and fuel efficiency. All these factors are encouraging the use of carbon composite materials in the automotive sector.
Besides, the demand for new commercial aircraft with larger capacity is growing rapidly with the rise in the number of air travelers is another driving factor for the market

Geographically, Asia Pacific is the largest carbon fiber market due to growing industrialization. APAC is the largest carbon fiber market in 2018 surpassing Europe and North America. The region comprises of some of the largest economies supporting the market growth. Japan is the second-largest carbon fiber manufacturer, with 25 metric tons of capacity in 2016. Numerous carbon fiber organizations based in Japan has supported significant research and development in the advanced material sector while supporting at least some domestic end-use markets such as the automotive sector creating a positive impact on the carbon fiber market growth in the region.

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Currently, there is a lot of organic as well as inorganic strategies adopted by the market stakeholders to sustain and expand their market presence. There is horizontal market integration among players such as SGL Carbon and Solvay collaboration to develop their composite materials based on large-tow intermediate modulus (IM) carbon fiber composites for aerospace primary structures.

Toray Industries, SGL Group, Mitsubishi Rayon Co., Ltd., Teijin Limited, Hexcel Corporation, Dowaksa, Solvay, Formosa Plastics Corporation, Jiangsu Hengshen Co. Ltd., Hyosung, Kureha, and ELG Carbon Fibre are the key players offering carbon fiber.

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