(MENAFN- GlobeNewsWire - Nasdaq) The global carbon fiber market is projected to grow from USD 6.41 billion in 2026 to USD 9.07 billion by 2031, registering a 7.2% CAGR. Demand is rising across aerospace, automotive, wind energy, hydrogen storage, healthcare and electronics due to carbon fiber's lightweight strength, stiffness and corrosion resistance. Virgin carbon fiber leads the market, while pressure vessels are the fastest-growing end-use segment. Asia Pacific is expected to record the highest regional growth, supported by industrialization and advanced manufacturing investments.Dublin, Sept. 16, 2026 (GLOBE NEWSWIRE) -- "Carbon Fiber Market by Raw Material Type, Fiber Type, Modulus, Product Type, Application, End-use Industry, Region - Forecast to 2031" has been added to ResearchAndMarkets.com's offering.
Carbon Fiber Market to Reach USD 9.07 Billion by 2031 as Pressure Vessel Demand and Asia Pacific Investments Accelerate
The global carbon fiber market is estimated at USD 6.41 billion in 2026 and is projected to reach USD 9.07 billion by 2031, expanding at a compound annual growth rate (CAGR) of 7.2% during the forecast period. Market growth is being supported by demand for lightweight, high-performance materials in aerospace and defense, automotive, wind energy, pressure vessels, electronics, healthcare, construction, infrastructure, and other advanced industrial applications.
Pitch-based carbon fibers, produced from petroleum-based pitch, offer tensile strength exceeding 5 GPa, specific stiffness approximately twice that of aluminum, high thermal stability, thermal conductivity, corrosion resistance, chemical resistance, and enhanced fatigue performance. Their ability to withstand extreme temperatures and dissipate heat supports adoption in demanding and heat-sensitive applications. Pitch-based fibers can also provide greater manufacturing precision than polyacrylonitrile (PAN)-based fibers in selected applications.
Virgin carbon fiber maintains the largest market share by value
Virgin carbon fiber accounted for the largest share of the carbon fiber market by value, supported by its strength, stiffness, low weight, chemical resistance, durability, consistent quality, and structural integrity. It remains widely used in aerospace and defense, automotive, wind energy, sporting goods, and pressure vessel applications, where reliable performance and established manufacturing processes are essential.
Industries are increasing their use of lightweight materials to improve fuel efficiency, strengthen structural performance, and reduce emissions from aircraft, vehicles, and renewable energy systems. Although recycled carbon fiber is gaining momentum as a lower-cost and more sustainable alternative, virgin carbon fiber continues to dominate advanced composite applications requiring dependable mechanical performance.
High-modulus and long carbon fibers support specialized applications
High-modulus carbon fiber represented the third-largest market segment by value. With carbon content typically exceeding 98% and a modulus of elasticity generally above 370 GPa, these fibers deliver exceptional stiffness, dimensional stability, and thermal performance. Demand is concentrated in aerospace components, satellites, defense systems, sporting goods, and precision industrial equipment requiring lightweight structures, minimal flex, and high accuracy.
Long carbon fiber also held the third-largest share by value within the product-type category. Typically measuring more than 1 mm, long fibers provide greater tensile strength, stiffness, impact resistance, and fatigue performance than short carbon fibers. Key applications include wind turbine blades, aircraft structures, high-performance automotive components, motorsports, and Formula 1 vehicles exposed to sustained mechanical stress and demanding operating conditions.
Non-composite carbon fiber applications expand across electronics and healthcare
The non-composites segment accounted for the second-largest share of the global carbon fiber market by value. Growth is being driven by specialty applications that use carbon fiber's mechanical, thermal, and electrical properties outside conventional composite structures.
Electronic and electrical applications include heat sinks, electromagnetic interference shielding, semiconductors, advanced batteries, and fuel cell components. In medical and healthcare markets, carbon fiber is gaining adoption in surgical instruments, prosthetics, orthopedic devices, and medical imaging equipment due to its biocompatibility, low weight, and radiolucency. Continued technological development across electronics, healthcare, and industrial markets is expected to strengthen demand for non-composite carbon fiber products.
Pressure vessels projected to become the fastest-growing end-use industry
The pressure vessels industry is forecast to register the fastest growth during the period from 2026 to 2031. Demand is increasing for lightweight, high-pressure storage systems used in hydrogen, compressed natural gas (CNG), aerospace, transportation, and industrial applications.
Carbon fiber pressure vessels are commonly manufactured through filament winding, with high-strength tows wound over a liner or mandrel. These vessels can be up to 75% lighter than conventional steel or aluminum alternatives while providing high strength, corrosion resistance, fatigue resistance, pressure capability, durability, and extended service life. Growing investment in hydrogen infrastructure, fuel cell vehicles, and alternative-fuel storage technologies is expected to accelerate global adoption.
Asia Pacific forecast to record the highest regional growth
Asia Pacific is projected to achieve the highest carbon fiber market growth rate during the forecast period. Expansion is linked to rapid industrialization, increasing automotive and aerospace production, growing manufacturing activity, and demand for lightweight materials.
Japan, China, and South Korea are investing in advanced carbon fiber manufacturing and composite technologies for aerospace, automotive, infrastructure, and industrial applications. Regional innovation is being supported by established producers and technology leaders, including Toray Industries, Inc. and Mitsubishi Chemical Group Corporation.
Competitive landscape
Companies covered in the carbon fiber market analysis include Toray Industries, Inc. (Japan), DowAksa (Turkey), Mitsubishi Chemical Group Corporation (Japan), Syensqo (Belgium), Teijin Limited (Japan), SGL Carbon (Germany), Hexcel Corporation (US), HS Hyosung Advanced Materials (South Korea), Zhongfu Shenying Carbon Fiber Co., Ltd. (China), Kureha Corporation (Japan), Osaka Gas Chemicals Co., Ltd. (Japan), UMATEX (Russia), Jilin Chemical Fiber Group Co., Ltd. (China), Jiangsu Hengshen Co., Ltd. (China), and China National Bluestar (Group) Co., Ltd. (China).
The competitive assessment examines market shares, business portfolios, products and services, growth strategies, investments, recent developments, and innovation initiatives. It also evaluates emerging startups operating across the carbon fiber market ecosystem.
Carbon fiber market research coverage
The research categorizes the market by raw material type into PAN and pitch; by fiber type into virgin and recycled; by modulus into standard, intermediate, and high; by product type into continuous, long, and short; and by application into composites and non-composites.
End-use industries covered include aerospace and defense, automotive, wind energy, pipe, pressure vessels, sporting goods, construction and infrastructure, medical and healthcare, and marine. Regional analysis encompasses North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
The study assesses market drivers, restraints, opportunities, and challenges. Key growth drivers include increased manufacturing of satellite components, strong aerospace and defense demand, stricter environmental regulations encouraging lightweight automotive applications, expanding wind energy capacity, and rising use of regular-tow carbon fiber in pressure vessels.
Market restraints include high production costs, limited standardization among manufacturing technologies, repair challenges, and compatibility issues. Challenges also include capital-intensive production, complex manufacturing processes, recyclability constraints, and the continuing need to produce lower-cost carbon fiber.
Opportunities include investment in low-cost coal-based carbon fibers, expansion into new applications, increasing demand for fuel cell electric vehicles, wider use of carbon fiber in 3D printing, and advancements in carbon fiber recycling technologies. The report also examines upcoming technologies, research and development programs, product and service launches, untapped geographies, recent investments, and regional market-development opportunities.
Research methodology and primary validation
The findings were validated through primary interviews with global industry experts. By company type, respondents comprised 40% from Tier 1 companies, 33% from Tier 2 companies, and 27% from Tier 3 companies. By designation, the respondent base included 50% C-level executives, 30% directors, and 20% managers.
Regional participation consisted of Europe at 50%, Asia Pacific at 20%, North America at 15%, the Middle East and Africa at 10%, and Latin America at 5%. The resulting analysis provides revenue estimates for the overall carbon fiber market and its subsegments, while helping established companies and new entrants assess competitive positioning, go-to-market strategies, innovation priorities, and future investment opportunities.
Key Attributes:
CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager...
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Comments
No comment