Carbon Fiber Market Projected to Reach USD 9.07 Billion by 2031
Growing demand for lightweight, high-strength materials drives adoption across aerospace, automotive, wind energy and industrial applications
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 CAGR of 7.2% during the forecast period. Market growth is being supported by rising demand for lightweight, high-strength and durable materials across aerospace & defense, automotive, wind energy, pressure vessels, sporting goods and industrial applications.
Advancements in carbon fiber manufacturing, including automated production, recycling technologies and low-cost precursor development, are also improving production efficiency, material performance and scalability.
Asia Pacific Expected to Record Fastest Market Growth
Asia Pacific is projected to register the highest CAGR in the carbon fiber market during the forecast period.
Growth across China, Japan, South Korea and India is being supported by demand from aerospace & defense, automotive, wind energy and industrial sectors. Rising electric vehicle production, expanding renewable energy investments and the presence of major carbon fiber manufacturers are contributing to regional market expansion.
The increasing use of lightweight and high-performance materials in transportation and infrastructure applications is further strengthening the region's position in the global carbon fiber market.
Recent Developments in the Carbon Fiber Market
March 2026: Fairmat and Syensqo expanded their partnership to recycle carbon-fiber composite waste on a larger scale. Syensqo’s Östringen site is now supplying scrap to Fairmat’s circular materials process, supporting a move from pilot-scale recycling toward a more industrial supply chain for composite waste. The recycled materials are intended for applications including mobility, sports, construction and energy.
March 2026: Aksa Carbon joined Carbon Fiber Europe, the European Carbon Fiber Alliance launched by EuCIA. The alliance includes Hexcel, Mitsubishi Chemical Europe, Teijin and Toray, and aims to promote the positive contributions of carbon fiber products while supporting their safe and sustainable use in Europe.
January 2026: Toray Composite Materials America, Inc., a subsidiary of Toray, entered into a long-term carbon fiber supply agreement with Syensqo. The agreement is intended to strengthen supply stability for aircraft, space and defense applications amid rising demand and supply-chain volatility.