Carbon Fiber Market Size

Carbon Fiber Market size was valued at USD 6.4 billion in 2024 and is set to exceed USD 24.56 billion by 2037, expanding at over 10.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of carbon fiber is estimated at USD 6.96 billion.

The forthcoming advancements in the vehicle, aviation and defense, and wind energy sectors would boost market development. The entire market is expected to be driven by rising automobile demand and an increased desire for compact automobiles. The demand for fuel-efficient vehicles, as well as stringent government laws governing carbon emissions, are boosting the market landscape. As of 2020, the wind energy industry accounted for around 23% of global carbon fiber consumption, making it the largest carbon fiber-using industry. The aircraft sector was the second-largest carbon fiber consumer, accounting for 20% of world consumption. As of 2020, the wind energy industry accounted for around 23% of global carbon fiber usage, making it the largest carbon fiber-using industry. The aircraft sector was the second-largest carbon fiber consumer, accounting for 20% of world consumption.

The market growth is also attributed to the growing need for commercial aviation as a consequence of increased financial resources and globalization has fueled expansion in the aerospace industry over the past decade. This tendency is expected to endure during the predicted period. The growth in demand for recreational and sports applications, particularly in Asia Pacific, is also expected to broaden the product reach.