Asia Pacific Carbon Fiber Market
Asia Pacific Carbon Fiber Market by Raw Material Type (Pan, Pitch), By Fiber Type (Virgin, Recycled), By Modulus (Standard, Intermediate, High), By Product Type (Continuous, Long, Short), By Application (Composites, Non-Composites), By End-use Industry (Aerospace & Defense, Automotive, Wind Energy, Pipe, Pressure Vessels, Sporting Goods, Construction & Infrastructure, Medical & Healthcare, and Marine), By Region - Forecast to 2030
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The Asia Pacific carbon fiber market is projected to reach USD 1.61 billion by 2030 from USD 1.10 billion in 2025, at a CAGR of 7.9% from 2025 to 2030. The market is primarily propelled by rapid industrialization, expanding automotive and aerospace sectors, and rising demand for lightweight and high-strength materials. Increasing investments in renewable energy infrastructure and sporting goods also contribute significantly to market growth. Additionally, advancements in manufacturing technologies and government initiatives supporting innovation are accelerating the adoption of carbon fiber across diverse industries in the region.
KEY TAKEAWAYS
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By CountryJapan dominated the carbon fiber market with a share of 63.7% in terms of value in 2024.
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By Raw MaterialBy raw material, the PAN-based segment is projected to grow at the highest CAGR during the forecast period.
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By Product TypeBy product type, the continuous carbon fiber segment dominated the Asia Pacific carbon fiber market with a share of 90.0% in terms of value.
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By ModulusBy modulus, the intermediate modulus segment is expected to register the highest CAGR during the forecast period.
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By Fiber TypeBy fiber type, recycled carbon fiber is expected to register the highest CAGR during the forecast period.
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By ApplicationBy application, the composites segment held the largest share in the Asia Pacific carbon fiber market.
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By End-use IndustryBy end-use industry, the pressure vessel segment is projected to witness the highest CAGR of 11.0% during the forecast period.
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Competitive Landscape - Key PlayersToray Industries Inc., Teijin Limited, Mitsubishi Chemical Group Corporation (Japan), and Zhongfu Shenying Carbon Fiber Co., Ltd. (China) are star players in the Asia Pacific carbon fiber market, given their broad industry coverage and strong operational & financial strength.
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Competitive Landscape - StartupsChina Weihai Guangwei Composites Co., Ltd., Jilin Jiyan High-tech Fiber Co., Ltd., Nippon Graphite Fiber Co., Ltd., and Changsheng Technology Co., Ltd. have distinguished themselves among startups and SMEs due to their well-developed marketing channels and extensive funding to build their product portfolios.
The Asia Pacific carbon fiber market is expected to witness significant growth driven by rapid urbanization, expanding manufacturing capabilities, and increased investments in advanced materials. Strong demand from automotive, aerospace, and renewable energy sectors, particularly wind power, is fueling market expansion. Government initiatives promoting lightweight and energy-efficient materials are accelerating adoption of carbon fiber across countries. The region’s emerging economies are also focusing on technological innovation and infrastructure development, further boosting carbon fiber consumption.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
Changes in customer trends or disruptions affect consumers' businesses. These shifts influence the revenues of end users. As a result, the revenue changes for end users are likely to impact the revenues of carbon fiber suppliers, which, in turn, affect the revenues of carbon fiber manufacturers.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
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Rising demand from sporting goods industry
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Increasing use of carbon fiber in pressure vessels
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High cost of carbon fiber
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Lack of standardization in manufacturing technologies
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Growing demand for light weight materials in wind energy sector
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Increased demand for fuel cell electric vehicles (FCEVs)
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Production of low-cost carbon fiber
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Capital-intensive production and complex manufacturing process
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Driver: Rising demand from sporting goods industry
The demand for carbon fiber in the sporting goods industry is rising consistently as manufacturers and athletes seek lighter, stiffer, and more durable equipment that can enhance performance across both professional and recreational use. The material is now extensively used in bicycles, golf clubs, tennis racquets, hockey sticks, skis, snowboards, fishing rods, and various protective products, replacing metals and wood due to its high strength-to-weight ratio and effective vibration damping. It support higher swing speeds, improved energy transfer, and better user comfort.
Restraint: High cost of carbon fiber
Carbon fiber remains expensive mainly because its precursor materials, especially polyacrylonitrile (PAN), are costly and require capital-intensive, complex production routes that have not yet achieved the economies of scale seen in metals and commodity polymers. The conversion process from precursor to fiber involves multiple energy-intensive high-temperature steps (oxidation, carbonization, graphitization) and strict process control, demanding specialized equipment and skilled labor and leading to low yield and significant scrap. Global output is small compared with steel or aluminum. Recycling of carbon fiber composites is technically difficult and expensive, thereby limiting the contribution of lower-cost recycled fiber and keeping dependence on virgin material high.
Opportunity: Growing demand for light weight materials in wind energy sector
Carbon fiber is being increasingly used in the wind energy sector as it enables longer, lighter, and more durable turbine blades, which directly improve energy capture and lower the cost of electricity from wind farms. Unlike traditional glass fiber, carbon fiber offers much higher stiffness-to-weight and fatigue resistance. Hence, designers can increase rotor diameter without a proportional increase in mass and loads, a key requirement as land-based turbines exceed 3–5 MW and offshore machines move into the 10–20 MW class. The carbon fiber usage in wind blades is expected to multiply over the coming years, particularly in offshore projects where the need for very long blades and high performance makes its higher price more acceptable.
Challenge: Production of low-cost carbon fiber
Low-cost carbon fiber production focuses on both cheaper precursors and faster, less energy-intensive processing while still achieving acceptable mechanical properties for automotive, wind, and infrastructure applications. Conventional polyacrylonitrile (PAN) accounts for roughly half of fiber cost. Hence, researchers are replacing specialty PAN with textile-grade acrylic, lignin, or other economical polymers, combined with process innovations such as rapid oxidation and optimized stabilization–carbonization cycles to cut energy use and cycle time by more than 60%. These strategies aim to maintain sufficient tensile strength and stiffness while enabling high-throughput production, which is critical for mass-market composites where material price has been the main barrier to wider carbon fiber adoption.
ASIA PACIFIC CARBON FIBER MARKET: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
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Uses carbon-fiber reinforced plastics (CFRP) in high-end models and EV concept vehicles-body panels, roof structures, structural reinforcements, and interior trim for performance and weight saving | Significant vehicle mass reduction, improved energy efficiency in EVs/hybrids, potential range increase and fuel economy gains |
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Uses carbon-fiber composite parts in premium models and electric vehicle components | Weight reduction for improved range, ability to achieve premium finish and complex geometries, improved crash and stiffness characteristics |
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Uses carbon-fiber reinforcements in long-span turbine blades (especially for offshore and large-rotor designs) | Reduced blade mass and increased stiffness enabling larger rotor diameters, improved fatigue performance, higher power capture |
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High-volume and high-performance carbon-fiber frames, forks, and components for road triathlon and mountain bikes | Extremely high strength-to-weight ratio, tunable ride characteristic |
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET ECOSYSTEM
The carbon fiber ecosystem consists of identifying and analyzing the interconnected relationships among various stakeholders, such as raw material suppliers, manufacturers, distributors, contractors, and end users. Raw material suppliers provide precursors like PAN and pitch to carbon fiber producers. Manufacturers then apply processes such as spinning, stabilization, carbonization, graphitization, surface treatment, and sizing to produce carbon fiber. Distributors and suppliers act as the link between manufacturers and end users, helping to streamline the supply chain and improve operational efficiency and profitability.
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET SEGMENTS
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Asia Pacific Carbon Fiber Market, By Raw Material
PAN-based carbon fiber holds the largest share in the Asia Pacific carbon fiber market as it offers an excellent balance of high strength, stiffness, and durability at a relatively competitive cost, making it suitable for mass adoption in key industries like aerospace, automotive, and wind energy. A mature and large-scale PAN precursor supply chain is already established in countries such as China, Japan, and South Korea, which supports high production volumes and stable quality. These advantages, combined with growing regional demand for lightweight materials in EVs and renewable energy, reinforce the dominance of PAN-based grades over pitch based fibers.
Asia Pacific Carbon Fiber Market, By Fiber Type
In the Asia Pacific carbon fiber market, the recycled carbon fiber segment is expected to witness the fastest growth due to rapid industrialization and increasing government initiatives promoting sustainable manufacturing practices. The region's status as a global manufacturing hub, particularly for automotive and sporting goods, drives the demand for cost-effective alternatives to expensive virgin carbon fiber. Countries like China, Japan, and South Korea are heavily investing in recycling infrastructure and technologies, which has enhanced the quality and supply reliability of recycled fibers.
Asia Pacific Carbon Fiber Market, By Modulus
The standard modulus segment accounted for the largest share in the Asia Pacific carbon fiber market due to its cost-effectiveness, offering tensile strength of 500-700 Ksi at a lower price per unit compared to high or intermediate modulus variants. This makes it ideal for high-volume applications in rapidly growing sectors like automotive, wind energy, and general manufacturing. Its versatility in processing for filament winding, weaving, and prepregging further boosts adoption across aerospace, sporting goods, and infrastructure, outpacing premium segments in the region's price-sensitive markets.
Asia Pacific Carbon Fiber Market, By Product Type
Based on product type, continuous carbon fiber holds the largest share in the Asia-Pacific carbon fiber market as it is the preferred form for high-performance structural composites in automotive, aerospace, and wind energy applications, where long, continuous fibers are essential for load-bearing parts. Its superior mechanical properties such as high tensile strength and stiffness along the fiber direction, make it ideal for lightweighting in EVs, aircraft components, pressure vessels, and wind turbine blades. In addition, strong regional manufacturing bases for prepregs, woven fabrics, and carbon fiber composites are optimized around continuous tow/filament formats, reinforcing its dominance over short or chopped fiber forms.
Asia Pacific Carbon Fiber Market, By Application
The composites segment accounted for the largest share in the Asia Pacific carbon fiber market. Carbon fiber-reinforced composites offer very high strength-to-weight ratios, durability, and corrosion resistance, which are critical for automotive, aerospace, and wind energy applications in the region. Rapid growth in electric vehicles, wind turbine installations, and high-performance industrial components is driving large-volume adoption of carbon fiber composites over metals and conventional materials. Moreover, robust manufacturing infrastructure across the region paired with substantial investments in cutting-edge composite fabrication technologies renders high-volume carbon fiber composite production more economical, solidifying the segment's leading position.
Asia Pacific Carbon Fiber Market, By End-use Industry
The aerospace & defense industry holds the largest share of the Asia Pacific carbon fiber market. Aircraft and defense platforms demand materials with very high strength-to-weight ratios, stiffness, and fatigue resistance to improve performance and fuel efficiency. Extensive use of carbon fiber in primary structures such as fuselages, wings, and engine components of modern commercial and military aircraft significantly increases volume consumption compared with other end-use sectors. Tightening fuel-efficiency and emissions norms in aviation are pushing manufacturers to replace traditional metals with advanced composite materials, which strengthens the position of aerospace and defense as the leading end-use sector for carbon fiber in the region.
REGION
China to be fastest-growing country in Asia Pacific carbon fiber market during forecast period
China is expected to be the fastest-growing country in the Asia Pacific carbon fiber market. The country is witnessing strong downstream demand (EVs, wind energy, aerospace, rail and high-end industrial equipment) with large-scale, cost-competitive manufacturing and aggressive capacity expansions by domestic producers. Rapid industrialization and infrastructure investment are accelerating adoption of lightweight, high-strength composite materials, while government initiatives promoting advanced materials, green manufacturing, and technological upgrading are driving localized production of carbon fiber, positioning China as the region’s primary growth engine.
ASIA PACIFIC CARBON FIBER MARKET: COMPANY EVALUATION MATRIX
In the Asia Pacific carbon fiber market matrix, Toray Industries, Inc. (Star) leads with a strong market share and extensive product footprint, which are widely adopted in aerospace & defense, automotive, sporting goods, and wind energy industries. Zhongfu Shenying Carbon Fiber Co., Ltd. (Emerging Leader) is gaining visibility as it focuses on innovation and backs this with high-performance carbon fibers for wind blades, sports, pressure vessels, and the construction sector. While Toray Industries, Inc. dominates through scale and a diverse portfolio, Zhongfu Shenying Carbon Fiber Co., Ltd. shows significant potential to move toward the leaders’ quadrant as demand for carbon fiber continues to rise.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
KEY MARKET PLAYERS
- 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)
- China National Bluestar (Group) Co., Ltd. (China)
MARKET SCOPE
| REPORT METRIC | DETAILS |
|---|---|
| Market Size in 2024 (Value) | USD 1.02 Billion |
| Market Forecast in 2030 (Value) | USD 1.61 Billion |
| Growth Rate | CAGR of 7.9% from 2025 to 2030 |
| Years Considered | 2022-2030 |
| Base Year | 2024 |
| Forecast Period | 2025-2030 |
| Units Considered | Value (USD Billion), Volume (Kiloton) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | By Raw Material Type (Pan, Pitch), By Fiber Type (Virgin, Recycled), By Modulus (Standard, Intermediate, High), By Product Type (Continuous, Long, Short), By Application (Composites, Non-Composites), By End-use Industry (Aerospace & Defense, Automotive, Wind Energy, Pipe, Pressure Vessels, Sporting Goods, Construction & Infrastructure, Medical & Healthcare, and Marine) |
| Countries Covered | Japan, China, Taiwan, South Korea, Rest of Asia Pacific |
WHAT IS IN IT FOR YOU: ASIA PACIFIC CARBON FIBER MARKET REPORT CONTENT GUIDE
DELIVERED CUSTOMIZATIONS
We have successfully delivered the following deep-dive customizations:
| CLIENT REQUEST | CUSTOMIZATION DELIVERED | VALUE ADDS |
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| APAC-based Carbon Fiber Manufacturers |
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| Composite Component Manufacturers/OEMs |
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| Raw Material Suppliers |
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| End Users (Aerospace, Automotive, Wind, Construction) |
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RECENT DEVELOPMENTS
- January 2024 : Toray Industries, Inc. launched a high-performance carbon fiber that is 20% stronger than other fibers in the TORAYCA MX series. TORAYCA M46X exhibits a high tensile modulus exceeding 350 GPa, making it suitable for demanding applications where weight is a major concern.
- December 2023 : Toray Industries, Inc. collaborated with Lenovo to integrate recycled carbon fiber (rCF) into the Lenovo ThinkPad X1 Carbon Gen 12 as reinforcement filler for thermoplastic pellets.
- October 2023 : Mitsubishi Chemical Group acquired CPC SRL, a renowned Italian company specializing in the manufacture and distribution of automobile components crafted from carbon fiber reinforced plastic (CFRP). This pivotal acquisition that began with minority ownership in 2017 aligns with MCG Group’s long-term strategic vision to further expand and enhance its vertically integrated carbon fiber supply chain.
Table of Contents
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Methodology
The study involves two major activities in estimating the current market size for the Asia Pacific Carbon Fiber Market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering carbon fiber and information from various trade, business, and professional associations. Secondary research has been used to obtain critical information about the industry’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. The secondary data was collected and analyzed to arrive at the overall size of the Asia Pacific Carbon Fiber Market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the Asia Pacific Carbon Fiber Market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as chief experience officers (CXOs), vice presidents (VPs), business development/marketing directors, product development/innovation teams, related key executives from the carbon fiber industry, system integrators, component providers, distributors, and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to raw material type, fiber type, modulus, product type, application, end-use industry, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customers/end users who are seeking carbon fiber services, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of carbon fiber and future outlook of their business which will affect the overall market.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The research methodology used to estimate the size of the Asia Pacific Carbon Fiber Market includes the following details. The market sizing was undertaken from the demand side. The market was upsized based on the demand for carbon fiber in different applications at the regional level. Such procurements provide information on the demand aspects of the carbon fiber industry for each application. For each application, all possible segments of the Asia Pacific Carbon Fiber Market were integrated and mapped.
Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Carbon fiber is a long, thin strand of material made from carbon. It is produced by baking precursors, such as polyacrylonitrile (PAN), pitch, and rayon, in an inert atmosphere to dissociate elements other than carbon through a process called pyrolysis. Carbon fiber is lightweight and has excellent strength, low specific gravity, excellent modulus of elasticity, and high corrosion resistance. There are different types of carbon fibers, including high-strength (HS)/standard modulus, intermediate modulus, and high-modulus, each with varying mechanical properties. Carbon fibers used as composite materials are used to make aircraft & spacecraft parts, bicycle frames, pipes & tanks, wind blades, golf shafts, badminton rackets, automobile springs, sailboat masts, automotive structural parts, and various other parts where lightweight and high strength are required. Non-composite applications of carbon fiber include filtration materials, conductive electrodes in batteries and supercapacitors, heat shields, industrial brushes, and electrical components, utilizing its strength, conductivity, and heat resistance in various industries.
Stakeholders
- Carbon Fiber Manufacturers
- Carbon Fiber Distributors and Suppliers
- Universities, Governments, and Research Organizations
- Associations and Industrial Bodies
- R&D Institutes
- Environmental Support Agencies
- Investment Banks and Private Equity Firms
- Research and Consulting Firms
Report Objectives
- To define, describe, and forecast the Asia Pacific Carbon Fiber Market size in terms of volume and value
- To provide detailed information regarding the key factors, such as drivers, restraints, opportunities, and challenges influencing the market growth
- To analyze and project the Asia Pacific Carbon Fiber Market by raw material type, fiber type, modulus, product type, application, end-use industry, and region
- To forecast the market size concerning five main regions (along with country-level data), namely, North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America, and analyze the significant region-specific trends
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions of the submarkets to the overall market
- To analyze the market opportunities and the competitive landscape for stakeholders and market leaders
- To assess recent market developments and competitive strategies, such as agreements, contracts, acquisitions, and product developments/product launches, to draw the competitive landscape
- To strategically profile the key market players and comprehensively analyze their core competencies
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Growth opportunities and latent adjacency in Asia Pacific Carbon Fiber Market