North America Carbon Fiber Market
North America 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 Country - Forecast to 2030
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The North America carbon fiber market is projected to reach USD 2.22 billion by 2030 from USD 1.57 billion in 2025, at a CAGR of 7.2% from 2025 to 2030. North America's carbon fiber market is mainly driven by the increasing demand for lightweight materials in high-performance applications, advancements in manufacturing processes, and growing investments in infrastructural projects. The growing adoption of lightweight and high-performance materials is driving the use of carbon fiber in various end-use industries to improve efficiency, performance, and durability.
KEY TAKEAWAYS
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By CountryThe US dominated the North America carbon fiber market with a share of 93.4%, in terms of value, in 2024.
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By ApplicationBy application, the composite segment is projected to grow at a CAGR of 7.2% during the forecast period, in terms of value.
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By Raw MaterialBy raw material, the PAN-based segment is projected to grow at a CAGR of 7.3% during the forecasted period, in terms of value.
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By Product TypeBy product type, the continuous carbon fiber segment is projected to register the highest CAGR during the forecast period.
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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, the recycled carbon fiber segment is expected to register highest CAGR during the forecast period.
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By End-use IndustryBy end-use industry, the pressure vessel sector is projected to witness the highest CAGR during the forecast period.
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Competitive Landscape - Key PlayersToray Industries Inc., Teijin Limited, SGL Carbon, and Syensqo are the star players in the North America 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 North American carbon fiber market is driven by very strong adoption in the aerospace, defence, and automotive industries, as well as the growing clean energy sectors. Growth in the use of carbon fiber for sporting goods, industrial machinery, marine structures, and construction reinforcement create new and growing markets and needs. The overall growth of the carbon fiber market is also supported by ongoing R&D in composite materials, processing improvements, and an established supply chain throughout North America.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
As demand for carbon fiber grows across various sectors, the North American carbon fiber market is evolving. Producers are shifting from traditional manufacturing methods to innovative techniques that reduce costs and incorporate recycled carbon fiber. Increasing environmental awareness has led manufacturers to use eco-friendly materials, while advancements in design automation are simplifying the integration of carbon fibers into complex assemblies. Despite these changes, producers will face competition from alternative products and must maintain viable supply chains and high-quality manufacturing practices. This competitive landscape is expected to drive growth in the capital and technology-intensive carbon fiber industry in North America.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
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Growth in manufacturing of satellite parts
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Increased use in wind energy industry
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High production cost
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Lack of standardization in manufacturing technologies
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Increased investments in development of low-cost coal-based carbon fibers
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Increasing 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: Growth in manufacturing of satellite parts
The carbon fiber market in North America is seeing a significant increase as a result of the increasing number of satellite component manufacturing facilities across the region. The increased number of small satellites, commercial constellations, and defence space hardware is creating a strong demand for lightweight, high-stiffness materials to enhance the efficiency of launching and the structural integrity of the satellite. Satellite panels, bus structures, booms, optical benches, and antenna supports are increasingly being manufactured using carbon fiber. Examples of this include satellite frames and payload structures manufactured by SpaceX and Northrop Grumman, which are manufactured using carbon fiber composites for mass reduction and better thermal stability. With the expanding supply chain of the space industry and the increased private investments into space technologies, there will continue to be an increasing demand for advanced composite materials throughout this region.
Restraint: High production cost
The high cost of carbon fiber is mostly associated with the cost of raw materials or precursors used in the production. The most commonly used precursor for carbon fiber manufacturing is the exceptionally costly precursor polyacrylonitrile (PAN), which necessitates a highly complex and detailed manufacturing process. Carbon fiber production is still relatively limited in scale compared to metals such as steel and aluminum, which leads to inefficiencies and a significant amount of waste. It requires specialized equipment and skilled personnel to ensure the material’s quality and consistency
Opportunity: Increasing demand for fuel cell electric vehicles (FCEVs)
As companies such as Ford, GM, and Tesla ramp up EV production and replace internal combustion with electric motors, they are also transitioning to carbon fiber reinforced composites for increasing efficiencies and overall performance. Several companies are now making carbon fiber composite battery enclosures, structural frames, vehicle exterior and inner panels, and components that are used for energy absorption during impact. Additionally, as suppliers' demand continues to grow in response to the rapid increase in the production of EV platforms and desire for energy efficiency improvements, the opportunity to supply carbon fiber parts to automobile manufacturers represents an emerging area of growth for suppliers in the North American carbon fiber market.
Challenge: Capital-intensive production and complex manufacturing process
Carbon fiber manufacturing is highly capital-intensive and requires heavy investments. New technologies need to be developed to produce low-cost carbon fiber and carbon fiber-reinforced plastic to commercialize end products. Production and development projects are undertaken to reduce the manufacturing costs of carbon fiber products through advanced technologies and process solutions. According to some industry experts, the production process of carbon fiber is complex and lengthy compared to other alternative products. The development of low-cost and simpler technologies for the commercial production of low-cost fiber composites is a major challenge for governments, research laboratories, and carbon fiber producers globally.
NORTH AMERICA CARBON FIBER MARKET: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
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Utilizes carbon fiber composites in aircraft fuselage and wings for commercial and defense aviation programs | Lightweight structure for fuel efficiency, high tensile strength, fatigue and corrosion resistance |
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Applies carbon fiber in EV body panels, interior components, and structural reinforcements | Improved range through weight reduction, enhanced performance, structural rigidity |
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Integrates carbon fiber composites in automotive chassis and body structures (e.g., BMW i-series) | Lightweighting for better acceleration and fuel economy, durability, reduced CO2 emissions |
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 North American market for carbon fiber is in the midst of an evolutionary process resulting from significant technological advancements in automation and high-speed composite processing, as well as the increasing utilization of additive manufacturing techniques. Manufacturers are adopting digitalized production technologies, which in turn require them to utilize materials that produce more consistent results and cure more quickly. In addition, as various industries continue to look for options that provide recyclability and shorter cycle times, a growing number of manufacturers are utilizing thermoplastic composites. Finally, the growth of the electric vehicle sector, the rising number of commercial space missions, and the development of next-generation aircraft have all led to increased demand for higher-performance fibers, which continues to drive innovation within the industry, reshape supply chain strategies, and increase competition among North American manufacturers.
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
North America Carbon Fiber Market, By Raw Material
Carbon fibers made from PAN dominate the market in North America due to their superior mechanical performance. PAN offers higher tensile strength, increased fatigue life, and consistent quality compared to pitch or rayon fibers, making it essential for commercial aircraft, electric vehicle lightweighting, military applications, and hydrogen gas pressure vessels. Established supply chains and strong relationships with aerospace and automotive OEMs enable quick qualification and a reliable material supply. With proven compatibility in mass production and automated techniques, PAN is positioned to maintain its leadership during the forecast period.
North America Carbon Fiber Market, By Fiber Type
Virgin carbon fiber led the overall market in 2024 as it offers higher tensile strength compared to recycled carbon fiber. These fibers can be used in layup, weaving, filament winding, braiding, and pultrusion processes to manufacture composite parts for various end-use industries, such as aerospace & defense, automotive, wind energy, pipes, and sporting goods. This fiber is robust enough for handling and processing during the manufacturing process. Virgin carbon fiber has long-term performance potential in terms of fatigue and environmental effects.
North America Carbon Fiber Market, By Product Type
In 2024, continuous carbon fiber accounted for the largest share in the North America carbon fiber market. It is composed of long, continuous strands of carbon atoms bonded together in a crystal alignment that provides the fibers with exceptional strength and stiffness. These fibers differ from chopped or short fibers in their superior mechanical properties due to the uninterrupted nature of the fibers. Continuous carbon fiber offers a high strength-to-weight ratio, making it stronger and lighter than steel or aluminum, making them crucial in industries where high strength and light weight are essential, such as aerospace & defense, automotive, and sporting goods.
North America Carbon Fiber Market, By Modulus
The North American market is dominated by standard modulus carbon fiber as it offers the best ratio of performance versus price for a wide range of composite applications. It meets the requirements of many industries where composites are used, including automotive structures, sporting goods, industrial equipment, wind turbine blades, and numerous secondary aerospace components, without the cost associated with intermediate or high-modulus grades. Standard modulus provides manufacturers with a consistent mechanical property profile, a wide level of design flexibility, and compatibility with high-volume production techniques such as automated fiber placement and resin transfer moulding. It is adopted extensively in applications where performance is important but cost also plays an important role in the purchasing decision.
North America Carbon Fiber Market, By Application
In 2024, composite materials led the overall market due to their exceptional strength, rigidity, and low weight. These characteristics make them ideal for industries such as aerospace, automotive, wind energy, sporting goods, medical, construction, and marine. In aerospace, carbon fiber replaces metals like aluminum to reduce aircraft weight. In automotive, it enhances fuel efficiency with lightweight components. Their applications include large wind turbine blades, fiber-reinforced plastics (FRP), CNG and hydrogen tanks, and high-performance sporting equipment like rackets and helmets. Available in forms such as prepregs, molding compounds, and woven fabrics, carbon fiber composites provide high stiffness, impact strength, corrosion resistance, and thermal stability.
North America Carbon Fiber Market, By End-use Industry
In 2024, the aerospace & defense industry dominated the carbon fiber market due to its critical need for lightweight, high-strength materials that improve fuel efficiency, reduce emissions, and enhance performance and safety in aircraft and defense systems. Carbon fiber is widely used in the structural components of aircraft and advanced weaponry, lightweight armor and ballistic protection, boosting mobility and survivability. Strong investments in next-generation aerospace technologies and the high value placed on durability and structural integrity drive the demand for carbon fiber composites.
REGION
US to be fastest-growing country in North America carbon fiber market during forecast period
The US is projected to register the highest growth in the North America carbon fiber market during the forecast period. This is due to the presence of a large number of companies in the aerospace, defence, automotive, and clean energy sectors. Investment in next-generation aircraft and expansion of EVs is spurring an increase in the need for high-performance and weight-efficient materials. The US also benefits from an innovative environment and strong investments into R&D for higher-end materials. It also has some of the largest producers and processors of carbon fiber in North America, creating the most competitive demand environment in the region.
NORTH AMERICA CARBON FIBER MARKET: COMPANY EVALUATION MATRIX
In the North America 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 |
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| Market Size in 2024 (Value) | USD 1.46 Billion |
| Market Forecast in 2030 (Value) | USD 2.22 Billion |
| Growth Rate | CAGR of 7.2% from 2025-2030 |
| Years Considered | 2022-2030 |
| Base Year | 2024 |
| Forecast Period | 2025-2035 |
| Units Considered | Value (USD Billion), Volume (Kilotons) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered |
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| Countries Covered | US, Canada |
WHAT IS IN IT FOR YOU: NORTH AMERICA 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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| North America-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
- March 2024 : Hexcel Corporation launched a new HexTow continuous carbon fiber, IM9 24K, providing the market with lightweight, strong, and durable carbon fiber with enhanced value for the world’s most advanced aerospace composite applications.
- February 2024 : Syensqo partnered with Trillium Renewable Chemicals to develop sustainable raw materials for carbon fiber applications. Trillium's bio-based acrylonitrile (Bio-ACN) is being evaluated by Syensqo for its potential in carbon fiber manufacturing, aiming to advance sustainable solutions from bio-based or recycled sources.
- 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.
Table of Contents
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Methodology
The study involves two major activities in estimating the current market size for the North America 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 North America Carbon Fiber Market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the North America 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.
Breakup of Primary Research:
Market Size Estimation
The research methodology used to estimate the size of the North America 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 North America 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 North America 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 global North America 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 North America Carbon Fiber Market