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Carbon Fiber Market to Reach US$ 52.16 Billion By 2050 | Astute Analytica

By Globenewswire February 7, 2025 • 6:40 pm

Carbon fiber market growth is propelled by extraordinary strength-to-weight ratio, versatility across industries, and sustainable transportation.

New Delhi, Feb. 07, 2025 (GLOBE NEWSWIRE) — The global carbon fiber market valuation is poised to reach US$ 52.16 billion by 2050, with a CAGR of 11.07% during the forecast period from 2024 to 2050.

In the last few years, modern global industries have witnessed exponential growth in the adoption and utilization of carbon fiber, a material known for its incredible strength-to-weight ratio, rivaling even that of steel. With an annual global production of about 104,000 metric tons in the carbon fiber market, carbon fiber’s versatility is evident across many applications. From the skies above to the roads below, and from the depths of the ocean to the boundaries of sports, this lightweight and durable material has made an unbeatable mark.

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In the rapidly growing market, the aerospace industry alone consumes a staggering 27,000 metric tons of carbon fiber each year, signifying its important role in aircraft manufacturing. The automotive sector, in its relentless pursuit of speed, innovation, and efficiency, utilizes roughly 18,500 metric tons of carbon fiber per annum. This material not only improves vehicle strength but significantly decreases their weight, paving the way for the future of electric vehicles. As per Astute Analytica’s estimates, EVs will lead to an additional demand of approximately 10,000 metric tons of carbon fiber by 2030, attesting to the shifting paradigms of sustainable transportation. As people transition to greener energy sources, even the wind energy sector is not behind, harnessing more than 20,000 metric tons of carbon fiber to craft resilient and efficient turbine blades annually in the global carbon fiber market.

The Rise of Sustainable Urban Infrastructure

The rapid urbanization associated with the rising demand for sustainable infrastructure has set the stage for carbon fiber to become the linchpin in modern city development. According to the United Nations, 68% of the global population is estimated to live in urban areas by 2050, up from the current 55%. This surging urban populace necessitates infrastructure that is not only durable but also environmentally friendly. Carbon fiber composites, with their unmatched strength-to-weight ratio and resistance to environmental degradation, have seen a surge in demand, particularly in bridge and building construction. Recent studies in the global carbon fiber market show that the application of carbon fiber in structural strengthening and retrofitting has increased at an impressive 14% CAGR over the last five years. Furthermore, approximately 3,500 metric tons of carbon fiber was specifically used in 2022 for urban infrastructure purposes alone.

Apart from this, the reduction of CO2 emissions resulting from the application of carbon fiber in construction is further supporting the product demand around the globe. Lighter structures, facilitated by carbon fiber, lead to a drop in construction material transport emissions by up to 18%. As cities worldwide grapple with pollution and environmental concerns, the potential carbon savings delivered by carbon fiber in construction make it an even more attractive proposition for urban planners and developers.

Polyacrylonitrile (PAN) Type Carbon Fiber Leads Global Market in Precursor Types

Polyacrylonitrile (PAN) type carbon fiber emerges as the dominant segment in the global carbon fiber market based on precursor types. With the segment holding an overwhelming market share of 73.31%, PAN’s dominance is a testament to its superior properties and widespread industrial applicability. This precursor type has been necessary for many industries, going from aerospace to automotive, due to its high tensile strength and lightweight nature. Financially, the PAN segment’s dominance translates to billions in revenue, with projections suggesting a steady upward trajectory at an impressive growth rate of 11.09%, showing strong future growth. Furthermore, of the total carbon fiber production globally, more than two-thirds is projected to be of the PAN type. This statistic further highlights PAN’s key role in shaping the future of the carbon fiber industry. As technological advancements push the boundaries of material science, PAN-type carbon fiber, with its unparalleled attributes and cost-effectiveness, is poised to lead the market segment’s charge in the coming years.

T300-T700 Standard Modulus Dominates Global Carbon Fiber Market, While T800-T1100 Shows Promising Growth

By modulus, the standard modulus range, particularly T300 -T700, commands an imposing market share of 82.05% of the global carbon fiber market. This can be attributed to the balance of strength and flexibility delivered by the standard modulus makes it the go-to choice for a plethora of industries, from automotive manufacturing to sports equipment design. Financially, the extensive consumption of T300-T700 translates to billions in revenue, marking its key role in shaping the economic dynamics of the carbon fiber industry.

The future of intermediate modulus carbon fibers, specifically grades like T800 and T1100, appears very promising. While these materials may not yet rival the market dominance of standard modulus fibers, their estimated growth rate of 11.50% emphasizes their rising adoption and significance. This growth is propelled by their unique balance of strength, stiffness, and lightweight properties, which make them highly desirable for advanced applications in industries such as sports equipment, aerospace, and high-performance automotive manufacturing. For instance, T800 carbon fiber is noted for being stronger and lighter than T700, with an 11% advancement in tensile strength, making it a preferred option for applications requiring improved performance without compromising weight.

Similarly, T1100, another intermediate modulus fiber, is gaining traction for its advanced properties, which cater to advanced industrial and aerospace requirements. This rapid growth trajectory reflects a broader trend in the materials science industry, where intermediate modulus fibers are increasingly recognized as a sweet spot between standard and high modulus fibers. They deliver a compelling combination of processability, affordability, and performance, which positions them as a critical material for the future of lightweight, high-strength composite structures.

Key Companies:

  • Advanced Composites Inc.
  • BASF SE
  • Formosa M Co. Ltd
  • Hexcel Corporation
  • Mitsubishi Chemical Carbon Fiber & Composites Inc.
  • Nippon Graphite Fiber Co. Ltd.
  • SGL Group
  • Solvay
  • Teijin Limited
  • Toray Industries Inc
  • Zoltek Corporation
  • Other Prominent players

Key Segmentation:

By Precursor Type

  • PAN Type Carbon Fibre
  • Pitch Type Carbon Fibre

By Tow Size

  • 1-12 k
  • 24-48 k
  • >48 k

By Modules

  • Standard Modulus (T300 -T700)
  • Intermediate Modulus (T800-T1100)
  • High Modulus (M35-M60)

By End User

  • Aerospace & Defence
    • Civil wide body
    • Civil narrow body
    • EVtol/drones
    • Military
    • Other
  • Automotive
    • Supercars
    • Premium vehicles (gasoline)
    • Electric vehicles (EVs)
  • Pressure vessels / Hydrogen storage
    • CNG
    • Hydrogen storage Automotive
    • Hydrogen storage Aerospace
    • Hydrogen storage Ground
    • Hydrogen storage Rail
  • Pressure vessels / Hydrogen storage
    • CNG
    • Hydrogen storage Automotive
    • Hydrogen storage Aerospace
    • Hydrogen storage Ground
    • Hydrogen storage Rail
  • Wind & Energy
    • Wind on-shore
    • Wind off-shore
    • Tidal power
    • Fuel cells
    • Other
  • Infrastructure/civil
    • Buildings
    • Concrete re-bar
    • Trains
    • Other
  • Consumer
    • Bicycles
    • Marine
    • Consumer goods
    • Other

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)
  • South America

For more information about this report visit: https://www.astuteanalytica.com/industry-report/carbon-fiber-market

About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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