Global Carbon Fiber Market (2026-2031) Forecast to Reach 562.77 Kilotons by 2031 as Hydrogen Mobility, Offshore Wind and Lightweighting Accelerate Demand

Global Carbon Fiber Market (2026-2031) Forecast to Reach 562.77 Kilotons by 2031 as Hydrogen Mobility, Offshore Wind and Lightweighting Accelerate Demand Dublin, Sept. 29, 2026 (GLOBE NEWSWIRE) -- "Carbon Fiber - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)" has been added to ResearchAndMarkets.com's offering.

The global carbon fiber market is projected to expand from 207.83 kilotons in 2025 to 245.37 kilotons in 2026 before reaching 562.77 kilotons by 2031. This represents a compound annual growth rate of 18.06% from 2026 to 2031. Market growth is being supported by rising demand for lightweight, high-strength materials across hydrogen mobility, offshore wind energy, aerospace, defense, electric vehicles and advanced industrial applications.

Hydrogen and CNG Pressure Vessels Drive Carbon Fiber Demand

Growing production of hydrogen and compressed natural gas pressure vessels is strengthening the outlook for the carbon fiber market. Type IV cylinders using polymer liners wrapped with carbon fiber are becoming central to 700-bar storage systems for fuel-cell trucks, buses and trains. Voith's Carbon4Tank has passed UNECE Regulation 134 burst-pressure testing above 1,050 bar, supporting potential series production for European heavy-duty fleets.

Improved filament-winding automation and greater precursor price stability are helping manufacturers reduce system costs. Luxfer and Hexagon Purus have expanded manufacturing capacity in North America and Europe, while each commercial mobility tank can incorporate approximately 25 to 30 kilograms of carbon fiber. Compared with steel cylinders, these lightweight systems can deliver an 8% to 12% payload advantage. Compliance with ISO 11119 and DOT FMVSS 304 fatigue requirements also supports confidence in long-term performance.

Offshore Wind Turbine Expansion Supports Structural Composite Growth

Rapid deployment of larger offshore wind turbines is creating another significant source of carbon fiber demand. Turbines in the 11 MW to 22 MW class use blades measuring approximately 100 to 143 meters, requiring materials with exceptional tensile strength and fatigue resistance. Siemens Gamesa's B108 blade incorporates carbon-fiber spars to reduce blade mass by about 20%, lowering tower loads and installation costs.

Mingyang Smart Energy's 143-meter blade for an 18 MW platform uses an estimated 15 to 18 tons of carbon fiber. Offshore wind blades could generate roughly 50,000 tons of annual demand as installations scale. Europe added 4.2 GW of offshore wind capacity in 2024, while markets including Taiwan and Japan continue to develop projects designed for demanding marine and typhoon-prone environments. Carbon composites offer cyclic fatigue performance that can exceed glass fiber by 30% to 40%, reinforcing their value in next-generation wind energy systems.

Energy Consumption Remains a Key Market Challenge

Carbon fiber manufacturing remains energy intensive. Producing one kilogram of fiber can require 50 to 100 kWh of electricity and generate 20 to 30 kilograms of carbon dioxide emissions. Elevated European electricity prices during 2024 and 2025 increased manufacturing costs by an estimated USD 5 to USD 8 per kilogram, widening the cost difference between European producers and lower-cost Asian suppliers.

Manufacturers are responding with renewable electricity, waste-heat recovery and lower-temperature production technologies. Toray is targeting a 30% absolute emissions reduction by 2030, while Mitsubishi Chemical is piloting lower-temperature polyacrylonitrile processes that could reduce energy use by 15% to 20%. Environmental Product Declarations under ISO 14025 are also becoming increasingly important as customers prioritize supply-chain transparency and lower lifecycle emissions.

Additional carbon fiber market growth drivers include lightweight battery-pack enclosures for electric vehicles and automated fiber-placement systems that reduce composite manufacturing cycle times. However, inconsistent availability of recycled carbon fiber feedstock remains a potential constraint.

Polyacrylonitrile and Recycled Carbon Fiber Shape Segment Growth

Polyacrylonitrile accounted for 95.18% of carbon fiber volume in 2025 and is forecast to grow at an 18.91% CAGR during the forecast period. Its carbon yield and established performance profile support broad adoption, although precursor supply remains concentrated in Asia-Pacific. Pilot microwave-assisted oxidation programs indicate the potential for 25% to 30% faster cycle times and 15% to 20% lower energy consumption after 2028.

Virgin carbon fiber held a 62.95% market share in 2025, supported primarily by aerospace and defense programs requiring traceability and strict mechanical tolerances. Recycled carbon fiber is projected to grow at a 19.87% CAGR through 2031, driven by automotive, wind energy and electric vehicle applications. Recovery technologies can retain a high proportion of virgin-fiber strength while lowering material costs by approximately 30% to 50%. Decommissioned wind blades are expected to provide a more stable recycling feedstock base after 2027.

Asia-Pacific Leads the Global Carbon Fiber Market

Asia-Pacific led the global carbon fiber market with a 44.89% share in 2025 and is expected to advance at a 20.75% CAGR through 2031. China's integrated precursor and fiber supply chains, Japan's aerospace-grade capabilities and India's industrial development policies support regional growth. Offshore wind projects in Taiwan and automotive manufacturing in South Korea provide additional momentum, while competitive electricity costs and captive acrylonitrile supply reinforce the region's production advantage.

North American demand is supported by aerospace manufacturing, defense programs, electric vehicle investment and hydrogen mobility infrastructure. New and expanded production lines are increasing regional availability of automotive and aerospace-grade carbon fiber. Europe also remains an important market, driven by offshore wind development, vehicle emissions requirements and Airbus aerostructure production. Despite energy-price volatility, renewable electricity procurement and investment in lower-emission manufacturing are strengthening the long-term outlook for the European carbon fiber industry.

Key Topics Covered

1 Introduction

1.1 Study Assumptions and Market Definition

1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

4.1 Market Overview

4.2 Market Drivers

4.2.1 Rising production of hydrogen and CNG pressure vessels for commercial mobility

4.2.2 Rapid deployment offshore wind turbines requiring high-strength blades

4.2.3 Adoption of battery-pack enclosures and lightweighting in EV platforms

4.2.4 3-D automated fiber-placement lines slashing composite cycle times

4.2.5 Local-content mandates in India and MENA aerospace offset programs

4.3 Market Restraints

4.3.1 Energy-intensive oxidation and carbonization

4.3.2 Supply-chain risks for recycled carbon fiber feedstock

4.3.3 Competition from high-performance thermoplastics in sporting goods

4.4 Value Chain Analysis

4.5 Technological Outlook

4.6 Porter's Five Forces

4.6.1 Bargaining Power of Suppliers

4.6.2 Bargaining Power of Buyers

4.6.3 Threat of New Entrants

4.6.4 Threat of Substitutes

4.6.5 Degree of Competition

5 Market Size and Growth Forecasts (Value and Volume)

5.1 By Raw Material

5.1.1 Polyacrylonitrile (PAN)

5.1.2 Petroleum Pitch and Rayon

5.2 By Fiber Type

5.2.1 Virgin Carbon Fiber (VCF)

5.2.2 Recycled Carbon Fiber (RCF)

5.2.3 Others

5.3 By Application

5.3.1 Composite Materials

5.3.2 Textiles

5.3.3 Micro-Electrodes

5.3.4 Catalysis

5.4 By End-User Industry

5.4.1 Aerospace and Defense

5.4.2 Alternative Energy

5.4.3 Automotive

5.4.4 Construction and Infrastructure

5.4.5 Sporting Goods

5.4.6 Other End-user Industries

5.5 By Geography

5.5.1 Asia-Pacific

5.5.1.1 China

5.5.1.2 Japan

5.5.1.3 India

5.5.1.4 South Korea

5.5.1.5 Rest of Asia-Pacific

5.5.2 North America

5.5.2.1 United States

5.5.2.2 Canada

5.5.2.3 Mexico

5.5.3 Europe

5.5.3.1 Germany

5.5.3.2 United Kingdom

5.5.3.3 France

5.5.3.4 Italy

5.5.3.5 Rest of Europe

5.5.4 South America

5.5.4.1 Brazil

5.5.4.2 Argentina

5.5.4.3 Rest of South America

5.5.5 Middle-East and Africa

5.5.5.1 Saudi Arabia

5.5.5.2 United Arab Emirates

5.5.5.3 South Africa

5.5.5.4 Egypt

5.5.5.5 Rest of Middle-East and Africa

6 Competitive Landscape

6.1 Market Concentration

6.2 Strategic Moves

6.3 Market Share(%)/Ranking Analysis

6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products and Services, and Recent Developments)

6.4.1 AandP Technology, Inc.

6.4.2 Anshan Senoda Carbon Fiber Co., Ltd.

6.4.3 DowAksa

6.4.4 Formosa Plastics Group

6.4.5 Hexcel Corporation

6.4.6 HS HYOSUNG ADVANCED MATERIALS

6.4.7 Jiangsu Hengshen Co.,Ltd

6.4.8 KUREHA CORPORATION

6.4.9 Mitsubishi Chemical Group Corporation

6.4.10 Nippon Graphite Fiber Co., Ltd.

6.4.11 Rock West Composites, Inc.

6.4.12 SGL Carbon

6.4.13 Sigmatex (UK) Limited

6.4.14 Solvay

6.4.15 Taekwang Industrial Co., Ltd.

6.4.16 Teijin Limited

6.4.17 TORAY INDUSTRIES, INC.

6.4.18 UMATEX

6.4.19 Zhongfu Shenying Carbon Fiber Co., Ltd.

7 Market Opportunities and Future Outlook

7.1 White-Space and Unmet-Need Assessment

7.2 Emphasis on Lignin-based Raw Materials for Carbon Fiber

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