Bolstered by High Demand from Applications in Wind Energy and Pressure Vessels Sectors, Global Market for Carbon Fibers to Reach 274K Metric Tons by 2030

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Industry Experts, Inc. released its latest version of the report on "Carbon Fibers & Carbon Fiber Reinforced Plastics (CFRP)", which projects the demand for carbon fiber to reach $8.5 billion (274K metric tons) by 2030, from an estimated $4.4 billion in 2024 at a CAGR of 11.6% between the two years. Carbon fiber reinforced plastics market was estimated at US$28 billion in 2024 and expected to grow by a CAGR of 11.4% during the same analysis period and reach US$54 billion by 2030.

The lightweight properties of Carbon Fibers play a pivotal role in reducing carbon dioxide (CO2) emissions across the lifecycle of products, addressing critical global environmental challenges. This advantage has driven their growing adoption in key industries, including wind energy, aerospace, automotive, and pressure vessels. The Carbon Fibers & Carbon Fiber Reinforced Plastics (CFRP) market faced a significant downturn in 2020 due to the COVID-19 pandemic, which disrupted major end-use sectors.

Demand for Carbon Fibers worldwide recovered sharply during 2021-2022 period driven by recovery in commercial aerospace and industrial applications coupled with robust growth in sports equipment and wind turbine blades production, but experienced a subsequent drop in 2023, primarily due to a significant decrease in demand from the wind energy sector, which is a major consumer of carbon fiber for turbine blades; this reduced demand, led to a surplus in the market and consequently lower prices.

The report exclusively discusses the global carbon fiber production capacities by all major players including current & future expansion plans and new entrants (particularly in China), market trends and production capacity analysis by product type, company, plant and region. The study also includes the supply chain overview for Carbon Fibers.

Wind Energy is the largest end-use application for Carbon Fibers globally, with a share of ~28% in 2024. By 2030, the global consumption of Carbon Fibers in the Wind Energy sector is projected to reach 97 thousand metric tons, holding the number one position with a market share of 35%, and maintaining a CAGR of 18% from 2024-2030. However, in terms of growth, Pressure Vessels applications of carbon fibers are slated to grow at a second fastest volume CAGR of 16% between 2024 and 2030.

This report studies the Carbon Fibers & Carbon Fiber Reinforced Plastics (CFRP) market across all major regions including North America (The United States and Canada), Europe (Denmark, France, Germany, Italy, Spain, the United Kingdom, and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Taiwan, and Rest of Asia-Pacific), and Rest of the World (Brazil, Russia, Turkiye and Rest of World).

The study analyzes the Carbon Fibers & Carbon Fiber Reinforced Plastics (CFRP) market based on Application &ndash: Aerospace & Defense, Sports & Leisure, Wind Energy, Automotive, Pressure Vessels, Construction & Infrastructure, Molding Compounds, Oil & Gas, Other Industrial Applications; Product Type – Standard Modulus (Large-tow), Standard Modulus (Regular-tow), Intermediate Modulus and High Modulus; and Installed (Theoretical) Production Capacity &ndash: by Manufacturer and Plant Location, by Country and Region, and by Source (PAN-based, Pitch-based).

About Industry Experts, Inc.
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/

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