Who are the key players in Carbon Composites Market?

Toray Industries Inc, Hexcel Corporation, Teijin Limited, SGL Carbon SE and Syensqo are the major companies operating in the Carbon Composites Market. Read More

Which is the fastest growing region in Carbon Composites Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Carbon Composites Market?

In 2024, the Asia-Pacific accounts for the largest market share in Carbon Composites Market. Read More

What years does this Carbon Composites Market cover, and what was the market size in 2023?

In 2023, the Carbon Composites Market size was estimated at 204.96 kilotons. The report covers the Carbon Composites Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Carbon Composites Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Carbon Composites Market Size

Market Size of Carbon Composites Industry

Study Period	2019 - 2029
Market Volume (2024)	221.72 kilotons
Market Volume (2029)	319.20 kilotons
CAGR (2024 - 2029)	7.56 %
Fastest Growing Market	Asia-Pacific
Largest Market	Asia-Pacific
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Carbon Composites Market Analysis

The Carbon Composites Market size is estimated at 221.72 kilotons in 2024, and is expected to reach 319.20 kilotons by 2029, at a CAGR of 7.56% during the forecast period (2024-2029).

COVID-19 had a negative impact on the carbon composites sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business has been recovering since 2021 and is expected to rise significantly in the coming years.

The major factors driving the market are increasing demand from the aerospace and defense industry and increasing demand from the wind energy sector.
However, the high cost of manufacturing in comparison to other composites and the presence of substitutes are hindering the market growth.
Nevertheless, the growing adoption of carbon composites in 3D printing and increasing demand from fuel cell electric vehicles (FCEVs) will be the market opportunities.
The Asia-Pacific region accounts for the highest market share and is expected to dominate the market during the forecast period.

Carbon Composites Industry Segmentation

Carbon composites are composite materials with carbon fiber reinforcements. Carbon composites usually comprise 80%–90% carbon and graphite. The unique blend of natural and synthetic graphite particles, carbon fibers, and amorphous carbon particles is proprietary and tailored for specific desired properties.

The carbon composites market is segmented by matrix, process, application, and geography. By matrix, the market is segmented into hybrid, metal, ceramic, carbon, and polymer. By process, the market is segmented into prepreg layup process, pultrusion, wet lamination and infusion process, press and injection processes, and others (3D printing). By application, the market is segmented into aerospace and defense, automotive, wind turbines, sport and leisure, civil engineering, marine applications, and other applications (electronics, medical applications, protective clothing, and pressure vessels). The report also covers the market size and forecasts for carbon composites in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (tons).

Matrix

Hybrid

Metal

Ceramics

Carbon

Polymer
	Thermosetting
	Thermoplastic

Process
		Prepeg Layup Process
		Pultrusion and Winding
		Wet Lamination and Infusion Process
		Press and Injection Processes
		Other Processes

Application
		Aerospace and Defense
		Automotive
		Wind Turbines
		Sports and Leisure
		Civil Engineering
		Marine Applications
		Other Applications

Geography

Asia-Pacific
	China
	India
	Japan
	South Korea
	ASEAN Countries
	Rest of Asia-Pacific

North America
	United States
	Canada
	Mexico

Europe
	Germany
	United Kingdom
	France
	Italy
	Rest of Europe

South America
	Brazil
	Argentina
	Rest of South America

Middle East and Africa
	Saudi Arabia
	South Africa
	Rest of Middle East and Africa

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Carbon Composites Market Size Summary

The carbon composites market is experiencing a robust recovery and is poised for significant growth over the forecast period. Initially impacted by the COVID-19 pandemic, which led to production halts and supply chain disruptions, the market has been on an upward trajectory since 2021. The aerospace and defense sector emerges as the largest end-user, driven by the need for lightweight, durable materials that offer benefits such as weight reduction and resistance to corrosion. This shift from traditional metals to carbon composites in aircraft manufacturing is fueled by the demand for enhanced performance and reduced maintenance costs. Additionally, the wind energy sector is contributing to the market's expansion, alongside emerging opportunities in 3D printing and fuel cell electric vehicles. However, challenges such as high manufacturing costs and the availability of substitutes continue to pose hurdles to market growth.

The Asia-Pacific region holds the largest market share, with significant demand stemming from industries such as aerospace, defense, automotive, and sports. The automotive sector, in particular, is witnessing increased adoption of carbon composites due to their superior strength-to-weight ratio and corrosion resistance, which contribute to improved fuel efficiency. The region's dominance is further supported by the robust growth of the automotive industry in China and India, alongside the expanding aerospace sector. The market is characterized by a fragmented landscape with key players like Toray Industries Inc., Solvay, Hexcel Corporation, Teijin Limited, and SGL Carbon SE actively participating. Strategic collaborations and investments in innovative materials and production techniques are expected to drive further advancements in the carbon composites market.

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Carbon Composites Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Drivers
  1. 1.1.1 Increasing Demand from the Aerospace and Defense Industry
  2. 1.1.2 Increasing Demand from the Wind Energy Sector
2. 1.2 Restraints
  1. 1.2.1 High Cost for Manufacturing in Comparison to Other Composites
  2. 1.2.2 Presence of Substitutes
3. 1.3 Industry Value Chain Analysis
4. 1.4 Porter's Five Forces Analysis
  1. 1.4.1 Bargaining Power of Suppliers
  2. 1.4.2 Bargaining Power of Consumers
  3. 1.4.3 Threat of New Entrants
  4. 1.4.4 Threat of Substitute Products and Services
  5. 1.4.5 Degree of Competition
2. MARKET SEGMENTATION (Market Size in Volume)
1. 2.1 Matrix
  1. 2.1.1 Hybrid
  2. 2.1.2 Metal
  3. 2.1.3 Ceramics
  4. 2.1.4 Carbon
  5. 2.1.5 Polymer
    1. 2.1.5.1 Thermosetting
    2. 2.1.5.2 Thermoplastic
2. 2.2 Process
  1. 2.2.1 Prepeg Layup Process
  2. 2.2.2 Pultrusion and Winding
  3. 2.2.3 Wet Lamination and Infusion Process
  4. 2.2.4 Press and Injection Processes
  5. 2.2.5 Other Processes
3. 2.3 Application
  1. 2.3.1 Aerospace and Defense
  2. 2.3.2 Automotive
  3. 2.3.3 Wind Turbines
  4. 2.3.4 Sports and Leisure
  5. 2.3.5 Civil Engineering
  6. 2.3.6 Marine Applications
  7. 2.3.7 Other Applications
4. 2.4 Geography
  1. 2.4.1 Asia-Pacific
    1. 2.4.1.1 China
    2. 2.4.1.2 India
    3. 2.4.1.3 Japan
    4. 2.4.1.4 South Korea
    5. 2.4.1.5 ASEAN Countries
    6. 2.4.1.6 Rest of Asia-Pacific
  2. 2.4.2 North America
    1. 2.4.2.1 United States
    2. 2.4.2.2 Canada
    3. 2.4.2.3 Mexico
  3. 2.4.3 Europe
    1. 2.4.3.1 Germany
    2. 2.4.3.2 United Kingdom
    3. 2.4.3.3 France
    4. 2.4.3.4 Italy
    5. 2.4.3.5 Rest of Europe
  4. 2.4.4 South America
    1. 2.4.4.1 Brazil
    2. 2.4.4.2 Argentina
    3. 2.4.4.3 Rest of South America
  5. 2.4.5 Middle East and Africa
    1. 2.4.5.1 Saudi Arabia
    2. 2.4.5.2 South Africa
    3. 2.4.5.3 Rest of Middle East and Africa