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Carbon Fiber Market expected to reach $6.82 billion by 2030, growing at 7.2% CAGR. Various industries benefit from unique properties and applications, with high-quality manufacturing processes driving growth. Industry challenges include high production costs and complex manufacturing processes. PAN-based carbon fiber dominates the market, with recycled carbon fiber expected to grow at a high CAGR. Major players include Toray Industries, Teijin Limited, and Hexcel Corporation.
The Carbon Fiber Market is projected to grow significantly, reaching a value of USD 6.82 billion by 2030, up from USD 4.82 billion in 2025, with a CAGR of 7.2%. This growth is driven by increasing demand across various industries like aerospace, defense, automotive, wind energy, and more. Technological advancements in manufacturing processes are enhancing the quality, vibrancy, and durability of carbon fibers. Key players in the market include Toray Industries, Inc., DowAksa, Mitsubishi Chemical Group Corporation, and others. PAN-based carbon fiber is the dominant raw material type, with recycled carbon fiber showing the highest CAGR. The industry faces challenges like high production costs and complex manufacturing processes, but opportunities exist in new applications. This information is based on a study by MarketsandMarkets™ and more details can be found on Benzinga.com.