Key Milestone Reached for UK's New Carbon Fiber Development Lines

​March 1th, 2025

Global Carbon Fiber Market Growth Trends and Application Prospects

Palm Beach, Fla., January 14, 2025 (Globe Newswire) – The global carbon fiber market has experienced rapid growth in recent years and is expected to continue expanding. The primary drivers of this growth include the superior properties of carbon fiber and its widespread adoption across various industries.

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1. Aerospace and Automotive Industries Driving Market Expansion

Due to its high strength-to-weight ratio, carbon fiber is widely used in the automotive and aerospace industries. This material significantly reduces the weight of aircraft and vehicles, improving fuel efficiency and lowering carbon emissions—aligning with global sustainability goals. In the aerospace sector, the use of carbon fiber helps reduce fuel consumption and enhance aircraft performance.

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2. Rising Demand from the Renewable Energy Sector

According to a report from Grand View Research, the global carbon fiber market size was estimated at $5.75 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 10.9% from 2025 to 2030. A key factor in this growth is the increasing demand for carbon fiber in the wind energy sector. Carbon fiber’s high strength and durability make it an ideal material for wind turbine blades, enabling longer and more efficient blades that improve wind energy capture and enhance the overall efficiency of wind farms.

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3. Expanding Applications in Electronics and Sports Equipment

The lightweight and high-strength characteristics of carbon fiber have also led to increased demand in electronics and sports equipment. Electronics manufacturers use carbon fiber to enhance device durability while keeping products lightweight—appealing to consumer preferences for portable and robust devices. In the sports sector, carbon fiber is widely used in bicycles, tennis rackets, and golf clubs due to its superior strength and flexibility, which enhance athletic performance.

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4. Government Support and Technological Advancements

Government subsidies and research support have fueled advancements in carbon fiber production, helping to reduce costs and improve manufacturing efficiency. As production technology advances, carbon fiber is becoming more accessible and widely adopted across various industries.

Additionally, MarketsandMarkets reported that the global carbon fiber market was valued at $7.1 billion in 2023 and is projected to reach $23.2 billion by 2033, with a CAGR of 12.6%. With its high tensile strength, low weight, high stiffness, and high-temperature resistance, carbon fiber is widely used in aerospace, civil engineering, military, and motorsports.