Carbon Composites Market is predicted to reach USD 38.32 billion at a CAGR of 7.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Carbon Composites Market”.

The Carbon Composites market is estimated to register a CAGR of 7.20% from 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Carbon Composites market— Solvay, Nippon Carbon Co Ltd., TORAY INDUSTRIES INC., Teijin Aramid BV, Mitsubishi Chemical Holdings Corporation., Carbon Composites Inc., SGL Carbon, Hexcel Corporation, China Composites Group Corporation Ltd, Rockman, Epsilon Composite, and Plasan Carbon Composites.

Market Highlights

The global Carbon Composites market is accounted to register a CAGR of 7.20% during the forecast period and is estimated to reach USD 38.32 billion by 2032.

Numerous important factors are driving the market for carbon composites, which is expanding rapidly. First, because carbon composites have an extraordinary strength-to-weight ratio, there is an increasing need for lightweight materials, notably in the aerospace and automotive industries. The global emphasis on sustainability and strict environmental rules are also pushing industry to choose environmentally friendly materials like carbon composites. Additionally, ongoing technological developments in composite manufacturing and carbon fiber production techniques improve the material's performance and cost-effectiveness, further boosting market growth. All of these factors influence the demand for and expanding applications of carbon composites across numerous industries.

Segment Analysis

The global Carbon Composites market has been segmented based on matrix, process, and application.

Based on Matrix, the global Carbon Composites market is segmented into Hybrid, Metal, Ceramic, Carbon, and Polymer categories. The demand for composites has the largest Polymer category. Its supremacy is the result of its adaptability, affordability, ease of manufacturing, and suitability for various applications across industries, including aerospace, automotive, and construction, which have significantly fueled its expansion.

Process segments the global Carbon Composites market into Prepreg Layup Process, Pultrusion and Winding, Wet Lamination and Infusion Process, Press and Injection Processes, and Other Processes. The demand for composites currently has the Wet Lamination and Infusion Process as its largest subsegment. Its adaptability, affordability, and applicability for various applications across sectors explain this supremacy. Strong and lightweight composite structures are produced due to the method's effective material distribution. Its environmentally favorable attributes support the global movement toward sustainability, which furthers growth.

Based on Application, the global market for Carbon Composites is segmented into Aerospace and Defense, Automotive, Wind Turbines, Sport and Leisure, Civil Engineering, Marine Applications, and Other Applications. Due to the strong need for lightweight materials that combine strength and endurance, the Aerospace and Defense segment is the largest in the composites industry. In this safety-critical industry, factors driving growth include the need for sustainable solutions, fuel economy regulations, and aeronautical advancements.

Regional Analysis

Based on region, the global Carbon Composites market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The Europe Carbon Composites market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Carbon Composites market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Carbon Composites market comprises the Middle East, Africa, and Latin America.

The carbon composites market's largest consumer is North America. The North American carbon composites market is mature, with a significant presence in the aerospace and defense industries. The area is a leader in technological innovation and improvement, focusing on lightweight materials to increase fuel economy and lower emissions in the automobile sector. Strict environmental rules and sustainability goals drive the need for eco-friendly composites.

The Carbon Composites market in Europe represents the second-largest market share. Europe's carbon composites industry is well-established, particularly in aerospace and automotive applications. With a concentration on recyclable and green composites, sustainability and eco-friendliness are fundamental principles. To keep a competitive edge in composite technologies, the European market prioritizes research and development.

The Carbon Composites Market in Asia-Pacific is the region with the fastest market expansion for carbon composites. The carbon composites market is expanding most quickly in the Asia-Pacific region. Rapid industrialization, the growth of the automotive and aerospace industries, and the desire for lightweight materials for electric vehicles and renewable energy infrastructure are the main drivers of this trend. Government programs aid in the expansion of the composites sector.

Furthermore, the rest of the world’s carbon composite market is divided into the Middle East, Africa, and Latin America. Moreover, the rest of the world’s active oxygens market is divided into the Middle East, Africa, and Latin America.  The dynamics of the Rest of the World region vary depending on local economic conditions and preferences for particular industries. While some areas emphasize industrial applications, others place a higher priority on environmentally friendly composites. Local factors and new trends impact this region's market growth.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Carbon Composites Market Report

Key Findings of the Study

• The global Carbon Composites market is expected to reach USD 38.32 billion by 2032, at a CAGR of 7.20% during the forecast period.


• The Polymer category, which is the largest and continues to drive considerable segmental growth, is one of the matrix materials in the composites industry and holds around 38%-45% market share.


• During the forecast period, Asia Pacific is expected to grow at the fastest CAGR in the market for carbon composites owing to the expansion of the automotive and aerospace industries.


• Solvay, Nippon Carbon Co Ltd., TORAY INDUSTRIES INC., Teijin Aramid BV, Mitsubishi Chemical Holdings Corporation., Carbon Composites Inc., SGL Carbon, Hexcel Corporation, China Composites Group Corporation Ltd., Rockman, Epsilon Composite, and Plasan Carbon Composites.