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China Pitch Based Carbon Fiber Market

ID: MRFR/CnM/47125-HCR
200 Pages
Chitranshi Jaiswal
October 2025

China Pitch-Based Carbon Fiber Market Research Report By Type (Composites, Non-Composites) and By Application (Aerospace & Defense, Automotive, Construction, Wind Energy, Sports & Leisure, Others) - Forecast to 2035

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China Pitch Based Carbon Fiber Market Infographic
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China Pitch Based Carbon Fiber Market Summary

As per analysis, the China pitch based carbon fiber market is projected to grow from USD 67.92 Million in 2025 to USD 128.96 Million by 2035, exhibiting a compound annual growth rate (CAGR) of 6.62% during the forecast period (2025 - 2035).

Key Market Trends & Highlights

The China pitch based carbon fiber market is poised for substantial growth driven by technological advancements and increasing demand across key sectors.

  • Technological advancements in production are enhancing the efficiency and quality of pitch based carbon fiber.
  • The aerospace sector remains the largest consumer of pitch based carbon fiber, while the automotive sector is the fastest-growing market.
  • Sustainable manufacturing practices are gaining traction, reflecting a broader industry shift towards eco-friendly solutions.
  • Key market drivers include rising demand from the aerospace sector and government support for innovative manufacturing technologies.

Market Size & Forecast

2024 Market Size 63.7 (USD Million)
2035 Market Size 128.96 (USD Million)
CAGR (2025 - 2035) 6.62%

Major Players

Toray Industries (JP), SGL Carbon (DE), Mitsubishi Chemical (JP), Teijin Limited (JP), Hexcel Corporation (US), Zhongfu Shenying Carbon Fiber Co (CN), Jiangsu Hengshen Co (CN), Shanghai Aerospace Automobile Electromechanical Co (CN)

China Pitch Based Carbon Fiber Market Trends

The China pitch based carbon fiber market is currently experiencing a notable transformation, driven by advancements in technology and increasing demand across various sectors. The material's unique properties, such as high strength-to-weight ratio and thermal stability, make it particularly appealing for applications in aerospace, automotive, and sports equipment. Furthermore, the Chinese government's initiatives to promote lightweight materials in manufacturing processes appear to be fostering growth in this sector. As industries seek to enhance performance and reduce emissions, the adoption of pitch based carbon fiber is likely to gain momentum. In addition to technological advancements, the market is also influenced by the rising emphasis on sustainability. Manufacturers in China are increasingly focusing on eco-friendly production methods, which may lead to a shift in consumer preferences towards greener alternatives. This trend suggests that the China pitch based carbon fiber market could witness a surge in demand as companies align their operations with environmental standards. Overall, the market landscape is evolving, with a blend of innovation and sustainability shaping its future trajectory.

Technological Advancements in Production

The China pitch based carbon fiber market is witnessing significant technological innovations that enhance production efficiency. New methods are being developed to optimize the conversion of pitch into carbon fiber, which may lead to reduced costs and improved material properties. These advancements could potentially make pitch based carbon fiber more accessible to a wider range of industries.

Growing Demand in Aerospace and Automotive Sectors

There is an increasing demand for pitch based carbon fiber in the aerospace and automotive sectors within China. As manufacturers strive for lightweight materials to improve fuel efficiency and performance, pitch based carbon fiber is becoming a preferred choice. This trend indicates a shift towards high-performance materials in critical industries.

Focus on Sustainable Manufacturing Practices

The emphasis on sustainability is becoming more pronounced in the China pitch based carbon fiber market. Manufacturers are exploring eco-friendly production techniques that minimize environmental impact. This focus on sustainability may attract environmentally conscious consumers and businesses, potentially driving growth in the market.

Market Segment Insights

By Application: Aerospace (Largest) vs. Automotive (Fastest-Growing)

In the China pitch based carbon fiber market, the aerospace sector stands out as the largest application, commanding a significant share. This sector benefits from the high demand for lightweight and durable materials that improve fuel efficiency and performance in aircraft manufacturing. Following closely is the automotive sector, which is rapidly gaining traction as manufacturers focus on reducing vehicle weight to meet stringent emission regulations.

Aerospace: Dominant vs. Automotive: Emerging

The aerospace industry is a dominant force in the China pitch based carbon fiber market, primarily due to its stringent requirements for materials that provide exceptional strength-to-weight ratios. Carbon fiber's lightweight properties are ideal for reducing fuel consumption and emissions in commercial and military aircraft. On the other hand, the automotive sector is emerging strongly, driven by the rising demand for electric and hybrid vehicles that benefit from weight reduction to enhance efficiency. The integration of carbon fiber in automotive applications is also fueled by consumer preferences for high-performance vehicles, making this sector one to watch in the coming years.

By End Use: Composites (Largest) vs. Reinforcements (Fastest-Growing)

In the China pitch based carbon fiber market, the End Use segment is diversified, with Composites holding the largest market share due to their widespread application across various industries. Composites are favored in automotive, aerospace, and sporting goods manufacturing, leading to significant demand. Reinforcements follow closely behind, represented as the fastest-growing segment, driven by increasing investments in lightweight materials for enhanced structural performance. Their adaptability and versatility in applications further contribute to their growth trajectory.

Composites (Dominant) vs. Reinforcements (Emerging)

Composites are established as the dominant force within the End Use segment of the China pitch based carbon fiber market. Their unique properties, including high strength-to-weight ratio and thermal stability, make them essential for industries such as automotive and aerospace, where performance and efficiency are paramount. On the other hand, Reinforcements are emerging as a key growth area, appealing to manufacturers seeking to enhance product durability and reduce weight. As industries increasingly prioritize sustainability and innovation, the demand for Reinforcements is expected to surge, appealing to a wider range of applications.

By Manufacturing Process: Pan Fiber Process (Largest) vs. Pitch Fiber Process (Fastest-Growing)

In the China pitch-based carbon fiber market, the manufacturing process segment is characterized by distinct processes with varying market shares. Among these, the Pan Fiber Process holds the largest share, reflecting its established presence and extensive applications across various industries. Meanwhile, the Pitch Fiber Process is rapidly gaining traction due to its advantageous properties and increasing demand in specialized applications, thus marking it as the fastest-growing segment.

Pan Fiber Process (Dominant) vs. Pitch Fiber Process (Emerging)

The Pan Fiber Process is renowned for its maturity in the market, offering high-quality fibers that excel in strength and thermal stability, making it particularly favorable for aerospace and automotive applications. As the dominant method, it has established supply chains and production techniques that ensure consistency and reliability. In contrast, the Pitch Fiber Process, while still emerging, is recognized for its unique benefits, including lower production costs and enhanced performance properties in specific applications. This emerging segment is attracting investment and innovation, positioning itself as a significant player in the market as manufacturers seek more specialized fiber solutions.

By Type: High Modulus Carbon Fiber (Largest) vs. Ultra High Modulus Carbon Fiber (Fastest-Growing)

In the China pitch based carbon fiber market, the distribution of market shares among various types reveals that High Modulus Carbon Fiber dominates the segment, catering to a significant portion of applications in aerospace and automotive industries. Following closely, Intermediate Modulus Carbon Fiber maintains a steady presence, while Low Modulus Carbon Fiber, though smaller in share, finds relevance in more cost-sensitive sectors. Ultra High Modulus Carbon Fiber, while niche, is gaining traction for high-performance applications, indicating an evolving market landscape. Growth trends in the segment indicate a robust upward trajectory for Ultra High Modulus Carbon Fiber driven by innovative advancements in technology and escalating demand for high-performance materials. Meanwhile, the established presence of High Modulus Carbon Fiber continues to ensure its stability in the market, supported by ongoing developments in related industries. Factors such as increasing industrial activities, particularly in sectors demanding lightweight and durable materials, are propelling the overall growth of pitch based carbon fibers in China, setting the stage for dynamic shifts in market preferences.

High Modulus Carbon Fiber (Dominant) vs. Low Modulus Carbon Fiber (Emerging)

High Modulus Carbon Fiber has established its dominance in the China pitch based carbon fiber market due to its exceptional mechanical properties, making it highly suitable for critical applications in aerospace and high-performance automotive sectors. Its ability to withstand extreme conditions and provide superior tensile strength makes it a preferred choice among manufacturers. On the other hand, Low Modulus Carbon Fiber, while emerging, serves niche markets where cost efficiency and flexibility are paramount. It is often utilized in sporting goods and consumer applications, appealing to a broader audience. As demands expand, both segments show promise but cater to distinctly different preferences and requirements within the industry.

Get more detailed insights about China Pitch Based Carbon Fiber Market

Key Players and Competitive Insights

The pitch based carbon fiber market in China is characterized by a dynamic competitive landscape, driven by increasing demand across various sectors such as aerospace, automotive, and renewable energy. Key players are actively pursuing strategies that emphasize innovation, regional expansion, and strategic partnerships to enhance their market positioning. Companies like Toray Industries (Japan) and SGL Carbon (Germany) are focusing on technological advancements and sustainability initiatives, which appear to be pivotal in shaping the competitive environment. Their operational focus on high-performance materials and eco-friendly production methods suggests a collective effort to meet the evolving needs of consumers and regulatory standards.

In terms of business tactics, localizing manufacturing and optimizing supply chains are becoming increasingly critical. The market structure is moderately fragmented, with several key players exerting influence over pricing and product offerings. This fragmentation allows for niche players to emerge, yet the presence of established companies like Mitsubishi Chemical (Japan) and Teijin Limited (Japan) ensures that competition remains robust. These companies are leveraging their extensive networks and resources to maintain a competitive edge, which may lead to further consolidation in the future.

In November 2025, Toray Industries (Japan) announced a significant investment in a new production facility in Jiangsu province, aimed at increasing its output of pitch based carbon fibers. This strategic move is likely to enhance their capacity to meet the growing demand in the automotive sector, where lightweight materials are increasingly sought after for fuel efficiency and performance. The establishment of this facility not only signifies Toray's commitment to expanding its footprint in China but also reflects a broader trend of localization in manufacturing to reduce lead times and costs.

In October 2025, SGL Carbon (Germany) entered into a partnership with Jiangsu Hengshen Co (China) to develop advanced carbon fiber composites for the aerospace industry. This collaboration is expected to leverage SGL's expertise in high-performance materials alongside Jiangsu Hengshen's local market knowledge. Such partnerships may facilitate innovation and accelerate the development of new applications, thereby enhancing competitiveness in a rapidly evolving market.

In September 2025, Mitsubishi Chemical (Japan) launched a new line of eco-friendly pitch based carbon fibers, which are produced using renewable energy sources. This initiative aligns with global sustainability trends and positions the company favorably among environmentally conscious consumers. The introduction of these products could potentially reshape market dynamics, as competitors may be compelled to adopt similar sustainable practices to retain market share.

As of December 2025, current competitive trends indicate a strong emphasis on digitalization, sustainability, and the integration of AI technologies within production processes. Strategic alliances are increasingly shaping the landscape, allowing companies to pool resources and expertise to drive innovation. The shift from price-based competition to a focus on technological advancement and supply chain reliability is becoming evident. Moving forward, differentiation in the pitch based carbon fiber market will likely hinge on the ability to innovate and adapt to changing consumer preferences and regulatory demands.

Key Companies in the China Pitch Based Carbon Fiber Market market include

Industry Developments

Recent developments in the China Pitch-Based Carbon Fiber Market have been notable, with companies such as Sinosteel and Mitsubishi Chemical advancing their production capabilities to enhance material performance and efficiency. In September 2023, Teijin announced a strategic initiative to increase its carbon fiber manufacturing capacity in China, reflecting growing demand in the aerospace and automotive sectors. Additionally, the collaborative research program between Jilin Chemical Fiber and Kwantlen Polytechnic University focuses on innovative applications of pitch-based carbon fiber in emerging technologies.

Significant M&amp activity is also evident, notably in October 2023, when Toray Industries acquired a minority stake in Tianshan Fiber, strengthening their competitive position in the market.

The government of China continues to prioritize high-tech material development, positioning the country as a leading supplier globally, particularly for the aerospace industry, with companies like Boeing and Hexcel actively sourcing materials. The market is expected to grow substantially, fueled by increased investments in Research and Development, sustainability initiatives, and strategic partnerships, which are integral for adapting to global market changes and customer demands in high-performance materials.

Future Outlook

China Pitch Based Carbon Fiber Market Future Outlook

The China pitch based carbon fiber market is projected to grow at a 6.62% CAGR from 2024 to 2035, driven by advancements in aerospace, automotive, and renewable energy sectors.

New opportunities lie in:

  • Development of high-performance composites for aerospace applications.
  • Expansion of carbon fiber recycling technologies to reduce costs.
  • Investment in R&D for innovative applications in wind energy systems.

By 2035, the market is expected to solidify its position as a leader in advanced materials.

Market Segmentation

China Pitch Based Carbon Fiber Market Type Outlook

  • High Modulus Carbon Fiber
  • Intermediate Modulus Carbon Fiber
  • Low Modulus Carbon Fiber
  • Ultra High Modulus Carbon Fiber

China Pitch Based Carbon Fiber Market End Use Outlook

  • Composites
  • Reinforcements
  • Thermal Insulation
  • Electrical Conductors
  • Filtration

China Pitch Based Carbon Fiber Market Application Outlook

  • Aerospace
  • Automotive
  • Sports Equipment
  • Wind Energy
  • Civil Engineering

China Pitch Based Carbon Fiber Market Manufacturing Process Outlook

  • Pan Fiber Process
  • Pitch Fiber Process
  • Precursor Fiber Process
  • Continuous Filament Process
  • Short Fiber Process

Report Scope

MARKET SIZE 202463.7(USD Million)
MARKET SIZE 202567.92(USD Million)
MARKET SIZE 2035128.96(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)6.62% (2024 - 2035)
REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR2024
Market Forecast Period2025 - 2035
Historical Data2019 - 2024
Market Forecast UnitsUSD Million
Key Companies ProfiledToray Industries (JP), SGL Carbon (DE), Mitsubishi Chemical (JP), Teijin Limited (JP), Hexcel Corporation (US), Zhongfu Shenying Carbon Fiber Co (CN), Jiangsu Hengshen Co (CN), Shanghai Aerospace Automobile Electromechanical Co (CN)
Segments CoveredApplication, End Use, Manufacturing Process, Type
Key Market OpportunitiesGrowing demand for lightweight materials in automotive and aerospace sectors drives China pitch based carbon fiber market expansion.
Key Market DynamicsChina's pitch based carbon fiber market experiences rapid technological advancements and increasing demand from aerospace and automotive sectors.
Countries CoveredChina

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FAQs

What is the expected market size of the China Pitch-Based Carbon Fiber Market in 2024?

The China Pitch-Based Carbon Fiber Market is expected to be valued at 54.6 million USD in 2024.

What will be the market valuation of the China Pitch-Based Carbon Fiber Market in 2035?

In 2035, the market is projected to reach a valuation of 113.6 million USD.

What is the expected compound annual growth rate (CAGR) for the China Pitch-Based Carbon Fiber Market from 2025 to 2035?

The market is anticipated to grow at a CAGR of 6.887% from 2025 to 2035.

Which segment, composites or non-composites, is expected to dominate the China Pitch-Based Carbon Fiber Market by 2035?

By 2035, the composites segment is expected to dominate with a valuation of 68.1 million USD.

How much is the non-composites segment expected to be valued in 2024?

The non-composites segment is expected to be valued at 21.8 million USD in 2024.

Who are the major players in the China Pitch-Based Carbon Fiber Market?

Key players include Mitsubishi Chemical, Teijin, Toray Industries, and SGL Carbon, among others.

What are the primary applications driving growth in the China Pitch-Based Carbon Fiber Market?

Key applications include aerospace, automotive, and engineering sectors driving market growth.

What opportunities are present for growth in the China Pitch-Based Carbon Fiber Market?

There are significant opportunities for growth due to advancements in technology and increasing demand across industries.

What challenges does the China Pitch-Based Carbon Fiber Market face?

Challenges include competition from alternative materials and fluctuations in raw material prices.

How is the China Pitch-Based Carbon Fiber Market expected to evolve by 2035?

The market is expected to evolve with increased investment, innovation, and expanding applications in various sectors.

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