Carbon fiber, as one of the most strategically significant new materials in the 21st century, is now embracing unprecedented development opportunities. This article will comprehensively analyze the current development status, competitive landscape and future trends of the carbon fiber industry, from the changes in global market supply and demand to the rise path of Chinese enterprises, from the direction of technological breakthroughs to the explosive growth of downstream application fields, presenting readers with a complete industrial panorama. This article will focus on interpreting the latest progress of carbon fiber in core application fields such as aerospace, new energy vehicles, and wind turbine blades, analyze the competitive strategies and technical route choices of domestic and foreign enterprises, and based on the latest policy environment and market demand, look forward to the key trends and potential opportunities of the industry’s development in the next five years.
The current situation and scale growth of the global carbon fiber market
The carbon fiber industry has witnessed explosive growth in recent years, and the global market landscape is undergoing profound changes. According to the latest industry data, the global carbon fiber market size has exceeded 20 billion US dollars in 2025, with a compound annual growth rate of over 10%, and the demand is expected to reach a historical high of 300,000 tons. In this global growth wave, China plays a crucial role – with a 47.7% share of production capacity, China has become the world’s largest producer, and it is expected that this proportion will further increase to 65% by 2030, demonstrating an impressive development speed and industrial potential. From the supply side, China’s carbon fiber production capacity reached 135,500 tons in 2024, with a year-on-year growth of as high as 113%. It is expected to exceed 299,000 tons in 2025, accounting for more than 40% of the global total capacity. Such a speed of capacity expansion is extremely rare in the history of global industrial materials.
From the perspective of product structure, the current carbon fiber market shows a distinct feature of application field differentiation. Wind turbine blades, sports and leisure, and photovoltaic thermal fields constitute the three core application areas, accounting for 36%, 28%, and 11% of the market share respectively. It is particularly worth noting that the growth rate of emerging fields such as new energy vehicles and building reinforcement has exceeded 50%, and they are becoming new engines driving industry growth. In terms of product technology routes, PAN-based carbon fiber still holds an absolute dominant position, with a market share as high as 92%. This is mainly attributed to its excellent mechanical properties and relatively mature preparation process. Asphalt-based and viscose-based products have achieved breakthroughs in special application scenarios. Although their current market share is relatively small, they have demonstrated unique advantages in high-end fields such as thermal protection systems for aerospace vehicles and heat dissipation for electronic devices.
From the perspective of regional development, the global carbon fiber industry has formed a distinct regional agglomeration effect. The Asian region, especially China, Japan and South Korea, together account for more than 60% of the global market share, forming the “golden triangle” of world carbon fiber production. While China’s production capacity has been expanding rapidly, its technological level has also made considerable progress. T800-grade carbon fiber has achieved stable domestic supply, and its performance is approaching the international advanced level. In contrast, although the European and American markets are relatively stable, they have lagged significantly behind Asian enterprises in terms of the speed of capacity expansion and technological iteration. This change in regional pattern indicates that the global carbon fiber industry’s center of gravity is shifting eastward, and China is gradually transforming from a follower to a leader.
Table: Global Carbon Fiber Market Regional Distribution and Growth Forecast in 2025
| Region | Capacity proportion | Major manufacturing enterprises | Growth rate forecast for the next five years |
|---|---|---|---|
| China | 47.7% | Jilin Chemical Fiber, Zhongfu Shenying, Guangwei Composites | 15-18% |
| Japan | 18.2% | Toray, Mitsubishi Rayon, Toho | 5-8% |
| Europe and America | 22.5% | Hirsch, Siguri | 6-10% |
| Others | 11.6% | Hyosung of South Korea, etc | 10-12% |
From the perspective of the value distribution of the industrial chain, the carbon fiber industry exhibits a typical “smile curve” feature. The production process of high-performance carbon fiber has the highest added value, accounting for approximately 40% of the total value of the industrial chain. This is mainly due to its high technological barriers and large-scale R&D investment. The value of the precursor production process accounts for approximately 25%, which is the foundation for ensuring the quality of carbon fibers. The value of the processing and application of composite materials accounts for approximately 35%, and its added value varies with the complexity of the product and the application field. For instance, carbon fiber composite materials used in aerospace have strict performance requirements, and their value is much higher than that of sports and leisure products. This value distribution pattern also explains the strategic choice of major enterprises to climb towards high value-added links one after another.