The Global Carbon Fiber Market was valued at US$ 1,819.9 Million in 2022 and is projected to reach US$ 1,736.3 Million by 2029, with a projected Compound Annual Growth Rate (CAGR) of -0.7% during the forecast period (2023-2029). This market evolution is being driven by increasing demand from the aerospace, automotive, and renewable energy sectors, along with the accelerating adoption of recycled carbon fiber solutions and advanced manufacturing technologies.

As global industries transform toward lightweight, high-strength materials and sustainable solutions, the spotlight is on the key manufacturers who are driving innovation, production efficiency, and material performance. In this blog, we profile the Top 10 Companies in the Carbon Fiber Industry—a mix of chemical giants, specialized materials companies, and composites innovators shaping the future of advanced materials.

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🔟 1. Toray Industries, Inc.

Headquarters: Tokyo, Japan
Key Offering: TORAYCA® Carbon Fiber, Intermediate Modulus, High Modulus, and Large Tow Products

Toray is the world’s largest carbon fiber manufacturer, commanding a significant market share with its comprehensive portfolio of high-performance fibers. Their product range serves aerospace, industrial, and sporting goods applications worldwide, with continuous investments in production scaling and next-generation fiber technologies.

Innovation Initiatives:

• Expansion of production capacity to 34,100 tons annually by 2025

• Development of recycled carbon fiber technologies

• Strategic partnerships with aerospace OEMs and automotive manufacturers

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9️⃣ 2. Mitsubishi Chemical Carbon Fiber and Composites, Inc.

Headquarters: Sacramento, California, USA
Key Offering: PYROFIL® Carbon Fiber, Large Tow, Aerospace Grade

Mitsubishi Chemical is a global leader in carbon fiber production, with extensive capabilities in both standard modulus and large tow products for cost-sensitive industrial applications.

Innovation Initiatives:

• Focus on cost reduction through large-tow technology

• Expansion of automotive applications and thermoplastic composites

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8️⃣ 3. Teijin Carbon (Toho Tenax)

Headquarters: Tokyo, Japan
Key Offering: Tenax® Carbon Fiber, Intermediate Modulus, High Strength

Teijin Carbon, through its Toho Tenax brand, offers a diverse range of carbon fibers for aerospace, industrial, and sporting goods applications.

Innovation Initiatives:

• Development of high-performance fibers for next-generation aircraft

• Integration of carbon fiber value chain from raw material to finished composites

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7️⃣ 4. Hexcel Corporation

Headquarters: Stamford, Connecticut, USA
Key Offering: HexTow® Carbon Fiber, Aerospace Grade, Industrial Grade

Hexcel specializes in advanced composite materials, including carbon fiber, reinforcements, resins, and honeycomb core structures for the aerospace industry.

Innovation Initiatives:

• Leadership in aerospace carbon fiber applications

• Continuous development of intermediate and high modulus fibers

Download FREE Sample Report: Carbon Fiber Market – View in Detailed Research Report

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6️⃣ 5. Formosa Plastics Corporation

Headquarters: Kaohsiung, Taiwan
Key Offering: Formosa Carbon Fiber, Standard Modulus, Large Tow

Formosa Plastics is a major producer of large-tow carbon fiber, focusing on cost-effective solutions for industrial applications including wind energy, automotive, and pressure vessels.

Innovation Initiatives:

• Expansion of production capacity for industrial applications

• Development of carbon fiber for compressed natural gas tanks and hydrogen storage applications

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5️⃣ 6. SGL Carbon

Headquarters: Wiesbaden, Germany
Key Offering: SIGRAFIL® Carbon Fiber, Large Tow, Standard Modulus

SGL Carbon offers a comprehensive range of carbon-based products, including carbon fibers, composites, and graphite materials for various industrial sectors.

Innovation Initiatives:

• Focus on specialty carbon fibers for automotive and aerospace

• Development of carbon fiber composites for battery housings in electric vehicles

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4️⃣ 7. Solvay (formerly Cytec Solvay)

Headquarters: Brussels, Belgium
Key Offering: CYCOM® and MTM® Carbon Fiber Composites

Solvay is a leading supplier of advanced composite materials and thermoset resins for the aerospace and automotive industries.

Innovation Initiatives:

• Advanced thermoplastic composites for automotive lightweighting

• Carbon fiber prepregs for primary aircraft structures and sporting goods applications.

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3️⃣ 8. Hyosung Advanced Materials

Headquarters: Seoul, South Korea
Key Offering: TANSOME® Carbon Fiber, Standard Modulus, Large Tow

Hyosung is a major producer of carbon fiber with a focus on industrial applications and cost-effective manufacturing processes.

Innovation Initiatives:

• Expansion of carbon fiber production capacity in South Korea and globally.

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2️⃣ 9. Zhongfu Shenying Carbon Fiber Co., Ltd.

Headquarters: Lianyungang, China
Key Offering: ZOLTEK® PX35 Carbon Fiber (under Toray ownership)

Zhongfu Shenying is one of China’s leading carbon fiber manufacturers, focusing on both standard and large-tow products for domestic and international markets.

Innovation Initiatives:

• Significant capacity expansion to meet growing domestic demand

• Development of carbon fiber for wind turbine blades and pressure vessels

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1️⃣ 10. Jiangsu Hengshen Co., Ltd.

Headquarters: Danyang, China
Key Offering: Standard Modulus Carbon Fiber, Industrial Grade

Jiangsu Hengshen is a prominent Chinese carbon fiber producer with capabilities in standard modulus fibers for various industrial applications.

Innovation Initiatives:

• Expansion of production capacity for aerospace and industrial applications

• Focus on reducing production costs to increase market competitiveness

Get Full Report Here: Carbon Fiber Market – View in Detailed Research Report

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🌍 Outlook: The Future of Carbon Fiber Is Smarter and More Sustainable

The carbon fiber market is undergoing a significant transformation, driven by both technological innovation and evolving market demands. While traditional aerospace applications remain crucial, the industry is rapidly expanding into new sectors including automotive lightweighting, wind energy, and hydrogen storage solutions.

📈 Key Trends Shaping the Market:

• Increasing adoption in automotive and pressure vessel applications

• Development of recycled carbon fiber technologies and closed-loop manufacturing processes

• Growing demand from wind energy sector for larger turbine blades

• Expansion of production capacity in Asia, particularly China

Get Full Report Here: Carbon Fiber Market – View in Detailed Research Report

The companies listed above are not only producing advanced materials—they’re spearheading the lightweight revolution across multiple industries.