The Global Carbon Fiber Composites Market was valued at USD 870.58 million in 2023 and is projected to reach USD 1057.82 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 3.30% during the forecast period (2024–2029). This robust growth is primarily driven by escalating demand from the aerospace and defense sectors, the proliferation of wind energy projects, and the accelerating adoption of lightweight materials in the automotive industry to improve fuel efficiency and reduce carbon emissions.

As industries worldwide pivot towards high-performance, sustainable, and lightweight solutions, carbon fiber composites are at the forefront of this transformation. These advanced materials offer an unparalleled strength-to-weight ratio, corrosion resistance, and design flexibility. In this blog, we profile the Top 10 Companies in the Carbon Fiber Composites Industry—a group of material science innovators and manufacturing giants shaping the future of transportation, energy, and industrial applications.

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🔟 1. Toray Industries, Inc.

Headquarters: Tokyo, Japan
Key Offering: TORAYCA® carbon fibers, prepregs, composites

Toray Industries is the global leader in carbon fiber production, commanding a significant market share. Its TORAYCA® brand is synonymous with high performance and is extensively used in aerospace (e.g., Boeing 787, Airbus A350), sporting goods, and industrial applications. The company’s vertically integrated operations, from precursor to finished composite parts, give it a formidable competitive edge.

Innovation and Expansion Initiatives:

• Heavy investment in large-tow carbon fiber for automotive mass production
• Development of recycled carbon fiber materials
• Strategic partnerships with major aerospace and automotive OEMs worldwide

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9️⃣ 2. Teijin Limited

Headquarters: Tokyo, Japan
Key Offering: TENAX® carbon fibers, composites, intermediate materials

Teijin is a diversified technology company and a major force in the carbon fiber composites market. Its TENAX® carbon fibers are critical components in aircraft, satellites, and high-end automobiles. The company’s acquisition of Continental Structural Plastics significantly strengthened its position in the automotive composites sector.

Innovation and Expansion Initiatives:

• Pioneering thermoplastic carbon fiber composites for faster automotive cycle times
• Expanding manufacturing capacity in Europe and the United States
• Focus on sustainable solutions, including carbon fiber recycling technologies

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8️⃣ 3. Hexcel Corporation

Headquarters: Stamford, Connecticut, USA
Key Offering: Carbon fibers, woven fabrics, prepregs, adhesives

Hexcel is a leading advanced composites company, specializing in materials for commercial aerospace, space, and defense. It is a primary supplier to Airbus, Boeing, and other major aerospace manufacturers, providing lightweighting solutions that are essential for next-generation aircraft efficiency.

Innovation and Expansion Initiatives:

• Development of high-performance HexTow® carbon fibers and HexPly® prepregs
• Significant investments in automation and capacity expansion for aerospace growth
• Leadership in resin systems for composite structures

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Global Carbon Fiber Composites Market – View in Detailed Research Report

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7️⃣ 4. SGL Carbon

Headquarters: Wiesbaden, Germany
Key Offering: Carbon fibers, composite materials, custom components

SGL Carbon is a key European player with a strong focus on specialty graphite and carbon-based solutions. Its carbon fiber composites are vital for the automotive industry (e.g., BMW i-series), wind energy, and semiconductor manufacturing. The company is strategically shifting towards high-growth application areas.

Innovation and Expansion Initiatives:

• Leading role in supplying carbon fiber materials for battery boxes in electric vehicles
• Expansion of production facilities for lightweight automotive applications
• Development of customized solutions for the hydrogen economy and aerospace

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6️⃣ 5. Mitsubishi Chemical Carbon Fiber and Composites, Inc. (MCCFC)

Headquarters: Sacramento, California, USA (Subsidiary of Mitsubishi Chemical Holdings, Japan)
Key Offering: Pyrofil® carbon fibers, prepregs, thermoplastic composites

MCCFC, part of the giant Mitsubishi Chemical Holdings Group, is a major global supplier of carbon fiber and intermediate materials. Its products are used in aerospace, industrial, and sporting goods, with a growing emphasis on pressure vessels for hydrogen storage and compressed natural gas.

Innovation and Expansion Initiatives:

• Investment in large-scale production for cost-effective carbon fiber
• Strategic focus on growth markets like renewable energy and hydrogen storage
• Advanced research into thermoplastic and compression molding technologies

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5️⃣ 6. Solvay

Headquarters: Brussels, Belgium
Key Offering: Specialty polymers, composite materials, cyanate esters

Solvay is a global leader in advanced materials and specialty chemicals, with a formidable composites portfolio. Its high-performance thermoset and thermoplastic matrices, combined with carbon fibers, create solutions for the most demanding aerospace, automotive, and energy applications.

Innovation and Expansion Initiatives:

• Development of unique resin systems for out-of-autoclave manufacturing
• Leading supplier of composite materials for the aerospace industry
• Strong R&D focus on sustainable and recyclable composite solutions

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4️⃣ 7. Hyosung Advanced Materials

Headquarters: Seoul, South Korea
Key Offering: TANSOME® carbon fibers, industrial-grade composites

Hyosung has emerged as a significant global competitor, particularly in the industrial-grade carbon fiber segment. Its massive investments in capacity expansion aim to capture market share in wind energy, pressure vessels, and automotive applications with cost-competitive offerings.

Innovation and Expansion Initiatives:

• Aggressive capacity expansion to become a top-tier global producer
• Focus on large-tow carbon fibers for high-volume industrial applications
• Strategic partnerships to penetrate the North American and European markets

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

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3️⃣ 8. Formosa Plastics Corporation

Headquarters: Taipei, Taiwan
Key Offering: Carbon fibers, fiber intermediates

Formosa Plastics is a major petrochemical conglomerate with a growing carbon fiber division. It produces a range of carbon fibers targeting sporting goods, automotive, and general industrial uses, leveraging its integrated supply chain from raw materials to finished fiber.

Innovation and Expansion Initiatives:

• Continuous expansion of carbon fiber production capacity
• Leveraging vertical integration for cost competitiveness
• Development of fibers tailored for specific industrial applications

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2️⃣ 9. Kureha Corporation

Headquarters: Tokyo, Japan
Key Offering: KUREHA Carbon Fiber, pitch-based carbon fibers

Kureha specializes in unique pitch-based carbon fibers, which exhibit ultra-high thermal conductivity and modulus compared to the more common PAN-based fibers. These specialty fibers are critical for applications in semiconductors, aerospace satellites, and high-end industrial equipment.

Innovation and Expansion Initiatives:

• Dominance in the high-performance pitch-based carbon fiber niche
• R&D focused on expanding applications in thermal management and electronics
• Strategic supplier to demanding high-tech industries

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1️⃣ 10. Zoltek Companies, Inc. (A Mitsubishi Chemical Holdings Group Company)

Headquarters: St. Louis, Missouri, USA
Key Offering: PANEX® large-tow carbon fibers

Zoltek, now fully integrated into the Mitsubishi Chemical Group, is a pioneer in large-tow (or standard modulus) carbon fibers. Its cost-effective PANEX® fibers were instrumental in enabling the mass adoption of carbon composites in the wind energy industry and are expanding into automotive and infrastructure.

Innovation and Expansion Initiatives:

• Pioneer and leader in large-tow carbon fiber technology
• Critical supplier to the global wind turbine blade market
• Focus on driving down costs to open new, high-volume applications

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Global Carbon Fiber Composites Market – View in Detailed Research Report

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🌍 Outlook: The Future of Carbon Fiber Composites Is High-Volume and Sustainable

The carbon fiber composites market is undergoing a profound transformation. While high-performance aerospace applications continue to drive technological innovation, the future lies in cost reduction, automation, and sustainability to enable mass adoption in automotive, wind energy, and infrastructure.

📈 Key Trends Shaping the Market:

• Rapid expansion of production capacity for industrial-grade carbon fiber
• Accelerated adoption in electric vehicles for battery enclosures and body panels
• Growth driven by the global wind energy sector, particularly offshore wind
• Intense R&D into recycling technologies and bio-based precursors

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

The companies listed above are not only supplying advanced materials—they are engineering the lightweight, efficient, and sustainable future of global industry.