The Global Carbon Fiber for Hydrogen Storage Market was valued at USD 1.25 Billion in 2024 and is projected to reach USD 2.48 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 12.1% during the forecast period (2024–2030). This robust growth is being propelled by the global push for clean energy, the accelerated deployment of fuel cell electric vehicles (FCEVs), and significant government investments in hydrogen infrastructure.

As the hydrogen economy gains momentum, the demand for safe, lightweight, and high-pressure storage solutions becomes paramount. Carbon fiber composites, essential for manufacturing Type III and Type IV hydrogen tanks, are at the forefront of this revolution. In this blog, we profile the Top 10 Companies in the Carbon Fiber for Hydrogen Storage Industry—a group of advanced material innovators and industrial giants enabling the future of hydrogen mobility and storage.

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🔟 1. Toray Industries, Inc.

Headquarters: Tokyo, Japan
Key Offering: TORAYCA® Carbon Fiber for High-Pressure Vessels

Toray Industries is the world’s largest producer of carbon fiber, commanding a significant share of the global market. Its TORAYCA® carbon fibers are renowned for their high strength-to-weight ratio and are extensively used in Type IV hydrogen tanks for automotive and aerospace applications. The company collaborates closely with leading tank manufacturers and automakers to advance hydrogen storage technology.

Innovation & Growth Initiatives:

• Continuous R&D in high-strength, large-tow carbon fibers optimized for hydrogen tanks

• Strategic partnerships with global hydrogen vehicle producers

• Expanding production capacity to meet escalating demand from the energy sector

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

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9️⃣ 2. Teijin Limited

Headquarters: Tokyo, Japan
Key Offering: Tenax® Carbon Fiber, TEFLEX® Fiber Placement Technology

Teijin is a leading global supplier of advanced fibers and composites, including its high-performance Tenax® carbon fiber. The company is a key enabler for the hydrogen economy, providing materials for lightweight, high-pressure hydrogen tanks. Its proprietary TEFLEX® automated fiber placement technology enhances the manufacturing efficiency and reliability of composite pressure vessels.

Innovation & Growth Initiatives:

• Development of carbon fibers specifically designed for 700-bar hydrogen storage systems

• Investment in automated manufacturing processes to reduce tank production costs

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8️⃣ 3. Hexcel Corporation

Headquarters: Stamford, Connecticut, USA
Key Offering: HexTow® Carbon Fiber, Composite Materials

Hexcel Corporation is a major manufacturer of advanced composites, including carbon fibers, fabrics, and pre-impregnated materials. Its HexTow® carbon fibers are used in demanding applications, including hydrogen storage tanks that require exceptional durability and pressure resistance. Hexcel’s materials are critical for achieving the safety standards required for commercial hydrogen transportation.

Innovation & Growth Initiatives:

• Focus on high-modulus carbon fibers for next-generation hydrogen storage vessels

• Collaborations with aerospace and automotive partners to integrate hydrogen solutions

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7️⃣ 4. SGL Carbon

Headquarters: Wiesbaden, Germany
Key Offering: SIGRAFIL® Carbon Fiber, Custom Composite Solutions

SGL Carbon is a leading European-based manufacturer of carbon-based products. The company produces SIGRAFIL® carbon fibers, which are widely used in the liner-less and light-weighting designs of Type IV hydrogen tanks. SGL Carbon works directly with system integrators to develop tailored carbon fiber solutions for specific storage pressure and capacity requirements.

Innovation & Growth Initiatives:

• Specialization in large-tow carbon fibers for cost-effective mass production of tanks

• Active participation in European Union-funded hydrogen infrastructure projects (e.g., H2Bus Consortium)

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

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6️⃣ 5. Mitsubishi Chemical Carbon Fiber and Composites, Inc.

Headquarters: Sacramento, California, USA (Subsidiary of Mitsubishi Chemical Group, Japan)
Key Offering: Pyrofil® Carbon Fiber

Mitsubishi Chemical Group is a global leader in advanced materials, with its carbon fiber division supplying Pyrofil® products for a range of high-performance applications. The company’s carbon fibers are engineered to provide the tensile strength and fatigue resistance necessary for reliable, long-life hydrogen storage tanks in both automotive and stationary applications.

Innovation & Growth Initiatives:

• Development of intermediate-modulus carbon fibers optimized for high-pressure vessel winding

• Expansion of global supply chains to support the hydrogen economy in North America and Asia

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5️⃣ 6. Solvay

Headquarters: Brussels, Belgium
Key Offering: Specialty Polymers, Carbon Fiber Composite Materials

Solvay is a key player in the advanced materials space, providing the specialty polymers and composite materials that are essential for hydrogen storage. While not a primary carbon fiber producer, Solvay supplies the high-performance epoxy resins and thermoplastic liners used in conjunction with carbon fiber to create safe and efficient Type III and Type IV tanks.

Innovation & Growth Initiatives:

• Innovation in liner technology to prevent hydrogen permeation

• Partnerships with carbon fiber producers and tank manufacturers for integrated solutions

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4️⃣ 7. Hyosung Advanced Materials

Headquarters: Seoul, South Korea
Key Offering: TANSOME® Carbon Fiber

Hyosung Advanced Materials is a major South Korean industrial conglomerate that has emerged as a significant global supplier of carbon fiber. Its TANSOME® brand carbon fibers are increasingly being adopted for hydrogen storage tanks, particularly in the growing Asian market. The company is investing heavily to scale production and capture market share in the clean energy sector.

Innovation & Growth Initiatives:

• Aggressive capacity expansion to become a top-tier global carbon fiber supplier

• Focus on cost-competitive carbon fiber grades suitable for mass-market hydrogen applications

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3️⃣ 8. Zhongfu Shenying Carbon Fiber Co., Ltd.

Headquarters: Lianyungang, Jiangsu, China
Key Offering: ZT Series Carbon Fiber

Zhongfu Shenying is one of China’s leading carbon fiber manufacturers, playing a critical role in supplying the domestic hydrogen industry. The company produces a range of carbon fibers that meet the specifications for Type III and Type IV hydrogen tanks, supporting China’s national strategy to become a leader in hydrogen energy and FCEVs.

Innovation & Growth Initiatives:

• Rapid scaling of production capacity to fulfill domestic demand driven by government mandates

• Development of carbon fibers tailored for the Chinese automotive and transportation sectors

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2️⃣ 9. Formosa Plastics Corporation

Headquarters: Taipei, Taiwan
Key Offering: Formosa Tairylan® Carbon Fiber

Formosa Plastics Corporation is a major chemical company with a growing presence in the carbon fiber market. Its Formosa Tairylan® carbon fibers are used in various industrial applications, including pressure vessels. The company is positioning itself to be a key supplier for the hydrogen storage market in Asia and beyond.

Innovation & Growth Initiatives:

• Investment in new production lines to increase carbon fiber output for energy applications

• Exploring strategic ventures to integrate into the hydrogen value chain

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1️⃣ 10. DowAksa

Headquarters: Istanbul, Turkey (Joint Venture of Dow Inc. and Aksa Akrilik)
Key Offering: Industrial-grade Carbon Fiber

DowAksa is a leading joint venture focused on the production of industrial-grade carbon fiber. The company supplies carbon fibers for a variety of applications, including wind energy, infrastructure, and increasingly, hydrogen storage tanks. DowAksa is recognized for providing a cost-effective carbon fiber solution for emerging clean technologies.

Innovation & Growth Initiatives:

• Focus on industrial-scale production to drive down the cost of carbon fiber for hydrogen tanks

• Leveraging the global reach of Dow Inc. to expand market penetration

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

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🌍 Outlook: The Future of Hydrogen Storage Is Lightweight and High-Pressure

The carbon fiber for hydrogen storage market is undergoing a transformative phase. While the technology is already established, the focus is shifting towards cost reduction, mass production, and performance enhancement to make hydrogen a widely accessible energy carrier.

📈 Key Trends Shaping the Market:

• Accelerated adoption of Type IV tanks due to their superior weight savings for mobility applications

• Government mandates and subsidies for FCEVs and hydrogen refueling infrastructure, particularly in the EU, China, and the US

• R&D into new carbon fiber precursors and manufacturing processes to lower production costs

• Strategic alliances between carbon fiber producers, tank manufacturers, and automotive OEMs to streamline the supply chain

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

The companies listed above are not only supplying a critical material—they are building the foundational infrastructure for a decarbonized global energy system.