The Global Carbon Fiber in Automotive Market was valued at USD 893.5 Million in 2021 and is projected to reach USD 1.27 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period (2022–2028). This robust growth is fueled by the automotive industry’s relentless pursuit of vehicle lightweighting to meet stringent emissions regulations, enhance fuel efficiency, and boost performance in both passenger and commercial vehicles.

As the industry pivots towards electric vehicles (EVs) and sustainable manufacturing, carbon fiber composite materials are becoming a cornerstone of next-generation automotive design. In this blog, we profile the Top 10 Companies in the Carbon Fiber Automotive Industry—the material scientists, manufacturers, and innovators shaping the future of lightweight vehicles.

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🔟 1. Toray Industries, Inc.

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

Toray is the world’s largest producer of carbon fibers, holding a significant share of the global market. Its TORAYCA® products are renowned for their high strength, modulus, and quality, making them a preferred choice for automotive structural components, body panels, and pressure vessels for hydrogen storage in fuel cell vehicles.

Innovation & Market Strategy:

• Continuous development of lower-cost, high-volume carbon fiber grades for automotive mass production

• Strategic partnerships with major automotive OEMs like BMW and Daimler

• Heavy investment in R&D for recycling technologies and sustainable production processes

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9️⃣ 2. Hexcel Corporation

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

Hexcel is a leading advanced composites company with a strong presence in aerospace that is increasingly penetrating the automotive sector. The company provides high-performance carbon fiber materials ideal for demanding automotive applications where weight savings and structural integrity are paramount.

Innovation & Market Strategy:

• Focusing on HexMC® molding compounds for high-volume, complex automotive parts

• Expanding capacity to meet growing demand from the electric and high-performance vehicle segments

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Carbon Fiber in Automotive Market – View in Detailed Research Report

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8️⃣ 3. SGL Carbon

Headquarters: Wiesbaden, Germany
Key Offering: SIGRAFIL® carbon fibers, custom composite solutions

SGL Carbon is a key European player with a comprehensive portfolio of carbon-based products. The company has a dedicated business unit for Automotive, supplying materials for body-in-white, chassis, and interior applications, with a strong focus on the premium and motorsport segments.

Innovation & Market Strategy:

• Development of large-scale, automated production processes for carbon fiber components

• Leading role in supplying carbon fiber for BMW’s i-series and other lightweight vehicle programs

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7️⃣ 4. Solvay (formerly Cytec Solvay Group)

Headquarters: Brussels, Belgium
Key Offering: Thermoplastic and thermoset composites, prepregs, adhesives

Solvay is a global leader in advanced materials and specialty chemicals. Its composite materials division offers a wide range of high-performance solutions for automotive, including CYCOM® prepregs and thermoplastics that enable fast cycle times crucial for mass production.

Innovation & Market Strategy:

• Pioneering fast-curing resin systems to reduce manufacturing cycle times and costs

• Strong emphasis on sustainable solutions, including bio-based and recyclable composites

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6️⃣ 5. Teijin Limited

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

Teijin is a diversified chemical company and a major global supplier of carbon fibers and composites. The company is aggressively targeting the automotive market with its innovative technologies, such as its Sereebo® CFRP (Carbon Fiber Reinforced Plastic) process designed for high-speed molding.

Innovation & Market Strategy:

• Development of the Sereebo® rapid molding technology, cutting part production to under a minute

• Strategic acquisitions and joint ventures to strengthen its automotive composites business

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5️⃣ 6. Mitsubishi Chemical Carbon Fiber and Composites

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

Mitsubishi Chemical is another Japanese giant in the carbon fiber space, producing a range of high-quality fibers under the Pyrofil® brand. The company supplies materials for various automotive applications, leveraging its expertise from other sectors like aerospace and industrial equipment.

Innovation & Market Strategy:

• Focus on expanding applications beyond luxury vehicles into mainstream automotive production

• Investment in developing new precursor materials and sustainable manufacturing methods

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4️⃣ 7. Hyosung Advanced Materials

Headquarters: Seoul, South Korea
Key Offering: Tansome® carbon fibers

Hyosung has emerged as a significant global competitor, particularly with its focus on producing large-tow, standard modulus carbon fibers that are more cost-effective for automotive applications. The company is rapidly expanding its production capacity to capture market share.

Innovation & Market Strategy:

• Mass production of 24K and 50K large-tow carbon fibers to drive down costs for automotive use

• Aggressive global expansion, including major production facilities in South Korea and planned investments elsewhere

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3️⃣ 8. Formosa Plastics Corporation

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

Formosa Plastics is a leading petrochemical company that has vertically integrated into carbon fiber production. It is a key supplier of carbon fiber in the Asian market and is increasing its global presence, offering competitive pricing for automotive-grade materials.

Innovation & Market Strategy:

• Leveraging its vertical integration from raw materials to finished fiber to control costs

• Expanding production lines to meet the growing demand from the automotive and wind energy sectors

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2️⃣ 9. Zoltek Companies, Inc. (A part of Toray)

Headquarters: St. Louis, Missouri, USA
Key Offering: PANEX® 35 carbon fibers (large-tow)

Zoltek, now fully integrated into Toray, was a pioneer in commercializing large-tow, lower-cost carbon fibers. Its PANEX® 35 fibers are specifically engineered for high-volume industrial applications, including automotive, where a balance of performance and cost is critical.

Innovation & Market Strategy:

• Specialization in 50K-tow and larger fibers to achieve economies of scale for automotive mass production

• Focus on applications like leaf springs, driveshafts, and structural body components

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1️⃣ 10. Gurit Holding AG

Headquarters: Wattwil, Switzerland
Key Offering: Core materials, structural engineering, kitted components

Gurit is a specialist in composite materials engineering and fabrication. While not a fiber producer, it is a crucial player in the value chain, providing advanced material solutions, design services, and kitted components to automotive manufacturers, particularly in niche and high-performance vehicles.

Innovation & Market Strategy:

• Providing complete engineering solutions from design to serial production support

• Strong focus on lightweight sandwich structures and adhesive bonding technologies for automotive

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Carbon Fiber in Automotive Market – View in Detailed Research Report

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🚗 Outlook: The Future of Carbon Fiber in Automotive is Broader and More Affordable

The carbon fiber automotive market is at a pivotal juncture. While its use was once confined to supercars and motorsports, technological advancements and cost-reduction initiatives are paving the way for broader adoption in mass-market vehicles, especially EVs.

📈 Key Trends Shaping the Market:

• Accelerated EV Adoption: Range anxiety is a key driver; every kilogram saved extends driving range, making carbon fiber critical for battery-electric vehicles (BEVs).

• Manufacturing Process Innovation: Development of high-speed RTM (Resin Transfer Molding), compression molding, and automated tape laying to reduce cycle times from hours to minutes.

• Focus on Recycling: Intensifying R&D into chemical and thermal recycling methods to create a circular economy for carbon fiber composites.

• Multi-Material Design Strategies: Integrating carbon fiber with metals and other composites to optimize performance, cost, and manufacturing efficiency.

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

The companies listed above are not just supplying materials—they are enabling the lightweight revolution that is essential for a more efficient and sustainable automotive future.