More than 160,000 metric tons of carbon fibers are produced yearly worldwide, with the market anticipated to reach approximately $8.9 billion by 2028, driven by increasing demand emanating from the aerospace, automotive, and renewable energy sectors. Major Carbon Fiber Manufacturer companies continue to develop properties of tensile strength, modulus, heat resistance, and more while reducing their production costs, in order to meet the rising industrial applications of the material.
Toray Industries, Japan-based, currently leads the carbon fiber market, holding 30% of the global market share and supplying the major aerospace giants Boeing and Airbus. The company’s T1100G carbon fiber features one of the highest tensile strengths of any aerospace-grade fiber at 7,000 MPa and a modulus of 320 GPa. The acquisition of TenCate Advanced Composites further cemented Toray’s standing by adding more high-performance material products to its portfolio.
Hexcel Corporation is an American leading manufacturer of PAN-based carbon fibers for Formula 1, defense, and wind energy applications. HexTow IM7 fiber has a tensile modulus of 297 GPa and balances lightweight properties with high impact resistance. More than 50% of Boeing’s 787 Dreamliner features Hexcel’s materials in its composite structure, which reduces the aircraft weight by 20% and increases fuel efficiency.
SGL Carbon is a German company manufacturing large-tow carbon fibers optimized for industrial applications, including automotive and infrastructure. SIGRAFIL 50k tow carbon fiber used by the company has higher strength at a much lower price than other forms of carbon fiber available in the market, reducing the production cost for automotive companies like BMW. For the first series-produced vehicle featuring carbon fiber-reinforced structure, BMW i3 has achieved a weight reduction of 250 kg, resulting in 15% improvement in energy efficiency.
Mitsubishi Chemical Carbon Fiber and Composites supplies aerospace and sporting goods industries, offering PAN and pitch-based carbon fibers. The company’s DIALEAD pitch-based fibers exhibit ultra-high modulus values exceeding 900 GPa, making them ideal for satellite structures requiring extreme rigidity. Japan’s Hayabusa2 spacecraft, which collected asteroid samples from Ryugu, utilized Mitsubishi’s high-modulus carbon fibers for its structural panels.
Teijin Limited is another big manufacturer of carbon fiber, which supplies high-performance materials for automotive applications. The company’s TENAX carbon fiber provides high damage tolerance, hence suitable for crash-resistant vehicle structures. Teijin partnered with General Motors to develop lightweight composite solutions, reducing electric vehicle chassis weight by 35% while maintaining structural integrity.
Elon Musk referred to carbon fiber, saying, “Lightweight materials would be crucial in making space travel economic.” Carbon fiber composites were used initially in the Starship prototypes of SpaceX, which then, not being economic enough, changed into stainless steel. Because of its critical strength-to-weight ratio, carbon fiber is common among aerospace structures.
Carbon fiber production has continued to progress toward sustainability with manufacturing companies adopting recycling technologies for the production of carbon fiber, thereby reducing environmental impact. Europe’s Carbon Fiber Circular Alliance says that more than 30% of carbon fiber waste will be reclaimed in 2030 and reused in secondary applications, such as automotive components and consumer electronics.
As world industries require lighter, stronger, and more sustainable materials, carbon fiber manufacturing leaders continue to push the boundaries of composite technology. Innovations in high-tensile fibers, automated production methods, and recycling processes ensure that carbon fiber will continue to be a vital material in aerospace, automotive, and industrial applications for years to come.