×
Request Free Sample ×

Kindly complete the form below to receive a free sample of this Report

* Please use a valid business email

Leading companies partner with us for data-driven Insights

clients tt-cursor
Hero Background

US PAN Based Carbon Fibers Market

ID: MRFR/CnM/15802-HCR
100 Pages
Chitranshi Jaiswal
October 2025

US PAN-Based Carbon Fibers Market Research Report: By Application (Aerospace & Defense, Wind Energy, Sports & Leisure, Automotive, Construction, Others) and By Product Type (Composite, Non-Composite) - Forecast to 2035

Share:
Download PDF ×

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

US PAN Based Carbon Fibers Market Infographic
Purchase Options

US PAN Based Carbon Fibers Market Summary

As per Market Research Future analysis, the US pan based-carbon fibers market size was estimated at 669.6 USD Million in 2024. The US pan based-carbon-fibers market is projected to grow from 748.48 USD Million in 2025 to 2279.85 USD Million by 2035, exhibiting a compound annual growth rate (CAGR) of 11.7%8% during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The US The pan based-carbon fibers market is experiencing robust growth, driven by diverse applications and technological advancements.

  • The aerospace sector is witnessing a rising demand for pan based-carbon-fibers due to their lightweight and high-strength properties.
  • The automotive industry is increasingly adopting pan based-carbon-fibers to enhance fuel efficiency and performance.
  • Sustainable practices are becoming a focal point, with manufacturers prioritizing eco-friendly production methods.
  • Technological advancements in manufacturing and regulatory support for advanced materials are key drivers propelling market growth.

Market Size & Forecast

2024 Market Size 669.6 (USD Million)
2035 Market Size 2279.85 (USD Million)
CAGR (2025 - 2035) 11.78%

Major Players

Toray Industries (JP), Mitsubishi Chemical Corporation (JP), SGL Carbon (DE), Teijin Limited (JP), Hexcel Corporation (US), Cytec Industries (US), Zoltek Companies (US), Formosa Plastics Corporation (TW), Kordsa Teknik Tekstil A.S. (TR)

US PAN Based Carbon Fibers Market Trends

The The pan based-carbon fibers market is currently experiencing notable growth, driven by increasing demand across various industries such as aerospace, automotive, and construction. This growth is largely attributed to the material's lightweight properties, high strength, and resistance to heat and chemicals. As manufacturers seek to enhance product performance and reduce overall weight, the adoption of pan based-carbon fibers is becoming more prevalent. Furthermore, advancements in production technologies are likely to improve efficiency and reduce costs, making these materials more accessible to a wider range of applications. In addition to the expanding applications, sustainability concerns are influencing the pan based-carbon-fibers market. Manufacturers are increasingly focusing on eco-friendly production methods and recycling processes to meet regulatory standards and consumer expectations. This shift towards sustainability may enhance the market's appeal, particularly among environmentally conscious consumers and businesses. As the industry evolves, it appears that innovation and sustainability will play crucial roles in shaping the future landscape of the pan based-carbon-fibers market.

Rising Demand in Aerospace Sector

The aerospace industry is increasingly utilizing pan based-carbon fibers due to their lightweight and high-strength characteristics. This trend is likely to continue as manufacturers seek to improve fuel efficiency and performance in aircraft design.

Automotive Industry Adoption

The automotive sector is progressively integrating pan based-carbon fibers into vehicle production. This shift is driven by the need for lighter materials that enhance fuel efficiency and reduce emissions, aligning with regulatory pressures and consumer preferences.

Focus on Sustainable Practices

There is a growing emphasis on sustainability within the pan based-carbon-fibers market. Manufacturers are exploring eco-friendly production techniques and recycling options, which may attract environmentally conscious consumers and comply with evolving regulations.

Market Segment Insights

By Type: Composites (Largest) vs. Non-Composites (Fastest-Growing)

In the US pan based-carbon-fibers market, composites hold a significant share, dominating the landscape due to their extensive applications across various industries such as aerospace, automotive, and construction. Non-composites, while currently smaller in market share, are gaining traction as they find new applications in emerging sectors. Growth trends indicate that non-composites are poised for rapid expansion, driven by technological advancements and increasing demand for lightweight materials. As industries prioritize sustainability and performance, non-composites are emerging as a viable alternative, attracting investments and driving innovation in the segment.

Composites (Dominant) vs. Non-Composites (Emerging)

Composites are characterized by their superior strength-to-weight ratio and resistance to corrosion, making them the preferred choice across various high-performance applications. Their dominant position is attributed to extensive use in aerospace and automotive industries, where performance and durability are critical. On the other hand, non-composites are quickly becoming an emerging segment, offering unique advantages in cost and versatility. With the growing focus on sustainability and manufacturing efficiency, non-composites are appealing to new players, fostering innovation and development, which sets the stage for their future growth.

By Application: Aerospace & Defense (Largest) vs. Automotive (Fastest-Growing)

In the US pan based-carbon-fibers market, the application segment is diversified, with aerospace & defense holding the largest share due to its critical role in developing advanced lightweight materials for aircraft and defense systems. Other notable segments include automotive and wind energy, which are also gaining traction as manufacturers seek to integrate carbon fibers for their superior strength-to-weight ratios. This distribution shows a dynamic shift towards applications that can leverage the unique properties of carbon fibers to enhance performance and efficiency. Looking forward, the growth trends within this segment are supported by increasing demand for lightweight materials, particularly in automotive and aerospace applications. The automotive sector is experiencing rapid advancements in electric vehicles, prompting manufacturers to seek innovative materials that can reduce weight and improve fuel efficiency. Meanwhile, developments in wind energy technology are driving adoption within that sector, reinforcing carbon fibers as a preferred choice for enhancing turbine efficiency and durability.

Automotive (Dominant) vs. Wind Energy (Emerging)

The automotive segment continues to be a dominant force in the US pan based-carbon-fibers market, primarily due to the industry's pivot towards electric and hybrid vehicles. This shift demands materials that not only reduce weight but also offer enhanced safety and performance features. Carbon fibers are being increasingly utilized in critical components such as body panels, chassis, and interiors, proving advantageous for manufacturers aiming to meet stringent regulatory requirements and consumer expectations for fuel efficiency. In contrast, the wind energy segment is emerging as a significant player, where carbon fibers are employed in the production of turbine blades. This application capitalizes on the material's lightweight and strong characteristics, facilitating the construction of larger and more efficient wind turbines that can harness greater energy from wind currents.

Get more detailed insights about US PAN Based Carbon Fibers Market

Key Players and Competitive Insights

The pan based-carbon-fibers market is currently characterized by a dynamic competitive landscape, driven by increasing demand across various sectors such as aerospace, automotive, and construction. Key players are actively pursuing strategies that emphasize innovation, sustainability, and regional expansion. For instance, Toray Industries (Japan) has positioned itself as a leader through continuous investment in R&D, focusing on high-performance materials that cater to the evolving needs of its clients. Similarly, Hexcel Corporation (US) has been enhancing its operational capabilities by integrating advanced manufacturing technologies, which not only improve efficiency but also reduce environmental impact. These strategic initiatives collectively contribute to a competitive environment that is increasingly focused on technological advancement and sustainability.

In terms of business tactics, companies are localizing manufacturing to better serve regional markets and optimize supply chains. This approach appears to be particularly effective in a moderately fragmented market structure, where the collective influence of key players shapes pricing strategies and product availability. The emphasis on supply chain optimization is evident as firms seek to mitigate risks and enhance responsiveness to market demands, thereby fostering a more resilient operational framework.

In October 2025, Mitsubishi Chemical Corporation (Japan) announced a strategic partnership with a leading aerospace manufacturer to develop next-generation carbon fiber composites. This collaboration is expected to leverage both companies' strengths in material science and aerospace engineering, potentially leading to innovative solutions that meet stringent industry standards. The strategic importance of this partnership lies in its potential to enhance product offerings and expand market reach, particularly in the aerospace sector, which is increasingly prioritizing lightweight materials for fuel efficiency.

In September 2025, SGL Carbon (Germany) unveiled a new production facility in the US aimed at increasing its output of carbon fibers for the automotive industry. This facility is expected to utilize state-of-the-art technology to enhance production efficiency and reduce costs. The establishment of this facility signifies SGL Carbon's commitment to meeting the growing demand for lightweight materials in the automotive sector, which is crucial for manufacturers aiming to comply with stringent emissions regulations.

In August 2025, Zoltek Companies (US) launched a new line of sustainable carbon fibers derived from renewable sources. This initiative aligns with the increasing market demand for environmentally friendly materials and positions Zoltek as a forward-thinking player in the industry. The strategic importance of this launch is underscored by the growing consumer preference for sustainable products, which could enhance Zoltek's competitive edge in a market that is progressively leaning towards sustainability.

As of November 2025, the competitive trends in the pan based-carbon-fibers market are increasingly defined by digitalization, sustainability, and the integration of AI technologies. Strategic alliances are becoming more prevalent, as companies recognize the value of collaboration in driving innovation and enhancing market presence. Looking ahead, it is likely that competitive differentiation will evolve, shifting from traditional price-based competition to a focus on innovation, technological advancements, and supply chain reliability. This transition suggests that companies that prioritize these aspects will be better positioned to thrive in an increasingly competitive landscape.

Key Companies in the US PAN Based Carbon Fibers Market market include

Industry Developments

The US PAN-Based Carbon Fibers Market has witnessed significant developments in recent months. In September 2023, Boeing announced an increase in its utilization of carbon fiber in aircraft manufacturing, emphasizing sustainable materials in response to rising fuel efficiency demands. Park Aerospace Corp reported expanded production capabilities in August 2023 to meet increasing orders from aerospace clients, further enhancing its competitive edge.

Additionally, Cytec Solvay Group initiated a collaboration with General Electric in July 2023 for developing advanced carbon composites for the aerospace sector, demonstrating a trend towards partnerships that leverage innovation. In a notable acquisition, Rolls-Royce acquired a stake in a startup focused on innovative carbon composite technologies in June 2023, aligning with its strategy to enhance its materials portfolio.

Over the past two years, the market has experienced growth, driven by increased demand for lightweight materials in aerospace and automotive applications, with major players like Toray Industries and SGL Carbon boosting production facilities to meet this demand. The market's valuation has seen a steady increase, positively impacting various sectors reliant on these advanced materials, and fostering ongoing investments in Research and Development across the industry.

US PAN-Based Carbon Fibers Market Segmentation Insights

PAN-Based Carbon Fibers Market Application Outlook

    • Aerospace & Defense
    • Wind Energy
    • Sports & Leisure
    • Automotive
    • Construction
    • Others

PAN-Based Carbon Fibers Market Product Type Outlook

    • Composite
    • Non-Composite

Future Outlook

US PAN Based Carbon Fibers Market Future Outlook

The pan based-carbon-fibers market is projected to grow at 11.78% CAGR from 2024 to 2035, driven by advancements in aerospace, automotive, and renewable energy sectors.

New opportunities lie in:

  • Development of lightweight composite materials for automotive applications.
  • Expansion into renewable energy sectors with carbon fiber wind turbine blades.
  • Investment in recycling technologies for sustainable carbon fiber production.

By 2035, the market is expected to achieve substantial growth, driven by innovation and strategic investments.

Market Segmentation

US PAN Based Carbon Fibers Market Type Outlook

  • composites
  • non-composites

US PAN Based Carbon Fibers Market Application Outlook

  • aerospace & defense
  • automotive
  • construction
  • wind energy
  • sports & leisure
  • others

Report Scope

MARKET SIZE 2024669.6(USD Million)
MARKET SIZE 2025748.48(USD Million)
MARKET SIZE 20352279.85(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)11.78% (2024 - 2035)
REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR2024
Market Forecast Period2025 - 2035
Historical Data2019 - 2024
Market Forecast UnitsUSD Million
Key Companies Profiled["Toray Industries (JP)", "Mitsubishi Chemical Corporation (JP)", "SGL Carbon (DE)", "Teijin Limited (JP)", "Hexcel Corporation (US)", "Cytec Industries (US)", "Zoltek Companies (US)", "Formosa Plastics Corporation (TW)", "Kordsa Teknik Tekstil A.S. (TR)"]
Segments CoveredType, Application
Key Market OpportunitiesGrowing demand for lightweight materials in automotive and aerospace sectors drives pan based-carbon-fibers market expansion.
Key Market DynamicsRising demand for lightweight materials drives innovation and competition in the pan based-carbon-fibers market.
Countries CoveredUS

Leave a Comment

FAQs

What is the expected market size of the US PAN-Based Carbon Fibers Market in 2024?

The US PAN-Based Carbon Fibers Market is expected to be valued at 669.6 million USD in 2024.

What will be the market value of the US PAN-Based Carbon Fibers Market by 2035?

By 2035, the US PAN-Based Carbon Fibers Market is projected to reach a value of 2481.32 million USD.

What is the expected CAGR for the US PAN-Based Carbon Fibers Market from 2025 to 2035?

The market is anticipated to grow at a compound annual growth rate (CAGR) of 12.646% from 2025 to 2035.

Which application will lead the market share in aerospace and defense in 2035?

In 2035, the aerospace and defense application of the US PAN-Based Carbon Fibers Market is expected to be valued at 600.0 million USD.

What is the market size for automotive applications in the US PAN-Based Carbon Fibers Market in 2024?

In 2024, the automotive application segment is projected to be valued at 200.0 million USD.

Which are the key players in the US PAN-Based Carbon Fibers Market?

Major players in this market include Boeing, Hexcel Corporation, and Mitsubishi Rayon among others.

How much is the wind energy segment expected to grow by 2035?

The wind energy segment is expected to reach a market value of 500.0 million USD by 2035.

What is the projected market size for the sports and leisure application by 2035?

The sports and leisure segment is projected to be valued at 300.0 million USD by 2035.

How much is the construction application expected to be worth in 2035?

The construction application is expected to be valued at 281.32 million USD by 2035.

What is the growth potential for the US PAN-Based Carbon Fibers Market?

The market shows significant growth potential, driven by increasing demand across various applications such as aerospace and automotive.

Download Free Sample

Kindly complete the form below to receive a free sample of this Report

Compare Licence

×
Features License Type
Single User Multiuser License Enterprise User
Price $4,950 $5,950 $7,250
Maximum User Access Limit 1 User Upto 10 Users Unrestricted Access Throughout the Organization
Free Customization
Direct Access to Analyst
Deliverable Format
Platform Access
Discount on Next Purchase 10% 15% 15%
Printable Versions