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Carbon Fiber Roving Market

The market for Carbon Fiber Roving was estimated at $2.4 billion in 2024; it is anticipated to increase to $4.5 billion by 2030, with projections indicating growth to around $7.8 billion by 2035.

Report ID:DS1308019
Author:Vineet Pandey - Business Consultant
Published Date:
Datatree
Chemicals & Materials
Composite
Carbon Fiber Roving
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Report Summary
Market Data
Methodology
Table of Contents

Global Carbon Fiber Roving Market Outlook

Revenue, 2024

$2.4B

Forecast, 2034

$7.0B

CAGR, 2025 - 2034

11.4%

The Carbon Fiber Roving industry revenue is expected to be around $2.6 billion in 2025 and expected to showcase growth with 11.4% CAGR between 2025 and 2034. The Carbon Fiber Roving market shows strong growth because it finds increasing use in different industries. The material stands out because it offers high stiffness and tensile strength and low weight and chemical resistance and high-temperature tolerance and low thermal expansion which makes it suitable for various applications. The market gains importance because of technological progress and increasing industrial need for lightweight durable materials in aerospace and automotive and construction sectors.

Carbon Fiber Roving consists of carbon fibers bundled together to provide outstanding strength-to-weight performance. The manufacturing process of carbon fiber reinforced polymers depends on this material because it enables lightweight and high-strength properties which aerospace and automotive industries require. The material shows increasing adoption in renewable energy applications because wind turbine blades benefit from its durability and resistance to environmental factors.

Carbon Fiber Roving market outlook with forecast trends, drivers, opportunities, supply chain, and competition 2024-2034
Carbon Fiber Roving Market Outlook

Market Key Insights

  • The Carbon Fiber Roving market is projected to grow from $2.4 billion in 2024 to $7.0 billion in 2034. This represents a CAGR of 11.4%, reflecting rising demand across Aerospace Industry, Automotive Industry, and Wind Energy Sector.

  • Toray Industries Inc., SGL Carbon, Teijin Limited are among the leading players in this market, shaping its competitive landscape.

  • U.S. and China are the top markets within the Carbon Fiber Roving market and are expected to observe the growth CAGR of 8.3% to 12.0% between 2024 and 2030.

  • Emerging markets including Brazil, India and South Africa are expected to observe highest growth with CAGR ranging between 10.9% to 14.3%.

  • Transition like Advancements in Manufacturing Techniques is expected to add $182 million to the Carbon Fiber Roving market growth by 2030.

  • The Carbon Fiber Roving market is set to add $4.6 billion between 2024 and 2034, with manufacturer targeting Automotive & Industrial Application projected to gain a larger market share.

  • With Increasing demand in automotive industry, and advancements in Aerospace Technology, Carbon Fiber Roving market to expand 194% between 2024 and 2034.

carbon fiber roving market size with pie charts of major and emerging country share, CAGR, trends for 2025 and 2032
Carbon Fiber Roving - Country Share Analysis

Opportunities in the Carbon Fiber Roving

Manufacturing technology progress creates new opportunities for the Carbon Fiber Roving market. The improvement of production methods will also decrease expenses which will make this material available for different uses. The new possibilities emerge for developing innovative products that use Carbon Fiber Roving.

Growth Opportunities in North America and Asia-Pacific

The United States together with North America represents a major market for Carbon Fiber Roving because of its strong aerospace and defense sector. The region maintains its market leadership because of technological progress and high automotive sector requirements for lightweight durable materials. The market faces intense competition because Hexcel Corporation and Toray Industries along with other major players dedicate substantial funds to research and development. The regional market for Carbon Fiber Roving experiences substantial growth because wind turbines and other renewable energy applications continue to adopt this material.
The Asia-Pacific region leads the Carbon Fiber Roving market because China has a large manufacturing base and rising interest in lowering vehicle emissions. The Asia-Pacific region experiences growing Carbon Fiber Roving demand because its wind energy sector expands quickly and aerospace applications increasingly use carbon composites. The market shows intense competition because Mitsubishi Chemical Holdings and Teijin Limited along with other major players work to increase their market presence. The Asia-Pacific region experiences growing demand for high-performance materials because of increasing automotive and construction industry requirements.

Market Dynamics and Supply Chain

01

Driver: Increasing Demand in Automotive Industry, and Growth in Wind Energy Sector

The automotive industry's expanding need for lightweight materials also creates substantial market growth opportunities for Carbon Fiber Roving. The automotive industry uses Carbon Fiber Roving to make lightweight parts because of its exceptional strength-to-weight ratio which enhances both fuel efficiency and vehicle performance. The market for Carbon Fiber Roving will also experience substantial growth because of the ongoing trend toward building lighter vehicles. The rapid expansion of the global wind energy sector is also a key growth driver for the Carbon Fiber Roving market. Its superior strength-to-weight ratio and fatigue resistance make it ideal for manufacturing longer, lighter wind turbine blades that improve energy capture and operational efficiency. As investments in offshore and onshore wind projects rise, manufacturers increasingly adopt carbon fiber solutions to enhance turbine durability, performance, and lifecycle economics.
The continuous evolution of aerospace technology is also driving demand for materials that combine exceptional strength with minimal weight to improve fuel efficiency and structural performance. Carbon Fiber Roving is also increasingly adopted in aircraft fuselages, wings, and interior components due to its high tensile strength, corrosion resistance, and low thermal expansion. As next-generation aircraft and space programs expand, reliance on Carbon Fiber Roving will also further accelerate market growth.
02

Restraint: High Production Cost

The manufacturing process of Carbon Fiber Roving requires advanced methods and premium materials which drive up production expenses. The high production expenses are passed on to consumers which restricts market expansion because they make the product unaffordable for multiple industries that need to stay within budget constraints.
03

Opportunity: Expansion into Aerospace Industry and Strategic Collaborations with Automotive Industry

The aerospace industry represents a substantial market opportunity for Carbon Fiber Roving applications. The materials exceptional strength-to-weight ratio combined with its durability and corrosion resistance makes it suitable for aircraft manufacturing and upkeep. The aerospace industry will require more lightweight high-strength materials including Carbon Fiber Roving because it aims to enhance fuel efficiency and minimize environmental effects.
The automotive industry's transition to electric and lightweight vehicles creates a major opportunity for Carbon Fiber Roving. Automotive manufacturers should form strategic partnerships with Carbon Fiber Roving suppliers to access the expanding market demand. The material matches the industry requirements for lightweight durable electric vehicle components thus creating a promising growth opportunity.
04

Challenge: Technical Challenges in Recycling

Carbon Fiber Roving, despite its numerous advantages, presents significant challenges when it comes to recycling. The lack of efficient recycling methods results in substantial waste, posing environmental concerns. This not only affects the market demand but also puts pressure on manufacturers to invest in research and development to devise sustainable recycling techniques, thus impeding market growth.

Supply Chain Landscape

1

Raw Material Suppliers

Toray IndustriesMitsubishi Chemical Holdings
2

Producers

SGL GroupHexcel Corporation
3

Intermediate Product Manufacturers

Teijin LimitedHyosung Advanced Materials Corporation
4

End-User Industry

AutomotiveAerospace & DefenseWind Energy
Carbon Fiber Roving - Supply Chain

Use Cases of Carbon Fiber Roving in Aerospace Industry & Wind Energy Sector

Aerospace Industry : The aerospace industry is one of the most significant users of Carbon Fiber Roving. The high strength-to-weight ratio, corrosion resistance, and durability of Carbon Fiber Roving make it ideal for manufacturing aircraft components. High tensile strength Carbon Fiber Roving is predominantly used in this sector to enhance the structural integrity of aircraft. Prominent players in this industry, such as Boeing and Airbus, utilize Carbon Fiber Roving extensively to reinforce the fuselage, wings, and tail of their aircraft, solidifying their market position through superior product performance and longevity.
Automotive Industry : The automotive industry also extensively utilizes Carbon Fiber Roving, particularly in the production of high-performance cars. The light-weight nature of Carbon Fiber Roving, combined with its exceptional strength and stiffness, contributes to improved fuel efficiency and enhanced vehicle performance. High-modulus Carbon Fiber Roving is typically employed in this application to produce lightweight vehicle parts without compromising on strength. Leading automotive manufacturers like BMW and Lamborghini incorporate Carbon Fiber Roving in their vehicle design, thereby gaining a competitive edge in the market through improved fuel efficiency and performance.
Wind Energy Sector : The wind energy sector represents another significant application of Carbon Fiber Roving. The materials exceptional stiffness and lightweight properties make it an ideal choice for wind turbine blade construction. The use of intermediate modulus Carbon Fiber Roving in this application ensures the blades can withstand high wind pressures while maintaining their structural integrity.

Recent Developments

In recent years, the market for Carbon Fiber Roving has experienced significant growth, driven by advancements in technology and increasing demand in various industries. This high-strength, lightweight material has found extensive use in the aerospace, automotive, and construction sectors, among others. One key trend shaping the Carbon Fiber Roving market is the rising demand for fuel-efficient vehicles. As manufacturers strive to reduce vehicle weight and increase fuel efficiency, the use of Carbon Fiber Roving in automotive production has surged.

December 2024 : Toray Industries, a leading manufacturer, announced the expansion of its carbon fiber roving production line to meet the increasing demand in aerospace and automotive industries
November 2024 : Hexcel Corporation introduced a new of carbon fiber roving, boasting enhanced strength and lightweight properties, primarily targeting the sports equipment market
September 2024 : SGL Group, a prominent provider, partnered with an automotive giant to supply high-grade carbon fiber roving for the production of electric vehicle components.

Impact of Industry Transitions on the Carbon Fiber Roving Market

As a core segment of the Composite industry, the Carbon Fiber Roving market develops in line with broader industry shifts. Over recent years, transitions such as Advancements in Manufacturing Techniques and Expansion in Application Areas have redefined priorities across the Composite sector, influencing how the Carbon Fiber Roving market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.
01

Advancements in Manufacturing Techniques

The manufacturing techniques of carbon fiber roving have experienced major developments throughout the industry. The advancements in manufacturing have resulted in creating more efficient and high-quality carbon fiber rovings. The implementation of advanced technologies including automation and robotics has optimized production operations which decreases both production duration and expenses. The manufacturing evolution has delivered better performance characteristics to carbon fiber rovings while expanding their usage across aerospace, automotive and construction industries. The resulting high-strength lightweight materials enhance fuel efficiency and structural integrity in these sectors.
02

Expansion in Application Areas

Another notable transition in the carbon fiber roving industry is the expansion in its application areas. Traditionally, carbon fiber roving's were primarily used in aerospace and automotive industries. However, in recent years, the use of carbon fiber roving's has extended to other sectors like sports equipment, wind energy, and marine. The inherent properties of carbon fiber roving's, such as high tensile strength, low weight, and excellent thermal resistance, have made them a preferred choice in these new application areas.