The carbon fiber market was estimated to grow from USD 4.23 billion in 2021 to USD 7.34 billion in 2028 at a CAGR of 8.09% during 2022-2028.
Carbon fibers are crystalline filaments of carbon atoms that are thin and strong. These fibers have a diameter of 5 to 10 micrometres and can be used as a strengthening material, particularly in resins and ceramics. Carbon fibers are mostly made of polyacrylonitrile (PAN), but they can also be made of rayon or petroleum pitch. These fibers offer various advantages, such as high stiffness, excellent strength-to-weight ratio, outstanding tensile strength, exceptional chemical resistance, remarkable temperature tolerance, and a low thermal expansion.
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