“Solid growth and strong increase in production capacity in the 2023 reporting year for the overall carbon fiber market“

Since 2010, Composites United e.V. (CU) has published its annual market report – “The global market for carbon fibers and carbon composites” – in German and English. The report serves as an overview and assessment of the current market situation in an international context and at the same time provides information on current challenges and trends. The latest version of the market report for the completed reporting year 2023 is now available and was presented at JEC World 2024 in Paris. 

We can see a positive overall picture for the 2023 reporting year. Market growth is solid, and the further development forecast is also consistently positive.

A direct year-on-year comparison shows growth in global carbon fiber demand of +9.3%, with an average annual growth rate of +10.26% (CAGR 2010-2023) over the period since 2010. The market as a whole has therefore now successfully overcome the tense situation around 2019/2020 and is increasingly strengthening promising future potential.

The production capacities added in the reporting year are well above average for an analysis since at least 2016. The expansion activities are not only attributable to a recovery reaction for further development after 2020, but also describe a clear growth signal. The exact characteristics will have to be determined in more detail in subsequent years, but this year’s expansion volume already underlines both the manufacturers’ continued confidence in positive market growth and the associated renewed willingness to invest with a long-term planning horizon. Further details and special news from the reporting year can be found in the long version of the market report.

Figure 1: Development of the global average CF demand volume from 2010 to 2026 (*estimates; 03/2024)

All CU members can access the extended version of the report free of charge. Non-members can purchase the extended version of the report for a fee. In addition, the CU provides a highly consolidated short version for the public on its website.

German language short version
English language short version

Your contact for questions about the report, the interpretation of the data shown and for orders:

Composites United (CU)

Michael Sauer