Global carbon fiber market to grow at a CAGR of 13% over 2022-27

According to a report released by Markets and Markets, an international market research firm, the global carbon fiber market will reach $6.5 billion in 2022 and is expected to increase to $11.9 billion by 2027, with a compound annual growth rate of 13% during this period. The aerospace and defense industry and the growing demand for wind energy are the main reasons for the continued and steady growth of this market.