Carbon fibers or carbon fibres (alternatively CF, graphite fiber or graphite fibre) are fibers about 5 to 10 micrometers (0.00020–0.00039 in) in diameter and composed mostly of carbon atoms. Carbon fibers have several advantages: high stiffness, high tensile strength, high strength to weight ratio, high chemical resistance, high-temperature tolerance, and low thermal expansion. These properties have made carbon fiber very popular in aerospace, civil engineering, military, motorsports, and other competition sports. However, they are relatively expensive compared to similar fibers, such as glass fiber, basalt fibers, or plastic fibers.

To produce a carbon fiber, the carbon atoms are bonded together in crystals that are more or less aligned parallel to the fiber's long axis as the crystal alignment gives the fiber a high strength-to-volume ratio (which is to say, the fiber is strong for its size). Several thousand carbon fibers are bundled together to form a tow, which may be used by itself or woven into a fabric.

Carbon fibers are usually combined with other materials to form a composite. For example, when permeated with a plastic resin and baked, it forms carbon-fiber-reinforced polymer (often referred to as carbon fiber), which has a very high strength-to-weight ratio and is extremely rigid although somewhat brittle. Carbon fibers are also composited with other materials, such as graphite, to form reinforced carbon-carbon composites, which have a very high heat tolerance.

Carbon fiber-reinforced materials are used to make aircraft and spacecraft parts, racing car bodies, golf club shafts, bicycle frames, camera tripods, fishing rods, automobile springs, sailboat masts, and many other components where light weight and high strength are needed.

In 1860, Joseph Swan produced carbon fibers for the first time, for use in light bulbs. In 1879, Thomas Edison baked cotton threads or bamboo slivers at high temperatures carbonizing them into an all-carbon fiber filament used in one of the first incandescent light bulbs to be heated by electricity. In 1880, Lewis Latimer developed a reliable carbon wire filament for the incandescent light bulb, heated by electricity.

In 1958, Roger Bacon created high-performance carbon fibers at the Union Carbide Parma Technical Center located outside of Cleveland, Ohio. Those fibers were manufactured by heating strands of rayon until they carbonized. This process proved to be inefficient, as the resulting fibers contained only about 20% carbon. In the early 1960s, a process was developed by Dr. Akio Shindo at Agency of Industrial Science and Technology of Japan, using polyacrylonitrile (PAN) as a raw material. This had produced a carbon fiber that contained about 55% carbon. In 1960 Richard Millington of H.I. Thompson Fiberglas Co. developed a process (US Patent No. 3,294,489) for producing a high carbon content (99%) fiber using rayon as a precursor. These carbon fibers had sufficient strength (modulus of elasticity and tensile strength) to be used as a reinforcement for composites having high strength to weight properties and for high temperature resistant applications.

The high potential strength of carbon fiber was realized in 1963 in a process developed by W. Watt, L. N. Phillips, and W. Johnson at the Royal Aircraft Establishment at Farnborough, Hampshire. The process was patented by the UK Ministry of Defence, then licensed by the British National Research Development Corporation to three companies: Rolls-Royce, who were already making carbon fiber; Morganite; and Courtaulds. Within a few years, after successful use in 1968 of a Hyfil carbon-fiber fan assembly in the Rolls-Royce Conway jet engines of the Vickers VC10, Rolls-Royce took advantage of the new material's properties to break into the American market with its RB-211 aero-engine with carbon-fiber compressor blades. Unfortunately, the blades proved vulnerable to damage from bird impact. This problem and others caused Rolls-Royce such setbacks that the company was nationalized in 1971. The carbon-fiber production plant was sold off to form Bristol Composite Materials Engineering Ltd (often referred to as Bristol Composites).

In the late 1960s, the Japanese took the lead in manufacturing PAN-based carbon fibers. A 1970 joint technology agreement allowed Union Carbide to manufacture Japan's Toray Industries product. Morganite decided that carbon-fiber production was peripheral to its core business, leaving Courtaulds as the only big UK manufacturer. Courtaulds's water-based inorganic process made the product susceptible to impurities that did not affect the organic process used by other carbon-fiber manufacturers, leading Courtaulds ceasing carbon-fiber production in 1991. ^{[clarification needed]}