This report presents a cost analysis of Carbon Fiber production from pitch. The process starts with a preparation step that converts the pitch into mesophase pitch. The mesophase pitch is then stabilized and passes through carbonization, graphitization, surface treatment and sizing, before being wound. This report was developed based essentially on the following reference(s): (1) "Fibers, 5. Synthetic Inorganic", Ullmann's Encyclopedia of Industrial Chemistry, 7th edition (2) US Patent 4999099, issued to Conoco in 2011 (3) Chung, D.D.L., Carbon Fiber Composites, 1994 Keywords: Carbon Fiber, Petroleum Pitch, Coal Tar Pitch, Mesophase Pitch