Abstract This study highlights the performance of ultra-lightweight fireproof composite. Polyacrylonitrile (PAN) based carbon fiber (CF) has been reinforced in Polyetherimide (PEI) polymer to develop the composite. The Surface of CF and PEI film was modified by low-pressure plasma to improve the bonding strength between matrix and reinforcement. The polymeric composite was fabricated by compression moulding with a pressure of 2 bar, temperature of 380 ℃ and holding time of 30 min. CF/PEI composite was used to make a hybrid composite by layering of silicone foam in between the layers. The hybrid composite was exposed to a Bunsen burner under sustained flame for a duration of 10 minutes. The composite panel's flame-facing side reached 676.2°C after 10 minutes of fire exposure, while the temperature on the other side only reached 58.2°C. The fabricated hybrid composite was exposed to very low temperature in order to test its ability of thermal insulation under extreme cold temperature. Over the specific period of testing, the temperature of the dry ice decreased from 25°C to -3.1°C. After exposure to fire, only minimal loss of material was observed. The hybrid composite of carbon fiber and PEK film, sandwiched between silicone foam, exhibits excellent fire resistance due to its high limiting oxygen index (LOI). This composite is considered to be among the best thermally insulating and fire-resistant materials. Thermogravimetric analysis (TGA) of carbon fiber and PEI-Carbon fiber composite was performed to determine the optimal processing temperature of compression moulding for the composite, upon heating, it showed a modest weight decrease of 6.053%. The composite shows a significant improvement of impact resistance, compressive strength and thermal stability. A simulation model was developed under Ansys fluent software for both heating and cooling. The analysis of developed model also shows similar results.