High performance pitch-based carbon fiber that makes ingenious use of the mesophase phenomenon that appears in highly refined pitch (optically anisotropic pitch) has been improved in quality in recent years, particularly in Japan. A process is now established for manufacturing high performance carbon fiber with a high strength of 4.0 GPa and a small diameter of 7μm.Development of applications for the new carbon fiber is focused here. The carbon fiber is used as primary fabricated products, such as resin compounds and resin prepregs, and as new composites, such as high-stiffness industrial rolls, high-capacity and high-speed press cross bars, various construction materials, rolling stock parts (body, truck and brake lining parts), and automoble propeller shafts. Railroad, automotive, aerospace, marine and shipbuilding, civil engineering and construction, energy, nuclear power, medical and other industrial applications in which the carbon fiber is expected to find increasing usage are also described.