Yes it is a fabric. The woven carbon fiber fabric is impregnated with epoxy then alternating layers are added. Then either it's vacuum bagged or pressed to remove the excess epoxy. The carbon fibers are strong but flexible, the epoxy is stiff but brittle, combine them and you get a cool composite that has the good properties. You can also mix in other fabrics like Kevlar and even some metals. Also depending on the weave style and how they alternate you can alter the properties.