What Has Been The Historic And Future Market Size Performance For Global Carbon Fiber Reinforced Plastic (CFRP) Market?
The Carbon Fiber Reinforced Plastic (CFRP) market has seen significant growth in the recent past with a market size increasing from $13.66 billion in 2024 to $15.07 billion in 2025, boasting a compound annual growth rate (CAGR) of 10.3%. Factors such as the surge in the aerospace industry, progressive sporting goods industry, escalating demand for high-performance materials, a growing focus on fuel efficiency, and the globalization of automotive production have contributed majorly to this growth trend.
Continuing the growth trajectory, the CFRP market is predicted to witness rapid growth in the upcoming years and is expected to inflate to $22.57 billion in 2029 at a compound annual growth rate (CAGR) of 10.6%. This growth rate can be ascribed to the burgeoning consumer electronics market, the rise of electric vehicles, advancements in CFRP manufacturing, growth in the wind energy sector, and advancements in resin systems, among other factors.
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What Are The Drivers Boosting Carbon Fiber Reinforced Plastic (CFRP) Market Growth?
The substantial upswing in demand for lightweight vehicles is one significant factor expected to spur growth in the CFRP market. Lightweighting has emerged as a key concept in the automotive industry, promoting the development of lighter vehicles, thereby optimizing fuel efficiency and enhancing overall vehicle maneuverability. A key strategy implemented by automakers is the use of high-strength and low-shrinkage materials like CFRP in vehicles to reduce weight. Evidently stated, the rising global sales of electric light-duty vehicles, which peaked at 26 million in 2022, underline the promising growth potential for the CFRP market moving forward.
What Are The Top Market Segments Within the Global Carbon Fiber Reinforced Plastic (CFRP) Market?
– By Type: Polyacrylonitrile, Petroleum Pitch, Other Types
– By Resin: Thermosetting, Thermoplastic
– By End-User: Aerospace, Automotive, Sports And Leisure, Building And Construction, Wind Power Industry, Other End-Users
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Which Are The Major Players Operating In The Global Carbon Fiber Reinforced Plastic (CFRP) Market?
Companies playing a significant role in the CFRP market include Solvay S.A, DowAksa Advanced Composites Holding B.V, Formosa Plastics Corporation, Hexcel Corporation, Mitsubishi Rayon Co. Ltd., SGL Carbon SE, Teijin Limited, Toray Industries Inc., Nikkiso Co. Ltd., AllRed & Associates Inc., and others.
What Are The Emerging Trends In The Global Carbon Fiber Reinforced Plastic (CFRP) Market?
CFRP market players are consistently striving to innovate in their product offering. A case in point is the emerging trend of developing carbon fiber reinforced PVDF (Polyvinylidene Fluoride) to enhance material performance in industries like aerospace, automotive, and construction.
Which Region Saw The Highest Market Share In The Carbon Fiber Reinforced Plastic (CFRP) Market?
In 2024, North America emerged as the region with the highest market share in the CFRP market.
What Does The Carbon Fiber Reinforced Plastic (CFRP) Market Report 2025 Offer?
The Carbon Fiber Reinforced Plastic (CFRP) Market research report offers a comprehensive analysis of global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Carbon fiber reinforced plastic (CFRP) is a resiliently robust carbon composite, reinforced with high-strength unidirectional fibers are imbedded in a matrix structure of polymer resin. CFRP exhibits high weight-to-strength ratio making it a preferred material in industries requiring high-strength, lightweight materials.
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