The Business Research Company’s report on the Carbon Fiber Reinforced Plastic (CFRP) Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the carbon fiber reinforced plastic (cfrp) market further?
The rise in demand for lightweight vehicles is expected to boost the growth of the carbon fiber-reinforced plastic market going forward. Lightweighting is a concept in the automobile industry that refers to designing lighter automobiles, to achieve better fuel efficiency and handling. Automakers manufacture parts from carbon fiber, windshields from plastic, and bumpers out of aluminum foam, as ways to lessen vehicle load. Carbon fiber reinforced plastic (CPRF) has extremely low shrinkage and expansion against heat which is a strong benefit for automobile bodies. CFRP is used in manufacturing expensive sports cars, bicycles, and motorbikes. For instance according to the International Energy Agency (IEA) is a France-based autonomous intergovernmental organisation, electric light-duty vehicles sales reached 26 million in 2022, up 60% from 2021, with BEVs driving most of the growth. Therefore, the rise in demand for lightweight vehicles is driving the growth of the carbon fiber-reinforced plastic market.
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What are the key factors influencing the forecasted market size of the carbon fiber reinforced plastic (cfrp) industry?
The carbon fiber reinforced plastic (CFRP) market size has grown rapidly in recent years. It will grow from $13.66 billion in 2024 to $15.07 billion in 2025 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to aerospace industry growth, expansion of sporting goods industry, demand for high-performance materials, increased focus on fuel efficiency, globalization of automotive production, demand for corrosion-resistant materials, focus on sustainable materials.
The carbon fiber reinforced plastic (CFRP) market size is expected to see rapid growth in the next few years. It will grow to $22.57 billion in 2029 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to growing consumer electronics market, rise of electric vehicles, advancements in CFRP manufacturing, growth in wind energy sector, advancements in resin systems, consumer electronics miniaturization. Major trends in the forecast period include automotive lightweighting trends, advancements in manufacturing technologies, medical device innovations, innovations in automotive design, expanding use in robotics, strategic collaborations and partnerships.
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Who are the leading competitors in the carbon fiber reinforced plastic (cfrp) market?
Major companies operating in the carbon fiber reinforced plastic (CFRP) market are 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., Rochling Group, Jiangsu Hengshen Fiber Material Co. Ltd., Zhongfu Shenying Carbon Fiber Co. Ltd., Nippon Graphite Fiber Co. Ltd., Saudi Basic Industries Corporation, Gurit Holding AG, Park Aerospace Corp., Axiom Materials Inc., Plasan Carbon Composites, Zoltek Companies Inc., Hyosung Advanced Materials Corporation, Owens Corning, Huntsman Corporation, Cytec Solvay Group, Kureha Corporation, Carbon Mods, Carbon Revolution, Carbon Conversions Inc., Carbon Fiber Works, Composite Engineering Inc.
Which emerging trends are set to transform the carbon fiber reinforced plastic (cfrp) market landscape?
Major companies operating in the Carbon Fiber Reinforced Plastic Market are focusing on developing innovative solutions, such as carbon fiber reinforced PVDF, to enhance material performance in industries like aerospace, automotive, and construction. Carbon fiber-reinforced PVDF refers to a composite material where carbon fibers are embedded within a polyvinylidene fluoride (PVDF) matrix. For instance, in May 2024, Xenia Materials, an Italy-based additive manufacturing company, launched a new line of carbon fiber-reinforced polyvinylidene fluoride (PVDF) compounds for pellet-fed 3D printing, enhancing the performance and chemical resistance of additive manufacturing materials. These innovative compounds combine unfilled PVDF with carbon fiber, resulting in improved strength, reduced warping, and compliance with ATEX standards for safety in hazardous environments.
How do different geographies compare in terms of market share and growth potential in the carbon fiber reinforced plastic (cfrp) market?
North America was the largest region in the carbon fiber reinforced plastic market share in 2024. The regions covered in the carbon fiber reinforced plastic (CFRP) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the carbon fiber reinforced plastic (cfrp) market are experiencing the fastest growth?
The carbon fiber reinforced plastic (CFRP) market covered in this report is segmented –
1) By Type: Polyacrylonitrile, Petroleum Pitch, Other Types
2) By Resin: Thermosetting, Thermoplastic
3) By End-User: Aerospace, Automotive, Sports And Leisure, Building And Construction, Wind Power Industry, Other End-Users
Subsegments:
1) By Polyacrylonitrile (PAN): Standard PAN-Based CFRP, High-Strength PAN-Based CFRP
2) By Petroleum Pitch: Pitch-Based CFRP, Specialty Pitch-Based CFRP
3) By Other Types: Rayon-Based CFRP, Biobased Carbon Fiber Reinforcements
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How is the carbon fiber reinforced plastic (cfrp) market defined?
Carbon fiber reinforced plastic (CFRP) is a type of durable and strong carbon plastic reinforced with high-strength unidirectional fibers. It is composed of linked-chain carbon atoms in a matrix structure of polymer resin. It is a lightweight, strong, stiff material and is used wherever a high strength-to-weight ratio and stiffness (rigidity) are required.
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