Global Cf Cfrp Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2024 –2031 |
 Market Size (Base Year) |
USD 2.10 Billion |
 Market Size (Forecast Year) |
USD 5.09 Billion |
 CAGR |
% |
| Major Markets Players |
Global Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) Market, By Source (Virgin CF, and Recycled CF), Carbon Fiber Materials (Polyacrylonitrile Carbon Fibers, Pitch-Based Carbon Fiber, Rayon-Based Carbon Fiber, and Others), Resin Type (Thermosetting CFRP, and Thermoplastic CFRP), Manufacturing Process (Lay-Up, Resin Transfer Molding, Compression Molding, Injection Molding, Filament Winding, and Pultrusion), Application (Floor beams, Ailerons, Vertical stabilizers, Elevators, Wings, Engine nacelles, and Wind Turbines), End-use (Aerospace and Defence, Automotive, Wind Energy, Sporting Goods, Medical, Electronics, and Marine) - Industry Trends and Forecast to 2031.
Carbon Fibers (CF) And Carbon Fiber Reinforced Plastics (CFRP) Market Analysis and Size
The carbon fibers (CF) and carbon fiber reinforced plastics (CFRP) market is experiencing exponential growth, fueled by the latest technological advancements. With increased demand across aerospace, automotive, and sports industries, innovations such as automated manufacturing processes and enhanced resin systems are driving efficiency and performance. This surge in adoption underscores the pivotal role of CF and CFRP in shaping future lightweight, high-strength applications.
The global carbon fibers (CF) and carbon fiber reinforced plastics (CFRP) market size was valued at USD 2.10 billion in 2023, is projected to reach USD 5.09 billion by 2031, with a CAGR of 11.70% during the forecast period 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2024 to 2031 |
|
Base Year |
2023 |
|
Historic Years |
2022 (Customizable to 2016-2021) |
|
Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
|
Segments Covered |
Source (Virgin CF, and Recycled CF), Carbon Fiber Materials (Polyacrylonitrile Carbon Fibers, Pitch-Based Carbon Fiber, Rayon-Based Carbon Fiber, and Others), Resin Type (Thermosetting CFRP, and Thermoplastic CFRP), Manufacturing Process (Lay-Up, Resin Transfer Molding, Compression Molding, Injection Molding, Filament Winding, and Pultrusion), Application (Floor beams, Ailerons, Vertical stabilizers, Elevators, Wings, Engine nacelles, and Wind Turbines), End-use (Aerospace and Defence, Automotive, Wind Energy, Sporting Goods, Medical, Electronics, and Marine) |
|
Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. |
|
Market Players Covered |
Solvay (Belgium), Hexcel Corporation (U.S.), Gurit Services AG (Switzerland), TORAY INDUSTRIES, INC. (Japan), TEIJIN LIMITED (Japan), SGL Carbon (Germany), Mitsubishi Chemical Group Corporation. (Japan), Formosa Plastics Corporation (Taiwan), HYOSUNG CHEMICAL. (South Korea), Aeron Composite Pvt. Ltd (India), Sigmatex (U.K.), Nippon Graphite Fiber Co., Ltd. (Japan), Crosby Composites (U.K.), and DowAksa ( Turkey) |
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Market Opportunities |
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Market Definition
Carbon fibers (CF) are thin, strong strands primarily composed of carbon atoms. They possess exceptional strength-to-weight ratio and high stiffness, making them ideal for various applications. Carbon fiber reinforced plastics (CFRP) combine these fibers with a polymer matrix, enhancing structural integrity and reducing weight in aerospace, automotive, and sporting goods industries. CFRP offers superior performance, durability, and versatility in diverse engineering fields.
Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) Market Dynamics
Drivers
- Increasing Demand for Light Weight Materials
The demand for lightweight materials in industries such as aerospace, automotive, and sports equipment is on the rise to improve fuel efficiency and performance. Carbon fibers (CF) and carbon fiber reinforced plastics (CFRP) are preferred due to their high strength-to-weight ratios. For instance, in automotive, CFRP components including body panels and chassis parts reduce overall vehicle weight, enhancing fuel efficiency and agility, thereby driving the market for CF and CFRP.
- Rising Demand in Sporting Goods
The sporting goods industry is witnessing a surge in demand for carbon fibers (CF) and carbon fiber reinforced plastics (CFRP) as athletes and consumers prioritize lighter and stronger equipment. From bicycles to tennis rackets and golf clubs, these materials offer superior performance. For instance, high-end tennis racket manufacturers utilize CFRP to enhance racket stiffness, enabling players to generate more power and control. This rising consumer preference for advanced sporting equipment is driving growth in the CF and CFRP market.
Opportunities
- Advancements in Manufacturing Technologies
Advancements in manufacturing technologies, such as automated layup and resin infusion methods, are revolutionizing the production of CF and CFRP, lowering costs and enhancing scalability. This opens doors for broader industry adoption. For instance, the automotive sector can now efficiently integrate carbon fiber components into mass-produced vehicles, improving fuel efficiency and performance without exorbitant costs. Similarly, the construction industry can leverage these innovations to incorporate lightweight, durable CFRP structures in infrastructure projects, ensuring longevity and sustainability.
- Expanding Wind Energy Sector
The expanding wind energy sector presents a significant opportunity for the carbon fiber (CF) and carbon fiber reinforced plastics (CFRP) market. With increasing global demand for renewable energy, the need for lightweight, durable materials in wind turbine blades grows. This creates substantial opportunities for CF and CFRP manufacturers to cater to the growing wind energy industry, driving growth and innovation in composite materials while supporting the sustainable energy transition.
Restraints/Challenges
- Limited Raw Material Availability
Limited availability of raw materials such as polyacrylonitrile (PAN) or petroleum-based precursors poses a significant challenge for the carbon fibers (CF) and carbon fiber reinforced plastics (CFRP) market. Dependence on petroleum products makes the industry vulnerable to supply chain constraints and price fluctuations, hindering market stability and growth.
- High Production Costs
High production costs of carbon fibers hinder the CFRP market. Energy-intensive processes and specialized equipment contribute to the expense, raising overall CFRP product costs. This financial barrier limits market growth and adoption across industries, impeding the widespread use of CFRP materials despite their advantageous properties.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In September 2022, Solvay introduced 'LTM 350', a carbon fiber epoxy prepreg tooling material, aiming to slash costs for industrial, automotive, aerospace, and race car sectors with reinforced carbon fiber
- In June 2022, Mitsubishi Chemical Corporation acquired c-m-p GmbH, enhancing its position in the carbon fiber composite market, offering innovative solutions leveraging group expertise
- In May 2021, Braskem S.A. partnered with Vartega Inc. to launch CF-PP filament for 3D printing, promoting a recycling program for lightweight, robust parts in aerospace, automotive, and sports equipment
- In December 2020, Mitsubishi Chemicals Corp. inaugurated the CFRTP Pilot Facility in Fukui Prefecture, facilitating highly efficient CFRTP production with minimal void content
- In May 2020, Toray Industries, Inc. developed high tensile modulus carbon fiber and thermoplastic pellets for injection molding, promising rapid, environmentally friendly production of intricate, lightweight parts, potentially enhancing cost performance
Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) Market Scope
The market is segmented on the basis of source, carbon fiber materials, resin type, manufacturing process, application, and end-use. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Source
- Virgin CF
- Recycled CF
Carbon Fiber Materials
- Polyacrylonitrile Carbon Fibers
- Pitch-Based Carbon Fiber
- Rayon-Based Carbon Fiber
- Others
Resin Type
- Thermosetting CFRP
- Thermoplastic CFRP
Manufacturing Process
- Lay-Up
- Resin Transfer Molding
- Compression Molding
- Injection Molding
- Filament Winding
- Pultrusion
Application
- Floor beams
- Ailerons
- Vertical stabilizers
- Elevators
- Wings
- Engine Nacelles
- Wind Turbines
End-use
- Aerospace and Defence
- Automotive
- Wind Energy
- Sporting Goods
- Medical
- Electronics
- Marine
Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) Market Regional Analysis/Insights
The market is analysed and market size insights and trends are provided by source, carbon fiber materials, resin type, manufacturing process, application, and end-use as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to dominate the carbon fibers (CF) and carbon fiber reinforced plastics (CFRP) market is anticipated, fueled by increased foreign direct investment driving economic growth. Moreover, advancements in the aerospace and defense sector will amplify market expansion in the region throughout the forecast period.
Europe is expected for substantial growth in the carbon fibers (CF) and carbon fiber reinforced plastics (CFRP) market, driven by demand surges in aerospace, defense, wind energy, and automotive sectors. The region's concentration of major industry players will further accelerate market expansion in the foreseeable future.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- Solvay (Belgium)
- Hexcel Corporation (U.S.)
- Gurit Services AG (Switzerland)
- TORAY INDUSTRIES, INC. (Japan)
- TEIJIN LIMITED (Japan)
- SGL Carbon (Germany)
- Mitsubishi Chemical Group Corporation (Japan)
- Formosa Plastics Corporation (Taiwan)
- HYOSUNG CHEMICAL. (South Korea)
- Aeron Composite Pvt. Ltd (India)
- Sigmatex (U.K.)
- Nippon Graphite Fiber Co., Ltd. (Japan)
- Crosby Composites (U.K.)
- DowAksa ( Turkey)
SKU-
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
