Global Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2032
Chemical and Materials | Upcoming Report | May 2025 | Global | 350 Pages | No of Tables: 60 | No of Figures: 220
The global Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) market size was valued at USD 2.34 billion in 2024 and is expected to reach USD 5.43 billion by 2032,at a CAGR of 11.10% during the forecast period
This growth is driven by factors such as the increasing demand across aerospace, automotive, and renewable energy sectors
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
North America is expected to dominate the carbon fibers (CF) and carbon fiber reinforced plastics (CFRP)s market with 40.5% due to automotive industry, especially in electric vehicles, increasingly incorporates CFRP to reduce weight and improve energy efficiency
Asia-Pacific is expected to be the fastest growing region in the carbon fibers (CF) and carbon fiber reinforced plastics (CFRP) market during the forecast period due to demand for lightweight and high-performance vehicles
Thermosetting CRPF segment is expected to dominate the market with a market share of 74.2% due to its research and development activities, companies are developing various manufacturing techniques
Report Scope and Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) Market Segmentation
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 import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
“Rising Adoption in Aerospace and Automotive Industries”
The most significant trend in the global Carbon Fiber (CF) and Carbon Fiber Reinforced Plastics (CFRP) market is their rising adoption in aerospace and automotive industries due to the increasing need for lightweight and fuel-efficient materials
In aerospace, CFRP is crucial for reducing aircraft weight and improving fuel economy. Boeing 787 Dreamliner and Airbus A350 XWB incorporate more than 50% CFRP in their airframes, directly contributing to fuel savings and lower emissions as per Mordor Intelligence and Boeing data
In automotive, leading manufacturers such as BMW, Audi, and Lamborghini are integrating CFRP in vehicle chassis and components to reduce weight and enhance performance. BMW’s i-series electric vehicles utilize CFRP for structural integrity and range efficiency
The global push for sustainability is also fueling this trend. Lightweight materials lead to energy savings, helping industries comply with environmental goals and carbon emission targets under Paris Agreement commitments
“Stringent Emission Regulations and Environmental Mandates”
One of the most powerful drivers of the global CF and CFRP market is the growing enforcement of environmental regulations aimed at reducing vehicle emissions and increasing fuel efficiency across industries
In the automotive sector, global regulatory bodies such as the U.S. Environmental Protection Agency (EPA) and the European Commission have mandated lower CO₂ emissions, which is pushing manufacturers to adopt lightweight materials such as CFRP to reduce vehicle mass and improve mileage
For instance, Tesla uses CFRP in select structural and cosmetic parts to optimize weight and range, while BMW integrated CFRP into the i3 and i8 models to meet EU fuel economy norms, resulting in up to 250 kg weight savings per vehicle
In aerospace, CFRP plays a critical role in meeting International Civil Aviation Organization (ICAO) emission standards. By reducing aircraft weight, CFRP helps reduce fuel consumption and associated CO₂ emissions — a key reason Airbus and Boeing use CFRP in over 50% of their new-generation aircraft
The increased demand for carbon-neutral transportation and renewable energy infrastructure is expected to further accelerate the use of CFRP materials globally across construction, wind energy, and sporting goods
Opportunity
“Renewable Energy Expansion and Recyclability Innovations”
A key opportunity for the CFRP market lies in its expanding application in renewable energy, especially in wind turbines and electric vehicle infrastructure
Wind turbine blades benefit from CFRP’s high strength-to-weight ratio, improving performance and durability. Companies such as Vestas and Siemens Gamesa are increasingly using CFRP to build longer, more efficient turbine blades to harness more energy from wind
The growing shift toward electrification and sustainable mobility also creates opportunities in battery enclosures and structural parts of electric vehicles, as evidenced by Rivian and Lucid Motors using CFRP in luxury EV designs
Innovations in CFRP recyclability are opening doors for more circular and sustainable applications. Startups such as Carbon Conversions and ELG Carbon Fibre are developing commercial-scale recycling processes, making CFRP more environmentally viable for mass deployment
According to GlobeNewswire, CFRP’s share in renewable energy and green transport is expected to expand by 15–20% over the next five years, particularly in Asia-Pacific markets due to government initiatives for clean energy adoption
Restraint/Challenge
“High Cost and Limited Scalability”
One of the primary restraints facing the CFRP market is the high cost of raw materials and manufacturing, making it significantly more expensive than conventional materials such as steel and aluminum
The production of CFRP involves energy-intensive processes such as carbonization and resin infusion, resulting in higher operational costs. As per McKinsey & Company, CFRP can cost up to 10 times more than standard structural metals
This high cost limits its adoption in cost-sensitive sectors such as mass-market automotive manufacturing and general construction. Most CFRP use cases are currently restricted to premium products, aerospace, and motorsports
Limited production scalability is another challenge, with few suppliers able to meet large-scale demand without compromising quality. For instance, supply chain bottlenecks were reported by automakers such as GM and Toyota when sourcing CFRP for EV prototypes in 2022
Additionally, CFRP recycling remains complex and expensive. Despite progress, most post-consumer CFRP still ends up in landfills due to the lack of commercial-scale recycling infrastructure, posing environmental and regulatory concerns for the future
The market is segmented on the basis of source, carbon fiber materials, resin type, manufacturing process, application, and end-use.
Segmentation
Sub-Segmentation
By Source
Virgin CF
Recycled CF
By Carbon Fiber Materials
Polyacrylonitrile Carbon Fibers
Pitch-Based Carbon Fiber
Rayon-Based Carbon Fiber
Others
By Resin Type
Thermosetting CFRP
Thermoplastic CFRP
By Manufacturing Process
Lay-Up
Resin Transfer Molding
Compression Molding
Injection Molding
Filament Winding
Pultrusion
By Application
Floor beams
Ailerons
Vertical stabilizers
Elevators
Wings
Engine Nacelles
Wind Turbines
By End-use
Aerospace and Defence
Automotive
Wind Energy
Sporting Goods
Medical
Electronics
Marine
In 2025, the thermosetting CFRP is projected to dominate the market with a largest share in resin type segment
The thermosetting CFRP segment is expected to dominate the Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) market with the largest share of 74.2% in 2025due to its research and development activities, companies are developing various manufacturing techniques that can produce thermoplastic CFRP with properties similar to or superior to thermosetting CFRP, which is anticipated to drive the thermoplastic segment over the forecast period.
The Aerospace and Defence is expected to account for the largest share during the forecast period in end use market
In 2025, the Aerospace and Defence segment is expected to dominate the market with the largest market share of 60.9% due to increasing demand for lightweight and fuel-efficient aircraft. Technological developments in carbon-fiber-reinforced plastic can help reduce the high cost of aerospace-grade CFRP as compared to other grades in the market.
“North America Holds the Largest Share in the Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) Market”
North America holds the largest share of the global CF & CFRP market, accounting for approximately 40.5%
The U.S., with major players such as Boeing and Lockheed Martin, drives significant demand for CFRP in aircraft manufacturing, enhancing fuel efficiency and performance
The region's automotive industry, especially in electric vehicles, increasingly incorporates CFRP to reduce weight and improve energy efficiency
Growing investments in wind energy projects further boost CFRP demand for turbine blades and related components
Robust research and development initiatives contribute to technological innovations, solidifying North America's market dominance
“Asia-Pacific is Projected to Register the Highest CAGR in the Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) Market”
Asia-Pacific is experiencing the highest growth in the CF & CFRP market
Countries such as China, Japan, and India are increasing CFRP usage in automotive manufacturing, driven by demand for lightweight and high-performance vehicles
Japan's aerospace sector, including companies such as Mitsubishi Heavy Industries, is adopting CFRP for aircraft components
China leads in wind energy installations, creating substantial demand for CFRP in turbine blade production
Ongoing infrastructure developments across the region further drive the need for durable and lightweight materials such as CFRP
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.
The Major Market Leaders Operating in the Market Are:
Latest Developments in Global Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) Market
In April 2023, Solvay and GKN Aerospace signed an extension to their 2017 collaboration agreement. Under the agreement, both businesses are developing a joint thermoplastic composites (TPC) roadmap to explore new materials and manufacturing processes for aerospace structures while jointly targeting future strategic high-rate programs. Solvay is expected to remain a GKN Aerospace preferred supplier for TPC materials
In November 2022, Hyosung Advanced Materials acquired ISCC (International Sustainability & Carbon Certification) PLUS. This acquisition is expected to boost the operational capabilities of Hyosung Advanced Materials
In September 2022, Solvay launched a carbon fiber epoxy prepreg tooling material, ‘LTM 350’, with the aim to provide carbon fiber reinforced cost reductions for segments including industrial, automotive, aerospace, and race cars
In July 2022, Hexcel announced that it has signed a long-term agreement with Dassault to supply carbon fiber prepreg for the Falcon 10X program. This is the first Dassault business jet program to incorporate high-performance advanced carbon fiber composites in the manufacture of its aircraft wings
In February 2022, Teijin Limited announced that it has agreed to form a business alliance with Fuji Design Co., Ltd., a Japanese manufacturer of recycled carbon fibers to establish a business structure for the production, supply, and commercialization of carbon fiber-reinforced plastic (CFRP) products made from recycled carbon fibers using a low environmental impact process
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Global Cf Cfrp Market, Supply Chain Analysis and Ecosystem Framework
To support market growth and help clients navigate the impact of geopolitical shifts, DBMR has integrated in-depth supply chain analysis into its Global Cf Cfrp Market research reports. This addition empowers clients to respond effectively to global changes affecting their industries. The supply chain analysis section includes detailed insights such as Global Cf Cfrp Market consumption and production by country, price trend analysis, the impact of tariffs and geopolitical developments, and import and export trends by country and HSN code. It also highlights major suppliers with data on production capacity and company profiles, as well as key importers and exporters. In addition to research, DBMR offers specialized supply chain consulting services backed by over a decade of experience, providing solutions like supplier discovery, supplier risk assessment, price trend analysis, impact evaluation of inflation and trade route changes, and comprehensive market trend analysis.
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