• 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 this report, the Carbon Fiber Reinforced Plastic (Cfrp) Market has been segmented by Raw Material, Product Type, Manufacturing Process, End-User Industry and Geography.

Carbon Fiber Reinforced Plastic (Cfrp) Market, Segmentation by Raw Material,

The Carbon Fiber Reinforced Plastic (Cfrp) Market has been segmented by Raw Material, into PAN-based, and Pitch-based.

PAN-based

PAN-based carbon fibers lead the CFRP market with a share exceeding 90%. These fibers are known for their exceptional tensile strength, lightweight characteristics, and excellent fatigue resistance. They are widely utilized in industries such as aerospace, automotive, and sports equipment due to their reliable quality and cost-effective production.

Pitch-based

Pitch-based carbon fibers constitute around 10% of the market and are valued for their superior thermal conductivity and high modulus stiffness. These fibers are typically used in specialized applications including aerospace thermal management, electronics, and select premium sports equipment. Despite being more expensive, they are preferred where enhanced thermal or mechanical performance is required.

Carbon Fiber Reinforced Plastic (Cfrp) Market, Segmentation by Product Type

The Carbon Fiber Reinforced Plastic (Cfrp) Market has been segmented by Product Type into Thermosetting CFRP and Thermoplastics CFRP.

Thermosetting CFRP

Thermosetting CFRP holds the majority share, estimated at around 75% of the global market. It is favored for its outstanding mechanical properties, excellent thermal stability, and resistance to harsh chemicals. This resin type is extensively used in industries such as aerospace, automotive, and wind power, where long-term durability and structural strength are crucial. The cross-linked structure enhances its reliability under extreme operating conditions.

Thermoplastics CFRP

Accounting for roughly 25% of the market, thermoplastics CFRP is gaining popularity due to its recyclability, fast processing times, and high impact resistance. It finds growing applications in the automotive sector, consumer electronics, and various industrial parts that benefit from quicker manufacturing and design flexibility. Its ability to be remelted and reshaped without performance loss drives its adoption in sustainable manufacturing.

Carbon Fiber Reinforced Plastic (Cfrp) Market, Segmentation by Manufacturing Process

The Carbon Fiber Reinforced Plastic (Cfrp) Market has been segmented by Manufacturing Process into Layup, Pultrusion and Filament Winding, Resin Transfer, Injection and Compression Moulding, and Others.

Layup

The layup manufacturing process dominates the CFRP market with about 35% market share. This traditional method involves manually layering carbon fibers in molds and impregnating them with resin, allowing for intricate and customized shapes. Its versatility makes it a popular choice in aerospace and automotive industries where complex designs and high performance are essential.

Pultrusion and Filament Winding

Together, pultrusion and filament winding make up roughly 25% of CFRP manufacturing methods worldwide. Pultrusion efficiently creates continuous, strong fiber profiles, while filament winding excels in producing cylindrical parts like pipes and tanks. These automated processes ensure superior mechanical strength, making them ideal for structural and industrial applications.

Resin Transfer

Resin transfer molding accounts for around 20% of the CFRP manufacturing market by delivering high-quality, complex components with smooth surface finishes. By injecting resin into fiber preforms inside sealed molds, this technique minimizes waste and shortens production cycles. It is highly valued in automotive and marine sectors for manufacturing lightweight, durable parts.

Injection and Compression Moulding

Injection and compression molding combined represent about 15% of CFRP manufacturing, enabling rapid, large-scale production of detailed parts with consistent quality. These processes reduce labor costs and are widely used in automotive manufacturing, where lightweight, cost-effective components are increasingly in demand.

Others

Emerging manufacturing processes such as automated fiber placement and advanced additive manufacturing make up the remaining 5% of the market. These innovative techniques focus on precision, customization, and material efficiency, gradually expanding their presence in aerospace and defense industries seeking cutting-edge CFRP solutions.

Carbon Fiber Reinforced Plastic (Cfrp) Market, Segmentation by End-User Industry

The Carbon Fiber Reinforced Plastic (Cfrp) Market has been segmented by End-User Industry into Aerospace, Automotive, Sports and Leisure, Building and Construction and Other End-user Industries.

Aerospace

The aerospace sector leads the CFRP market, capturing nearly 40% of global demand. The increasing focus on reducing aircraft weight to improve fuel efficiency and performance is a major driver. CFRP’s superior strength-to-weight ratio and durability make it indispensable in both commercial and defense aviation applications.

Automotive

Accounting for about 30% of the market, the automotive industry is rapidly adopting CFRP to meet stringent emissions regulations and the shift towards electric vehicles. Carbon fiber composites help manufacturers reduce vehicle weight without compromising safety or performance, making them crucial for modern and luxury vehicles alike.

Sports and Leisure

Representing approximately 15% of the market, the sports and leisure segment benefits from CFRP’s combination of lightweight and high durability. It is widely used in producing equipment such as tennis rackets, bicycle frames, and golf clubs, with rising global sports participation fueling demand.

Building and Construction

The building and construction sector contributes around 10% to the CFRP market. Its use is primarily for structural reinforcement, seismic strengthening, and corrosion-resistant infrastructure solutions. Ongoing urban development and infrastructure modernization are driving steady growth in this segment.

Other End-user Industries

Other industries—including marine, electronics, and industrial manufacturing—account for roughly 5% of the market. These sectors leverage CFRP’s properties of lightweight, high strength, and corrosion resistance for specialized applications. Innovation in these areas is expected to further expand CFRP usage.

Carbon Fiber Reinforced Plastic (Cfrp) Market, Segmentation by Geography

In this report, the Carbon Fiber Reinforced Plastic (Cfrp) Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Carbon Fiber Reinforced Plastic (Cfrp) Market Share (%), by Geographical Region

North America

North America captures roughly 30% of the CFRP market, driven by a strong presence of the aerospace, automotive, and defense industries. The region’s focus on lightweight materials and environmental sustainability encourages widespread adoption of CFRP. Ongoing R&D investments and government support further bolster market growth.

Europe

Europe holds an estimated 28% share of the CFRP market, supported by its world-leading automotive and aerospace manufacturing hubs. Countries such as Germany, France, and the UK are pioneers in CFRP application, with policies promoting low-emission vehicles and energy-efficient solutions pushing demand upward.

Asia Pacific

Asia Pacific leads with about 32% of the CFRP market, fueled by fast-paced industrial growth and increasing manufacturing activity. Nations like China, India, and Japan are major contributors, leveraging CFRP across the automotive, electronics, and construction sectors. Investment in infrastructure and composite technologies is rapidly expanding in this region.

Middle East and Africa

The Middle East and Africa make up approximately 5% of the CFRP market. Demand is growing due to the development of the oil & gas, defense, and aerospace industries. Government efforts to diversify economies and invest in infrastructure and advanced materials are expected to increase regional CFRP consumption.

Latin America

Latin America accounts for around 5% of the CFRP market. Brazil and Mexico are key players, driven by rising automotive production and growing involvement in the aerospace sector. While the region shows potential, challenges such as economic volatility and limited manufacturing infrastructure may restrain rapid growth.

This report provides an in depth analysis of various factors that impact the dynamics of Carbon Fiber Reinforced Plastic (Cfrp) Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunity Analysis

Drivers

• Increasing demand in aerospace and automotive
• Superior strength-to-weight ratio of CFRP materials
• Rising need for fuel-efficient transport solutions

• Growing use in wind energy applications - The increasing reliance on wind energy is significantly boosting the carbon fiber reinforced plastic (CFRP) market. As wind turbines become larger and more sophisticated, there is a growing need for materials that combine strength, light weight, and durability. CFRP stands out due to its exceptional strength-to-weight ratio and superior fatigue resistance, making it ideal for long turbine blades that must endure extreme conditions while maximizing energy output.

  Compared to traditional materials like steel or aluminum, CFRP allows manufacturers to design lighter and more aerodynamically efficient blades. These characteristics lead to increased operational performance and reduced maintenance costs over time. The global shift toward renewable energy sources is accelerating this transition, especially in regions investing heavily in wind power infrastructure.

  Supportive government policies and sustainability goals are further catalyzing CFRP adoption in the renewable sector. With initiatives aimed at reducing carbon emissions and increasing clean energy capacity, demand for advanced composite materials is growing. This trend is expected to solidify CFRP's role as a key enabler of efficient and reliable wind energy systems.

  As the wind energy industry scales up, CFRP is positioned as a strategic material solution that enhances performance, meets regulatory expectations, and aligns with long-term sustainability targets.

Restraints

• High production and material processing costs
• Complex recycling and end-of-life challenges
• Limited availability of skilled manufacturing workforce

• Longer production cycles compared to metals - Despite its many advantages, CFRP faces significant challenges due to its longer production cycles compared to metals. The manufacturing process involves complex steps such as layering, curing, and precision molding, all of which are time-consuming and resource-intensive. This extended production timeline can delay deliveries and increase costs, making it difficult for manufacturers to meet high-volume demand efficiently.

  Unlike metals, which can be rapidly processed using conventional fabrication techniques, CFRP requires specialized infrastructure and skilled labor. The need for autoclaves, molds, and controlled environments not only adds to the capital investment but also slows down the manufacturing pipeline. This often deters large-scale adoption in industries that rely on rapid production cycles, such as automotive or electronics manufacturing.

  The lack of standardized processes for CFRP fabrication contributes to variability in production efficiency and quality, complicating integration into streamlined supply chains. Companies must invest heavily in training and process optimization to overcome these limitations.

  Unless advancements in automation and rapid curing technologies are achieved, the time and cost drawbacks associated with CFRP will continue to pose barriers to its widespread adoption across cost-sensitive sectors.

Opportunities

• Emergence of low-cost carbon fiber technologies
• Expansion in electric vehicle manufacturing
• Advancements in automated composite fabrication

• Adoption across sports and consumer electronics - The expanding use of carbon fiber reinforced plastics in sports and consumer electronics is opening new avenues for market growth. In sports equipment, CFRP is being increasingly adopted for manufacturing lightweight, high-performance gear such as bicycles, tennis rackets, and hockey sticks. These products benefit from CFRP’s ability to provide enhanced strength without adding bulk, appealing to both professionals and recreational users.

  The consumer electronics sector is embracing CFRP for premium device enclosures in smartphones, laptops, and drones. The material’s sleek finish, coupled with its resilience and thermal stability, makes it highly attractive for companies aiming to differentiate their offerings with superior design and functionality. As demand for stylish yet durable gadgets continues to rise, CFRP is becoming an integral material in product innovation.

  Manufacturers are also leveraging CFRP’s flexibility and moldability to support the growing trend toward personalization in consumer goods. Custom shapes, textures, and finishes are increasingly important for brand identity, and CFRP’s adaptability meets these evolving consumer expectations.

  With rising disposable incomes and a preference for advanced, high-performance products, the demand for CFRP in lifestyle applications is expected to accelerate. This will not only diversify the material’s market reach but also drive further investment in manufacturing technologies and design capabilities.

Key players in Carbon Fiber Reinforced Plastic (Cfrp) Market include;

• Solvay
• Hexcel Corp
• Formosa Plastics Corporation
• Mitsubishi Rayon Co. Ltd
• Nippon Graphite Fiber Corp.
• SABIC (Saudi Basic Industries Corporation)
• Teijin Limited
• Toray Industries Inc.
• Allred & Associates Inc.
• Rochling Group
• Nikkiso Co. Ltd.

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Market Share Analysis
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis