Carbon Fiber reinforced Plastic - CFRP Market Report 2025 (Global Edition)

Global Carbon Fiber reinforced Plastic - CFRP Market Report 2024 Market Size Split by Precursor Type (PAN, Pitch, Rayon), by Source (Virgin CF, Recycled CF), by Resin Type (Thermosetting CFRP, Thermop...

Carbon Fiber reinforced Plastic - CFRP Market Report Description

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Carbon Fiber reinforced Plastic - CFRP Market Insights Video

Competitive Landscape of the Carbon Fiber Reinforced Plastic - CFRP Market

The CFRP market is highly competitive, featuring key players leading with advanced manufacturing technologies and extensive R&D capabilities. Competition is driven by innovations in material properties, cost reduction strategies, and expanding applications across aerospace, automotive, and sports industries. Emerging players and regional manufacturers are also contributing to market dynamics through technological advancements and localized production.

In June 2022, Mitsubishi Chemical Corporation (MCC) acquired c-m-p GmbH through its subsidiary. With this acquisition, MCC is better positioned to serve the carbon fiber composite material market and provide customers with creative solutions that take advantage of the group's overall expertise. (Source: https://www.mcgc.com/english/news_mcc/2020/1208173_7667.html) In May 2020, Toray Industries, Inc. introduced a high tensile modulus carbon fiber and the thermoplastic pellets that are optimal for use in injection molding. The pellets are expected to make it possible to produce intricate, stiff, and light parts quickly and effectively, thereby reducing the impact on the environment. These developments might significantly improve cost performance. (Source: https://www.toray.com/global/news/details/20200521000569.html) In May 2021, Braskem S.A. entered into a partnership with Vartega Inc. to launch a new, Innovative Carbon Fiber Reinforced Polypropylene Filament for 3D Printing ("CF-PP") ("FL900PP-CF") for a New 3D Printing Filament Recycling Program. With this material, users may 3D print lightweight & robust parts for applications such as aircraft, automotive, sports equipment, nautical, and more. (Source: https://www.pottsmerc.com/2021/05/19/braskem-and-vartega-launch-new-carbon-fiber-recycling-program-for-3d-filament-2/)

Top Companies Market Share in Carbon Fiber reinforced Plastic - CFRP Industry: (In no particular order of Rank)

• DowAksa
• Cytec Solvay Group
• Toray Industries
• Inc.
• SGL Group
• Hexcel Corporation
• Teijin Limited
• Mitsubishi Rayon Co.
• Ltd.
• Hyosung Corporation
• Gurit Holding AG
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Carbon Fiber Reinforced Plastic - CFRP Market

Which Region Dominates the Carbon Fiber Reinforced Plastic - CFRP Market in 2024?

According to Cognitive Market Research, North America currently dominates the Carbon Fiber reinforced Plastic - CFRPs market, and the region is expected to have significant growth during the projected years due to advanced aerospace and automotive industries, significant R&D investments, and strong demand for high-performance materials. Major players and technological innovations in the US and Canada drive growth, supported by substantial government funding and robust infrastructure supporting CFRP applications.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR) due to rapid industrialization, expanding aerospace and automotive sectors, and increasing demand for lightweight, high-performance materials. The region’s robust manufacturing base, investment in advanced technologies, and supportive government policies further drive market growth.

The current report Scope analyzes Carbon Fiber reinforced Plastic - CFRP Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Carbon Fiber reinforced Plastic - CFRP Market

As per the current market study, out of xxxx Million USD global market revenue 2025, North America market holds xx% of the market share. The North America Carbon Fiber reinforced Plastic - CFRP industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR. If we look at the percentage market shares of top North America countries for 2025,Mexico (xx%), Canada (xx%), United States (xx%)

According to Cognitive Market Research, the global Carbon Fiber reinforced Plastic - CFRP market size was estimated at USD 24154.2 Million, out of which North America held the major market share of more than 40% of global revenue with the market size of USD 9661.68 million in 2024 and will rise at a compound annual growth rate (CAGR) of 6.2% from the year to 2031.

• According to Cognitive Market Research, the US had a major share in the Carbon Fiber reinforced Plastic - CFRP market with a market size of USD 7623.07 million in 2024 and is projected to rise at the CAGR of 6.0% during the forecast years due to the advancements in aerospace and automotive sectors, emphasizing fuel efficiency and high-performance materials.
• The Canada Carbon Fiber reinforced Plastic - CFRP market had a market share of USD 1159.40 million in 2024 and is foreseen to rise at the CAGR of 7.0% during the forecast years due to the strong demand in the aerospace and automotive sectors.
• The Mexico Carbon Fiber Reinforced Plastic - CFRP market is foreseen to experience growth at the CAGR of 6.7% during the forecast years, with a market size of USD 879.21 million in 2024.

Europe Carbon Fiber reinforced Plastic - CFRP Market

As per the current market study, out of xxxx Million USD global market revenue 2025, Europe market holds xx% of the market share. The Europe Carbon Fiber reinforced Plastic - CFRP industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR. If we look at the percentage market shares of top Europe countries for 2025,Germany (xx%), France (xx%), Spain (xx%), United Kingdom (xx%), Russia (xx%), Italy (xx%), Rest of Europe (xx%)

According to Cognitive Market Research, the global Carbon Fiber reinforced Plastic - CFRP market size was estimated at USD 24154.2 Million, out of which Europe held the market share of more than 30% of the global revenue with the market size of USD 7246.26 million in 2024 and will rise at the compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

• The United Kingdom Carbon Fiber reinforced Plastic - CFRP market had a market share of USD 1217.37 million in 2024 and is foreseen to rise at the CAGR of 7.3% during the forecast years. In the UK, Carbon Fiber reinforced Plastic - CFRP sales witnessed an upswing due to the advancements in manufacturing technology and sustainability initiatives.
• The French carbon Fiber Reinforced Plastic - CFRP market is foreseen to experience growth at a CAGR of 5.7% during the forecast years, with a market size of USD 666.66 million in 2024.
• According to Cognitive Market Research, the German Carbon Fiber reinforced Plastic - CFRP market size was valued at USD 1434.76 million in 2024 and is foreseen to grow at the CAGR of 6.7% during the forecast years. In Germany, Carbon Fiber reinforced Plastic - CFRP surged due to the strong aerospace and automotive industries focused on lightweight, high-performance materials.
• The Italy Carbon Fiber Reinforced Plastic - CFRP market is foreseen to experience growth at the CAGR of 5.9% during the forecast years, with a market size of USD 623.18 million in 2024.
• The Russia Carbon Fiber Reinforced Plastic - CFRP market is foreseen to experience growth at a CAGR of 5.5% during the forecast period, with a market size of USD 1123.17 million in 2024.
• The Spain Carbon Fiber reinforced Plastic - CFRP market is foreseen to experience growth at a CAGR of 5.6% during the forecast period with a market size of USD 594.19 million in 2024
• The Luxembourg Carbon Fiber reinforced Plastic - CFRP market is foreseen to experience growth at a CAGR of 6.6% during the forecast years, with a market size of USD 224.63 million in 2024.
• The Portugal Carbon Fiber Reinforced Plastic - CFRP market is foreseen to experience growth at a CAGR of 6.3% during the forecast years, with a market size of USD 152.17 million in 2024.
• The Greece Carbon Fiber Reinforced Plastic - CFRP market is foreseen to experience growth at a CAGR of 6.8% during the forecast years, with a market size of USD 86.96 million in 2024.
• The Rest of Europe's Carbon Fiber reinforced Plastic - CFRP market is foreseen to experience growth at the CAGR of 5.2% during the forecast years, with a market size of USD 1123.17 million in 2024.

Asia Pacific Carbon Fiber reinforced Plastic - CFRP Market

As per the current market study, out of xxxx Million USD global market revenue 2025, Asia Pacific market holds xx% of the market share. The Asia Pacific Carbon Fiber reinforced Plastic - CFRP industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR. If we look at the percentage market shares of top Asia Pacific countries for 2025,India (xx%), Korea (xx%), Japan (xx%), China (xx%), Australia (xx%), Rest of APAC (xx%)

According to Cognitive Market Research, the global Carbon Fiber reinforced Plastic - CFRP market size was estimated at USD 24154.2 Million, out of which Asia Pacific held the market share of around 23% of global revenue with the market size of USD 5555.47 million in 2024 and will rise at the compound annual growth rate (CAGR) of 10.0% from the year 2024 to 2031.

• According to Cognitive Market Research, the China Carbon Fiber Reinforced Plastic - CFRP market size was valued at USD 2499.96 million in 2024 and is foreseen to rise at a CAGR of 9.5% during the forecast years. Carbon fiber-reinforced plastic - CFRP surged in China due to rapid industrialization increasing automotive and aerospace production.
• The Japan Carbon Fiber Reinforced Plastic - CFRP market is foreseen to experience growth at a CAGR of 8.5% during the forecast period, with a market size of USD 766.65 million in 2024.
• The India Carbon Fiber reinforced Plastic - CFRP market had a market share of USD 666.66 million in 2024 and is foreseen to rise at a CAGR of 11.8% during the forecast years due to the surging demand for lightweight, high-strength materials in aerospace, automotive, and sports industries .
• The South Korean Carbon Fiber reinforced Plastic - CFRP market is foreseen to experience growth at a CAGR of 9.1% during the forecast years, with a market size of USD 555.55 million in 2024.
• The Australian Carbon Fiber reinforced Plastic - CFRP market is foreseen to experience growth at the CAGR of 9.7% during the forecast years, with a market size of USD 288.88 million in 2024.
• The South East Asia Carbon Fiber Reinforced Plastic - CFRP market is projected to witness growth at a CAGR of 11.0% during the forecast period, with a market size of USD 383.33 million in 2024.
• The Rest of the Asia Pacific carbon fiber reinforced plastic - CFRP market is foreseen to witness growth at a CAGR of 9.8% during the forecast years, with a market size of USD 394.44 million in 2024.

South America Carbon Fiber reinforced Plastic - CFRP Market

As per the current market study, out of xxxx Million USD global market revenue 2025, South America market holds xx% of the market share. The South America Carbon Fiber reinforced Plastic - CFRP industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR. If we look at the percentage market shares of top South America countries for 2025,Brazil (xx%), Chile (xx%), Peru (xx%), Colombia (xx%), Argentina (xx%), Rest of South America (xx%)

According to Cognitive Market Research, the global Carbon Fiber reinforced Plastic - CFRP market size was estimated at USD 24154.2 Million, out of which Latin America held the market share of around 5% of global revenue with the market size of USD 1207.71 million in 2024 and will rise at the compound annual growth rate (CAGR) of 7.4% from the year 2024 to 2031.

• According to Cognitive Market Research, the Brazil Carbon Fiber Reinforced Plastic - CFRP market size was valued at USD 516.90 million in 2024 and is projected to rise at the CAGR of 8.0% during the forecast years. Carbon Fiber reinforced Plastic - CFRPs flourished in Brazil due to the surging demand in aerospace and automotive industries for lightweight, high-performance materials.
• Argentina's Carbon Fiber reinforced Plastic - CFRP market had a market share of USD 202.90 million in 2024 and is foreseen to rise at a CAGR of 8.3% during the forecast years due to the growth in the automotive and aerospace sectors .
• Colombia Carbon Fiber Reinforced Plastic - CFRP market is foreseen to experience growth at the CAGR of 7.2% during the forecast years, with a market size of USD 107.49 million in 2024.
• Peru Carbon Fiber Reinforced Plastic - CFRP market is foreseento experience growth at the CAGR of 7.6% during the forecast years, with a market size of USD 99.03 million in 2024.
• Chile's Carbon Fiber reinforced Plastic - CFRP market is foreseen to experience growth at a CAGR of 7.7% during the forecast years, with a market size of USD 86.96 million in 2024.
• The Rest of Latin America's Carbon Fiber reinforced Plastic - CFRP market is foreseen to experience growth at the CAGR of 6.5% during the forecast years, with a market size of USD 194.44 million in 2024.

Middle East and Africa Carbon Fiber reinforced Plastic - CFRP Market

As per the current market study, out of xxxx Million USD global market revenue 2025, Middle East and Africa market holds xx% of the market share. The Middle East and Africa Carbon Fiber reinforced Plastic - CFRP industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR. If we look at the percentage market shares of top Middle East and Africa countries for 2025,South Africa (xx%), Egypt (xx%), Nigeria (xx%), GCC Countries (xx%), Turkey (xx%), Rest of MEA (xx%)

According to Cognitive Market Research, the global Carbon Fiber reinforced Plastic - CFRP market size was estimated at USD 24154.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 483.08 million in 2024 and will rise at the compound annual growth rate (CAGR) of 7.7% from the year 2024 to 2031.

• The GCC Countries Carbon Fiber Reinforced Plastic - CFRP market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 206.76 million in 2024. Carbon Fiber reinforced Plastic - CFRP sales flourish due to the surging investments in infrastructure development and aerospace projects.
• The Egypt Carbon Fiber Reinforced Plastic - CFRP market is foreseen to experience growth at a CAGR of 8.5% during the forecast period, with a market size of USD 50.72 million in 2024.
• The South Africa Carbon Fiber Reinforced Plastic - CFRP market is foreseen to experience growth at a CAGR of 8.7% during the forecast years, with a market size of USD 76.33 million in 2024. Carbon fiber-reinforced plastic - CFRP sales flourished in South Africa due to increasing infrastructure and industrialization.
• The Turkey Carbon Fiber Reinforced Plastic - CFRP market is foreseen to experience growth at the CAGR of 7.2% during the forecast years, with a market size of USD 41.55 million in 2024.
• The Nigeria Carbon Fiber reinforced Plastic - CFRP market is foreseen to experience growth at a CAGR of 6.8% during the forecast years, with a market size of USD 50.72 million in 2024.
• The Rest of the MEA Carbon Fiber Reinforced Plastic - CFRP market is foreseen to experience growth at the CAGR of 6.7% during the forecast years, with a market size of USD 57.00 million in 2024.

Carbon Fiber reinforced Plastic - CFRP Market Analysis

How are Segments Performing in the Global Carbon Fiber Reinforced Plastic - CFRP Market?

Carbon Fiber Reinforced Plastic - CFRP Market Precursor Type Segment Analysis

According to Cognitive Market Research, PAN type is likely to dominate the Carbon Fiber reinforced Plastic - CFRP Market over the forecast period due to its superior mechanical properties and high tensile strength, which result in high-performance carbon fibers. PAN-based fibers offer better stability and durability compared to other precursors, making them the preferred choice for aerospace, automotive, and sporting applications.

The pitch type is the fastest-growing segment in carbon fiber reinforced plastic - CFRP Market due to its ability to produce high-strength, high-modulus carbon fibers at competitive costs. They offer superior performance characteristics compared to other precursors, driving increased adoption in aerospace, automotive, and industrial applications for enhanced strength and durability.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Carbon Fiber reinforced Plastic - CFRP Industry. Request a Free Sample PDF!

Carbon Fiber Reinforced Plastic - CFRP Market Source Segment Analysis

According to Cognitive Market Research, the virgin CF segment holds the largest share of the market due to its superior strength, stiffness, and reliability compared to recycled fibers. It ensures high performance in demanding applications, such as aerospace and high-end automotive sectors, where quality and consistency are critical. This makes it the preferred choice despite higher costs.

In the Carbon Fiber Reinforced Plastic - CFRP Market, the recycled CF has been expanding at a rapid pace because of its cost-effectiveness and the environmental benefits. Advances in recycling technologies reduce waste and lower material costs while increasing demand for sustainable practices drives adoption in the automotive and aerospace industries.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Carbon Fiber reinforced Plastic - CFRP Resin Type Segment Analysis

Carbon Fiber Reinforced Plastic - CFRP Market Resin Type Segment Analysis

According to Cognitive Market Research, the thermosetting CFRP segment holds the largest market share due to its superior mechanical properties, dimensional stability, and resistance to high temperatures and chemicals. Its ability to retain strength and rigidity under extreme conditions makes it apt for demanding applications in aerospace, automotive, and industrial sectors, driving its market dominance.

In the Carbon Fiber reinforced Plastic - CFRP market, the rapidly growing sector is the thermoplastic CFRP category due to its superior processing flexibility, recyclability, and lower production costs compared to thermoset CFRP. It offers enhanced impact resistance and shorter manufacturing cycles, making it ideal for automotive and aerospace applications, where performance and cost-efficiency are crucial.

• Thermosetting CFRP
• Thermoplastic CFRP

Carbon Fiber reinforced Plastic - CFRP Manufacturing Process Segment Analysis

Carbon Fiber Reinforced Plastic - CFRP Market Manufacturing Process Segment Analysis

According to Cognitive Market Research, the lay-up segment held the largest market share due to its versatility and precision in aligning carbon fibers for optimal strength and performance. This technique allows for custom shaping and layering of CFRP sheets, enhancing structural integrity and meeting specific application requirements in aerospace, automotive, and construction sectors.

In the Carbon Fiber reinforced Plastic - CFRP market, the rapidly growing sector is the resin transfer molding category due to its efficiency and cost-effectiveness in producing complex, high-quality composites. RTM reduces production time and waste by injecting resin into a mold with pre-placed carbon fibers, making it ideal for high-volume manufacturing in aerospace and automotive applications.

• Lay-up
• Compression Molding
• Resin Transfer Molding
• Filament Winding
• Pultrusion
• Injection Molding
• Others

Carbon Fiber reinforced Plastic - CFRP End-use Segment Analysis

Carbon Fiber Reinforced Plastic - CFRP Market End-use Segment Analysis

According to Cognitive Market Research, the aerospace & defense segment dominates the market due to their need for lightweight, high-strength materials that enhance fuel efficiency, performance, and durability. CFRP’s superior strength-to-weight ratio makes it ideal for aircraft components, military vehicles, and structural applications, driving significant demand in these industries.

Automotive & transportation is projected to be the fastest-growing segment in the Carbon Fiber reinforced Plastic - CFRP market due to increasing demand for lightweight materials that enhance fuel efficiency and performance. CFRP’s high strength-to-weight ratio enables the production of lighter, stronger vehicle components, contributing to reduced emissions and improved overall efficiency, thereby accelerating market expansion in this segment.

• Aerospace & Defense
• Wind Energy
• Automotive & Transportation
• Sporting Goods
• Civil Engineering
• Pipes & Tanks
• Marine
• Medical
• Electrical & Electronics
• Others

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

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• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
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Author's Conclusion