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Carbon Fiber Reinforced Plastic Market Trends and Forecast

The future of the global carbon fiber reinforced plastic product market looks promising with opportunities in the aerospace, automotive, wind energy, marine, sporting goods, construction, and pressure vessel. The global carbon fiber reinforced plastic market is expected to reach an estimated $49 billion by 2030 with a CAGR of 7% from 2023 to 2030. The major drivers for this market are growing demand for high performance and lightweight composite materials and increasing performance requirements in the various end use industries.

  • Lucintel forecasts that aerospace will remain the largest end use segment over the forecast period due to superior strength-to-weight ratio and increasing demand for composites in the production of aircraft components, such as floor beams, ailerons, vertical stabilizers, elevators, wings, and engine nacelles.
  • Epoxy based carbon fiber reinforced plastic will remain the largest segment over the forecast period due to its better chemical and mechanical properties.
  • North America is expected to remain the largest region and witness the highest growth over the forecast period due to the growth in aerospace market and increasing use of composite material in aerospace market because of its excellent mechanical properties.
Carbon Fiber Reinforced Plastic Market by End Use, Resin Type, and Process Type

 

Europe is expected to remain the largest market in the Carbon Fiber Reinforced Plastic Market

  1. United States: Major companies like Hexcel and Toray Industries are driving advancements in the US CFRP market. The government has announced funding for research into lightweight materials, targeting a 30% reduction in carbon emissions from transportation by 2030.
  2. China: China's CFRP market is expanding rapidly, with companies like Weihai Guangwei Composites investing in production capacity. The government has introduced subsidies to promote the use of composite materials in automotive and aerospace industries, with a goal of capturing 25% market share by 2025.
  3. Germany: German companies such as SGL Carbon and LANXESS are leading players in the CFRP market. The government has announced incentives for companies developing recyclable composites, aiming to achieve 50% recyclability in composites by 2030. 
  4. Japan: Japanese firms like Mitsubishi Chemical Holdings are investing in CFRP technology. The government has set targets to increase the use of lightweight materials in transportation by 20% by 2030, offering subsidies for companies investing in advanced manufacturing processes. 
  5. France: In France, companies like Arkema are driving growth in the CFRP market. The government has announced tax incentives for companies developing sustainable composites, aiming to achieve carbon neutrality in the composites industry by 2040.

Emerging Trends in the Carbon Fiber Reinforced Plastic Market

Emerging trends, which have a direct impact on the dynamics of the industry, include the development of technologies like plasma oxidation (used to oxidize the PAN precursor) and HP-RTM, will reduce the cost of raw material and reuse of CFRP is another emerging trend as it recycled carbon fiber reduces cost of product and environmental impact.
A total of 121 figures / charts and 95 tables are provided in this 223-page report to help in your business decisions. A sample figure with insights is shown below. 

Carbon Fiber Reinforced Plastic Market by Segments

 

Carbon Fiber Reinforced Plastic Market by Segment

The study includes a forecast for the global carbon fiber reinforced plastic market by end use, resin type, process type, and region as follows:

Carbon Fiber Reinforced Plastic Market by End Use [Value ($M) and Volume (M lbs) Data for 2018 – 2030]:

Carbon Fiber Reinforced Plastic Market by Resin Type [Value ($M) and Volume (M lbs) Data for 2018 – 2030]:

Carbon Fiber Reinforced Plastic Market by Process Type [Value ($M) and Volume (M lbs) Data for 2018 – 2030]:

  • Prepreg Layup
  • RTM
  • Injection Molding
  • Compression Molding
  • Filament Winding
  • Pultrusion
  • Others

Carbon Fiber Reinforced Plastic Market by Region [Value ($M) and Volume (M lbs) Data for 2018 – 2030]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World

List of Carbon Fiber Reinforced Plastic Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies carbon fiber reinforced plastic companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the carbon fiber reinforced plastic companies profiled in this report includes. 

  • GKN Fokker
  • Voith Composites SE & Co. KG
  • Plasan Carbon Composites
  • SGL Carbon
  • DowAksa Advanced Composites Holding
  • Toray Industries Inc.
  • Mitsubishi Chemical Corporation
  • Teijin Limited
  • Hexcel Corporation

Recent Devdelopments in the Carbon Fiber Reinforced Plastic Market 

  1. Röchling SE & Co. KG: Launched two sustainable products, Röchling-BioBoom and Röchling-ReLoop, to enhance their sustainability efforts and support customers in achieving their sustainability goals by focusing on bioplastics and recycled materials​ 
  2. Solvay: Introduced LTM 350, a carbon fiber epoxy prepreg tooling material aimed at providing significant time and cost savings for industries such as automotive, aerospace, and race cars​ 
  3. Hexcel Corporation: Announced new investments to expand their production capacity of carbon fiber and prepreg materials, aiming to meet the growing demand from the aerospace and defense sectors​
  4. Mitsubishi Chemical Corporation: Focused on developing next-generation carbon fiber materials to enhance performance and recyclability, aligning with the industry's shift towards sustainability​.
  5. SGL Carbon: Collaborated with multiple automotive manufacturers to develop lightweight solutions using CFRP for electric and high-performance vehicles, promoting fuel efficiency and reducing emissions​ .

Features of Carbon Fiber Reinforced Plastic Market

  • Market Size Estimates: Carbon fiber reinforced plastic market size estimation in terms of value ($B)
  • Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
  • Segmentation Analysis: Market size by end use, resin type, process type, and region.
  • Regional Analysis: Carbon fiber reinforced plastic market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis of growth opportunities in different end use, resin type, process type, and regions for the carbon fiber reinforced plastic market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the carbon fiber reinforced plastic market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the carbon fiber reinforced plastic market size?
Answer: The global carbon fiber reinforced plastic market is expected to reach an estimated $49 billion by 2030. 
Q2. What is the growth forecast for carbon fiber reinforced plastic market?
Answer: The carbon fiber reinforced plastic market is expected to grow at a CAGR of 7% from 2023 to 2030. 
Q3. What are the major drivers influencing the growth of the carbon fiber reinforced plastic market?
Answer: The major drivers for this market are growing demand for high performance and lightweight composite materials and increasing performance requirements in the various end use industries. 
Q4. What are the major applications or end use industries for carbon fiber reinforced plastic?
Answer: Aerospace, automotive, wind energy, marine, sporting goods, construction, pressure vessel, and others are the major end uses for carbon fiber reinforced plastic. 
Q5. What are the emerging trends in carbon fiber reinforced plastic market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include the development of technologies like plasma oxidation (used to oxidize the PAN precursor) and HP-RTM, will reduce the cost of raw material and reuse of CFRP is another emerging trend as it recycled carbon fiber reduces cost of product and environmental impact.
Q6. Who are the key carbon fiber reinforced plastic companies?
Answer: Some of the key carbon fiber reinforced plastic companies are as follows:

  • GKN Fokker
  • Voith Composites SE & Co. KG
  • Plasan Carbon Composites
  • SGL Group
  • DowAksa Advanced Composites Holding
  • Toray Industries Inc.
  • Mitsubishi Chemical Corporation
  • Teijin Limited
  • Hexcel Corporation

Q7. Which carbon fiber reinforced plastic resin segment will be the largest in future?
Answer: Lucintel forecasts that epoxy based resin carbon fiber reinforced plastic will remain the largest segment over the forecast period due to its better chemical and mechanical properties
Q8. In carbon fiber reinforced plastic market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to remain the largest region and witness the highest growth over next 5 years due to the growth in aerospace market and increasing use of composite material in aerospace market because of its excellent mechanical properties.  

Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost. 

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the global carbon fiber reinforced plastic market by end use (aerospace, automotive, wind energy, marine, sporting goods, construction, pressure vessel and others), by process type, by resin type, and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?

For any questions related to carbon fiber reinforced plastic market or related to CFRP, carbon fiber reinforced plastic companies, carbon fiber reinforced plastic market size, carbon fiber reinforced plastic market share, carbon fiber reinforced plastic market growth, carbon fiber reinforced plastic market research, write Lucintel analyst at email:
helpdesk@lucintel.com we will be glad to get back to you soon.

Table of Contents
 
 
1. Executive Summary
 
2. Global Carbon Fiber Reinforced Plastic Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1: Macroeconomic Trends and Forecasts
3.2: Global Carbon Fiber Reinforced Plastic Market Trends and Forecast
3.3: Global Carbon Fiber Reinforced Plastic Market by End Use
3.3.1: Aerospace
3.3.2: Automotive
3.3.3: Wind Energy
3.3.4: Marine
3.3.5: Sporting Goods
3.3.6: Construction
3.3.7: Pressure Vessels
3.3.8: Other
3.4: Global Carbon Fiber Reinforced Plastic Market by Resin Type       
3.5: Global Carbon Fiber Reinforced Plastic Market by Process Type
 
4. Market Trends and Forecast Analysis by Region
4.1: Global Carbon Fiber Reinforced Plastic Market by Region
4.2: North American Carbon Fiber Reinforced Plastic Market
4.2.1: North American Carbon Fiber Reinforced Plastic Market by End Use
4.2.2: North American Carbon Fiber Reinforced Plastic Market by Resin Type
4.2.3: North American Carbon Fiber Reinforced Plastic Market by Process Type
4.3: European Carbon Fiber Reinforced Plastic Market
4.3.1: European Carbon Fiber Reinforced Plastic Market by End Use
4.3.2: European Carbon Fiber Reinforced Plastic Market by Resin Type
4.3.3: European Carbon Fiber Reinforced Plastic Market by Process Type
4.4: APAC Carbon Fiber Reinforced Plastic Market
4.4.1: APAC Carbon Fiber Reinforced Plastic Market by End Use
4.4.2: APAC Carbon Fiber Reinforced Plastic Market by Resin Type
4.4.3: APAC Carbon Fiber Reinforced Plastic Market by Process Type
4.5: ROW Carbon Fiber Reinforced Plastic Market
4.5.1: ROW Carbon Fiber Reinforced Plastic Market by End Use
4.5.2: ROW Carbon Fiber Reinforced Plastic Market by Resin Type
4.5.3: ROW Carbon Fiber Reinforced Plastic Market by Process Type
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Geographical Reach
5.4: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Carbon Fiber Reinforced Plastic Market by End Use
6.1.2: Growth Opportunities for the Global Carbon Fiber Reinforced Plastic Market by Resin Type
6.1.3: Growth Opportunities for the Global Carbon Fiber Reinforced Plastic Market by Process Type
6.1.4: Growth Opportunities for the Global Carbon Fiber Reinforced Plastic Market by Region
6.2: Emerging Trends in the Global Carbon Fiber Reinforced Plastic Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Carbon Fiber Reinforced Plastic Market
6.3.3: Mergers, Acquisitions and Joint Ventures in the Global Carbon Fiber Reinforced Plastic Market
 
7. Company Profiles of Leading Players
7.1: GKN Fokker
7.2: Voith Composites SE & Co. Kg
7.3: Plasan Carbon Composites
7.4: SGL Carbon
7.5: DowAksa Advanced Composites Holding
7.6: Toray Industries Inc. 
7.7: Mitsubishi Chemical Group
7.8: Teijin Limited
7.9:  Hexcel Corporation

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121 figures/charts and 95 tables are provided in this 223 - page report
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.