Carbon Fiber Reinforced Plastic (CFRP) Market Report by Raw Materials (Polyacrylonitrile, Pitch-based, Rayon-based), Type (Thermoset, Thermoplastic), Manufacturing Process (Layup, Pultrusion and Filament Winding, Resin Transfer, Injection and Compression Moulding, and Others), Application (Aerospace & Defense, Automotive, Wind Energy, Civil Engineering, Sporting Goods, Electrical and Electronics, Marine Applications, and Others), and Region 2025-2033

Carbon Fiber Reinforced Plastic (CFRP) Market Report by Raw Materials (Polyacrylonitrile, Pitch-based, Rayon-based), Type (Thermoset, Thermoplastic), Manufacturing Process (Layup, Pultrusion and Filament Winding, Resin Transfer, Injection and Compression Moulding, and Others), Application (Aerospace & Defense, Automotive, Wind Energy, Civil Engineering, Sporting Goods, Electrical and Electronics, Marine Applications, and Others), and Region 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A1964

Market Overview:

The global carbon fiber reinforced plastic (CFRP) market size reached USD 21.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 35.9 Billion by 2033, exhibiting a growth rate (CAGR) of 5.64% during 2025-2033.

Report Attribute
 Key Statistics
Base Year
2024
Forecast Years
2025-2033
Historical Years
2019-2024
Market Size in 2024 USD 21.4 Billion
Market Forecast in 2033 USD 35.9 Billion
Market Growth Rate (2025-2033) 5.64%


The carbon fiber reinforced plastic (CFRP) refers to a composite material that consists of a polymer matrix fortified with fibers. Epoxy, polyester, nylon and vinyl are some of the commonly used CFRPs, which are usually produced by the infusion of the resin with a carbon fiber reinforcement. They are also manufactured through various other processes, such as layup, pultrusion and winding, compression and injection, etc. These plastics exhibit numerous physical properties, such as impact resistance, fatigue resistance, high tensile strength, durability and minimal weight. Owing to this, they find extensive applications in the manufacturing of sports equipment, aerospace and automotive components, protective helmets, blades of wind turbines and construction materials.

The continuous growth in the aerospace industry, along with the increasing product demand for the manufacturing of lightweight automotive components, is one of the key factors driving the growth of the market. In comparison to the traditionally used materials, such as aluminum and steel, CFRPs aid in the manufacturing of environment-friendly and lightweight components with improved fuel economy and higher efficiencies. Extensive utilization of CFRP in the production of various building and construction materials is acting as another major growth-inducing factor. Columns, piers, pylons and reinforcing structures are manufactured using CFRP, owing to its durability and resistance against electromagnetic interference. Other factors, including the growing demand for high-performance products in the defense sector and the increasing product utilization in surgical implants and other medical applications, are projected to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global carbon fiber reinforced plastic (CFRP) market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on raw materials, type, manufacturing process and application.

Breakup by Raw Materials:

  • Polyacrylonitrile
  • Pitch-based
  • Rayon-based
     

Breakup by Type:

  • Thermoset
    • Epoxy Resin
    • Polyester Resin
    • Vinyl Resin
  • Thermoplastic
    • Polyurethane
    • Polyether Ether Ketone
    • Polyethersulfone
       

Breakup by Manufacturing Process:

  • Layup
  • Pultrusion and Filament Winding
  • Resin Transfer
  • Injection and Compression Moulding
  • Others
     

Breakup by Application:

  • Aerospace & Defense
  • Automotive
  • Wind Energy
  • Civil Engineering
  • Sporting Goods
  • Electrical and Electronics
  • Marine Applications
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Cytec Industries Inc., DowAksa Advanced Composites Holdings B.V., Formosa Plastics Corporation, Hexcel Corporation, Mitsubishi Chemical Holdings, SGL Carbon SE, Teijin Limited. and Toray Industries, Inc., etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2024
Historical Period 2019-2024
Forecast Period 2025-2033
Units  Billion USD
Segment Coverage Raw Materials, Type, Manufacturing Process, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Cytec Industries Inc., DowAksa Advanced Composites Holdings B.V., Formosa Plastics Corporation, Hexcel Corporation, Mitsubishi Chemical Holdings, SGL Carbon SE, Teijin Limited and Toray Industries, Inc.
Customization Scope 10% Free Customization
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The Carbon Fiber Reinforced Plastic (CFRP) market was valued at USD 21.4 Billion in 2024.

We expect the global Carbon Fiber Reinforced Plastic (CFRP) market to exhibit a CAGR of 5.64% during 2025-2033.

The rising consumer preference towards CFRP for manufacturing environment-friendly and lightweight components with improved fuel economy and higher efficiencies than traditionally used materials, such as aluminum and steel, is primarily driving the global Carbon Fiber Reinforced Plastic (CFRP) market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for Carbon Fiber Reinforced Plastics (CFRP).

Based on the raw materials, the global Carbon Fiber Reinforced Plastic (CFRP) market has been segmented into polyacrylonitrile, pitch-based, and rayon-based, where polyacrylonitrile currently holds the majority of the total market share.

Based on the type, the global Carbon Fiber Reinforced Plastic (CFRP) market can be divided into thermoset (epoxy resin, polyester resin, and vinyl resin) and thermoplastic (polyurethane, polyether ether ketone, and polyethersulfone). Currently, thermoset (epoxy resin) exhibits a clear dominance in the market.

Based on the manufacturing process, the global Carbon Fiber Reinforced Plastic (CFRP) market has been categorized into layup, pultrusion and filament winding, resin transfer, injection and compression moulding, and others. Among these, layup currently accounts for the largest market share.

Based on the application, the global Carbon Fiber Reinforced Plastic (CFRP) market can be segregated into aerospace & defense, automotive, wind energy, civil engineering, sporting goods, electrical and electronics, marine applications, and others. Currently, aerospace & defense exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific (China) currently dominates the global market.

Some of the major players in the global Carbon Fiber Reinforced Plastic (CFRP) market include Cytec Industries Inc., DowAksa Advanced Composites Holdings B.V., Formosa Plastics Corporation, Hexcel Corporation, Mitsubishi Chemical Holdings, SGL Carbon SE, Teijin Limited, Toray Industries, Inc., etc.

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Carbon Fiber Reinforced Plastic (CFRP) Market Report by Raw Materials (Polyacrylonitrile, Pitch-based, Rayon-based), Type (Thermoset, Thermoplastic), Manufacturing Process (Layup, Pultrusion and Filament Winding, Resin Transfer, Injection and Compression Moulding, and Others), Application (Aerospace & Defense, Automotive, Wind Energy, Civil Engineering, Sporting Goods, Electrical and Electronics, Marine Applications, and Others), and Region 2025-2033
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