The Carbon Fiber (CF) and Carbon Fiber Reinforced Polymer (CFRP) market is witnessing robust growth, driven by rising demand for lightweight, high-strength materials in aerospace, automotive, and wind energy sectors. Leading companies like Toray, Teijin, Mitsubishi Chemical, and Hexcel are expanding capacity and advancing technology, positioning the market for strong global expansion.

The CFRP market is projected to grow from USD 22.48 billion in 2025 to USD 35.55 billion by 2030, at a CAGR of 9.6% during the forecast period. This report provides a comprehensive analysis of the market, including CFRP market size, trends, drivers and constraints, competitive aspects, and prospects for future growth. Continuous technological innovation in 3D printing drives growth in the 3D printing metals market.

The market for CF & CFRP is influenced by several primary factors, including the presence of numerous manufacturers, government support, and increased carbon fiber production. The rising number of manufacturers worldwide encourages competition and innovation, resulting in the development of lightweight, high-strength CF & CFRP products. The growing demand for electric vehicles and the need for lightweight materials to enhance their range and efficiency have further boosted the demand for CF & CFRP in the automotive industry. Additionally, the increasing trend toward sustainability and eco-friendliness has led to the rising use of CF and CFRP in renewable energy applications, particularly in wind energy for producing long-lasting and durable wind turbines.

PAN dominated the precursor type segment in terms of value in the CF market

PAN precursor dominates the CF market due to its superior strength, stability, and higher carbon yield. About 90% of the carbon fiber produced is made from PAN, while the remaining 10% comes from rayon or petroleum pitch. PAN-based carbon fiber is produced from acrylonitrile through a process involving PAN fiber synthesis, flame retardant treatment, carbonization, graphitization, surface treatment, and sizing. The lightweight and high-strength characteristics of PAN-based carbon fiber have led to its extensive use across various applications, such as aircraft brakes, space structures, military and commercial planes, lithium batteries, sporting goods, and structural reinforcement in construction materials.

Recycled carbon fiber is expected to grow at the highest CAGR in terms of value in the CF market during the forecasted period

In the CF market, the recycled carbon fiber segment is expected to register the highest CAGR due to growing sustainability goals and stricter environmental regulations, which push industries to reduce waste and carbon emissions. It offers a cost-effective alternative to virgin carbon fiber, making it attractive for automotive, aerospace & defense, wind energy, and sporting goods manufacturers. Advancements in recycling technologies have improved the quality and consistency of recycled carbon fiber, expanding its applications. Additionally, companies are seeking lightweight, high-performance materials to enhance fuel efficiency and product durability.

The pipe & tank industry is expected to register the second-highest CAGR in terms of value in the CFRP market during the forecast period

The pipe & tank segment will register the second-highest growth rate in the CFRP market. As CFRP offers outstanding properties, such as a high strength-to-weight ratio, corrosion resistance, and durability, it makes it an ideal substitute for traditional materials like steel and aluminum in demanding applications. In the oil & gas sector, CFRP pipes and tanks are mostly used to transport crude oil and store high-pressure gases, as they have the ability to withstand harsh environmental conditions like saltwater and corrosive chemicals, further extending shelf life and reducing maintenance costs. CFRP pipes & tanks are also being used in the chemical industry for enhanced resistance to water vapor and mechanical stress in applications like chlorine production by replacing rubber-lined steel tanks.

Europe accounted for the second-largest share of the CFRP market in terms of value

Europe dominates the CFRP market due to strong demand from the aerospace and automotive industries for improved efficiency and reduced carbon emissions. The CFRP market in Europe is characterized by capacity expansions, joint ventures, and agreements among various leading players. Airbus generates high demand for carbon fiber reinforced plastics. The company’s Superjumbo A380 and A350 are constructed with large quantities of CF & CFRP. The recently released A380 is a sizable aircraft made from approximately 30 tons per unit of carbon fiber. Many regional car manufacturers, such as BMW (Germany) and Audi (Germany), now utilize carbon fiber reinforced plastics on a significant scale. The carbon fiber reinforced plastic (CFRP) market in Europe has been experiencing growth and significant demand from various sectors. Europe is home to several prominent automotive manufacturers, aerospace companies, and renewable energy projects, all of which contribute to the increasing adoption of CFRP.

Toray Industries, Inc. (Japan)

Toray Industries, Inc. is a Japanese multinational company that specializes in advanced materials and technologies. The company operates across various sectors, including fibers and textiles, performance chemicals, carbon fiber composite materials, and environmental and engineering solutions. It offers carbon fibers and carbon fiber reinforced plastics through its carbon fiber composite materials business segment, which is designed to meet the rigorous demands of aerospace and industrial applications. Toray Industries, Inc. has operations in Japan, China, South Korea, the US, and several European nations. The company’s commitment to innovation and sustainability is evident in its ongoing development of advanced carbon fiber technologies and its strategic initiatives to reduce CO2 emissions, aiming for carbon neutrality by 2050.

Mitsubishi Chemical Corporation (Japan)

Mitsubishi Chemical Corporation, a subsidiary of Mitsubishi Chemical Group Corporation, is a global leader in the chemicals sector, focusing on advancing science and technology. The company operates within five business segments: Specialty Materials, MMA & Derivatives, Basic Materials & Polymers, Pharma, and Industrial Gases. Through the advanced composites & shapes sub-segment under Specialty Materials, the company offers carbon fiber and carbon fiber products for various applications in the automotive, aerospace & defense, industrial equipment, wind energy, medical, and other industries. Mitsubishi Chemical Corporation has four manufacturing facilities in Japan, along with overseas services in the US, Hong Kong, China, and Germany. It also has a presence in other regions with sales representatives and distribution centers.

Teijin Limited (Japan)

Teijin Limited is a key player in the global CF & CFRP market. Teijin Carbon Europe GmbH, a principal subsidiary of Teijin Limited, has been manufacturing high-performance carbon fiber under the brand name Tenax. It also offers advanced material solutions, including high-temperature resins, prepreg systems, new fibers, and tailored sizing, among others. Teijin Limited is expanding its global reach by entering into agreements and partnerships with other companies in the market. Additionally, it is acquiring major suppliers to enhance its production capacity to meet the growing demand. The company invests significantly in research & development for new products.

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