Global CF & CFRP Market Size to Grow USD 60.3 billion by 2028 | Toray Industries Inc, Teijin Limited, Mitsubishi Chemical Corporation, Hexcel Corporation, Solvay, SGL Carbon, Hyosung Advanced Materials, Zhongfu Shenying Carbon Co., Ltd

The CF market is projected to grow from USD 29.7 billion in 2022 to USD 60.3 billion by 2028, at a CAGR of 12.7% during the forecast period. Virgin carbon fiber is typically manufactured through a process called carbonization or pyrolysis. In this process, precursor materials, such as polyacrylonitrile (PAN), pitch, or rayon, are subjected to high temperatures in the absence of oxygen, causing the fibers to undergo chemical changes and carbonize. The resulting carbon fibers are then further processed and treated to enhance their properties. Virgin carbon fiber exhibits excellent mechanical properties, including high tensile strength, stiffness, and low weight. It offers a high strength-to-weight ratio, making it an ideal material for applications that require lightweight and strong components.

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The report provides a comprehensive analysis of company profiles:

Prominent companies include Toray Industries Inc., (Japan), Teijin Limited (Japan), Mitsubishi Chemical Corporation (Japan), Hexcel Corporation (US), Solvay (Belgium), SGL Carbon (Germany), Hyosung Advanced Materials (South Korea), Zhongfu Shenying Carbon Co., Ltd. (China), among others.

The CF (Carbon Fiber) and CFRP (Carbon Fiber Reinforced Polymer) market have been growing steadily over the past few years and are expected to continue their growth trajectory in the future. CF and CFRP are lightweight, high-strength materials that offer several advantages over traditional materials like steel and aluminum. They find applications in various industries, including aerospace, automotive, sports and leisure, wind energy, and construction.

The aerospace industry has been one of the major drivers of the CF and CFRP market. Carbon fiber composites are extensively used in the manufacturing of aircraft components, including wings, fuselages, and interiors, due to their exceptional strength-to-weight ratio. The automotive industry is also increasingly adopting CFRP for lightweighting vehicles, which helps improve fuel efficiency and reduce emissions.

In recent years, there has been a growing demand for CF and CFRP in the sports and leisure sector. Carbon fiber is used in the production of bicycles, tennis rackets, golf clubs, fishing rods, and various other sporting goods due to its high strength, stiffness, and light weight. This trend is expected to continue as more consumers seek high-performance and durable products.

The wind energy sector is another significant market for CF and CFRP. Carbon fiber composites are used in wind turbine blades, which need to be lightweight yet sturdy to maximize energy generation. As renewable energy continues to gain prominence, the demand for CF and CFRP in the wind energy sector is expected to increase.

The construction industry is also exploring the use of CF and CFRP in infrastructure projects. These materials offer benefits such as corrosion resistance, high durability, and design flexibility. They are used in applications such as reinforcing concrete structures, strengthening bridges, and creating lightweight architectural elements.

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Overall, the CF and CFRP market is driven by factors such as the need for lightweight materials, increasing demand from end-use industries, and the focus on energy efficiency and sustainability. As technology advances and production costs decrease, carbon fiber composites are becoming more accessible and affordable, further fueling market growth.

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