Global Carbon Fiber Reinforced Plastic Market Growing at a CAGR of 12.33% to Reach USD 62.97 Billion By 2030 | Infinium Global Research

Infinium Global Research, a leading provider of comprehensive market insights, has released a comprehensive report delving into the global and regional dynamics of the Carbon Fiber Reinforced Plastic (CFRP) Market. This detailed analysis examines segments, sub-segments, and significant market indicators, projecting robust growth prospects within this evolving industry. The global carbon fiber reinforced plastic market was valued at USD 25.21 Billion in 2022 and is expected to reach USD 62.97 Billion by 2030 and grow at a CAGR of 12.33% over the forecast period.

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Key Highlights from the Report:

Significant Market Growth Drivers: The global CFRP market is anticipated to grow at a CAGR of 12.33% between 2023 and 2030. The surge in demand within the automotive industry, coupled with substantial growth in the defense sector, serves as a pivotal driver for the CFRP market. The rising preference for CFRP in sports applications and substantial research and development in the aviation sector contribute to market expansion. Additionally, increased oil prices drive the need for fuel-efficient vehicles and aircraft, further augmenting the demand for CFRP. The rising popularity of hybrid and electric vehicles also presents growth opportunities, although the high production costs for defense-grade CFRP pose challenges.

Regional Dynamics: North America currently dominates the CFRP market, driven by a shift toward lightweight materials in automotive industries and the presence of prominent aircraft and defense manufacturers. Meanwhile, the Asia Pacific region showcases significant potential owing to infrastructural development, urbanization, industrial growth, and expanding wind power markets.

Key Market Players: Prominent players shaping the CFRP market include Solvay SA, DowAksa Advanced Composites Holding B.V., Hexcel Corporation, and other major industry contributors.

Wide Applications Across Industries: The utilization of CFRP spans across various industries, including aerospace, automotive, marine, and civil engineering. Notably, these materials offer exceptional strength-to-weight ratios and superior properties, fueling their demand in high-performance vehicles and advanced engineering projects. The adoption of CFRP in wind turbine manufacturing, particularly for lighter and stiffer blades, underscores its pivotal role in the renewable energy sector's growth.

Challenges and Opportunities: Cost remains a significant challenge as raw carbon fiber is notably more expensive than alternatives like fiberglass or steel. However, advancements in manufacturing processes, investments in innovative technologies, and the development of low-cost precursors are expected to alleviate cost barriers, creating favourable growth prospects in the CFRP market.

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Table of Content

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. Carbon Fiber Reinforced Plastic Market Highlights

2.2. Carbon Fiber Reinforced Plastic Market Projection

2.3. Carbon Fiber Reinforced Plastic Market Regional Highlights

Chapter 3. Global Carbon Fiber Reinforced Plastic Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Porter's Five Forces Analysis

3.4. IGR-Growth Matrix Analysis

3.4.1. IGR-Growth Matrix Analysis by Raw Materials

3.4.2. IGR-Growth Matrix Analysis by Type

3.4.3. IGR-Growth Matrix Analysis by Application

3.4.4. IGR-Growth Matrix Analysis by Region

3.5. Value Chain Analysis of Carbon Fiber Reinforced Plastic Market

Chapter 4. Carbon Fiber Reinforced Plastic Market Macro Indicator Analysis

Chapter 5. Global Carbon Fiber Reinforced Plastic Market by Raw Materials

5.1. Polyacrylonitrile

5.2. Petroleum Pitch

5.3. Other Raw Materials

Chapter 6. Global Carbon Fiber Reinforced Plastic Market by Type

6.1. Thermosetting

6.2. Thermoplastic

Chapter 7. Global Carbon Fiber Reinforced Plastic Market by Application

7.1. Aerospace & Defense

7.2. Wind Turbines

7.3. Sports Equipment

7.4. Automotive

7.5. Other Applications

Chapter 8. Global Carbon Fiber Reinforced Plastic Market by Region 2023-2030

8.1. North America

8.1.1. North America Carbon Fiber Reinforced Plastic Market by Raw Materials

8.1.2. North America Carbon Fiber Reinforced Plastic Market by Type

8.1.3. North America Carbon Fiber Reinforced Plastic Market by Application

8.1.4. North America Carbon Fiber Reinforced Plastic Market by Country

8.2. Europe

8.2.1. Europe Carbon Fiber Reinforced Plastic Market by Raw Materials

8.2.2. Europe Carbon Fiber Reinforced Plastic Market by Type

8.2.3. Europe Carbon Fiber Reinforced Plastic Market by Application

8.2.4. Europe Carbon Fiber Reinforced Plastic Market by Country

8.3. Asia-Pacific

8.3.1. Asia-Pacific Carbon Fiber Reinforced Plastic Market by Raw Materials

8.3.2. Asia-Pacific Carbon Fiber Reinforced Plastic Market by Type

8.3.3. Asia-Pacific Carbon Fiber Reinforced Plastic Market by Application

8.3.4. Asia-Pacific Carbon Fiber Reinforced Plastic Market by Country

8.4. RoW

8.4.1. RoW Carbon Fiber Reinforced Plastic Market by Raw Materials

8.4.2. RoW Carbon Fiber Reinforced Plastic Market by Type

8.4.3. RoW Carbon Fiber Reinforced Plastic Market by Application

8.4.4. RoW Carbon Fiber Reinforced Plastic Market by Sub-region

Chapter 9. Company Profiles and Competitive Landscape

9.1. Competitive Landscape in the Global Carbon Fiber Reinforced Plastic Market

9.2. Companies Profiles

9.2.1. Solvay SA

9.2.2. DowAksa Advanced Composites Holding B.V.

9.2.3. Formosa Plastics Corporation

9.2.4. Hexcel Corporation

9.2.5. JEC Group

9.2.6. Mitsubishi Chemical Corporation.

9.2.7. SGL Carbon

9.2.8. TEIJIN LIMITED

9.2.9. TORAY INDUSTRIES, INC.

9.2.10. ZHONGFU SHENYING CARBON FIBER CO., LTD.

9.2.11. Other companies

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of Carbon Fiber Reinforced Plastic.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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