Carbon Fiber Reinforced Plastic (CFRP) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global carbon fiber reinforced plastic (CFRP) market size reached US$ 18.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.
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 2023-2028. 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.
Key Questions Answered in This Report
1. How big is the global Carbon Fiber Reinforced Plastic (CFRP) market?
2. What is the expected growth rate of the global Carbon Fiber Reinforced Plastic (CFRP) market during 2023-2028?
3. What are the key factors driving the global Carbon Fiber Reinforced Plastic (CFRP) market?
4. What has been the impact of COVID-19 on the global Carbon Fiber Reinforced Plastic (CFRP) market?
5. What is the breakup of the global Carbon Fiber Reinforced Plastic (CFRP) market based on the raw materials?
6. What is the breakup of the global Carbon Fiber Reinforced Plastic (CFRP) market based on the type?
7. What is the breakup of the global Carbon Fiber Reinforced Plastic (CFRP) market based on the manufacturing process?
8. What is the breakup of the global Carbon Fiber Reinforced Plastic (CFRP) market based on the application?
9. What are the key regions in the global Carbon Fiber Reinforced Plastic (CFRP) market?
10. Who are the key players/companies in the global Carbon Fiber Reinforced Plastic (CFRP) market?
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Carbon Fiber Reinforced Plastic (CFRP) Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Raw Materials
- 6.1 Polyacrylonitrile
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Pitch-based
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Rayon-based
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 7 Market Breakup by Type
- 7.1 Thermoset
- 7.1.1 Market Trends
- 7.1.2 Major Types
- 7.1.2.1 Epoxy Resin
- 7.1.2.2 Polyester Resin
- 7.1.2.3 Vinyl Resin
- 7.1.3 Market Forecast
- 7.2 Thermoplastic
- 7.2.1 Market Trends
- 7.2.2 Major Types
- 7.2.2.1 Polyurethane
- 7.2.2.2 Polyether Ether Ketone
- 7.2.2.3 Polyethersulfone
- 7.2.3 Market Forecast
- 8 Market Breakup by Manufacturing Process
- 8.1 Layup
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Pultrusion and Filament Winding
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Resin Transfer
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Injection and Compression Moulding
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 9 Market Breakup by Application
- 9.1 Aerospace & Defense
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Automotive
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Wind Energy
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Civil Engineering
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Sporting Goods
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 9.6 Electrical and Electronics
- 9.6.1 Market Trends
- 9.6.2 Market Forecast
- 9.7 Marine Applications
- 9.7.1 Market Trends
- 9.7.2 Market Forecast
- 9.8 Others
- 9.8.1 Market Trends
- 9.8.2 Market Forecast
- 10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.2 Asia Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
- 11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
- 12 Value Chain Analysis
- 13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
- 14 Price Indicators
- 15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Cytec Industries Inc.
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.2 DowAksa Advanced Composites Holdings B.V.
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.3 Formosa Plastics Corporation
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 Financials
- 15.3.3.4 SWOT Analysis
- 15.3.4 Hexcel Corporation
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.4.4 SWOT Analysis
- 15.3.5 Mitsubishi Chemical Holdings
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.5.4 SWOT Analysis
- 15.3.6 SGL Carbon SE
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 Financials
- 15.3.6.4 SWOT Analysis
- 15.3.7 Teijin Limited.
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.7.4 SWOT Analysis
- 15.3.8 Toray Industries Inc.
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.8.4 SWOT Analysis
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