Global CF & CFRP Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

• In 2023, the CF CFRP market saw a rise in demand for lightweight and durable materials in the automotive and aerospace industries, with advancements in manufacturing processes improving cost-efficiency​

• In 2024, the development of more sustainable and recyclable carbon fiber composites has gained traction, with manufacturers aiming to reduce the environmental impact of carbon fiber production and promote its adoption in mass production​

In this report, the CF & CFRP Market has been segmented by Raw Material Type, Source, Resin Type, Manufacturing Process, End-Use Industry and Geography.

CF & CFRP Market, Segmentation by Raw Material Type

The CF & CFRP Market has been segmented by Raw Material Type into Polyacrylonitrile (Pan-Based) Carbon Fibers, Pitch-Based Carbon Fiber and Rayon-Based Carbon Fiber.

Polyacrylonitrile (PAN-Based) Carbon Fibers

PAN-based carbon fibers dominate the CF & CFRP market due to their superior tensile strength, lightweight characteristics, and widespread use in aerospace, automotive, and sports equipment. Their strong mechanical performance makes them the preferred raw material, capturing approximately 90% of the global market share.

Pitch-Based Carbon Fiber

Pitch-based carbon fibers are known for their high modulus and excellent thermal and electrical conductivity. They are primarily used in thermal insulation, satellite structures, and industrial heating systems. Despite niche applications, this segment accounts for around 8% of the market.

Rayon-Based Carbon Fiber

Rayon-based carbon fibers have largely fallen out of favor due to lower mechanical properties and limited supply chains. However, they are still utilized in some high-temperature applications and research settings. This segment contributes roughly 2% to the global market.

CF & CFRP Market, Segmentation by Source

The CF & CFRP Market has been segmented by Source into Virgin CF and Recycled CF.

Virgin CF

Virgin carbon fiber is the dominant source in the CF & CFRP market, offering uncompromised strength, high stiffness, and excellent performance across industries such as aerospace, automotive, and wind energy. Its consistency and quality make it the first choice for high-performance applications, commanding approximately 92% of the global market.

Recycled CF

Recycled carbon fiber is gaining traction due to growing emphasis on sustainability and cost reduction. It is increasingly used in automotive components, consumer goods, and sporting equipment, where ultra-high mechanical properties are less critical. This segment accounts for around 8% of the market and is expected to grow with advancements in recycling technologies.

CF & CFRP Market, Segmentation by Resin Type

The CF & CFRP Market has been segmented by Resin Type into Thermosetting CFRP and Thermoplastic CFRP.

Thermosetting CFRP

Thermosetting CFRP dominates the market owing to its high strength-to-weight ratio, dimensional stability, and excellent fatigue resistance. Commonly used resins include epoxy, polyester, and vinyl ester, making it ideal for aerospace, automotive, and wind energy applications. This segment captures approximately 81% of the global market.

Thermoplastic CFRP

Thermoplastic CFRP is gaining momentum due to its recyclability, toughness, and faster processing times. It is used in mass production environments like automotive and consumer electronics, where quick cycle times and impact resistance are crucial. This segment accounts for around 19% of the market and is expected to grow steadily.

CF & CFRP Market, Segmentation by Manufacturing Process

The CF & CFRP Market has been segmented by Manufacturing Process into Lay-Up Process, Compression Molding Process, Resin Transfer Molding Process, Filament Winding Process, Injection Molding Process, Pultrusion Process and Other Processes.

Lay-Up Process

The lay-up process is the most widely adopted manufacturing method for CFRP, known for its versatility and suitability for complex, large components. It is heavily used in aerospace structures and automotive panels where high strength and low weight are essential. This segment holds approximately 34% of the global market.

Compression Molding Process

Compression molding offers fast cycle times and high-volume production, making it ideal for automotive parts and sporting goods. Its ability to deliver precise shapes with minimal material waste supports a market share of about 18%.

Resin Transfer Molding Process

Resin transfer molding (RTM) is used for mid-to-high volume production of complex-shaped components. It enables good surface finish and high fiber volume fraction, especially in marine and construction sectors. This segment accounts for approximately 14% of the market.

Filament Winding Process

Filament winding is widely used for producing cylindrical components like pipes, tanks, and pressure vessels. It provides excellent directional strength and process automation. This method contributes about 11% of the market.

Injection Molding Process

Injection molding of CFRP is gaining popularity for producing small, intricate parts at high speed. Common in the electronics and automotive sectors, this method offers cost efficiency and is responsible for roughly 9% of the market.

Pultrusion Process

Pultrusion is ideal for continuous linear profiles like rods, beams, and structural supports. Known for consistent quality and low operational costs, this segment makes up around 8% of the global share.

Other Processes

Other processes include 3D printing, automated fiber placement, and vacuum infusion techniques used for specialized and prototype CFRP components. These emerging technologies collectively account for about 6% of the market.

CF & CFRP Market, Segmentation by End-Use Industry

The CF & CFRP Market has been segmented by End-Use Industry into Aerospace & Defense, Wind Energy, Automotive, Sporting Goods, Civil Engineering, Pipe & Tank, Marine, Electrical & Electronics, Medical and Other Applications.

Aerospace & Defense

Aerospace & defense is the largest end-use industry for CF & CFRP, driven by the demand for lightweight, high-strength materials in aircraft structures, missile components, and satellite frames. CFRP enhances fuel efficiency and structural performance, securing approximately 35% of the global market.

Wind Energy

In wind energy, CF & CFRP are extensively used in turbine blades due to their high stiffness, light weight, and fatigue resistance. Their use supports the construction of larger and more efficient turbines. This segment contributes around 17% of the market.

Automotive

The automotive sector increasingly uses CFRP for body panels, chassis components, and interior parts to improve fuel economy and crash performance. As electric vehicles rise, CFRP adoption continues to expand, accounting for about 15% of the market.

Sporting Goods

Sporting goods manufacturers leverage CFRP for bicycles, golf clubs, rackets, and hockey sticks, offering lightweight strength and performance enhancement. This segment represents roughly 8% of global demand.

Civil Engineering

In civil engineering, CFRP is applied in structural reinforcement, bridge retrofitting, and earthquake-resistant designs due to its corrosion resistance and long-term durability. This segment makes up approximately 6% of the market.

Pipe & Tank

CFRP is used in manufacturing chemical-resistant pipes and high-pressure storage tanks for industries like oil & gas and chemical processing. The segment contributes about 5% to the global share.

Marine

Marine applications include boat hulls, masts, and propellers, where CFRP ensures weight reduction and corrosion resistance. This segment accounts for approximately 4% of the market.

Electrical & Electronics

In the electronics sector, CFRP is used for shielding casings, structural frames, and circuit board reinforcements due to its thermal conductivity and EMI shielding properties. This segment holds around 3% of the global share.

Medical

CFRP is used in prosthetics, surgical instruments, and imaging equipment components thanks to its biocompatibility and non-magnetic properties. The medical segment contributes approximately 3% of the market.

Other Applications

The “Other Applications” segment includes use in robotics, industrial machinery, and luxury consumer products. These niche applications collectively account for about 4% of the total market.

CF & CFRP Market, Segmentation by Geography

In this report, the CF & CFRP Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

CF & CFRP Market Share (%), by Geographical Region

North America

North America holds a strong position in the CF & CFRP market, driven by high demand in the aerospace & defense and automotive industries. The region benefits from advanced composite manufacturing infrastructure and established OEMs, securing approximately 32% of the global market share.

Europe

Europe is a key region for CF & CFRP, supported by widespread adoption in wind energy, automotive engineering, and sporting goods. Regulatory support for lightweight, sustainable materials and innovation hubs in Germany, France, and the UK contribute to its roughly 28% share.

Asia Pacific

Asia Pacific leads the global CF & CFRP market, propelled by booming automotive production, expanding aerospace investments, and increasing demand in infrastructure and electronics. With strong contributions from China, Japan, and South Korea, the region commands approximately 34% of the market.

Middle East and Africa

The Middle East and Africa region is witnessing growing adoption of CF & CFRP in oil & gas, infrastructure reinforcement, and military applications. While still emerging, the region contributes around 3% to the global market and shows potential for future growth.

Latin America

Latin America’s CF & CFRP market is expanding steadily, supported by applications in automotive components, civil engineering, and renewable energy structures. Brazil and Mexico are the major contributors, with the region accounting for approximately 3% of global demand.

This report provides an in depth analysis of various factors that impact the dynamics of Global CF & CFRP Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunity Analysis

Drivers

• Lightweighting
• Fuel efficiency
• High strength-to-weight ratio

• Environmental sustainability - Environmental sustainability is a critical consideration in the global carbon fiber (CF) and carbon fiber reinforced polymer (CFRP) market. As industries seek to reduce their carbon footprint and mitigate environmental impact, CF and CFRP offer significant potential for promoting sustainability across various sectors. Firstly, these materials enable lightweighting, leading to improved fuel efficiency and reduced emissions in automotive, aerospace, and transportation industries. By substituting heavier materials with CF and CFRP, vehicles can achieve higher energy efficiency and lower greenhouse gas emissions, contributing to environmental sustainability efforts.

  CF and CFRP support the transition to renewable energy sources, particularly in wind energy applications. CFRP materials are extensively used in the manufacturing of wind turbine blades, enhancing aerodynamic performance and increasing energy output from wind farms. By harnessing the power of wind with lightweight and durable CF and CFRP components, renewable energy systems can reduce reliance on fossil fuels and mitigate environmental degradation associated with traditional energy sources.

  CF and CFRP contribute to circular economy principles through recycling initiatives and sustainable material practices. Efforts to improve the recyclability of CF and CFRP materials are underway, enabling the recovery and reuse of carbon fibers in new applications. Additionally, advancements in bio-based resins and eco-friendly manufacturing processes further enhance the environmental sustainability of CF and CFRP products. By integrating sustainable practices throughout the product lifecycle, including material sourcing, manufacturing, use, and end-of-life disposal, the CF and CFRP industry can minimize environmental impact and promote a more sustainable future.

Restraints

• High production costs
• Limited availability of raw materials
• Complex manufacturing processes

• Technological barriers - Technological barriers present challenges to the widespread adoption and advancement of carbon fiber (CF) and carbon fiber reinforced polymer (CFRP) materials. One significant barrier is the complexity of manufacturing processes and the associated high costs. Traditional methods for producing CF and CFRP involve intricate procedures such as curing, molding, and weaving, which require specialized equipment and expertise. The capital investment and skilled labor required for these processes can pose barriers to entry for manufacturers, particularly small and medium-sized enterprises.

  Another technological barrier is the limited scalability of production methods. While CF and CFRP offer exceptional strength-to-weight ratios and mechanical properties, scaling up production to meet mass-market demands presents challenges. Existing manufacturing techniques may struggle to accommodate large-volume production without sacrificing quality or increasing costs. Developing scalable and cost-effective manufacturing processes is crucial for expanding the use of CF and CFRP in mainstream applications such as automotive, construction, and consumer goods.

  Technological barriers exist in the recycling and end-of-life management of CF and CFRP materials. Unlike metals or traditional plastics, CF and CFRP composites are challenging to recycle due to their complex composite structures and bonding mechanisms. Developing efficient and economically viable recycling technologies for CF and CFRP is essential for minimizing waste and maximizing the sustainability of these materials. Addressing technological barriers in recycling could unlock new opportunities for closed-loop material cycles and circular economy practices in the CF and CFRP industry.

  Technological advancements are needed to overcome performance limitations in specific applications. For example, improving the impact resistance and damage tolerance of CF and CFRP materials is crucial for expanding their use in high-stress environments such as automotive crash structures or aircraft components. Research and development efforts focused on enhancing material properties, developing novel manufacturing techniques, and overcoming technological barriers will be instrumental in realizing the full potential of CF and CFRP materials across diverse industries.

Opportunities

• Lightweighting
• Renewable energy
• Electric vehicles (EVs)

• Advanced manufacturing - Advanced manufacturing plays a pivotal role in unlocking the full potential of carbon fiber (CF) and carbon fiber reinforced polymer (CFRP) materials, offering opportunities to overcome technological barriers and accelerate market adoption. Advanced manufacturing encompasses a range of innovative techniques and technologies that enhance production efficiency, product quality, and design flexibility while reducing costs and environmental impact.

  One key aspect of advanced manufacturing in CF and CFRP is the development of automated and robotic processes. Automation enables precise and consistent placement of carbon fiber reinforcements, reducing variability and improving part quality. Robotic systems equipped with advanced sensors and control algorithms can optimize material usage, minimize waste, and increase production throughput, making CF and CFRP manufacturing more scalable and cost-effective.

  Additive manufacturing, or 3D printing, is another area of advanced manufacturing that holds promise for CF and CFRP applications. Additive manufacturing techniques allow for the direct fabrication of complex geometries and customized components with minimal material waste. By depositing layers of CF-reinforced thermoplastic or resin materials, additive manufacturing enables rapid prototyping, tooling production, and on-demand manufacturing of lightweight and high-performance parts for aerospace, automotive, and consumer goods industries.

Key players in Global CF & CFRP Market include;

• Toray Industries Inc.
• Teijin Limited
• Mitsubishi Chemical Holdings Corporation
• SGL Group
• Formosa Plastics Corporation
• Hexcel Corporation
• Hyosung
• Tencate
• Dowaksa
• Cytec Solvay Group
• Taekwang Industrial Co. Ltd.
• Gurit Holdings AG
• Plasan Carbon Composites
• SK Chemicals
• Nippon Graphite Fiber Corporation

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis