Carbon Fiber Reinforced Plastic (CFRP) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

September 2023 | 145 pages | ID: C941FE99C143EN
IMARC Group

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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

2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
  2.3.1Primary Sources
  2.3.2Secondary Sources
2.4Market Estimation
  2.4.1Bottom-Up Approach
  2.4.2Top-Down Approach
2.5Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1Overview
4.2Key Industry Trends

5 GLOBAL CARBON FIBER REINFORCED PLASTIC (CFRP) MARKET

5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Forecast

6 MARKET BREAKUP BY RAW MATERIALS

6.1Polyacrylonitrile
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2Pitch-based
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3Rayon-based
  6.3.1 Market Trends
  6.3.2 Market Forecast

7 MARKET BREAKUP BY TYPE

7.1Thermoset
  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
7.2Thermoplastic
  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

8.1Layup
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2Pultrusion and Filament Winding
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3Resin Transfer
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4Injection and Compression Moulding
  8.4.1 Market Trends
  8.4.2 Market Forecast
8.5Others
  8.5.1 Market Trends
  8.5.2 Market Forecast

9 MARKET BREAKUP BY APPLICATION

9.1Aerospace & Defense
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2Automotive
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3Wind Energy
  9.3.1 Market Trends
  9.3.2 Market Forecast
9.4Civil Engineering
  9.4.1 Market Trends
  9.4.2 Market Forecast
9.5Sporting Goods
  9.5.1 Market Trends
  9.5.2 Market Forecast
9.6Electrical and Electronics
  9.6.1 Market Trends
  9.6.2 Market Forecast
9.7Marine Applications
  9.7.1 Market Trends
  9.7.2 Market Forecast
9.8Others
  9.8.1 Market Trends
  9.8.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1North 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
10.2Asia 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
10.3Europe
  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
10.4Latin 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
10.5Middle East and Africa
  10.5.1 Market Trends
  10.5.2 Market Breakup by Country
  10.5.3 Market Forecast

11 SWOT ANALYSIS

11.1Overview
11.2Strengths
11.3Weaknesses
11.4Opportunities
11.5Threats

12 VALUE CHAIN ANALYSIS

13 PORTERS FIVE FORCES ANALYSIS

13.1Overview
13.2Bargaining Power of Buyers
13.3Bargaining Power of Suppliers
13.4Degree of Competition
13.5Threat of New Entrants
13.6Threat of Substitutes

14 PRICE INDICATORS

15 COMPETITIVE LANDSCAPE

15.1Market Structure
15.2Key Players
15.3Profiles of Key Players
  15.3.1Cytec Industries Inc.
    15.3.1.1 Company Overview
    15.3.1.2 Product Portfolio
  15.3.2DowAksa Advanced Composites Holdings B.V.
    15.3.2.1 Company Overview
    15.3.2.2 Product Portfolio
    15.3.2.3 Financials
  15.3.3Formosa 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
  15.3.4Hexcel Corporation
    15.3.4.1 Company Overview
    15.3.4.2 Product Portfolio
    15.3.4.3 Financials
    15.3.4.4 SWOT Analysis
  15.3.5Mitsubishi 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
  15.3.6SGL 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
  15.3.7Teijin Limited.
    15.3.7.1 Company Overview
    15.3.7.2 Product Portfolio
    15.3.7.3 Financials
    15.3.7.4 SWOT Analysis
  15.3.8Toray 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

LIST OF TABLES

Table 1: Global: Carbon Fiber Reinforced Plastic Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Carbon Fiber Reinforced Plastic Market Forecast: Breakup by Raw Materials (in Million US$), 2023-2028
Table 3: Global: Carbon Fiber Reinforced Plastic Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 4: Global: Carbon Fiber Reinforced Plastic Market Forecast: Breakup by Manufacturing Process (in Million US$), 2023-2028
Table 5: Global: Carbon Fiber Reinforced Plastic Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 6: Global: Carbon Fiber Reinforced Plastic Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Carbon Fiber Reinforced Plastic Market: Competitive Structure
Table 8: Global: Carbon Fiber Reinforced Plastic Market: Key Players

LIST OF FIGURES

Figure 1: Global: Carbon Fiber Reinforced Plastic Market: Major Drivers and Challenges
Figure 2: Global: Carbon Fiber Reinforced Plastic Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Carbon Fiber Reinforced Plastic Market: Breakup by Raw Materials (in %), 2022
Figure 4: Global: Carbon Fiber Reinforced Plastic Market: Breakup by Type (in %), 2022
Figure 5: Global: Carbon Fiber Reinforced Plastic Market: Breakup by Manufacturing Process (in %), 2022
Figure 6: Global: Carbon Fiber Reinforced Plastic Market: Breakup by Application (in %), 2022
Figure 7: Global: Carbon Fiber Reinforced Plastic Market: Breakup by Region (in %), 2022
Figure 8: Global: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 9: Global: Carbon Fiber Reinforced Plastic (Polyacrylonitrile) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Carbon Fiber Reinforced Plastic (Polyacrylonitrile) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Carbon Fiber Reinforced Plastic (Pitch-based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Carbon Fiber Reinforced Plastic (Pitch-based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Carbon Fiber Reinforced Plastic (Rayon-based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Carbon Fiber Reinforced Plastic (Rayon-based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Carbon Fiber Reinforced Plastic (Thermoset Plastics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Carbon Fiber Reinforced Plastic (Thermoset Plastics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Carbon Fiber Reinforced Plastic (Thermoplastic Plastics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Carbon Fiber Reinforced Plastic (Thermoplastic Plastics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Carbon Fiber Reinforced Plastic (Layup) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Carbon Fiber Reinforced Plastic (Layup) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Carbon Fiber Reinforced Plastic (Pultrusion and Filament Winding) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Carbon Fiber Reinforced Plastic (Pultrusion and Filament Winding) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Carbon Fiber Reinforced Plastic (Resin Transfer) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Carbon Fiber Reinforced Plastic (Resin Transfer) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Carbon Fiber Reinforced Plastic (Injection and Compression Moulding) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Carbon Fiber Reinforced Plastic (Injection and Compression Moulding) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Carbon Fiber Reinforced Plastic (Others) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Carbon Fiber Reinforced Plastic (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Carbon Fiber Reinforced Plastic (Aerospace & Defense) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Carbon Fiber Reinforced Plastic (Aerospace & Defense) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Carbon Fiber Reinforced Plastic (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Carbon Fiber Reinforced Plastic (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Carbon Fiber Reinforced Plastic (Wind Energy) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Carbon Fiber Reinforced Plastic (Wind Energy) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Global: Carbon Fiber Reinforced Plastic (Civil Engineering) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Global: Carbon Fiber Reinforced Plastic (Civil Engineering) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Global: Carbon Fiber Reinforced Plastic (Sporting Goods) Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Global: Carbon Fiber Reinforced Plastic (Sporting Goods) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Global: Carbon Fiber Reinforced Plastic (Electrical and Electronics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Global: Carbon Fiber Reinforced Plastic (Electrical and Electronics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Global: Carbon Fiber Reinforced Plastic (Marine applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Global: Carbon Fiber Reinforced Plastic (Marine Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Global: Carbon Fiber Reinforced Plastic (Others) Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Global: Carbon Fiber Reinforced Plastic (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: North America: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: North America: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: United States: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: United States: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Canada: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Canada: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Asia Pacific: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Asia Pacific: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: China: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: China: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Japan: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Japan: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: India: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: India: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: South Korea: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: South Korea: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Australia: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Australia: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Indonesia: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Indonesia: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Others: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Others: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Europe: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Europe: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Germany: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Germany: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: France: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: France: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: United Kingdom: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: United Kingdom: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Italy: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Italy: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Spain: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Spain: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Russia: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Russia: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Others: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Others: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Latin America: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Latin America: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 85: Brazil: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 86: Brazil: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 87: Mexico: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 88: Mexico: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 89: Others: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 90: Others: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 91: Middle East and Africa: Carbon Fiber Reinforced Plastic Market: Sales Value (in Million US$), 2017 & 2022
Figure 92: Middle East and Africa: Carbon Fiber Reinforced Plastic Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 93: Global: Carbon Fiber Reinforced Plastic Industry: SWOT Analysis
Figure 94: Global: Carbon Fiber Reinforced Plastic Industry: Value Chain Analysis
Figure 95: Global: Carbon Fiber Reinforced Plastic Industry: Porter’s Five Forces Analysis


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