Global Carbon Fiber-Reinforced Plastics (CFRP) Market - Industry Trends and Forecast to 2028

Global Carbon Fiber-Reinforced Plastics (CFRP) Market, By Raw Material (Polyacrylonitrile (PAN)-based CFRP, Pitch-based CFRP, Rayon-Based, Others), Type (Thermoset, Thermoplastic), Manufacturing Process (Prepreg Layup, Pultrusion and Winding, Wet Lamination and Infusion, Press and Injection, Others), Application (Aerospace and Defense, Wind Turbines, Automotive, Sports Equipment, Building and Construction, Marine, Defense, Electrical and Electronics, Medical, Civil Engineering, Molding Compounds, Others),  Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.

The carbon fiber-reinforced plastics (CFRP) market size is expected to grow at a compound annual growth rate of 8.50% for the forecast period of 2021 to 2028.  Data Bridge Market Research report on carbon fiber-reinforced plastics (CFRP) market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.

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**Segments**

- **By Raw Material**: The CFRP market can be segmented by raw material into polyacrylonitrile (PAN)-based carbon fiber and pitch-based carbon fiber. Polyacrylonitrile-based carbon fiber is widely used due to its superior properties such as high tensile strength and modulus, corrosion resistance, and low thermal expansion. On the other hand, pitch-based carbon fiber offers advantages in terms of cost-effectiveness and high-temperature performance.

- **By Resin Type**: Resins play a crucial role in the CFRP market, and the segments based on resin type include thermosetting and thermoplastic. Thermosetting resins like epoxy and phenolic resins dominate the market due to their excellent mechanical properties, adhesion, and chemical resistance. Thermoplastic resins like polyetheretherketone (PEEK) are gaining popularity as they offer advantages in recyclability and shorter processing time.

- **By Application**: The CFRP market can also be segmented by application into aerospace & defense, automotive, wind energy, sports equipment, construction, and others. The aerospace & defense sector is a significant consumer of CFRP due to the need for lightweight materials to enhance fuel efficiency and performance. The automotive industry is increasingly adopting CFRP to reduce vehicle weight and improve fuel economy, leading to a surge in demand for these materials.

**Market Players**

- **Hexcel Corporation**: Hexcel Corporation is a key player in the CFRP market, offering a wide range of carbon fiber products for various industries. The company focuses on technological advancements and strategic acquisitions to maintain its competitive edge in the market.

- **Teijin Limited**: Teijin Limited is a leading manufacturer of advanced fibers and composites, including CFRP. The company's innovative solutions cater to the aerospace, automotive, and industrial sectors, ensuring high-performance materials for diverse applications.

- **Mitsubishi Chemical Corporation**: Mitsubishi Chemical Corporation is a prominent player in the CFRP marketMitsubishi Chemical Corporation is a prominent player in the CFRP market, leveraging its expertise in advanced materials to cater to various industries such as aerospace, automotive, wind energy, and sports equipment. The company's commitment to research and development has led to the introduction of innovative carbon fiber products with enhanced mechanical properties and light-weight characteristics. Mitsubishi Chemical Corporation focuses on sustainable practices, aiming to reduce the environmental impact of its operations through the development of recyclable CFRP solutions.

In recent years, the demand for CFRP has witnessed significant growth across different sectors, driven by the need for high-performance materials that offer superior strength-to-weight ratios and durability. Industries such as aerospace and defense continue to invest heavily in CFRP technologies to improve fuel efficiency and reduce emissions, thereby creating lucrative opportunities for market players like Mitsubishi Chemical Corporation to expand their product portfolios and strengthen their market presence.

Moreover, the automotive sector has emerged as a key application area for CFRP, with manufacturers increasingly incorporating these materials into vehicle components to enhance performance and fuel economy. Mitsubishi Chemical Corporation's focus on developing cost-effective CFRP solutions aligns with the automotive industry's drive towards lightweighting and sustainability, positioning the company as a preferred supplier of advanced composites.

In the wind energy sector, CFRP is extensively used in turbine blades to withstand harsh environmental conditions and optimize energy generation. Mitsubishi Chemical Corporation's expertise in developing high-strength carbon fibers and resin systems enhances the efficiency and longevity of wind turbines, thereby contributing to the growth of renewable energy sources globally.

Furthermore, the sports equipment industry represents another promising market segment for CFRP, with applications ranging from tennis rackets to bicycles. Mitsubishi Chemical Corporation's innovative materials and manufacturing processes enable the production of high-performance sporting goods that deliver exceptional strength, stiffness, and impact resistance, thereby gaining traction among professional athletes and sports enthusiasts.

In conclusion, Mitsubishi Chemical Corporation's leadership in the CFRP market stems from its relentless focus on innovation, sustainability, and customer-centric approach. By continuously investing in research and development,**Global Carbon Fiber-Reinforced Plastics (CFRP) Market**

- **Segments**

**Raw Material**: The CFRP market exhibits segmentation based on raw materials such as polyacrylonitrile (PAN)-based carbon fiber, pitch-based carbon fiber, Rayon-based, among others. Polyacrylonitrile-based carbon fiber is favored for its exceptional properties like high tensile strength, corrosion resistance, and low thermal expansion, while pitch-based carbon fiber offers cost-effectiveness and high-temperature performance.

**Resin Type**: Resins play a pivotal role in the CFRP market, with segmentation based on thermosetting and thermoplastic resins. Thermosetting resins like epoxy and phenolic resins dominate the market due to their superior mechanical properties, adhesion, and chemical resistance. On the other hand, thermoplastic resins such as polyetheretherketone (PEEK) are gaining traction for their recyclability and shorter processing time.

**Application**: The CFRP market can be segmented by application into aerospace and defense, automotive, wind turbines, sports equipment, building and construction, marine, defense, electrical and electronics, medical, civil engineering, molding compounds, among others. Industries like aerospace and defense rely on CFRP for lightweight materials to boost fuel efficiency and performance, while the automotive sector is increasingly adopting CFRP for weight reduction and improved fuel economy.

**Market Players**

- **Hexcel Corporation**: Recognized as a key player in

TABLE OF CONTENTS

Part 01: Executive Summary

Part 02: Scope of the Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Pipeline Analysis

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers and Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

Core Objective of Carbon Fiber-Reinforced Plastics (CFRP) Market:

Every firm in the Carbon Fiber-Reinforced Plastics (CFRP) Market has objectives but this market research report focus on the crucial objectives, so you can analysis about competition, future market, new products, and informative data that can raise your sales volume exponentially.

• Size of the Carbon Fiber-Reinforced Plastics (CFRP) Market and growth rate factors.
• Important changes in the future Carbon Fiber-Reinforced Plastics (CFRP) Market.
• Top worldwide competitors of the Market.
• Scope and product outlook of Carbon Fiber-Reinforced Plastics (CFRP) Market.
• Developing regions with potential growth in the future.
• Tough Challenges and risk faced in Market.
• Global Carbon Fiber-Reinforced Plastics (CFRP) top manufacturers profile and sales statistics.

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