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CF & CFRP Market

Report Code CH 2794
Published in Jul, 2025, By MarketsandMarkets™
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CF & CFRP Market by Precursor Type (PAN, Pitch), Source, Resin Type, Manufacturing Process (Lay-Up, Compression Molding, Resin Transfer Molding, Filament Winding, Injection Molding, Pultrusion), End-use Industry, and Region - Forecast to 2030

Overview

The CFRP market is projected to reach USD 35.55 billion in 2030 from USD 22.48 billion in 2025, at a CAGR of 9.6%. The market for CF & CFRP is expanding significantly due to the growing demand for high-performance lightweight applications, advancements in manufacturing processes, and the development of large-scale infrastructure projects. CF & CFRP is widely used in the aerospace & defense, automotive, wind energy, sporting goods, pipe & tank, civil engineering, marine, medical, and electrical & electronics industries. In the aerospace & defense industry, CFRP is primarily used for manufacturing wings, fuselages, and radomes to improve fuel efficiency and reduce carbon emissions. The demand for CF & CFRP is also rapidly growing in the wind energy sector and sporting goods due to the increase in new wind turbine installations in various regions and the demand for lightweight and durable sports equipment, including tennis racquets and bicycles.

CF & CFRP Market

Attractive Opportunities in the CF & CFRP Market

North America

CFRP market growth in North America can be attributed to robust manufacturing base, strong investment in research & development, and the presence of leading aerospace and automotive companies.

Growing demand from end-use industries such as aerospace & defense, automotive, sporting goods, and wind energy is driving the CF & CRRP market.

Growing government investments and initiatives to adopt lightweight and high strength materials is driving the CF & CFRP market.

The CFRP market is expected to reach USD 35.55 billion by 2030, at a CAGR of 9.6% during the forecast period.

Increasing demand for lightweight and high-performance components in aircraft has resulted in a significant rise in the demand for CFRP.

Global CF & CFRP Market Dynamics

DRIVER: Increased use in wind energy industry

Wind turbine blades are key components in wind power generation systems. CF & CFRP are widely used in the structural spar caps of long wind turbine blades. They are used to manufacture wind blades as they reduce the weight of the turbine blade, resulting in increased length, which enables higher electricity generation. CF & CFRP provides the best combination of stiffness, strength, and weight, helping manufacturers to produce larger blades and thus provide higher energy output. Due to its corrosion resistance properties, CF & CFRP have helped the wind energy industry grow by enabling wind turbines to work in the toughest environments.

The European wind energy industry is growing due to stricter environmental regulations. In Europe, two-thirds of the non-nuclear research budget has been allocated to R&D for renewable and energy-efficient systems. Europe has the highest number of onshore wind energy farms, making it the largest carbon fiber for spar caps. In May 2024, Shanghai Petrochemical’s 48K large-tow carbon fiber was utilized by Sany Renewable Energy to manufacture the world’s longest onshore wind turbine blades, each measuring 131 meters. These carbon fiber blades incorporate an all-carbon pultruded main beam, offering superior rigidity and weight reduction compared to traditional glass fiber.

RESTRAINT: High production cost

The high cost of carbon fiber is primarily linked to the expense of raw materials or precursors used in its production. The most commonly used precursor for manufacturing carbon fiber is the exceptionally expensive polyacrylonitrile (PAN), which requires a highly complex and detailed manufacturing process. Carbon fiber production demands specialized equipment and skilled personnel to ensure the material’s quality and consistency. These fibers are then embedded into a matrix to create CFRP, which is essential in industries such as aerospace & defense, automotive, wind energy, and sporting goods due to their strength, lightweight nature, and chemical resistance. However, their production is costly and highly energy-intensive, being up to 14 times more energy-demanding than steel.

In March 2025, researchers at the University of Limerick (UL) developed a groundbreaking method to produce carbon fiber using microwave energy, significantly reducing production costs and environmental impact. The CARBOWAVE project utilizes plasma and microwave heating to convert polymer precursors like polyacrylonitrile (PAN) into carbon fiber, achieving up to a 70% reduction in energy consumption compared to traditional methods.

 

OPPORTUNITY: Increasing demand for fuel-cell electric vehicles (FCEVs)

CF & CFRP are used in manufacturing hydrogen tanks for fuel tanks and mobile pipeline systems. The fuel-cell electric vehicle (FCEV) market is expected to grow rapidly due to stringent eco-friendly regulations emphasizing the use of clean fuel. Countries such as the US, Japan, the UK, and Germany have outlined plans to increase the number of FCEVs in the light-duty, medium-duty, and heavy-duty segments by 2030. Japan was the first country to adopt hydrogen as a clean fuel and aims to become a hydrogen society by that year. However, currently, the majority of the hydrogen fuel in Japan is utilized for combined heat and power units. The country plans to produce 8 million FCEVs by 2030. In Japan, the hydrogen market is projected to grow 56-fold by 2030. In 2023, TOYODA GOSEI Co., Ltd developed advanced high-pressure hydrogen tanks with a three-layered structure: an innermost plastic liner featuring a special molecular design to minimize hydrogen permeation, a middle layer of CFRP for remarkable pressure resistance, and an outer layer of GFRP to safeguard the tank. These innovations in materials, design, and production methods have driven demand for FCEVs.

Similarly, the US aims to achieve a target of 5.3 million units of buses and coaches and 3 million units of forklifts by 2030. Europe has the highest number of hydrogen refueling stations, targeting a market of 3.7 million units of hydrogen-powered FCEVs and 45,000 fuel cell trucks and buses by 2030. South Korea has also developed a roadmap to produce 1.8 million units of FCEVs by 2030. These factors are expected to boost the penetration and demand for hydrogen tanks over the next ten years, presenting significant potential for the growth of the CF & CFRP market.

CHALLENGES: Capital-intensive production and complex manufacturing process

Carbon fiber manufacturing is highly capital-intensive and demands significant investments. New technologies must be developed to produce low-cost carbon fiber and carbon fiber-reinforced plastic for the commercialization of end products. Production and development projects aim to lower the manufacturing costs of carbon fiber products through advanced technologies and process solutions. According to some industry experts, the production process of carbon fiber is more complex and lengthier than that of other alternative products. Developing low-cost and simpler technologies for the commercial production of affordable fiber composites presents a major challenge for governments, research laboratories, and carbon fiber producers globally.

Global CF & CFRP Market Ecosystem Analysis

The CF & CRRP ecosystem analysis involves identifying and analyzing interconnected relationships among various stakeholders, including raw material suppliers, manufacturers, distributors, and end users. The raw material suppliers provide precursors and polymers to CF & CFRP manufacturers. The distributors and suppliers establish contact between the manufacturing companies and end users to streamline the supply chain, increasing operational efficiency and profitability.

CF & CFRP Market
 

By precursor type, the PAN segment will hold the largest market share in 2030.

PAN precursor will account for the largest market share in 2030, as it offers a higher carbon yield and better mechanical properties than pitch precursor. As PAN-based carbon fibers offer high tensile strength, high tensile modulus, and low density, they make them an ideal choice for a wide range of applications in aerospace & defense, wind energy, automotive, and sporting goods industries. They also have the ability to withstand extreme conditions such as high temperatures and stress and are widely used in the aerospace & defense industry to manufacture lightweight aircraft structures. Growing investments in the wind energy sector are further increasing the demand for these lightweight materials. With an increase in wind energy farms, the demand for CF & CFRP has increased for wind turbine blades. Its lightweight nature and high-strength properties help create longer blades that can capture more wind energy, thus improving the performance of wind turbines. Due to its cost-effectiveness and ease of processing, CF & CFRP is gaining acceptance in industries such as pipe & tank, civil engineering, marine, medical, and electrical & electronics.

By resin type, the thermoplastic segment is expected to register the highest CAGR during the forecast period.

The thermoplastic resin type is projected to exhibit the highest growth rate in the CFRP market during the forecast period. Polyamide (PA), polypropylene (PP), and polyether ether ketone (PEEK) are the most commonly utilized thermoplastic resins for CFRP. Polyamide-based CFRPs provide high strength and modulus, fatigue resistance, and excellent corrosion resistance, making them ideal for demanding applications in the aerospace & defense, and automotive industries. Polypropylene-based CFRP offers a lightweight and cost-effective solution with improved chemical resistance and processability. Due to its exceptional mechanical strength, high thermal stability, and chemical resistance, PEEK-based CFRPs are widely used in aerospace components, as they are capable of withstanding the extreme temperatures, pressures, and corrosive environments encountered in flight. These characteristics enhance the appeal of thermoplastic resins for mass production and sustainability manufacturing.

By end-use industry, the aerospace & defense industry holds the largest share in the CFRP market.

The aerospace & defense segment dominates the CF & CFRP market due to the increasing demand for manufacturing lightweight and durable aircraft components. The lightweight nature of CFRP helps reduce the weight of the aircraft and thus lowers the carbon emissions by improving fuel efficiency. Major aircraft manufacturers like Boeing and Airbus incorporate CF & CFRP in their modern airplanes like Boeing 787, and Airbus A350, A380 to create structural components including fuselage, panels, and wings, and thus reducing weight by up to 52%. Recently, in June 2025, Daher, Tarmac Aerosave, and Toray Advanced Composites have launched a collaborative initiative to recycle end-of-life continuous fiber-reinforced thermoplastic composite parts from Airbus A380 aircraft, to develop and validate methodologies for recycling, repurposing, and reprocessing these CFRP materials, extending their useful life and supporting the aerospace industry’s environmental and net zero ambitions.

North America will register the highest growth in the CFRP market during the forecast period.

The North America region dominates the CFRP market, and this trend is expected to continue during the forecast period due to the region's robust aerospace & defense sector, along with the rising demand for electric vehicles. The presence of major aerospace manufacturers like Boeing and Lockheed Martin is likely to drive the demand for CFRP materials to enhance fuel efficiency. Additionally, Hexcel Corporation, as the global leader in advanced material manufacturing in the US, fuels the demand for CFRP in industries such as automotive, aerospace and defense, wind energy, sporting goods, and pipe and tank manufacturing, all of which rely on CFRP for its strength, lightweight properties, and durability. Amid growing environmental concerns, consumers are shifting toward sustainable solutions, which has led to increased demand for electric vehicles. The region is witnessing significant demand for CFRP from the automotive industry for the production of electric vehicles, contributing to improved battery efficiency and vehicle performance. Stringent environmental regulations and expanding government initiatives to reduce carbon emissions have further enhanced the adoption of lightweight materials like CFRP.

HIGHEST CAGR MARKET FROM 2025 TO 2030
US FASTEST-GROWING MARKET IN THE REGION
CF & CFRP Market

Recent Developments of CF & CFRP Market

  • In May 2025, Hexcel Corporation launched a new high-modulus, high-compression unidirectional prepreg named Hy-Bor, that combines advanced resin technology with carbon fibers, and boron fibers. It offers exceptional stiffness and superior compressive strength, making it ideal for demanding aerospace structural applications.
  • In May 2025, Hexcel Corporation entered partnership with JetZero to qualify advanced composite materials for JetZero’s innovative all-wing aircraft design. This collaboration focuses on validating Hexcel’s high-performance carbon fiber prepregs and reinforcements for use in the lightweight, fuel-efficient structures of JetZero’s next-generation blended wing body (BWB) aircraft.
  • In March 2025, Teijin Limited launched its first 36K intermediate modulus carbon fiber, Tenax IMS65 E23 36K, offering a tensile strength of 5,800 MPa and a tensile modulus of 280 GPa, which matches the performance of higher-cost IM carbon fibers. This high-tensile, high-performance fiber is optimized for demanding industrial applications such as pressure vessels.
  • In March 2025, Syensqo and Vartega Inc. announced a technical and commercial collaboration aimed at advancing the circularity of carbon fiber composites. Through this partnership, Vartega will recycle Syensqo’s dry carbon fiber and prepreg waste from its North American sites into high-quality EasyFeed Bundles, which will then be integrated into Syensqo’s ECHO portfolio of carbon fiber-reinforced specialty polymers.

Key Market Players

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Scope of the Report

Report Metric Details
Market size available for years 2022-2030
Base Year Considered 2024
Forecast period 2025-2030
Forecast units Value (USD million) and volume (kiloton)
Segments covered Precursor type, source, resin type, manufacturing process, end-use industry, and region
Geographies covered Europe, North America, Asia Pacific, Middle East & Africa, and Latin America

Key Questions Addressed by the Report

Who are the major companies in the CF & CFRP market? What key strategies have market players adopted to strengthen their market presence?

Major companies include Toray Industries, Teijin Limited, Mitsubishi Chemical Corporation, Hexcel Corporation, Syensqo, SGL Carbon, HS Hyosung Advanced Materials, Zhongfu Shenying, Kureha Corporation, DowAksa, Weihai Guangwei, UMATEX, Jilin Chemical Fiber Group, Jiangsu Hengshen, and China National Bluestar. Key strategies adopted by these players include product launches, acquisitions, and capacity expansions to strengthen their market position.

What are the drivers and opportunities for the CF & CFRP market?

Drivers: Rising demand from the aerospace & defense industry and increased use in electric vehicles (EVs).

Which region is expected to hold the largest market share?

North America is expected to hold the largest share due to the presence of strict environmental regulations, strong aerospace industry, and high investment in CF & CFRP technologies.

What is the projected growth rate of the CFRP market over the next five years?

The CFRP market is projected to grow at a CAGR of 9.6% during the forecast period (in terms of value).

How is the CF & CFRP market aligned for future growth?

The market is rapidly growing and consolidated, with a mix of global and regional players. It is driven by technological advancements, industry-specific regulations, and expanding applications in automotive, aerospace, construction, and more.

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Table of Contents

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TITLE
PAGE NO
INTRODUCTION
1
RESEARCH METHODOLOGY
23
EXECUTIVE SUMMARY
54
PREMIUM INSIGHTS
76
MARKET OVERVIEW
87
  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    DRIVERS
    RESTRAINTS
    OPPORTUNITIES
    CHALLENGES
  • 5.3 PORTER'S FIVE FORCES ANALYSIS
    BARGAINING POWER OF SUPPLIERS
    BARGAINING POWER OF BUYERS
    THREAT OF NEW ENTRANTS
    THREAT OF SUBSTITUTES
    DEGREE OF COMPETITION
  • 5.4 MACROECONOMIC OUTLOOK
  • 5.5 IMPACT OF 2025 US TARIFF - CF & CFRP MARKET
    INTRODUCTION
    KEY TARIFF RATES
    PRICE IMPACT ANALYSIS
    IMPACT ON COUNTRY/REGION*
    - US
    - Europe
    - Asia Pacific
    IMPACTS ON END-USE INDUSTRY
  • 5.6 ECOSYSTEM ANALYSIS: CF & CFRP MARKET
  • 5.7 PRICING ANALYSIS
    AVERAGE SELLING PRICE OF KEY PLAYERS, BY END-USE INDUSTRY, 2024
    AVERAGE SELLING PRICE TREND, BY REGION, 2022-2024
  • 5.8 VALUE CHAIN ANALYSIS
  • 5.9 TRADE ANALYSIS, 2022-2024
    EXPORT SCENARIO
    IMPORT SCENARIO
  • 5.10 TECHNOLOGY ANALYSIS
    KEY TECHNOLOGIES
    - Rapid Integrated Molding Technology
    - Vacuum-assisted Resin Transfer Molding (VARTM)
    - Out of Autoclave Technology
    COMPLIMENTARY TECHNOLOGIES
    - Automated Fiber Placement
    - 3D Printing
  • 5.11 IMPACT OF AI/GENAI ON CF & CFRP MARKET
  • 5.12 KEY STAKEHOLDERS & BUYING CRITERIA
    KEY STAKEHOLDERS IN THE BUYING PROCESS
    BUYING CRITERIA
  • 5.13 PATENT ANALYSIS
  • 5.14 REGULATORY LANDSCAPE
    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    REGULATORY FRAMEWORK IN CF & CFRP MARKET
  • 5.15 KEY CONFERENCES & EVENTS (2025-2026)
  • 5.16 CASE STUDY ANALYSIS
  • 5.17 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS
  • 5.18 INVESTMENT AND FUNDING SCENARIO
CARBON FIBER MARKET, BY SOURCE
114
  • 6.1 INTRODUCTION
  • 6.2 VIRGIN CARBON FIBER
  • 6.3 RECYCLED CARBON FIBER
CARBON FIBER MARKET, BY PRECURSOR TYPE
154
  • 7.1 PAN-BASED CARBON FIBER
    SMALL TOW (<24K)
    LARGE TOW (>24K)
  • 7.2 PITCH-BASED CARBON FIBER
    SMALL TOW (<24K)
    LARGE TOW (>24K)
  • 7.3 RAYON-BASED CARBON FIBER
CFRP MARKET, BY RESIN TYPE
187
  • 8.1 THERMOSETTING CFRP
    EPOXY
    VINYL ESTER
    POLYESTER
    OTHER THERMOSETTING RESINS
  • 8.2 THERMOPLASTIC CFRP
    POLYAMIDE
    POLYPROPYLENE
    PEEK
    OTHER THERMOPLASTIC RESINS
CFRP MARKET, BY MANUFACTURING PROCESS
201
  • 9.1 LAY-UP PROCESS
  • 9.2 COMPRESSION MOLDING PROCESS
  • 9.3 RESIN TRANSFER MOLDING (RTM) PROCESS
  • 9.4 FILAMENT WINDING PROCESS
  • 9.5 INJECTION MOLDING PROCESS
  • 9.6 PULTRUSION PROCESS
  • 9.7 OTHER PROCESSES
CFRP MARKET, BY END-USE INDUSTRY
223
  • 10.1 AEROSPACE & DEFENSE
  • 10.2 WIND ENERGY
  • 10.3 AUTOMOTIVE
  • 10.4 SPORTING GOODS
  • 10.5 PIPE & TANK
  • 10.6 MARINE
  • 10.7 ELECTRICAL & ELECTRONICS
  • 10.8 MEDICAL
  • 10.9 OTHER END-USE INDUSTRIES
CFRP MARKET, BY REGION
267
  • 11.1 INTRODUCTION
  • 11.2 NORTH AMERICA
    CFRP MARKET SIZE IN NORTH AMERICA, BY RESIN TYPE
    CFRP MARKET SIZE IN NORTH AMERICA, BY MANUFACTURING PROCESS
    CFRP MARKET SIZE IN NORTH AMERICA, BY END-USE INDUSTRY
    CFRP MARKET SIZE IN NORTH AMERICA, BY COUNTRY
    - Canada
    - US
  • 11.3 EUROPE
    CFRP MARKET SIZE IN EUROPE, BY RESIN TYPE
    CFRP MARKET SIZE IN EUROPE, BY MANUFACTURING PROCESS
    CFRP MARKET SIZE IN EUROPE, BY END-USE INDUSTRY
    CFRP MARKET SIZE IN EUROPE, BY COUNTRY
    - Germany
    - France
    - UK
    - Spain
    - Italy
    - Russia
    - Rest of Europe
  • 11.4 ASIA-PACIFIC
    CFRP MARKET SIZE IN ASIA-PACIFIC, BY RESIN TYPE
    CFRP MARKET SIZE IN ASIA-PACIFIC, BY MANUFACTURING PROCESS
    CFRP MARKET SIZE IN ASIA-PACIFIC, BY END-USE INDUSTRY
    CFRP MARKET SIZE IN ASIA-PACIFIC, BY COUNTRY
    - China
    - Japan
    - South Korea
    - Taiwan
    - Rest of Asia Pacific
  • 11.5 LATIN AMERICA
    CFRP MARKET SIZE IN LATIN AMERICA, BY RESIN TYPE
    CFRP MARKET SIZE IN LATIN AMERICA, BY MANUFACTURING PROCESS
    CFRP MARKET SIZE IN LATIN AMERICA, BY END-USE INDUSTRY
    CFRP MARKET SIZE IN LATIN AMERICA, BY COUNTRY
    - Brazil
    - Mexico
    - Rest of Latin America
  • 11.6 MIDDLE EAST & AFRICA
    CFRP MARKET SIZE IN MIDDLE EAST & AFRICA, BY RESIN TYPE
    CFRP MARKET SIZE IN MIDDLE EAST & AFRICA, BY MANUFACTURING PROCESS
    CFRP MARKET SIZE IN MIDDLE EAST & AFRICA, BY END-USE INDUSTRY
    CFRP MARKET SIZE IN MIDDLE EAST & AFRICA, BY COUNTRY
    - GCC Country
    - South Africa
    - Rest of Middle East & Africa
COMPETITIVE LANDSCAPE
291
  • 12.1 INTRODUCTION
  • 12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
  • 12.3 MARKET SHARE ANALYSIS, 2024
  • 12.4 REVENUE ANALYSIS, 2022 -2024
  • 12.5 BRAND/PRODUCT COMPARISON
  • 12.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
    STARS
    EMERGING LEADERS
    PERVASIVE PLAYERS
    PARTICIPANTS
    COMPANY FOOTPRINT: KEY PLAYERS, 2024
    - Company Footprint
    - Region Footprint
    - Source Footprint
    - Precursor Footprint
    - Resin Type Footprint
    - Manufacturing Process Footprint
    - End-Use Industry Footprint
  • 12.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
    COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024
    - Detailed List of Key Startups/SMEs
    - Competitive Benchmarking of Key Startups/SMEs
  • 12.8 COMPANY VALUATION AND FINANCIAL METRICS
  • 12.9 COMPETITIVE SCENARIO
    PRODUCT LAUNCHES
    DEALS
    EXPANSIONS
COMPANY PROFILES
311
  • 13.1 MAJOR COMPANIES
    TORAY INDUSTRIES, INC.
    TEIJIN LIMITED
    MITSUBISHI CHEMICAL HOLDINGS CORPORATION
    HEXCEL CORPORATION
    SOLVAY
    SGL CARBON
    HYOSUNG ADVANCED MATERIALS
    ZHONGFU SHENYING CARBON FIBER CO., LTD.
    KUREHA CORPORATION
    DOWAKSA
    JILIN CHEMICAL FIBER GROUP CO., LTD.
    JIANGSU HENGSHEN CO., LTD.
    ANSHAN SENODA CARBON FIBER CO., LTD.
    CHINA NATIONAL BLUESTAR (GROUP) CO., LTD.
  • 13.2 OTHER COMPANIES
    WEIHAI GUANGWEI COMPOSITE MATERIALS CO., LTD.
    UMATEX GROUP
    TAEKWANG INDUSTRIAL CO., LTD.
    GEN 2 CARBON
    DALIAN XINGKE CARBON FIBER CO., LTD.
    NIPPON GRAPHITE FIBER CORPORATION
    CHANGZHOU JLON COMPOSITE CO., LTD.
    MALLINDA, INC.
    BCIRCULAR
    VARTEGA INC.
    JILIN TANGU CARBON FIBER CO., LTD.
    FANGDA CARBON NEW MATERIAL CO., LTD.
    WUXI GDE TECHNOLOGY CO., LTD.
    SINOFIBERS TECHNOLOGY CO., LTD.
    JILIN JIYAN HIGH-TECH FIBERS CO., LTD
APPENDIX
323

 

The study involves two major activities to estimate the current market size for the CF & CFRP market. Extensive secondary research was conducted to gather information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts throughout the value chain via primary research. Both top-down and bottom-up approaches were utilized to estimate the overall market size. Following that, market breakdown and data triangulation were applied to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to for this research study include financial statements of companies offering CF & CFRP and information from various trade, business, and professional associations. Secondary research has been used to obtain critical information about the industry’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. The secondary data was collected and analyzed to arrive at the overall size of the CF & CFRP market, which was validated by primary respondents.

Primary Research

Extensive primary research was conducted after gathering information about the CF & CFRP market scenario through secondary research. Several primary interviews were held with market experts from both the demand and supply sides across major regions, including North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Primary data was collected through questionnaires, emails, and phone interviews. The primary sources from the supply side included various industry experts, such as chief experience officers (CXOs), vice presidents (VPs), business development or marketing directors, product development or innovation teams, relevant key executives from the CF & CFRP industry, system integrators, component providers, distributors, and key opinion leaders. Primary interviews aimed to gather insights such as market statistics, revenue data from products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also provided an understanding of the various trends related to precursor type, source, resin type, manufacturing process, end-use industry, and region. Stakeholders from the demand side, including CIOs, CTOs, CSOs, and installation teams of customers or end users seeking CF & CFRP services, were interviewed to gain insight into the buyer’s perspective on suppliers, products, component providers, and their current usage of CF & CFRP, as well as the future outlook of their business that will impact the overall market.

Breakup of Primary Research:

CF & CFRP Market

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Market Size Estimation

The research methodology used to estimate the size of the CF & CFRP market includes the following details. The market sizing was undertaken from the demand side. The market was upsized based on the demand for CF & CFRP in different end-use industries at the regional level. Such procurements provide information on the demand aspects of CF & CFRP for each end-use industry. For each end-use industry, all possible segments of the CF & CFRP market were integrated and mapped.

CF & CFRP Market

Data Triangulation

After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.

Market Definition

CFRP materials are made from two or more different materials (such as carbon fibers and matrix materials). In CFRP, carbon fibers are used as reinforcement materials, and resins such as thermoset and thermoplastic are used as matrix materials. These materials offer an excellent strength and stiffness-to-density ratio and have other physical properties. They are used in various end-use industries, such as aerospace and defense, wind energy, sports goods, and pipes and tanks.

Stakeholders

  • CF & CFRP Manufacturers
  • CF & CFRP Distributors and Suppliers
  • Universities, Governments, and Research Organizations
  • Associations and Industrial Bodies
  • R&D Institutes
  • Environmental Support Agencies
  • Investment Banks and Private Equity Firms
  • Research and Consulting Firms

Report Objectives

  • To define, describe, and forecast the CF & CFRP market size in terms of volume and value
  • To provide detailed information regarding the key factors, such as drivers, restraints, opportunities, and challenges influencing the market growth
  • To analyze and project the global CF & CFRP market by precursor type, source, resin type, manufacturing process, end-use industry, and region
  • To forecast the market size concerning five main regions (along with country-level data), namely, North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America, and analyze the significant region-specific trends
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions of the submarkets to the overall market
  • To analyze the market opportunities and the competitive landscape for stakeholders and market leaders
  • To assess recent market developments and competitive strategies, such as agreements, contracts, acquisitions, and product developments/product launches, to draw the competitive landscape
  • To strategically profile the key market players and comprehensively analyze their core competencies

 

Previous Versions of this Report

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Published in May, 2023, By MarketsandMarkets™

CF & CFRP Market by Source (Virgin, Recycled), Precursor (PAN, Pitch, Rayon), Resin (Thermosetting, Thermoplastic), Manufacturing Process, End-use Industry, and Region - Global Forecast to 2025

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Published in Jan, 2011, By MarketsandMarkets™
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