Materials and Chemicals

Carbon Fiber Reinforced Plastic (CFRP) Market by Raw Material (Polyacrylonitrile, Petroleum pitch, and Others), Type of Resin (Epoxy, Polyester, Vinyl, Polyether Ether Ketone, Polyurethane, Polypropylene and Others); Manufacturing Process (Prepreg Layup, Pultrusion and Winding, Wet Lamination & Infusion, Press and Injection, Others) and End User (Automobile, Building & Construction, Aerospace, Defense, Electronics, and Others) - Global Opportunity Analysis and Industry Forecast, 2014 - 2022

  • ALL673721
  • 151 Pages
  • September 2016
  • Materials and Chemicals

Carbon fiber reinforced plastics (CFRP) are strong, lightweight composite materials that are used in different industries to manufacture various products. CFRPs consist of a matrix and a reinforcement, and are majorly employed to replace metals in various applications. The matrix comprises thermosetting or thermoplastic resin, and carbon fiber acts as the structural reinforcement. CFRPs have 10 times more strength as compared to steel, and weighs approximately five times less than steel. CFRP is ideal for industrial use owing to its properties such as impact resistance, strength, stiffness, flexibility, and ability to carry loads. The emergence of CFRP products addresses the impact of fuel on our environment as lightweight vehicles require less fuel consumption. CFRP products are used to develop aerospace & automobile components, plates for building construction, protective helmets, imaging equipment structures, and tennis racquets. They can be also used as a chemical purifier or water purifier, as carbon is a powerful absorbent.

The CFRP market is expected to reach $20,284 million by 2022 from 2015 value of $ 11,781 million, growing at CAGR of 8.1% from 2016 to 2022. The demand for CFRP materials in the aerospace & defense and automotive sectors are driving the market. Requirement of CFRP in other sectors such as electronics, leather & textiles, defense, and building & constructions are also contributing to further market growth. The huge investment in CFRP R&D led to an increase in the number of patents. Polyacrylonitrile (PAN)-based raw material is majorly used for CFRP production. The CFRP market is expected to register substantial growth in the near future, owing to the need for collaborations, mergers, and acquisitions. However, high cost and conductivity are anticipated to restrain the growth of this market. Conductivity of CFRP materials restrict its use with glass fiber as the latter is a good insulator.

The report segments the CFRP market on the basis of raw material, type, manufacturing process, application, and geography. Based on raw material, it is divided into PAN, petroleum pitch, and others that include rayon and coal tar pitch. Based on type, it is bifurcated into thermosetting and thermoplastic. Thermosetting is further sub-divided into epoxy resin, polyester resin, vinyl resin, and others; and thermoplastic is further segmented into polyether ether ketone (PEEK), polyurethane, polyethersulfone (PES), polyetherimide (PEI), and others. Based on different manufacturing processes, the market is classified into prepreg layup, pultrusion & winding, wet lamination & infusion, press & injection, and others. According to application, it is categorized into aerospace & defense, wind turbines, sports equipment, automotive, molding compounds, building & construction and others. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.

Key players profiled in this report include

  • Cytec Industries Inc. (U.S.)
  • DowAksa Advanced Composites Holdings B.V. (Turkey)
  • Formosa Plastics Corporation (U.S.)
  • Hexcel Corporation (U.S.)
  • Jiangsu Hengshen Fibre Material Co., Ltd. (China)
  • Mitsubishi Rayon Co., Ltd (Japan)
  • SGL Carbon SE (Germany)
  • Teijin Limited. (Japan)
  • Toray Industries, Inc. (Japan)
  • Zhongfu Shenying Carbon Fiber Co., Ltd. (China).


  • This report provides a quantitative analysis of the world CFRP market from 2014 to 2022, which identifies the dominant market opportunities.
  • This report presents an extensive analysis of the current trends and emerging market estimations and dynamics.
  • Major countries in each region are mapped according to the individual market revenue.
  • Comprehensive analysis of factors that drive and restrict the market growth is provided.
  • The study also assists in understanding an in-depth analysis of current research and clinical developments along with the major dynamic factors.
  • Key players within the CFRP market are profiled and their strategies are analyzed thoroughly.


By Raw Material

  • Polyacrylonitrile (PAN)
  • Petroleum pitch
  • Others (Rayon, Coal Tar Pitch)

By Type

  • Thermosetting
    • Epoxy resin
    • Polyester resin
    • Vinyl resin
    • Others (Phenolic, Urethane)
  • Thermoplastic
    • Polyether ether ketone (PEEK)
    • Polyurethane (PU)
    • Polyethersulfone (PES)
    • Polyetherimide (PEI)
    • Others (Polypropylene and Polycarbonate)

By Manufacturing Process

  • Prepreg Layup
  • Pultrusion and Winding
  • Wet Lamination & Infusion
  • Press and Injection
  • Others

By Application

  • Aerospace & Defence
  • Wind Turbines
  • Sports Equipment
  • Automotive
  • Molding Compounds
  • Building & Construction
  • Others

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Philippines
    • Rest of Asia-Pacific
    • Brazil
    • South Africa
    • Turkey
    • Others

Company Profiles

  • Cytec Industries Inc.
  • DowAksa Advanced Composites Holdings B.V.
  • Formosa Plastics Corporation
  • Hexcel Corporation
  • Jiangsu Hengshen Fibre Material Co.,
  • Mitsubishi Rayon Co., Ltd
  • SGL Carbon SE
  • Teijin Limited
  • Toray Industries, Inc.
  • Zhongfu Shenying Carbon Fiber Co., Ltd.
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