| Study Period | 2019 - 2030 |
| Market Volume (2025) | 231.14 kilotons |
| Market Volume (2030) | 348.03 kilotons |
| CAGR | 8.53 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market Analysis
The Carbon Fiber Reinforced Thermoplastic Composite Market size is estimated at 231.14 kilotons in 2025, and is expected to reach 348.03 kilotons by 2030, at a CAGR of 8.53% during the forecast period (2025-2030).
- One of the major factors driving the market is the growing demand from the construction sector.
- However, lack of availability and volatility of raw materials are likely to hinder the growth of the market studied.
- The innovation of floating wind turbines is expected to provide a major growth opportunity for the market studied.
- North America accounted for the highest share of the market and is likely to continue dominating the market during the forecast period.
Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market Trends
Polyacrylonitrile (PAN) Raw Material Type to Dominate the Market
- Due to its exceptional properties, polyacrylonitrile (PAN) surpasses petroleum pitch in popularity as the primary raw material for manufacturing CFRTP composites. PAN serves as the precursor polymer for the carbon filament in CFRTP production.
- PAN plays a pivotal role in CFRTPs, serving as the structural backbone for carbon fibers. This key function allows for the production of composites that are not only lightweight but also exceptionally strong.
- PAN is transformed into carbon fibers through a series of processes: stabilization, carbonization, and occasionally graphitization. These processes entail heating the PAN fibers under controlled conditions, modifying their chemical structure, and yielding fibers that are predominantly made up of carbon atoms.
- To create CFRTP, PAN-derived carbon fibers such as polypropylene, polyamide, or PEEK are embedded in a thermoplastic matrix. This thermoplastic matrix not only binds the carbon fibers but also imparts shape and enhances the composite's durability.
- Industries such as aerospace, automotive, sports equipment, and industrial machinery rely on CFRTPs for high-performance applications that require lightweight yet strong materials. An increase in the demand and production of aircraft is expected to fuel the demand for carbon fiber-reinforced thermoplastic composite.
- According to the Boeing Commercial Outlook 2023-2042, with a resurgence in international traffic and domestic air travel back to pre-pandemic levels, the company projected global demand for 48,575 new commercial jets by 2042.
- Airbus, a leading aircraft manufacturer, has many assembly plants in China, which boosts aircraft parts production in the country. Airbus signed a next-phase partnership contract with China in 2023. Under this agreement, the company agrees to allocate 160 aircraft to China Airlines and expand its Tianjin production capacity by almost 100%.
- Further, rising needs from sectors like construction and sports equipment are propelling the demand for CFRTP, specifically those based on PAN.
- Hence, owing to the above-mentioned factors, PAN is expected to witness significant demand in the market during the forecast period.
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North America to Dominate the Market
- North America is expected to witness strong growth for CFRTP owing to the growing demand from major aircraft producers, such as Boeing and others.
- Boeing has been increasing its production of single-aisle airplanes in North America, which is likely to drive the market studied in the region.
- According to the Federal Aviation Administration (FAA), boosted by the sharp recovery in demand for air travel and cargo, the number of aircraft in the commercial fleet grew by 0.2% during 2022-2023. Additionally, US airline enplanements are estimated to grow 2.4% per year over the next 20 years to USD 1.32 trillion in 2044 compared to USD 922 billion in 2023, with the US mainline jet fleet to grow from 4,832 in 2023 to 6,894 in 2044.
- The total number of commercial aircraft is expected to increase from 6,852 in 2022 to 10,286 in 2043, with an average growth rate of 2.0% annually. Between 2022 and 2043, the number of jets in the mainline carrier fleet is forecasted to grow from 3,915 to 5,925, a net average of 96 aircraft annually. The cargo carrier’s large jet aircraft fleet is forecasted to increase from 935 in 2022 to 1,974 in 2043.
- Canada has a well-established aircraft component manufacturing industry. Some key companies operating in the Canadian aerospace industry are Bombardier and Bell Helicopter Textron Canada. The Canadian aerospace industry maintained its first position in R&D ranking among all Canadian manufacturing industries in 2022, investing USD 683 million in research and development.
- Additionally, the growing building and construction industry in the United States is expected to drive the demand for CFRTP in the region.
- According to the US Census Bureau, the annual value for construction in the United States accounted for USD 1,978.7 billion in 2023, an increase of about 7.03% compared to 2022.
- According to the US Census Bureau, the value of private construction in 2023 stood at USD 1,541.0 billion, 4.7% (± 1.2%) higher than the USD 1,472.4 billion in 2022. Residential construction spending in 2023 was USD 864.9 billion, up 5.8% (±2.1%) from USD 917.9 billion in 2022, while non-residential construction spending accounted for USD 676.0 billion, up 21.9% (±1.2%) from USD 554.5 billion in 2022.
- One of the major commercial projects is the construction of West Henderson Hospital in South Carolina, which is expected to be completed in Q2 2024. This project involves the construction of a 28,912.44 m2, 128-bed hospital, which started in Q1 2022. Similarly, in the same area, the construction of the BMW Group supplier EV plant started in December 2022.
- Hence, owing to the above-mentioned trends in end-user industries, North America is likely to dominate the market during the forecast period.
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Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Industry Overview
The carbon fiber reinforced thermoplastic (CFRTP) composite market is moderately fragmented as the market share is divided between many players. The major players (not in any particular order) include TORAY INDUSTRIES INC., BASF SE, Solvay, SABIC, and Celanese Corporation.
Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market Leaders
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TORAY INDUSTRIES, INC.
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Celanese Corporation
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Solvay
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BASF SE
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SABIC
- *Disclaimer: Major Players sorted in no particular order
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Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market News
The recent developments pertaining to the major players in the market are being covered in the complete study.
Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Industry Segmentation
Carbon fiber-reinforced thermoplastic composites are composed of two primary elements: a reinforcement and a matrix. Carbon fiber serves as the reinforcement in CFRP, lending it its robustness. Meanwhile, the matrix, typically a thermosetting plastic-like polyester resin, acts as the binding agent for these reinforcements. These composites boast remarkable traits, including a superior strength-to-weight ratio, heightened wear resistance, and exceptional stiffness. These attributes not only surpass those of traditional materials like metals but also render them indispensable in a wide array of industrial settings.
The carbon fiber-reinforced thermoplastic composite market is segmented by raw material, resin, end-user industry, and geography. By raw material, the market is segmented into polyacrylonitrile (PAN)-based CFRTP, pitch-based CFRTP, and other raw materials. By resin, the market is categorized into polyether ether ketone (PEEK), polyurethane (PU), polyethersulfone (PES), polyetherimide (PEI), and other resins. By end-user industry, the market is segmented into aerospace and defense, automotive, construction, electrical and electronics, marine, sports equipment, wind turbines, and other end-user industries. The report also covers the market size and forecasts for the carbon fiber-reinforced thermoplastic composite market for 27 major countries. For each segment, the market sizing and forecasts are done in terms of value (USD).
| By Raw Material | Polyacrylonitrile (PAN)-Based CFRTP | ||
| Pitch-Based CFRTP | |||
| Other Raw Materials | |||
| By Resin | Polyether Ether Ketone (PEEK) | ||
| Polyurethane (PU) | |||
| Polyethersulfone (PES) | |||
| Polyetherimide (PEI) | |||
| Other Resins | |||
| By End-user Industry | Aerospace and Defense | ||
| Automotive | |||
| Construction | |||
| Electrical and Electronics | |||
| Marine | |||
| Sports Equipment | |||
| Wind Turbines | |||
| Other End-user Industries | |||
| By Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| ASEAN Countries | |||
| Rest of Asia-Pacific | |||
| North America | United States | ||
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Italy | |||
| Rest of Europe | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
| Middle East and Africa | Saudi Arabia | ||
| South Africa | |||
| Rest of Middle East and Africa | |||
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Carbon Fiber Reinforced Thermoplastic Composite Market Research FAQs
How big is the Carbon Fiber Reinforced Thermoplastic Composite Market?
The Carbon Fiber Reinforced Thermoplastic Composite Market size is expected to reach 231.14 kilotons in 2025 and grow at a CAGR of 8.53% to reach 348.03 kilotons by 2030.
What is the current Carbon Fiber Reinforced Thermoplastic Composite Market size?
In 2025, the Carbon Fiber Reinforced Thermoplastic Composite Market size is expected to reach 231.14 kilotons.
Who are the key players in Carbon Fiber Reinforced Thermoplastic Composite Market?
TORAY INDUSTRIES, INC., Celanese Corporation, Solvay, BASF SE and SABIC are the major companies operating in the Carbon Fiber Reinforced Thermoplastic Composite Market.
Which is the fastest growing region in Carbon Fiber Reinforced Thermoplastic Composite Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Carbon Fiber Reinforced Thermoplastic Composite Market?
In 2025, the North America accounts for the largest market share in Carbon Fiber Reinforced Thermoplastic Composite Market.
What years does this Carbon Fiber Reinforced Thermoplastic Composite Market cover, and what was the market size in 2024?
In 2024, the Carbon Fiber Reinforced Thermoplastic Composite Market size was estimated at 211.42 kilotons. The report covers the Carbon Fiber Reinforced Thermoplastic Composite Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Carbon Fiber Reinforced Thermoplastic Composite Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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CFRTP Composite Industry Report
Statistics for the 2025 Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
