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Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market Size (2024 - 2029)

The carbon fiber reinforced thermoplastic composite market is anticipated to experience growth driven by increasing demand from the construction sector, despite challenges such as raw material availability and price volatility. The development of floating wind turbines presents a significant opportunity for market expansion. North America holds the largest market share and is expected to maintain its leading position. Polyacrylonitrile is the predominant raw material, projected to continue its dominance throughout the forecast period.

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Market Size of Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Industry

Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market Size
Study Period 2019 - 2029
Market Volume (2024) 212.97 kilotons
Market Volume (2029) 320.68 kilotons
CAGR (2024 - 2029) 8.53 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market 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 212.97 kilotons in 2024, and is expected to reach 320.68 kilotons by 2029, growing at a CAGR of 8.53% during the forecast period (2024-2029).

  • 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 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 (CFRTP) Composite Market Size Summary

The carbon fiber reinforced thermoplastic composite market is poised for significant growth, driven primarily by increasing demand from the construction sector. Despite challenges such as the volatility and limited availability of raw materials, the market is expected to benefit from innovations like floating wind turbines, which present new growth opportunities. North America currently holds the largest market share and is anticipated to maintain its dominance throughout the forecast period. This is largely due to the region's robust aerospace industry, with major aircraft manufacturers like Boeing ramping up production of single-aisle airplanes, alongside a surge in residential building construction in the United States.

Polyacrylonitrile (PAN) is the leading raw material in this market, favored for its superior properties over petroleum pitch, and is expected to continue its dominance. PAN-based CFRTP composites are widely used across various industries, including aerospace, automotive, construction, and sports equipment, driven by rising demand from these end-user sectors. The market is moderately fragmented, with key players such as TORAY INDUSTRIES, INC., BASF SE, Solvay, SABIC, and Celanese Corporation playing significant roles. These companies are instrumental in shaping the competitive landscape and driving innovation within the market.

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Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand From the Construction Sector

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Issues Related to Availability and Volatile Prices of Raw Materials

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value-chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 By Raw Material

      1. 2.1.1 Polyacrylonitrile (PAN)-Based CFRTP

      2. 2.1.2 Pitch-Based CFRTP

      3. 2.1.3 Other Raw Materials

    2. 2.2 By Resin

      1. 2.2.1 Polyether Ether Ketone (PEEK)

      2. 2.2.2 Polyurethane (PU)

      3. 2.2.3 Polyethersulfone (PES)

      4. 2.2.4 Polyetherimide (PEI)

      5. 2.2.5 Other Resins

    3. 2.3 By End-user Industry

      1. 2.3.1 Aerospace and Defense

      2. 2.3.2 Automotive

      3. 2.3.3 Construction

      4. 2.3.4 Electrical and Electronics

      5. 2.3.5 Marine

      6. 2.3.6 Sports Equipment

      7. 2.3.7 Wind Turbines

      8. 2.3.8 Other End-user Industries

    4. 2.4 By Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 ASEAN Countries

        6. 2.4.1.6 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle East and Africa

Carbon Fiber Reinforced Thermoplastic (CFRTP) Composite Market Size FAQs

The Carbon Fiber Reinforced Thermoplastic Composite Market size is expected to reach 212.97 kilotons in 2024 and grow at a CAGR of 8.53% to reach 320.68 kilotons by 2029.

In 2024, the Carbon Fiber Reinforced Thermoplastic Composite Market size is expected to reach 212.97 kilotons.

CFRTP Composite Market Report Snapshots

Carbon Fiber Reinforced Thermoplastic Composite Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)