Carbon Fiber Reinforced Plastic Market size was at USD 29.66 billion in 2025 and is expected to rise to a value of USD 49.98 billion in 2032 with a CAGR of 12.22% during the forecast period 2025-2032 according to the new analysis by Global Industry Hub.

Increasing Demand from the Aerospace Industry

Composites can be defined as a composite of two parts: matrix and reinforcement. The matrix is polymer resin, and the reinforcement is carbon fibre that provides high strengths to the material.

The aerospace industry focuses more on performance improvement, so it uses the CFRP material to replace metals and alloys since it has a very high strength-to-weight ratio and rigidity.

Incremental composites demand in the automobile industry will be one of the critical driving factors that will remain towards the global CFRP market. The huge number of aerospace applications contributed substantially toward the overall revenue due to the high cost of aerospace grade CFRP. Research and development conducted by the aviation industry in the manufacturing of components that can withstand high environmental stresses are expected to significantly fuel the CFRP market growth during the next 10 years.

Extensive R&D activities, especially in Europe and, Japan have resulted in the establishment of several market players, which is likely to drive regional market demand. Increasing CFRP demand in sports applications, particularly within the Asia Pacific region, is also expected to propel CFRP consumption.

Acquire significant industry insights divided into B2B and B2C behaviour from our 345 pages with 175 market data tables and 100 figures & charts from the report, “Carbon Fiber Reinforced Plastic Market Size Growth- By Material (PAN-based, Pitch-based), By Product (Thermosetting CFRP, Thermoplastic CFRP), By Application (Automotive, Aerospace, Wind Turbines, Sport Equipment, Molding & Compounding, Construction, Pressure Vessels and Others), and By Region: Statistics Reports, Supply & Demand Analysis, Global Opportunity 2025-2032” in detail along with the table of contents:

https://www.globalindustryhub.com/industry-report/carbon-fiber-reinforced-plastic-market

Although CFRP offers superb advantages of excellent strength along with lesser weight, its expensive nature has restricted its use to certain high-performance applications only. Although CFRP offers considerable advantages, the high cost associated with the same is a challenge for the market across various other application segments.

PAN precursor is likely to capture some of the market shares over the forecast period and is expected to hold around 95% of the total demand in 2025. PAN has gained popularity on account of its superior properties over pitch precursor. Lower cost of PAN as compared to pitch-based CFRP is also likely to stimulate the industry growth.

Carbon Fiber Reinforced Plastic Market Companies

Key companies operating within the carbon fiber reinforced plastic industry are: White Lily Foods Company, King Arthur Flour, Farmer Ground Flour, Barton Springs Mill, Bob's Red Mill, Hayden Flour Mills, Arrowhead Mills, Gold Medal, Pillsbury, Ardent Mills, Bay State Milling Company, Central Milling Company, Hometown Food Company, Hopkinsville Milling Company, Swiss Bake Ingredients, Wilkins Rogers.

It is believed that the use of thermoplastic CFRP would be driven by the benefit it provides over thermosetting composites-such as short processing times, impact resistance, storage ease, and recyclability.