PUBLISHER: Grand View Research | PRODUCT CODE: 1814179
PUBLISHER: Grand View Research | PRODUCT CODE: 1814179
The global carbon fiber reinforced plastic market size was estimated at USD 19.27 billion in 2024 and is projected to reach USD 43.66 billion by 2033, growing at a CAGR of 9.2% from 2025 to 2033. Increasing demand for carbon fiber reinforced plastic (CFRP) from the automotive and aerospace industries, growing need for fuel-efficient vehicles, and government regulations to curb vehicular pollution are expected to drive market growth.
The rise in demand for lightweight vehicles is projected to propel market growth in the coming years. Numerous government organizations, coupled with the favorable regulatory framework, facilitated the manufacturers to invest and enhance the research and development capabilities, quality, and automation in the process.
Carbon fiber reinforced plastic is transitioning from a niche high-performance material to a broader industrial technology as manufacturers blend technical innovation with scale economics. Investment is shifting toward automation in preform layup, automated fiber placement, and faster cure technologies to reduce cycle time and improve repeatability. At the same time, value chain participants are pursuing vertical integration and localized production to shorten lead times and respond to OEM qualification needs. This movement is enabling new applications beyond traditional aerospace and sporting goods into larger volumes segments such as automotive and wind energy.
Global Carbon Fiber Reinforced Plastic Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global carbon fiber reinforced plastic market report based on product, material, application, and region: