The Global CFRP/CFRTP Market Is Estimated To Reach 32 Billion US Dollars in 2030

According to market research, the global market for polyacrylonitrile (PAN)-based carbon fiber-reinforced plastics (CFRP) and carbon fiber-reinforced thermoplastics (CFRTP) is expected to grow to 3.58 trillion yen ($32.06 billion) by 2030. This represents a 160% increase in size compared to 2017 and is expected to be primarily driven by aerospace and automotive applications.

Automotive carbon fiber reinforced plastics (CFRP) use carbon fibers to impregnate thermosetting resins and then cure them. Among them, automotive carbon fibers will account for most of the total demand. In the automotive field, the focus on developing autonomous driving technology has delayed the utilization of CFRP and CFRTP. However, the number of mass-produced models using these materials is expected to increase by 2025.

It is predicted that CFRP and CFRTP will gradually be used in automobiles to help improve fuel economy, and as common platforms are established, demand may surge. Overall, the market size of CFRP and CFRTP in the automotive industry is expected to reach 560.5 billion yen by 2030, a 5.6-fold increase from 2017.
In aerospace, CFRP and CFRTP meet a growing number of uses in new aircraft engines, while Airbus SAS and Boeing are ramping up production of airframes made of carbon fiber composites, which account for about 50 percent. It is estimated that demand may grow further.