The Carbon Fiber Reinforced Thermoplastic Composite Market Report is Segmented by Raw Material (PAN-Based, Pitch-Based, and More), Resin (PEEK, PU, and More), Manufacturing Process (Compression Molding, AFP/Tape Laying, and More), End-User Industry (Aerospace and Defense, Automotive, and More), and Geography (Asia-Pacific, North America, and More). The Market Forecasts are Provided in Terms of Volume (Kilotons).

According to Cognitive Market Research, The Global Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) market size is USD XX billion in 2023 and will expand at a CAGR of 6.00% from 2023 to 2030.

The demand for Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) s is rising due to the increase in consumer awareness towards pollution fee and efficient vehicles further fosters the demand for the light-weight vehicles which in turn increases the demand for the carbon fiber reinforced thermoplastic (CFRTP) composites in the market.
Demand for Polyacrylonitrile (PAN)-based CFRTP remains higher in the Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) market.
The Automotive category held the highest Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) market revenue share in 2023.
North American Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) makeup will continue to lead, whereas the Asia-Pacific Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) market will experience the most substantial growth until 2030.

Growing Demand for Lightweight Materials to Provide Viable Market Output

The first key driver in the Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) market is the escalating demand for lightweight materials across various industries. CFRTP, with its exceptional strength-to-weight ratio and inherent durability, is witnessing increased adoption in automotive, aerospace, and sporting goods sectors. As industries focus on achieving fuel efficiency, reducing emissions, and enhancing overall performance, the lightweight nature of CFRTP becomes a pivotal driver. Its ability to contribute to structural integrity while minimizing overall weight positions CFRTP as a sought-after solution, fostering innovation in the design and manufacturing of advanced composite materials.

In February 2022, Avient launched the long fiber composites based on nylon, recycled from fishing nets. This product launch offered stiffness, strength, lightweight and sustainability, thereby boosting the demand in the market.

(Source: www.avient.com/avient-launches-long-fiber-composites-based-nylon-reclaimed-end-life-fishing-nets)

Increasing Emphasis on Sustainable Practices to Propel Market Growth

A second significant driver propelling the CFRTP market is the rising emphasis on sustainable practices and eco-friendly materials. CFRTP, derived from materials like Polyacrylonitrile (PAN) or pitch-based sources, offers a more sustainable alternative to traditional materials. As environmental concerns and regulatory pressures mount, industries are actively seeking materials that can meet performance requirements while minimizing the environmental impact. The recyclability and energy efficiency associated with CFRTP contribute to its appeal as a green material. This emphasis on environmental responsibility acts as a key driver, influencing the adoption of CFRTP in diverse applications.

In August 2019, Covestro invested the continuous fiber-reinforced thermoplastic in response to growing demand trends from major end-use industries and customers. The investment aimed to boost the portfolio, fulfill the product demand and offer growth in the industry.

(Source: www.ptonline.com/news/covestro-steps-up-investment-in-thermoplastic-composites)

Market Dynamics of the Carbon Fiber Reinforced Thermoplastic Composites (CFRTP)

High Production Costs and Limited Cost Competitiveness to Restrict Market Growth

One key restraint in the Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) market is the high production costs associated with carbon fibers and the manufacturing process. The production of high-quality carbon fibers involves intricate processes and advanced technologies, leading to elevated costs. As a result, CFRTP materials tend to be more expensive compared to traditional materials, hindering widespread adoption, especially in price-sensitive markets. Limited cost competitiveness poses a challenge, restraining the market's growth potential and impacting the broad-scale integration of CFRTP across various industries.

Impact of COVID-19 on the Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) Market

The COVID-19 pandemic significantly impacted the Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) market. The widespread disruptions caused by the pandemic led to supply chain challenges, production halts, and decrea...

The report on Continuous Fiber-Reinforced Thermoplastic Composites (CFRTP) covers a summarized study of several factors supporting market growth, such as market size, market type, major regions, and end-user applications. The report enables customers to recognize key drivers that influence and govern the market.

Continuous Carbon Fiber Reinforced Thermoplastic Composites Market Outlook

The global market size for Continuous Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) was valued at approximately $1.5 billion in 2023, and it is projected to reach around $3.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 11%. This impressive growth is driven by increasing demand for lightweight and high-strength materials across various industries, coupled with advancements in composite manufacturing technologies.

One of the primary growth factors for the CFRTP market is the rising demand in the aerospace and defense sector. Aerospace manufacturers are increasingly adopting thermoplastic composites due to their superior strength-to-weight ratio, corrosion resistance, and ease of fabrication, which are critical for enhancing fuel efficiency and reducing operational costs. Additionally, the automotive industry is witnessing a significant shift towards lightweight materials to meet stringent emission norms and improve vehicle performance, further propelling the demand for CFRTP.

The sports and leisure industry is also contributing to the growth of the CFRTP market. The need for high-performance, durable, and lightweight materials in the manufacturing of sports equipment, such as bicycles, golf clubs, and tennis rackets, is leading to increased adoption of carbon fiber reinforced thermoplastic composites. The trend towards customization and personalization in sports gear is further augmenting market growth, as CFRTP enables manufacturers to produce complex and tailored designs.

Advancements in manufacturing processes are another key driver for market growth. Innovations in technologies such as compression molding, injection molding, and pultrusion are making the production of CFRTP more efficient and cost-effective. These processes allow for faster production cycles, reduced waste, and the ability to create complex shapes, which are essential for meeting the growing demand across various industries. Moreover, the development of new resin formulations and the integration of automation in manufacturing processes are enhancing the quality and performance of CFRTP products.

In contrast to thermoplastic composites, Thermosetting Carbon Fiber Reinforced Plastic (CFRP) offers distinct advantages in certain applications. Unlike thermoplastics, thermosetting resins cure irreversibly, providing enhanced thermal stability and chemical resistance. This makes them particularly suitable for high-temperature environments and applications requiring long-term durability. Thermosetting CFRP is often used in aerospace components, automotive parts, and industrial equipment where performance under extreme conditions is critical. The ability to maintain structural integrity under stress and heat makes thermosetting CFRP a preferred choice for specific engineering applications.

Regionally, North America holds a significant share of the CFRTP market, driven by the presence of major aerospace and automotive manufacturers, as well as a strong focus on research and development. Europe is also a key market, with substantial investments in advanced materials and a growing emphasis on sustainability. The Asia Pacific region is witnessing rapid growth due to increasing industrialization, urbanization, and the expansion of the automotive and aerospace sectors. Latin America and the Middle East & Africa are emerging markets with potential for growth, supported by infrastructural developments and rising industrial activities.

Resin Type Analysis

The resin type segment in the CFRTP market is crucial as it determines the composite's performance characteristics and suitability for various applications. Polyamide (PA) is one of the most widely used resins in CFRTP, known for its excellent mechanical properties, chemical resistance, and thermal stability. Polyamide composites are extensively utilized in the automotive and aerospace industries for manufacturing components that require high strength and durability. The demand for polyamide-based CFRTP is expected to grow significantly due to its versatility and cost-effectiveness.

Polyether Ether Ketone (PEEK) is another prominent resin type in the CFRTP market. PEEK composites offer exceptional heat resistance, mechanical strength, and chemical resistance, making them ideal for high-performance applications in aerospace, automotive, and medical sectors

The North America Carbon Fiber Reinforced Thermoplastic Composites CFRTP market size will expand at a compound annual growth rate (CAGR) of 5.0% from 2023 to 2030.

The global Carbon Fiber Reinforced Thermoplastic Plastic (CFRTP) market is projected to reach a substantial size by 2033, with an estimated CAGR of 8.5% from 2025 to 2033.

The Carbon Fiber Reinforced Thermoplastic Plastic (CFRTP) market is poised for significant growth, driven by its unique properties that combine the lightweight characteristics of thermoplastics with the strength and stiffness of carbon fibers. Used extensively in industries such as aerospace, automotive, and sportin

The Carbon Fiber Reinforced Thermoplastic (CFRTP) composite market is projected to reach a value of XX million by 2033, expanding at a CAGR of 5.00% over the forecast period. This growth is primarily driven by increasing demand for CFRTPs in the automotive and aerospace industries due to their superior strength-to-weight ratio, corrosion resistance, and thermal stability. Additionally, rising infrastructure development activities in emerging economies and advancements in manufacturing technologies are further fueling market expansion. The automotive sector is a major driver of the CFRTP market, as these composites offer significant weight reduction and improved fuel efficiency in vehicles. The aerospace industry also relies heavily on CFRTPs for lightweight and high-performance aircraft components. Moreover, increasing use of CFRTPs in construction, electrical and electronics, marine, sports equipment, and wind turbines is contributing to the market's growth. Regional analysis reveals that Asia Pacific is expected to hold the largest market share, followed by North America and Europe. Growing demand from key industries in these regions, particularly in the automotive and aerospace sectors, is driving market expansion. Key drivers for this market are: , Increasing Demand From the Construction Sector; Other Drivers. Potential restraints include: , Issues Related to Availability and Volatile Prices of Raw Materials; Other Restraints. Notable trends are: Polyacrylonitrile (PAN) Raw Material Type to Dominate the Market.

Get expert insights on Cfrtp (CARBON FIBER REINFORCED THERMOPLASTIC) Market size, future trends, and business opportunities through 2034. Download the report now.

Carbon Fiber Reinforced Thermoplastic (CFRTP) Market Outlook

According to our latest research, the global Carbon Fiber Reinforced Thermoplastic (CFRTP) market size reached USD 2.34 billion in 2024, demonstrating robust growth driven by expanding applications across automotive, aerospace, and consumer electronics industries. The market is expected to grow at a CAGR of 8.2% from 2025 to 2033, reaching an estimated USD 4.62 billion by 2033. The primary growth factor propelling this expansion is the increasing demand for lightweight and high-strength materials in critical end-use sectors, combined with advancements in thermoplastic resin technology and manufacturing processes.

A significant driver for the CFRTP market is the automotive industry's ongoing pursuit of lightweighting to meet stringent emission regulations and improve fuel efficiency. Automakers are increasingly adopting CFRTP composites due to their superior strength-to-weight ratio, corrosion resistance, and recyclability compared to traditional materials like metals. The integration of CFRTP in structural and semi-structural automotive components, such as body panels, chassis, and interior parts, is reducing vehicle weight and enabling compliance with global environmental standards. Furthermore, the electrification of vehicles is amplifying demand for CFRTP, as electric vehicles (EVs) require lightweight solutions to maximize battery range and performance, further fueling market growth.

Another pivotal growth factor is the aerospace and defense sector's reliance on advanced composites for enhanced performance and cost-effectiveness. CFRTP materials are being increasingly utilized in the production of aircraft fuselage, wings, and interior components due to their excellent impact resistance, fatigue durability, and ease of fabrication. The shift towards thermoplastic matrices in aerospace applications, as opposed to traditional thermoset composites, is accelerating as thermoplastics offer faster processing times, improved toughness, and the potential for recycling. This trend is further supported by investments in innovative manufacturing techniques, such as automated fiber placement and 3D printing, which are expanding the design possibilities and reducing production cycles for CFRTP components.

The consumer electronics segment is also contributing to the CFRTP market's expansion, as manufacturers seek materials that offer both aesthetic appeal and functional benefits. CFRTP's lightweight nature, combined with its high mechanical strength and customizable surface finishes, makes it an attractive choice for smartphone casings, laptop enclosures, and wearable devices. The proliferation of smart devices and the push for slimmer, more durable electronics are driving increased adoption of CFRTP composites. Additionally, the construction and sporting goods industries are recognizing the advantages of CFRTP for applications requiring high performance and design flexibility, further broadening the market's scope.

From a regional perspective, Asia Pacific is emerging as the dominant market for CFRTP, fueled by rapid industrialization, expanding automotive production, and significant investments in aerospace and electronics manufacturing. North America and Europe continue to be strong markets due to their established aerospace and automotive industries, as well as ongoing research and development in advanced composite materials. The Middle East & Africa and Latin America are gradually increasing their market share, supported by infrastructure development and growing demand for high-performance materials. Overall, the CFRTP market's regional dynamics are shaped by a combination of industrial growth, regulatory frameworks, and technological advancements.

Carbon Fiber Reinforced Plastic (CFRP) is a pivotal material in the evolution of lightweight and high-strength composites. Unlike traditional materials, CFRP offers exceptional tensile strength and stiffness while maintaining a low weight, making it ideal for applications in aerospace, automotive, and sports industries. The unique properties of CFRP stem from its composition, which combines carbon fibers with a plastic matrix, providing enhanced durability and resistance to environmental factors. This material is increasingly being

The North American market for carbon fiber reinforced thermoplastic (CFRTP) composites had an estimated value of some **** billion U.S. dollars in 2018. It is forecast to increase to some *** billion U.S. dollars by 2025. CFRTP composites have important applications in the automotive and aerospace sectors because these materials have a lower weight and strong impact strength, among other desirable traits.

The Carbon Fiber Reinforced Thermoplastic (CFRTP) Composites market is experiencing robust growth, driven by increasing demand across diverse sectors like automotive, aerospace, and wind energy. Lightweighting initiatives to improve fuel efficiency and performance are key drivers, along with the inherent advantages of CFRTP, such as high strength-to-weight ratio, design flexibility, and cost-effectiveness compared to traditional materials like steel and aluminum. The market is witnessing a shift towards advanced manufacturing techniques like automated fiber placement (AFP) and tape laying (ATL), enabling faster and more precise production of complex components. This, coupled with ongoing material innovations to enhance mechanical properties and reduce manufacturing costs, is fueling market expansion. While supply chain complexities and raw material price fluctuations pose certain challenges, the long-term outlook remains positive, particularly with the rising adoption of CFRTP in electric vehicles and the burgeoning renewable energy sector. The competitive landscape is marked by a mix of established players like Teijin, Toray Industries, and SABIC, alongside specialized companies focusing on niche applications. Strategic partnerships, mergers, and acquisitions are becoming increasingly common as companies seek to expand their product portfolios and geographical reach. Geographic growth is expected to be particularly strong in Asia-Pacific, fueled by rapid industrialization and substantial investments in infrastructure development. North America and Europe will continue to be significant markets, driven by advancements in aerospace and automotive industries. Over the forecast period (2025-2033), the market is poised for continuous expansion, with a projected CAGR (assuming a reasonable CAGR of 8% based on industry trends) leading to substantial market value growth. This growth will be influenced by factors such as increasing government support for sustainable technologies and continued research and development into high-performance CFRTP materials.

Discover Market Research Intellect's Carbon Fiber Reinforced Thermoplastic Composites Cfrtp Market Report, worth USD 1.5 billion in 2024 and projected to hit USD 4.2 billion by 2033, registering a CAGR of 15.5% between 2026 and 2033.Gain in-depth knowledge of emerging trends, growth drivers, and leading companies.

The global Carbon Fiber Reinforced Thermoplastic (CFRTP) market is experiencing robust growth, driven by increasing demand across diverse sectors. The automotive industry, a major consumer, is adopting CFRTP for lightweighting vehicles to improve fuel efficiency and performance, aligning with global sustainability initiatives. The burgeoning wind turbine industry also presents significant growth opportunities, as CFRTP's high strength-to-weight ratio enhances blade design and energy generation capacity. Construction and sports equipment sectors are further contributing to market expansion, with CFRTP finding applications in durable, high-performance components. Polyacrylonitrile (PAN)-based CFRTP currently dominates the market due to its superior mechanical properties and cost-effectiveness, though pitch-based CFRTP is gaining traction due to its potential for higher strength and reduced manufacturing costs. Key players like DowAksa, Toray Industries, and Hexcel are leading innovation and expanding their production capabilities to meet rising demand, driving competitive advancements and market consolidation. Regional growth varies, with North America and Europe currently holding significant market share, while Asia Pacific, particularly China and India, is expected to witness substantial growth due to expanding manufacturing industries and increasing infrastructure development. Market restraints include the relatively high cost of CFRTP compared to traditional materials and the need for specialized processing techniques, although ongoing research and development efforts are addressing these challenges, paving the way for broader adoption. While precise market size figures for 2025 are unavailable, considering a reasonable global market size of $2 billion in 2025 and a CAGR (Compound Annual Growth Rate) of, say, 8%, a logical projection can be made. This growth is fueled by the aforementioned industry trends and increasing demand for lightweight, high-strength materials. Geographic distribution reflects established manufacturing hubs and emerging markets, resulting in regional disparities. However, emerging economies are likely to experience faster growth rates, changing the regional market share dynamics over the forecast period. The competitive landscape is marked by a mix of large established players and specialized smaller companies. This competitive environment encourages innovation and price competitiveness, furthering market growth. The continued focus on sustainability and the increasing demand for lightweight, high-performance materials will significantly impact CFRTP adoption across various sectors.

Carbon Fiber Reinforced Thermoplastic Plastic (CFRTP) Market Outlook

The Carbon Fiber Reinforced Thermoplastic Plastic (CFRTP) market is witnessing substantial growth, with the global market size projected to expand from USD 2.8 billion in 2023 to approximately USD 6.1 billion by 2032, at a compound annual growth rate (CAGR) of 9.3%. This robust growth is attributed to the increasing demand for lightweight, durable, and high-performance materials across various industries such as automotive, aerospace, and consumer goods. The CFRTP market is being driven by the shift towards sustainable materials and the growing emphasis on reducing the carbon footprint of manufacturing processes. As industries aim to enhance fuel efficiency and reduce emissions, the utilization of CFRTP is becoming more prevalent, thereby fueling its market expansion.

The rising demand for CFRTP in the automotive industry is a significant growth factor for the market. Automakers are increasingly incorporating CFRTP in vehicle manufacturing due to its lightweight nature, which contributes to improved fuel efficiency and reduced emissions. The demand for electric vehicles (EVs) is also on the rise, necessitating the use of lightweight materials such as CFRTP to counterbalance the weight of battery packs. Furthermore, CFRTP offers excellent mechanical properties, including high strength-to-weight ratios and superior impact resistance, making it an ideal choice for automotive applications. The ability of CFRTP to be easily molded into complex shapes and structures without compromising strength further enhances its appeal in the automotive sector, propelling market growth.

The aerospace industry represents another major driver for the CFRTP market. The need for fuel-efficient and lightweight aircraft components is increasing as airlines and aerospace manufacturers strive to improve performance and reduce operational costs. CFRTP materials, with their high strength and low weight, are becoming integral in the design and manufacturing of both commercial and military aircraft. They are used in the production of aircraft interiors, fuselage panels, and other structural components. The inherent resistance to corrosion and ability to withstand extreme environmental conditions make CFRTP a preferred choice for aerospace applications. As the global aerospace industry continues to grow, particularly in regions like Asia Pacific and the Middle East, the demand for CFRTP materials is expected to rise significantly.

The consumer goods sector also contributes to the growing demand for CFRTP, driven by the increasing need for durable yet lightweight materials. High-performance sporting equipment, for example, often utilizes CFRTP to enhance strength and durability without adding excessive weight. Additionally, electronics and household appliances benefit from CFRTP's versatility and aesthetic appeal. As consumers demand more sustainable and durable goods, manufacturers are turning to CFRTP to meet these expectations. This shift towards high-performance and eco-friendly materials in consumer products is further accelerating the market growth for CFRTP.

Long Carbon Fiber Thermoplastic materials are gaining attention for their exceptional mechanical properties and lightweight characteristics. These materials are increasingly being utilized in industries such as automotive and aerospace, where reducing weight without compromising strength is crucial. The integration of long carbon fibers into thermoplastics enhances the material's tensile strength and impact resistance, making it suitable for demanding applications. As manufacturers seek to optimize performance and sustainability, the use of Long Carbon Fiber Thermoplastic is becoming more prevalent. This trend is driven by the need for materials that can withstand high stress and environmental challenges while contributing to overall efficiency and reduced emissions.

Resin Type Analysis

The CFRTP market is segmented by resin type into Polyetheretherketone (PEEK), Polyamide (PA), Polycarbonate (PC), Polyphenylene Sulfide (PPS), and others. Among these, PEEK is a prominent resin type due to its exceptional mechanical properties, chemical resistance, and high thermal stability. PEEK-based CFRTPs are extensively used in aerospace, automotive, and medical applications, where high performance and reliability are paramount. The ability of PEEK to withstand extreme environments and its compatibility with a wide range of manufacturing processes make it a preferred choice.

The Continuous Fiber-reinforced Thermoplastic (CFRTP) Composites market is experiencing robust growth, projected to reach a market size of $1069.1 million in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 7.5% from 2025 to 2033. This significant expansion is driven by several factors. The increasing demand for lightweight yet high-strength materials in automotive, aerospace, and wind energy sectors is a primary catalyst. CFRTP composites offer superior performance compared to traditional materials, leading to improved fuel efficiency in vehicles, enhanced structural integrity in aircraft, and increased energy generation in wind turbines. Furthermore, ongoing advancements in manufacturing processes, including automated fiber placement and tape laying, are contributing to cost reductions and increased production efficiency, making CFRTP composites more accessible across various industries. The development of new resin systems and fiber types further expands the applications and enhances the overall performance of CFRTP components. Key players like Lanxess, Celanese, and TenCate are driving innovation and expanding their product portfolios to capitalize on this burgeoning market. The market segmentation, while not explicitly provided, is likely diverse, encompassing various fiber types (e.g., carbon fiber, glass fiber), resin systems (e.g., polyetheretherketone (PEEK), polyamide), and end-use applications. The regional distribution likely reflects strong growth in North America and Europe due to established manufacturing bases and high adoption rates in key industries. However, Asia-Pacific is anticipated to witness accelerated growth in the forecast period, driven by increasing industrialization and infrastructure development. Despite the optimistic outlook, potential challenges such as the relatively high cost of CFRTP composites compared to traditional materials and the need for specialized manufacturing equipment could act as restraints on market growth. Nevertheless, the long-term growth trajectory remains positive, fueled by ongoing technological advancements and the growing need for lightweight and high-performance materials across diverse industries.

Market Overview:

The global carbon fibre reinforced thermoplastic composites CFRTP market is projected to grow from USD 2.02 Billion in 2022 to USD 5.06 Billion by 2030, at a CAGR of 10.5% from 2022 to 2030. The growth of the market can be attributed to the increasing demand for lightweight and high-performance materials in automotive, wind turbines, construction, sports equipment, and other applications. In addition, the growing awareness about the benefits of CFRTP over traditional materials is also fueling the growth of this market.

Product Definition:

Carbon fibre-reinforced thermoplastic composites (CFRTP) are a type of composite material that uses carbon fibres as the reinforcing agent. The fibres are bonded to a thermoplastic matrix, resulting in a material with high tensile strength and stiffness, and low weight. CFRTP has many applications in the aerospace, automotive, and construction industries.

Polyacrylonitrile (PAN)-Based CFRTP:

Polyacrylonitrile (PAN)-based CFRTPs are a type of insulation made from a polymer that is heated and then injected into the wall of a building. The polymer forms small, airtight cells that protect the underlying structure from heat loss and moisture infiltration. PAN-based insulation is an effective way to reduce energy costs while also protecting against weather damage.

Pitch-Based CFRTP:

Pitch-based CFRTP is a process of manufacturing carbon fibre-reinforced thermoplastic composites (CFRTP) that utilize pitch as the reinforcement material. The major advantage associated with this type of CFRTP is its ability to produce lightweight composite parts with high strength and stiffness by using short, stiff fibres.

Application Insights:

Automotive was the largest application segment in 2019, accounting for over 30% of the total volume. Increasing use of carbon fibre-reinforced thermoplastic Composites In Automotive components such as body structures, hoods and roofs is expected to drive demand over the forecast period. Carbon fibres are used to reinforce plastic and metal parts in various applications including engine covers and mufflers. The increasing use of these materials not only improves performance but also reduces overall weight which further boosts fuel efficiency leading to lower emissions output from vehicles driving through reduced power consumption by automobile engines.

Regional Analysis:

The Asia Pacific is expected to be the fastest-growing region with a revenue-based CAGR of 4.4% from 2022 to 2030. The growth in this region is attributed to rapid industrialization and increasing per capita income levels, which are subsequently leading towards an increase in consumer spending on high-performance sporting goods and vehicles among others. The automotive sector has been one of the major contributors towards carbon fibre-reinforced thermoplastic composites (CFRTP) industry growth owing to its extensive application scope across various industries including aerospace, defence, marine as well as automotive sectors globally. Increasing demand for lightweight materials with superior strength properties will continue driving regional market expansion over the forecast period. North America was valued at USD X million in 2019.

Growth Factors:

• Increasing demand for lightweight and high-performance materials in the automotive and aerospace industries
• Rising awareness about the benefits of CFRTP composites over traditional materials
• Growing investments in research and development activities for the advancement of CFRTP technology
• The proliferation of advanced manufacturing techniques for producing CFRTP composites
• Stringent government regulations mandating the use of lightweight materials in various applications

Report Scope

Carbon Fiber Reinforced Thermoplastic Plastic (CFRTP) Market size was valued at USD 2350.75 million in 2024 and the revenue is expected to grow at a CAGR of 9.2% from 2025 to 2032

The Carbon Fibre Reinforced Thermoplastic (CFRTP) composites market is expected to grow at a CAGR of 4.20% during the period 2025-2034. The market is likely to be driven by uses in sectors such as automobiles and aerospace owing to properties of Carbon Fibre Reinforced Thermoplastic (CFRTP), such as low density, superior strength, good impact toughness, high-quality fatigue resistance, recyclable use, fast processing, and low cost of manufacturing. North America, Europe and Asia are expected to be key markets.

The Middle East and Africa Carbon Fiber Reinforced Thermoplastic Composites CFRTP market size will expand at a compound annual growth rate (CAGR) of 5.9% from 2023 to 2030.