Bolstered by High Demand from Applications in Wind Energy & Pressure Vessels Sectors, Global Market

LOS ANGELES - April 7, 2025 - PRLog -- Industry Experts, Inc. released its latest version of the report on "Carbon Fibers & Carbon Fiber Reinforced Plastics (CFRP) Market", which projects the demand for carbon fiber to reach $8.5 billion (274K metric tons) by 2030, from an estimated $4.4 billion in 2024 at a CAGR of 11.6% between the two years. Carbon fiber reinforced plastics market was estimated at US$28 billion in 2024 and expected to grow by a CAGR of 11.4% during the same analysis period and reach US$54 billion by 2030.

The Carbon Fibers & Carbon Fiber Reinforced Plastics (CFRP) market faced a significant downturn in 2020 due to the COVID-19 pandemic, which disrupted major end-use sectors. Demand for Carbon Fibers worldwide recovered sharply during 2021-2022 period driven by recovery in commercial aerospace and industrial applications coupled with robust growth in sports equipment and wind turbine blades production, but experienced a subsequent drop in 2023, primarily due to a significant decrease in demand from the wind energy sector, which is a major consumer of carbon fiber for turbine blades; this reduced demand, led to a surplus in the market and consequently lower prices.

This report studies the Carbon Fibers & Carbon Fiber Reinforced Plastics (CFRP) market across all major regions including North America (The United States and Canada), Europe (Denmark, France, Germany, Italy, Spain, the United Kingdom, and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Taiwan, and Rest of Asia-Pacific), and Rest of the World (Brazil, Russia, Turkiye and Rest of World).

The study analyzes the Carbon Fibers & Carbon Fiber Reinforced Plastics (CFRP) market based on Application &ndash: Aerospace & Defense, Sports & Leisure, Wind Energy, Automotive, Pressure Vessels, Construction & Infrastructure, Molding Compounds, Oil & Gas, Other Industrial Applications; Product Type – Standard Modulus (Large-tow), Standard Modulus (Regular-tow), Intermediate Modulus and High Modulus; and Installed (Theoretical) Production Capacity &ndash: by Manufacturer and Plant Location, by Country and Region, and by Source (PAN-based, Pitch-based).

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For the full report visit: https://industry-experts.com/verticals/chemicals-and-materials/carbon-fibers-and-carbon-fiber-reinforced-plastics-cfrp-a-global-market-overview