The Global Thermoplastic Carbon Fiber Reinforced Plastic Market was valued at USD 6.1 Billion in 2023 and is projected to reach USD 8.8 Billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period (2023-2029). This expansion is fueled by escalating demand across aerospace, automotive, and renewable energy sectors for high-strength, lightweight materials, coupled with technological advancements in thermoplastic composites.

As manufacturers increasingly prioritize sustainability without compromising performance, thermoplastic CFRP has emerged as a transformational material technology. This report profiles the Top 10 Companies in the Thermoplastic Carbon Fiber Reinforced Plastic Market – the industry leaders pioneering next-generation composite solutions.

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🔟 1. Toray Industries, Inc.

Headquarters: Tokyo, Japan
Key Offering: TORAYCA™ carbon fiber materials, thermoplastic prepreg systems

Toray maintains industry leadership through vertically integrated CFRP production, supplying aerospace (Boeing, Airbus), automotive, and industrial sectors with cutting-edge composite solutions.

Recent Innovations:

• €200M European production expansion to meet growing aerospace demand
• Development of 90% recyclable CFRP technology
• Strategic automotive partnerships for mass production solutions

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9️⃣ 2. Teijin Limited

Headquarters: Osaka, Japan
Key Offering: TENAX™ carbon fibers, Sereebo® recycled CFRP systems

Teijin excels in sustainable CFRP solutions, developing automated production systems for high-volume manufacturing.

Recent Innovations:

• World’s first mass production CFRP system for automotive applications
• Flame-retardant composites for aerospace cabin interiors
• Global expansion of carbon fiber recycling infrastructure

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8️⃣ 3. SABIC

Headquarters: Riyadh, Saudi Arabia
Key Offering: LNP™ THERMOCOMP thermoplastic compounds

SABIC delivers tailored CFRP solutions emphasizing circular economy principles across multiple industries.

Recent Innovations:

• 40% carbon fiber reinforced ULTEM™ resins for extreme conditions
• Laser-weldable CFRP technology reducing assembly costs
• Americas and Asia capacity expansions underway

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7️⃣ 4. Solvay S.A.

Headquarters: Brussels, Belgium
Key Offering: APC thermoplastic prepregs, CYCOM® thermoplastic systems

Solvay specializes in aerospace-grade CFRP, developing materials for next-generation aircraft and space applications.

Recent Innovations:

• Key supplier for Airbus commercial aircraft programs
• 3D-printable CFRP formulations
• €300M committed to composite materials R&D through 2026

Download FREE Sample Report: Global Thermoplastic Carbon Fiber Reinforced Plastic Market – View in Detailed Research Report

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6️⃣ 5. Hexcel Corporation

Headquarters: Stamford, Connecticut, USA
Key Offering: HEXMC® molding compounds, carbon fiber prepregs

Hexcel provides aerospace and industrial CFRP solutions with complete vertical integration from fiber to finished product.

Recent Innovations:

• Material solutions for Boeing 777X thermoplastic-intensive wings
• 40% production capacity increase for carbon fibers
• Fast-cure systems for automotive applications

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5️⃣ 6. Mitsubishi Chemical Carbon Fiber and Composites

Headquarters: Tokyo, Japan
Key Offering: Pyrofil™ thermoplastic CFRP products

Mitsubishi Chemical focuses on thermal and electrical performance enhancements in CFRP materials.

Recent Innovations:

• Commercial products with enhanced thermal conductivity
• North American automotive supply chain expansion
• Hydrogen storage tank material development

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4️⃣ 7. SGL Carbon

Headquarters: Wiesbaden, Germany
Key Offering: SIGRAPREG® prepregs, carbon fiber fabrics

SGL Carbon leads in sustainable CFRP production and recycling technologies for mass-market applications.

Recent Innovations:

• €100M investment in carbon fiber recycling capabilities
• BMW i-series vehicle component supplier
• Cost-reduced CFRP solutions for automotive

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3️⃣ 8. Formosa Plastics Corporation

Headquarters: Taipei, Taiwan
Key Offering: Carbon fiber materials, thermoplastic compounds

Formosa is expanding as a major Asian CFRP producer serving automotive and industrial markets.

Recent Innovations:

• Scaling to 20,000 tons/year carbon fiber capacity
• Development of conductive CFRP for EMI shielding
• Chinese EV manufacturer collaborations

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2️⃣ 9. Hyosung Advanced Materials

Headquarters: Seoul, South Korea
Key Offering: TANSOME™ carbon fiber

Hyosung is emerging as a cost-competitive CFRP supplier with rapid capacity expansion.

Recent Innovations:

• $1B investment in carbon fiber production capacity
• Korean aerospace and automotive supplier
• Bio-based precursor development

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1️⃣ 10. A&P Technology

Headquarters: Cincinnati, Ohio, USA
Key Offering: Advanced textile reinforcements

A&P Technology specializes in automated textile processes that optimize CFRP production efficiency.

Recent Innovations:

• Automated 3D weaving technology implementation
• Aerospace-grade tailored reinforcement solutions
• Expansion into medical and energy applications

Get Full Report Here: Global Thermoplastic Carbon Fiber Reinforced Plastic Market – View in Detailed Research Report

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🌍 Market Outlook: CFRP Driving the Lightweighting Revolution

The thermoplastic CFRP market is reshaping manufacturing paradigms by delivering unprecedented strength-to-weight ratios coupled with recyclability advantages over traditional materials.

📈 Key Market Drivers:

• Aerospace adoption enabling 50% structural weight reduction
• Automotive shift to CFRP for EVs and battery enclosures
• Closed-loop recycling technology advancements
• High-volume production methods reducing costs

The profiled companies represent the vanguard of materials innovation, making CFRP more accessible, sustainable, and performance-optimized for tomorrow’s applications.

Get Full Report Here: Global Thermoplastic Carbon Fiber Reinforced Plastic Market – View in Detailed Research Report