The Global Carbon Fiber Reinforced Plastics (CFRPs) Market was valued at US$ 18.05 Billion in 2022 and is projected to reach US$ 22.44 Billion by 2035, growing at a Compound Annual Growth Rate (CAGR) of 3.2% during the forecast period (2023–2035). This sustained growth is driven by escalating demand from the aerospace, automotive, and wind energy sectors, where the unparalleled strength-to-weight ratio of CFRPs is critical for improving fuel efficiency, performance, and sustainability.

As industries worldwide push the boundaries of lightweighting and material performance, the spotlight falls on the key material scientists and manufacturers pioneering advanced CFRP solutions. In this blog, we profile the Top 10 Companies in the Carbon Fiber Reinforced Plastics Industry—a group of chemical giants, specialized composite firms, and innovation leaders shaping the future of high-performance materials.

Download FREE Sample Report:
Carbon Fiber Reinforced Plastics (CFRPs) Market – View in Detailed Research Report

---

🔟 1. Toray Industries, Inc.

Headquarters: Tokyo, Japan
Key Offering: TORAYCA® carbon fibers, prepregs, composite structures

Toray Industries is the world’s largest producer of carbon fiber by volume, with its TORAYCA® brand being a benchmark in the industry. The company supplies a comprehensive range of intermediate materials and finished composites, holding a dominant position in the aerospace sector as a primary supplier to major aircraft manufacturers like Boeing and Airbus.

Innovation and Expansion Initiatives:

• Continuous investment in expanding global production capacity

• Development of high-performance grades for automotive and pressure vessel applications

• Strategic focus on recycling technologies for carbon fiber composites

---

9️⃣ 2. Teijin Limited

Headquarters: Tokyo, Japan
Key Offering: Tenax® carbon fibers, prepregs, thermoplastic composites

Teijin is a global technology leader offering advanced fibers and composites. Its Tenax® carbon fibers are renowned for their quality and performance. The company is aggressively expanding into thermoplastic CFRPs, which offer faster processing times and recyclability advantages over traditional thermoset composites.

Innovation and Expansion Initiatives:

• Pioneering mass production technologies for automotive CFRP components

• Acquisition of Renegade Materials Corporation to strengthen aerospace portfolio

---

8️⃣ 3. Hexcel Corporation

Headquarters: Stamford, Connecticut, USA
Key Offering: Carbon fibers, woven fabrics, prepregs, adhesives

Hexcel is a leading advanced composites company, specializing in materials for commercial aerospace, space, defense, and industrial applications. Its products are integral to next-generation aircraft, enabling significant weight reduction and performance enhancements.

Innovation and Expansion Initiatives:

• Key supplier for Boeing 787 and Airbus A350 wings and fuselage sections

• Investment in high-volume automated manufacturing for industrial markets

Download FREE Sample Report:
Carbon Fiber Reinforced Plastics (CFRPs) Market – View in Detailed Research Report

---

7️⃣ 4. SGL Carbon

Headquarters: Wiesbaden, Germany
Key Offering: SIGRAFIL® carbon fibers, custom composite solutions

SGL Carbon is a leading developer and manufacturer of carbon-based solutions. Its Carbon Fibers unit produces a wide range of fibers and customized composite parts, with a strong focus on the automotive, aerospace, and wind energy industries.

Innovation and Expansion Initiatives:

• Major supplier of carbon fiber fabrics for wind turbine rotor blades

• Development of carbon fiber reinforced thermoplastics for serial automotive production

---

6️⃣ 5. Solvay S.A.

Headquarters: Brussels, Belgium
Key Offering: Composite materials, specialty polymers, carbon fiber prepregs

Solvay is a global leader in advanced materials and specialty chemicals. Its composite materials portfolio includes a vast range of high-performance thermoset and thermoplastic prepregs, which are used in the most demanding aerospace, automotive, and industrial applications.

Innovation and Expansion Initiatives:

• Leading provider of resin systems for primary aerospace structures

• Expansion of thermoplastic composite capacity to meet automotive demand

---

5️⃣ 6. Mitsubishi Chemical Carbon Fiber and Composites

Headquarters: Tokyo, Japan
Key Offering: Pyrofil® carbon fibers, intermediate materials

Mitsubishi Chemical Carbon Fiber and Composites (MCCFC) is a major force in the carbon fiber market, producing high-quality fibers for a broad spectrum of applications, from sporting goods to industrial and aerospace components.

Innovation and Expansion Initiatives:

• Focus on large-tow carbon fibers for cost-sensitive industrial applications

• Development of carbon fiber for compressed natural gas (CNG) hydrogen tanks

---

4️⃣ 7. Hyosung Advanced Materials

Headquarters: Seoul, South Korea
Key Offering: TANSOME® carbon fibers

Hyosung is a leading South Korean industrial conglomerate that has emerged as a significant global player in carbon fiber. Its TANSOME® brand is gaining market share by offering competitive products, particularly in the industrial and automotive sectors.

Innovation and Expansion Initiatives:

• Aggressive capacity expansion to become a top-tier global supplier

• Strategic partnerships to penetrate the North American and European markets

---

3️⃣ 8. Formosa Plastics Corporation

Headquarters: Kaohsiung, Taiwan
Key Offering: Carbon fibers, composite materials

Formosa Plastics Corporation is a major chemical company with a growing presence in the carbon fiber market. It leverages its vertical integration in the petrochemical industry to produce carbon fibers for various industrial applications.

Innovation and Expansion Initiatives:

• Continuous expansion of carbon fiber production lines

• Focus on standard modulus fibers for wind energy, automotive, and construction

Download FREE Sample Report:
Carbon Fiber Reinforced Plastics (CFRPs) Market – View in Detailed Research Report

---

2️⃣ 9. Solvay (SABIC’s Specialties Business – Post Acquisition)

Headquarters: Riyadh, Saudi Arabia / Brussels, Belgium
Key Offering: LNP™ thermoplastic composites, VALOX™ resins

Following strategic acquisitions and developments, entities like SABIC (Saudi Basic Industries Corporation) have a strong foothold in thermoplastic composites. SABIC’s LNP™ and VALOX™ portfolios include carbon fiber reinforced compounds that offer excellent mechanical properties and design freedom.

Innovation and Expansion Initiatives:

• Development of high-flow, laser-weldable compounds for electronics and automotive

• Focus on sustainable solutions, including bio-based and recycled content materials

---

1️⃣ 10. Hexion Inc.

Headquarters: Columbus, Ohio, USA
Key Offering: Epoxy resins, formulating technologies for composites

Hexion Inc. is a premier producer of thermoset resins, which are the matrix material for a significant portion of CFRPs. Its high-performance epoxy systems are critical for manufacturing composite parts in aerospace, wind energy, and automotive industries.

Innovation and Expansion Initiatives:

• Development of fast-cure and toughened epoxy systems for high-volume production

• Specialized resin formulations for wind turbine blades and automotive lightweighting

Get Full Report Here:
Carbon Fiber Reinforced Plastics (CFRPs) Market – View in Detailed Research Report

---

🌍 Outlook: The Future of CFRPs is Intelligent and Sustainable

The Carbon Fiber Reinforced Plastics market is undergoing a profound transformation. While aerospace remains the benchmark for high-performance applications, the industry’s future is being shaped by the rapid adoption in automotive mass production, renewable energy, and hydrogen infrastructure.

📈 Key Trends Shaping the Market:

• Shift towards thermoplastic CFRPs for recyclability and faster cycle times

• Increased automation in composite manufacturing processes like automated tape laying (ATL) and fiber placement (AFP)

• Growing emphasis on circular economy and carbon fiber recycling technologies

• Expansion into new applications like lightweight bridges, modular construction, and medical devices

Get Full Report Here:
Carbon Fiber Reinforced Plastics (CFRPs) Market – View in Detailed Research Report

The companies listed above are not only supplying materials—they are enabling a lighter, stronger, and more efficient future across global industries.