The Global Carbon Fibre Reinforced Plastic (CFRP) Composites Market was valued at USD 26.5 Billion in 2023 and is projected to reach USD 47.8 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period (2024–2030). This robust growth is primarily fueled by the escalating demand for lightweight, high-strength materials across the aerospace, automotive, and wind energy sectors, coupled with advancements in manufacturing technologies and increasing investments in sustainable material solutions.

As industries worldwide intensify their focus on fuel efficiency, emission reduction, and performance enhancement, CFRP composites have emerged as a cornerstone of modern engineering. In this blog, we profile the Top 10 Companies in the CFRP Composites Industry—a dynamic group of material science innovators, chemical giants, and advanced manufacturers shaping the future of lightweight materials.

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🔟 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 fibers by volume, holding a dominant position in the global CFRP market. Its TORAYCA® brand is synonymous with high-performance materials used in commercial aircraft like the Boeing 787 and Airbus A350, as well as in automotive, sporting goods, and industrial applications.

Innovation & Expansion Initiatives:

• Continuous capacity expansion to meet soaring demand from aerospace and automotive sectors

• Development of intermediate modulus and high-strength carbon fibers for next-generation applications

• Strategic partnerships with global OEMs to co-develop advanced composite solutions

Download FREE Sample Report: https://www.24chemicalresearch.com/download-sample/174829/global-carbon-fibre-reinforced-plastic-cfrp-composites-market-2022-891

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9️⃣ 2. Hexcel Corporation

Headquarters: Stamford, Connecticut, USA
Key Offering: Carbon fibers, fabrics, prepregs, honeycomb structures

Hexcel is a leading advanced composites company, supplying a wide range of lightweighting solutions to the commercial aerospace, space, defense, and industrial markets. The company’s products are critical components in aircraft structures, helicopter blades, and wind turbine blades.

Innovation & Expansion Initiatives:

• Pioneering high-performance HexPly® prepregs and HexWeb® honeycomb cores

• Significant investments in automation and out-of-autoclave manufacturing technologies

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8️⃣ 3. SGL Carbon

Headquarters: Wiesbaden, Germany
Key Offering: Carbon fibers, composite materials, graphite specialties

SGL Carbon is a key European player with a comprehensive portfolio of carbon-based products. The company serves the automotive industry with lightweight components for battery electric vehicles (BEVs), alongside its established markets in aerospace, wind energy, and semiconductors.

Innovation & Expansion Initiatives:

• Focus on carbon fiber composites for battery housings and body structures in electric vehicles

• Development of large-scale automated production processes for cost-effective CFRP parts

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7️⃣ 4. Teijin Limited

Headquarters: Osaka, Japan
Key Offering: TENAX® carbon fibers, prepregs, composite components

Teijin is a global technology-driven company offering advanced fibers and composites. Its TENAX® carbon fibers are renowned for their quality and performance, with applications ranging from aircraft and automobiles to pressure vessels and sporting goods.

Innovation & Expansion Initiatives:

• Leading the development of carbon fiber for hydrogen storage tanks

• Expansion of thermoplastic composite capabilities for high-volume automotive applications

Download FREE Sample Report: https://www.24chemicalresearch.com/download-sample/174829/global-carbon-fibre-reinforced-plastic-cfrp-composites-market-2022-891

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6️⃣ 5. Solvay

Headquarters: Brussels, Belgium
Key Offering: Specialty polymers, composite materials, carbon fiber prepregs

Solvay is a leading supplier of advanced composite materials, including a wide range of thermoset and thermoplastic prepregs, adhesives, and resin systems. The company’s materials are essential for lightweight structures in aerospace, automotive, and consumer goods.

Innovation & Expansion Initiatives:

• Development of sustainable composite solutions, including bio-based and recyclable resins

• Strategic focus on thermoplastic composites for rapid processing and recycling

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5️⃣ 6. Mitsubishi Chemical Carbon Fiber and Composites, Inc.

Headquarters: Sacramento, California, USA (North American subsidiary)
Key Offering: Pyrofil® carbon fibers, prepregs, molded components

Mitsubishi Chemical Group is a major global force in carbon fiber production. Its subsidiary, MCCFC, provides high-performance carbon fibers and composites tailored for the aerospace, industrial, and sporting goods markets, leveraging the parent company’s extensive chemical expertise.

Innovation & Expansion Initiatives:

• Investment in expanding production capacity for aerospace and pressure vessel grades

• R&D focused on lowering the cost of carbon fiber for mass-market applications

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4️⃣ 7. Hyosung Advanced Materials

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

Hyosung is a leading South Korean industrial group that has made significant strides in the carbon fiber market. The company is aggressively expanding its carbon fiber production capacity to become a major global supplier, particularly targeting the automotive and industrial sectors.

Innovation & Expansion Initiatives:

• Massive investments in new production lines to achieve economies of scale

• Focus on standard modulus carbon fibers for cost-sensitive, high-volume applications

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3️⃣ 8. Formosa Plastics Corporation

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

Formosa Plastics is a key Asian producer of carbon fibers, leveraging its vertical integration in the petrochemical industry. The company supplies carbon fibers for a wide array of applications, including wind energy, automotive, and civil engineering.

Innovation & Expansion Initiatives:

• Continuous expansion of carbon fiber production capacity to serve growing Asian markets

• Development of carbon fiber reinforced thermoplastics for injection molding

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2️⃣ 9. Gurit Holding AG

Headquarters: Wattwil, Switzerland
Key Offering: Composite materials, engineering services, tooling, kitting

Gurit is a specialist in composite materials and engineering solutions, with a strong focus on the wind energy and marine industries. The company provides a comprehensive range of core materials, prepregs, adhesives, and structural engineering services.

Innovation & Expansion Initiatives:

• Leading supplier of core materials and structural adhesives for wind turbine blade manufacturers

• Expansion into lightweight solutions for the transportation and infrastructure sectors

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1️⃣ 10. DowAksa Advanced Composites Holdings B.V.

Headquarters: İstanbul, Turkey (Joint Venture between Dow and Aksa)
Key Offering: Carbon fiber intermediates, composite materials

DowAksa is a strategic joint venture that combines Dow’s global chemical expertise with Aksa’s position as a leading acrylic fiber producer. The company aims to be a significant, integrated player in the carbon fiber value chain, from precursor to finished composites.

Innovation & Expansion Initiatives:

• Leveraging vertical integration to offer cost-competitive carbon fiber solutions

• Targeting growth in industrial applications, including automotive and construction

Get Full Report Here: https://www.24chemicalresearch.com/reports/174829/global-carbon-fibre-reinforced-plastic-cfrp-composites-market-2022-891

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🌍 Outlook: The Future of CFRP Composites Is Smarter, More Sustainable, and Mass-Produced

The CFRP composites market is undergoing a fundamental transformation. While high-performance aerospace applications continue to drive technological innovation, the industry’s future lies in penetrating high-volume markets through cost reduction, automation, and a heightened focus on sustainability and recyclability.

📈 Key Trends Shaping the Market:

• Accelerated adoption in the automotive sector for electric vehicle battery packs and lightweight body structures

• Rising demand from the wind energy industry for longer, more efficient turbine blades

• Development of recycling technologies and bio-based precursors to create a circular economy for carbon fiber

• Increased automation in manufacturing processes (e.g., automated tape laying, resin transfer molding) to reduce cycle times and costs

Get Full Report Here: https://www.24chemicalresearch.com/reports/174829/global-carbon-fibre-reinforced-plastic-cfrp-composites-market-2022-891

The companies listed above are not only supplying advanced materials—they are enabling the lightweight revolution across global industries, paving the way for a more efficient and sustainable future.