The Global Market Of Carbon Fiber Prepreg Is Expected To Grow At A CAGR Of Over 10.4% During The Forecast Years, 2022-2030

The global carbon fiber prepreg market is anticipated to grow at the Compound Annual Growth Rate (CAGR) of 10.4 % over the current forecast period (2022-2030).Carbon fiber prepreg are used in a wide range of industry application owing to their excellent properties such as chemical, heat, and moisture resistance, high tensile strength, and superior mechanical properties among others. It is extensively used in applications pertaining to aerospace & defense, automobiles, sports equipments, wind power and others. The rising growth aerospace & defense across the globe is expected to substantially contribute to the growth of the carbon fiber prepreg market.  

The global carbon fiber prepreg market is driven by the growing demand for fuel efficient cars and growing investment in the wind energy. Moreover, it is estimated that the aerospace and defense sector is set to witness the highest growth during the forecast years. The properties such as growing operation stability at extreme temperatures and tensile strength have resulted in the increasing adoption of carbon fiber prepreg in the automotive and defense industry.

Market Segmentation

The global carbon fiber prepreg market is segmented into resin type, manufacturing process and end user industry. On the basis of the resin type, the market is segregated into epoxy resin, phenolic resin, BMI resin, cyanate ester resin, thermoplastic resin and other resins. The market by the manufacturing process is segmented into hot melt manufacturing process and solvent dip manufacturing process. The market by end user industry is further categorized into automotive, aerospace & defense, sports & leisure, wind energy, and others.

Market Scenario

On the basis of resin type, the epoxy resin is anticipated to lead the segment in 2016 and is expected to follow the same trend during the assessed years. This growth of the segment is mainly attributed to the growing demand from the automobile, aerospace and defense industry. Moreover, the low maintenance and durability are other reasons for the employment of epoxy resins in the end use industries.

Regional Analysis

The global carbon fiber prepreg market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, North America followed by Asia Pacific holds the major share of the market and is expected to continue the dominance during the forecast years. The presence of the most populated countries of the world such as India and China has augmented the demand for various sectors such as the sports & leisure products and automobile in turn adding to the market growth. Carbon Fiber Prepreg is extensively used in the production of bicycles, fishing rods, tennis rackets, and golf shafts among others. Moreover, the growing installation of wind energy capacity mainly in China and India to augmented the power sector also positively effecting the growth of the market.

The North American carbon fiber prepreg market is mainly driven by the U.S. and Canada. The presence of the developed end-user industries such as automotive and aerospace coupled with the increasing adoption rate is contributing significantly to the growth of the market. Moreover, the growing investment in the wind energy and defense sector is further expected to add fuel to the growth of the market.

Competitive Analysis

Some of the prominent players operating in the global carbon fiber prepreg market Cytec Solvay Group (Brussels, Belgium), Royal TenCate N.V. (Almeo, Netherlands), Teijin Limited (Osaka, Japan), Toray Industries, Inc. (Tokyo, Japan), Hexcel Corporation (Connecticut, U.S.), SGL Group (Wiesbaden, Germany), Gurit Holding AG (Wattwil, Switzerland), Park Electrochemical Corporation (Melville, U.S.), Mitsubishi Rayon Co., Ltd. (Japan), and Axiom Materials (California, U.S.) among others.

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