Global Carbon Fiber Prepreg Market is Expected to Grow at a Significant CAGR During the Forecast Period, Due to Increasing Demand from Various Industries
Analyst Speak:
“The Global Carbon Fiber Prepreg Market poised to reach US$ XX Mn by 2025 with a significant CAGR over seven years forecast period 2019-2025” owing to the increasing demand from various industries.
Precision Business Insights (PBI) in its report titled “Global Carbon Fiber Prepreg Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The Global Carbon Fiber Prepreg market was valued at US$ XX Mn in 2018 and projected to reach US$ XX Mn by 2025. The carbon fiber prepreg market is growing due to its increasing demand from aerospace & defense, automotive, and wind energy industries. Boeing and Airbus have ramped up the production of commercial aircraft to cater to the rising airline passenger traffic. The increasing use of carbon fibers in electric cars and rising aircraft production are the major drivers of the market. Growth in the renewable energy market, particularly wind energy, is another factor driving the demand for carbon fiber prepregs. Frequent power cuts, blackouts, voltage fluctuation and load shedding have led to increased demand for wind power in residential buildings and this in turn, is likely to fuel the growth of the carbon fiber prepreg market. Supportive government policies in the form of tax benefits and subsidies can further add to the growth of the wind energy market. High manufacturing and processing cost is seen as a major restraint for the carbon fiber prepreg market. Recycling of carbon fiber prepregs is expensive and this can prove to be another factor responsible for hampering the growth of this market.
Global carbon fiber prepreg market segmented on the basis of resin type, manufacturing process, and end users.
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Epoxy Resins Expected to Dominate the Global Carbon Fiber Prepreg Market
Based on resin type, carbon fiber prepreg market is segmented into epoxy, phenolic, thermoplastic. Epoxy resins dominate the overall carbon fiber prepreg market as they are widely applicable in aerospace & defense, automotive, sports & recreation, wind energy, and other industries. Epoxy resin with carbon fiber reinforcement is primarily used in aerospace & defense and automotive industries. It also has a faster curing time compared to other thermoset resins, which makes it the preferred choice among automakers. The processing cost of epoxy resins is high for various end-use applications; which makes them very expensive. However, due to their rigid inter-linking molecular structure, inert chemical composition, and resistance to UV and chemical attack, epoxy resins are very durable.
North America Leads the Global Carbon Fiber Prepreg Market
Precision Business Insights (PBI) global carbon fiber prepreg market report analyses the market in different regions of North America, Europe, Latin America, Asia Pacific, and Middle East Africa. According to regional analysis, APEJ is expected to be the fastest growing carbon fiber prepreg market owing to rapid industrialization and aggressive expansion of the manufacturing sector. North America is anticipated to dominate the carbon fiber prepreg market during the forecast period. This high growth is attributed to the growing demand from aerospace & defense and automotive industries. Europe is the other prominent market in terms of rising demand for carbon fiber prepreg. The steady growth in German automobile industry is the major driving factor in this region. Middle East, Latin America and Africa are expected to expand at a relatively lower CAGR over the forecast period.
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Scintillating Market Strategy Play Vital Role in Global Carbon Fiber Prepreg Market
The company possesses extensive product portfolio pertaining to carbon fiber prepregs. It gives immense emphasis on the development of high-grade carbon fiber prepregs for usage in various end-use industries. As a part of its growth strategy, the company is highly focused on expansions and agreements. For instance, in November 2017, the company entered into an agreement with Strata (UAE), an advanced composite aero structures manufacturing facility, for the supply of aerospace materials for the Boeing 777X aircraft.
Key player’s profiles in the report are SGL Group (Wiesbaden, Germany), Gurit Holdings AG (Wattwil, Switzerland), Park Electrochemical Corporation (Melville, U.S.), Toray Industries (Tokyo, Japan), Teijin Limited (Osaka, Japan), Royal TenCate N.V. (Almeo, The Netherlands), Hexcel Corporation (Connecticut, US), Solvay (Brussels, Belgium), Mitsubishi Rayon Co. Ltd. (Tokyo, Japan), Axiom Materials (California, US).
Detailed Segmentation
By Resin Type
o Epoxy
o Phenolic
o Thermoplastic
By Manufacturing Process Type
o Hot Melt
o Solvent Dip
By End User Type
o Aerospace & Defense
o Wind Energy
o Sports & Leisure
o Automotive
Geography
o North America
U.S.
Canada
o Europe
Germany
UK
France
Russia
Spain
Italy
Rest of Europe
o Asia-Pacific
China
Japan
India
ASEAN
Rest of Asia Pacific
o Latin America
Brazil
Mexico
Argentina
Chile
Rest of Latin America
o Middle East and Africa
South Africa
Gulf Corporation Council Counties (GCC)
Rest of MEA
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