“The carbon fiber prepreg market is projected to register a CAGR of 10.5% during the forecast period.”
The carbon fiber prepreg market is projected to reach USD 11.5 billion by 2024, at a CAGR of 10.5% between 2019 and 2024. The major drivers stimulating the carbon fiber prepreg market are an increase in demand for carbon fiber prepreg in electric cars and growing commercial aircrafts production. The major restraining factors of this market include limitation in the use of carbon fiber prepreg in high-temperature aerospace applications, and high processing and manufacturing cost.
“Aerospace & defense is the fastest-growing end-use industry in the carbon fiber prepreg market, in terms of value.”
The aerospace & defense industry constituted a major portion in the carbon fiber prepreg market, by value and volume. The properties exhibited by carbon fiber prepreg is one of the factors driving the carbon fiber prepreg market in the aerospace & defense industry, as they offer a complete solution including lightweight, ease of construction, resistance against corrosion & chemicals, and operational stability at high temperatures. This helps improve fuel efficiency and performance of aircraft. Nowadays, almost 50% of the materials used in aircraft are carbon fiber prepregs.
“Europe is the fastest-growing market for carbon fiber prepreg.”
Europe is expected to be the fastest-growing carbon fiber prepreg market during the next five years. The main factor that is expected to contribute to this growth is the increasing demand from the aerospace, automotive, and wind energy industries in the region. The market in the region is driven by the presence of large aircraft manufacturers, electric car manufacturers, and offshore wind farm installations in the region. In 2015, BMW started using carbon fiber implants in its 7-series sedan. There are a large number of offshore wind energy installations, especially in the UK and Germany.
This study has been validated through primaries conducted with various industry experts, globally.
These primary sources have been divided into the following three categories:
- By company type- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%
- By designation- C Level- 35%, Director Level- 30%, and Others- 35%
- By region- North America- 25%, Europe- 30%, APAC- 30%, Latin America-5%, and Middle East & Africa-10%
The report provides a comprehensive analysis of company profiles listed below:
- Solvay (Belgium)
- Royal TenCate N.V. (Netherlands)
- Teijin Limited (Japan)
- Toray Industries, INC. (Japan)
- Hexcel Corporation (Connecticut, US)
- SGL Group (Germany)
- Gurit Holdings AG (Wattwil, Switzerland)
- Park Electrochemical Corporation (Melville, US)
- Mitsubishi Rayon Co. Ltd. (Tokyo, Japan)
- Axiom Materials (California, U.S.)
- This report covers the global carbon fiber prepreg market and forecasts the market size until 2024.
- The report includes the market segmentation by resin type (epoxy, phenolic, thermoplastic, bismaleimide (BMI), polyimide, and others), by application (aerospace & defense, automotive, sports & recreation, wind energy, and others), by manufacturing process (hot melt and solvent dip) and region (Europe, North America, APAC, Latin America, and MEA). Porter’s Five Forces analysis along with the drivers, restraints, opportunities, and challenges are discussed in the report.
- It also provides company profiles and competitive strategies adopted by the major players in the global carbon fiber prepreg market.
Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways:
- This report segments the global carbon fiber prepreg market comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.
- The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to understand competitors better and gain more insights to better their positions in their businesses.
- The competitive landscape section includes the competitor ecosystem, new product launches, agreements, contracts, joint ventures, partnerships, expansions, and mergers & acquisitions.