Carbon Fiber Prepreg Market: Global Outlook, Key Developments, And Market Share Analysis | 2022-2030 - Hexcel Corporation, Royal TenCate N.V., Park Electrochemical Corporation, Cytec Solvay Group, Gurit Holding AG
Carbon fiber prepreg is a process in which carbon fiber is injected with thermoset resins and enhancing its tensile strength, chemical resistance, and overall weight. The global carbon fiber prepreg market report contains drivers, restraints, developments, and latest trends for the period of 2017 to 2023 (forecast period). The outbreak of the COVID-19 virus and its impact on the production of carbon fiber is analyzed and discussed thoroughly in the report.
Market Scope
The global carbon fiber
prepreg market is anticipated to expand at an impressive growth rate over the
forecast period. The scope of prepregnated carbon fibers in industries of
automotive, aerospace, and renewable energy are expected to bode well for the
market. Increasing demand for fuel-efficient cars amid growing carbon emission
levels is likely to spur the demand for composite materials.
Competition Outlook
Hexcel Corporation, Royal
TenCate N.V., Park Electrochemical Corporation, Cytec Solvay Group, Gurit
Holding AG, Axiom Materials, Mitsubishi Rayon Co., Ltd., SGL Group, Toray
Industries, Inc., and Teijin Limited are key players of the global carbon fiber
prepreg market.
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Segmentation
The global carbon fiber
prepreg market is segmented by resin type, manufacturing process, and end user
industry.
On the basis of the resin
type, the market is segregated into thermoplastic resin, epoxy resin, BMI
resin, cyanate ester resin, phenolic resin, and other resins. Among the various
resin segments in carbon fiber prepreg market, the epoxy resin segment is the
leading one and is expected to continue its dominance over the forecast period.
Properties of high strength to weight ratio, enhanced heat corrosion, and
moisture resistance of epoxy resins makes them suitable for applications in
aerospace, defense, and others. Its fast
curing process is likely to culminate in the segment accumulating maximum
revenue for the global carbon fiber prepreg market.
By manufacturing process,
it is segmented into hot melt manufacturing process and solvent dip
manufacturing process.
End users of the market
include wind energy, automotive, aerospace & defense, sports & leisure,
and others. Aerospace & defense is the leading segment owing to high
performance stability of carbon fiber prepreg in comparison to conventional
materials. In addition, the move by airlines to increase their fleet numbers in
order to handle incoming passenger traffic can bode well for the global carbon
fiber prepreg market.
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Regional Analysis
The global carbon fiber
prepreg market estimates its value by looking at the potential in top five
regions, namely Europe, Latin America, Asia Pacific (APAC), North America, and
the Middle East & Africa (MEA).
Among these, North America
holds a major share of the market and is expected to be exhibit an astounding
CAGR during the forecast period. Increasing demand from aerospace & defense
and automotive sectors are likely to trigger the huge market demand. Moreover, presence
key automobile manufacturers such as Fiat Chrysler, General Motors, and Ford and
aircraft manufacturers such as Boeing can fuel the need for carbon fiber
prepreg in the region. This is evident with General Motors planning to
integrate carbon fiber composites for the beds of full sized pickups to reduce
its weight.
Europe is expected a large
windfall owing to presence of various aircraft and automobile manufacturers. In
addition, policies advocating the use of renewable energy and the move to lower
carbon emission levels can be a plus for the global market.
APAC is estimated to
perform well in the global carbon fiber prepreg market owing to inclination
towards sustainable energy development. Production of alternate fuels and
policies encouraging the use of electric and hybrid vehicles are likely to fuel
regional market growth.
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