Carbon Fiber Prepreg Market to Value Over $12 Billion By 2026 End

  • 12 Jul 2019

Global carbon fiber prepreg market predicted to value over USD 12 billion by 2026 end and register a CAGR of over 9.4% during the forecast period 2019 to 2026. 

Prepreg is a process by which fabric is strengthened using reinforcements and external agents.  External substances used for prepreg are glass, carbon, and synthetic polymer fibers. Requirements for stiffness, tenacity, rust-free materials drive the growth of this market. 
Carbon fiber prepregs are synthesised from carbon fibers with epoxy, phenols and thermoplastic resins. Prepreg has strength and weight, resistance properties and thus is preferred in commercial and industrial applications. Since the material is a hybrid, it has a higher tolerance for temperature and pressure.

Holt melt and solvent dip are two methods employed in the synthesis of carbon fibre prepreg. 
A thin film of the heated resin is coated on the underlying surface of the product. The material and the resin are then in contact and with the application of pressure and temperature, the final material is ready. In the other process, solvent bath, the original material is dipped into a solution containing the resin as the solvent, where prepregs are dissolved in the above solution as well. Once the solution evaporates,  the material is dried using an oven.

These materials are used in wind technology,  aerospace domains and automotive applications. These are heavy industries and thus are major consumers of this market. 
Owing to the increasing demand for durable materials in heavy industries, the market is predicted to have good prospects in the foreseeable future. 
Technological improvements, innovations and urbanization will help expand the market’s global reach. The improved life span of these products and their durability make these materials popular, leading to an increase in demand during the forecast period. 

Global Carbon Fiber Prepreg Market: Restraints
•    High manufacturing costs
•    Tedious processing methods

Global Carbon Fiber Prepreg Market: Segmentation
By Resin Type: 

•    Thermoplastic  
•    Epoxy  
•    Phenolic Resin  
•    Polyimide Resin  
•    Bismaleimide Resin 
•    Other Resins 
Epoxy resin segment holds major market share due to its versatile use across all industries. This segment is projected to gain significant shares during the forecast period due its properties. 
 

By Manufacturing Process: 
•    Hot melt process 
•    Solvent dip process  
The hot melt manufacturing process segment is projected to expand at a considerable rate due to ability to manufacture diverse materials. 
 

By End-use Industry: 
•    Automotive 
•    Aerospace & Defense 
•    Sports & Leisure 
•    Wind Energy 
Aerospace & defense is the largest end-user industry in this market. 
The increase in the production of airplanes by Boeing and Airbus. Further developments in relation are, Boom Technology, a startup manufacturing airplanes, is planning to build a new aircraft, the commercial supersonic transport aircraft XB-1. This further fuels demand for this particular market.
 

By Region:  
•    Europe  
•    North America  
•    APAC 
•    Latin America 
•    Rest of World 
In 2015, North America dominated the market by garnering the highest revenue. The wind energy sector in North America is estimated to expand furthermore during the forecast period, which in turn will fuel the product demand.
The region of Asia-Pacific is projected to record rapid growth due to increase in applications of wind energy, especially in  India, China and Indonesia. 

Competitive Landscape:  
•    Tier 1 players- established companies in the market with the major market share  
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants   
 Major firms in the market are Hexcel Corporation, Cytec Solvay Group, Royal Ten Cate N.V, Teijin Limited, and Mitsubishi Rayon Co., Ltd.
In 2017, Hexcel Corporation entered into an agreement with Irkut Corporation (Russia) for the supply of HexPly carbon fiber/epoxy prepreg for the MC-21-300new generation commercial aircraft. In the same year, Solvay Group launched SolvaLite 730 prepreg for high volume automotive applications. Alongside this, Toray Industries, Inc. expanded its carbon fiber capacity at its Jalisco plant in Mexico. New technologies are being introduced in order to increase the revenue earned by the firms. 

FutureWise Key Takeaways  
•    Growth prospects  
•    SWOT analysis 
•    Key trends 
•    Key data points affecting market growth  

Objectives of the Study: 
•    To provide with an exhaustive analysis on global carbon fiber prepreg market by resin type, manufacturing process, end-user industry, and region
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) 
•    To evaluate and forecast micro-markets and the overall market  
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East 
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions 
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies  

 

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