Global carbon fiber prepreg market is expected to rise from its initial estimated value of USD 6.22 billion in 2018 to a projected value of USD 14.04 billion by 2026, registering a CAGR of 10.71% in the forecast period of 2019-2026. This rise in market value can be attributed to growth in demand of the product from the various end-users.
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Carbon fiber prepreg are pre-impregnated carbon composite fiber that does not require any addition of resins before their usage as they are already equipped with the appropriate resin/curing agent in their structure in the form of polymer matrix. This results in quicker application time as the products are ready for use without the need for resin application, although the curing stage is still required where the resins are cured with the help of pressure and heat.
- Growth in the number of aircrafts being manufactured; this factor is expected to drive the market growth
- Innovations in technology leading to advanced levels of product offerings; this factor is expected to act as a driver for the market growth
- Lack of usage of the product in difficult and high-temperature circumstances; this factor is expected to restrain the market growth
- High cost in the formulation of the product is expected to restrain the market growth
Key Developments in the Market:
- In February 2019, TEIJIN LIMITED announced that they had agreed to acquire Renegade Materials Corporation, a leader in supplying heat-resistant thermoset prepreg for the aerospace industry. Renegade will become a subsidiary of TEIJIN LIMITED with this acquisition and will enhance their capabilities associated with prepregs.
- In November 2018, Airtech Advanced Materials Group announced the launch of “LTC3” series of Carbon Prepregs. The models available in the series offer requirement of a lower temperature during the curing stage as well as higher resistance against higher temperatures.
Key Market Competitors:
SGL Carbon; Solvay; Hexcel Corporation; Axiom Materials, Inc.; Koninklijke Ten Cate bv.; TEIJIN LIMITED.; Gurit; Mitsubishi Chemical Corporation; Airtech Advanced Materials Group; TORAY INDUSTRIES, INC.; PARK ELECTROCHEMICAL CORP.; TCR Composites; HANKUK CARBON CO.,LTD.; KINECO – KAMAN; Barrday, Inc.; TAIWAN FIRST LI-BOND Co., LTD.; Holding company “Composite”; GMS COMPOSITES; ABC Composite Materials LLC; North Thin Ply Technology and Plastic Reinforcement Fabrics Ltd are few of the major competitors currently working in the carbon fiber prepreg market.
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Global carbon fiber prepreg market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of carbon fiber prepreg market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Segmentation: Global Carbon Fiber Prepreg Market
- By Manufacturing Process
- Solvent Dip Process
- Hot Melt Process
- By Resin Type
- Phenolic Resin
- Bismaleimide Resin
- Epoxy Resin
- Thermoplastic Resin
- Polyimide Resin
- By End-Use Industry
- Wind Energy
- Sports & Recreation
- Aerospace & Defense
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
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