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The Carbon Fiber Prepreg Market size is forecast to increase by USD 1.13 billion, at a CAGR of 6.68% between 2022 and 2027. The market's growth hinges on various factors, notably the expansion of wind power capacities, driven by global efforts to transition towards renewable energy sources. Additionally, the increasing use of carbon composites in commercial aircraft manufacturing is reshaping the aerospace industry, with these lightweight materials offering improved fuel efficiency and durability. Furthermore, emerging demand from developing economies is propelling market expansion, as countries invest in infrastructure development and modernization projects. This confluence of trends underscores a shifting landscape towards sustainable energy and advanced manufacturing practices. As industries worldwide seek to reduce their carbon footprint and enhance operational efficiency, the market for wind power and carbon composites continues to experience robust growth and innovation.
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This report extensively covers market segmentation by type (thermoset and thermoplastics), application (aerospace and defense, wind energy, automotive parts, and sports equipment), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market encompasses the production and supply of Carbon Fiber Reinforcements in a Polymer Resin System, also known as Prepreg. This advanced composite material, consisting of Fibres impregnated with Resin, offers significant Mechanical Advantages, including high Strength-to-weight ratio, Stiffness, and Longevity. Carbon Fiber Prepreg is extensively used in various industries, such as Aviation and Automobiles, for manufacturing components with enhanced Fatigue Resistance and Corrosion Resistance. In the Aviation sector, It is utilized in producing lightweight yet robust components for aeroplanes, contributing to improved Fuel Efficiency. In the Automotive industry, it is used in manufacturing high-performance cars and Electric Vehicles (EVs), leading to reduced Fuel Consumption and increased Electric Range.
Advanced Production Techniques, such as Automated Layup and Resin Infusion, are employed to manufacture components, ensuring precision and consistency. The market also caters to niche applications, including Drones, Military and Surveillance, and Wind Power, where the unique properties of Carbon Fiber Prepreg offer significant benefits. Bismaleimide (BMI) Resin and Polyimide Resin are commonly used Resin Systems in production due to their superior properties. The market is expected to grow significantly due to the increasing demand for lightweight and high-performance materials in various industries. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growth of wind power capacities is notably driving the market growth. Carbon fiber prepreg, a composite material consisting of carbon fiber reinforcements and a polymer resin system, holds significant importance in various industries due to its superior mechanical advantages. Prepreg, a pre-impregnated fiber material, offers benefits such as strength-to-weight ratio, stiffness, longevity, and fatigue resistance. These properties make an ideal choice for applications in the aerospace and defense industry, where lightweight and high-performance components are essential. In the automotive sector, it is used to manufacture aeroplane components and automobiles, contributing to fuel efficiency and reduced weight. The use of carbon fiber prepreg is also expanding in the production of electric cars (EVs), further enhancing their performance and longevity. In the renewable energy sector, carbon fiber prepreg is increasingly being used in wind energy applications, particularly in the manufacturing of wind turbine blades.
The benefits of using carbon fiber prepreg in wind turbine blades include improved strength, reduced weight, and enhanced durability. This results in increased efficiency, longer blade life, and reduced maintenance costs. The production processes involve resin impregnation and controlled curing using specialized equipment and raw materials such as epoxy resin, phenolic resin, thermoplastic resin, and bismaleimide (BMI) resin. The curing process involves the application of pressure and heat to ensure proper resin flow and fiber orientation. Advanced production techniques, such as automated layup and resin infusion, are being adopted to streamline the manufacturing process and reduce production costs. The use Is expected to continue growing in various industries due to its mechanical advantages, weight reduction, and fuel consumption benefits. Thus, the growing wind farm across the various nation of the globe will leverage the market during the forecast period.
Rising population, urbanization, and increasing power requirement|Increasing demand for lightweight and high-performance materials is the primary trend in the market. The market represents a significant growth opportunity for the composite material industry, driven by the increasing demand for carbon fiber reinforcements in various sectors. Carbon fibers, when combined with a polymer resin system, form prepregs, which offer superior mechanical advantages such as high strength-to-weight ratio, stiffness, longevity, fatigue resistance, and corrosion resistance. These properties make carbon fiber prepregs an ideal choice for manufacturing components in the aerospace and defense industry, as well as in automobiles, wind turbine blades, and renewable energy sources. Carbon fiber prepregs are essential in the production of aeroplane components due to their lightweight nature and excellent mechanical properties. In the automotive sector, the use of carbon fiber prepregs in automobiles contributes to fuel efficiency and the development of electric cars (EVs). The construction industry also benefits from carbon fiber prepregs, as they offer weight reduction and improved fuel consumption in advanced production techniques such as automated layup and resin infusion.
The market is expected to witness substantial growth due to the increasing demand for specialized equipment and raw materials required for resin impregnation and controlled curing processes. Epoxy resin, phenolic resin, thermoplastic resin, bismaleimide (BMI) resin, and polyimide resin are commonly used resin systems in the productio. The curing process involves the application of pressure and heat to ensure the proper bonding of the fibers and resin. The aerospace and defense industry is a major consumer due to the high demand for lightweight and strong materials in the manufacturing of aircraft and defense components. The automotive industry is also expected to contribute significantly to the growth of the market, as automakers continue to focus on reducing vehicle weight and improving fuel efficiency. In conclusion, the market is poised for substantial growth due to the increasing demand for lightweight, strong, and durable composite materials in various industries, including aerospace and defense, automotive, and renewable energy sources. The market is expected to require substantial investment in specialized equipment and raw materials to meet the growing demand.
High cost related to carbon composites is the one of challenges affecting the market growth. Carbon fiber prepregs, a type of composite material, are manufactured using carbon fiber reinforcements and a polymer resin system. Prepregs are essential in the production of carbon fiber composites, which offer significant mechanical advantages, including high strength-to-weight ratio, stiffness, longevity, fatigue resistance, and corrosion resistance. These properties make carbon fiber composites an ideal choice for various industries, such as aerospace and defense, automobiles, and renewable energy sources. In the aerospace and defense industry, carbon fiber prepregs are used extensively in the manufacturing of aeroplane components due to their lightweight nature and superior mechanical properties. In the automotive sector, carbon fiber composites are increasingly being used to reduce vehicle weight and improve fuel efficiency, making them an attractive option for electric cars (EVs). Carbon fiber prepregs are also used in the production of wind turbine blades, which require high strength and stiffness to withstand the forces of wind. The use of carbon fiber composites in renewable energy sources contributes to weight reduction and improved fuel consumption, making them a cost-effective and sustainable solution. The production processes involve resin impregnation and controlled curing using specialized equipment.
Epoxy resin, phenolic resin, thermoplastic resin, and bismaleimide (BMI) resin are commonly used resins in the manufacturing. The curing process involves the application of pressure and heat to ensure proper curing and the formation of a strong bond between the fibers and the resin. The high cost of raw materials, such as carbon fibers and resins, can impact the procurement costs for vendors, potentially reducing the demand for carbon fiber composites and increasing the demand for substitute materials, such as metals and plastics. However, advanced production techniques, such as automated layup and resin infusion, can help reduce production costs and increase efficiency, making carbon fiber composites a more competitive option in various industries. The high manufacturing cost associated with carbon fiber composite is mainly due to the increased raw material cost. As carbon fiber composites are costly, OEMs will shift to cheaper alternatives, which will lower the demand for carbon fiber prepreg used in carbon fiber composites during the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Axiom Materials Inc. - The company offers carbon fiber prepreg products such as Woven for honeycomb paneling and electronic transmission. The company offers progressive composite materials such as prepreg and adhesives.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth of the thermoset segment will be significant during the forecast period. The market is a significant sector in the advanced composites industry. Carbon Fiber Prepreg refers to a type of composite material where the reinforcing carbon fibers are coated with a thermosetting resin. This material is then used to manufacture complex composite structures. The demand is driven by its high strength-to-weight ratio, excellent thermal and electrical conductivity, and resistance to corrosion. These properties make it an ideal choice for various industries such as aerospace, automotive, wind energy, and sports equipment. The market is expected to grow at a steady pace due to increasing applications in lightweight and high-performance industries.
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The thermoset segment was valued at USD 2.25 billion in 2017 and continued to grow until 2021. The use of Carbon Fiber Prepreg in the aerospace industry is expected to remain a major contributor to the market growth. Additionally, the increasing adoption of Carbon Fiber Prepreg in the automotive industry for manufacturing lightweight and fuel-efficient vehicles is also expected to boost the market. The production process of Carbon Fiber Prepreg involves the impregnation of carbon fibers with a thermosetting resin. The resin is then cured under heat and pressure to form a solid composite material. The prepreg is then used to manufacture complex composite structures using various manufacturing processes such as autoclave molding, compression molding, and vacuum bag molding. The market is competitive, with several key players operating in the market. These players focus on expanding their production capacity and developing new products to cater to the growing demand for lightweight and high-performance materials. The market is also witnessing several collaborations and partnerships between players to enhance their product offerings and expand their customer base. In conclusion, the market is expected to grow at a steady pace due to its increasing applications in various industries. The market is competitive, with several key players focusing on expanding their production capacity and developing new products to cater to the growing demand for lightweight and high-performance materials. Thus, with the rising popularity of thermoset-based, the global market is expected to witness high growth during the forecast period.
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North America is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market trends and drivers that shape the market during the forecast period.
The market in North America is anticipated to dominate the global industry due to the burgeoning sectors of drones, military and surveillance, electric vehicles (EVs), high-performance cars, and wind power. The US economy's growth is driven by increased consumer spending, residential construction, and government expenditure, leading to a real GDP growth of over 2% from 2016 to 2036. Carbon fiber prepregs, composed of carbon fibers and matrix materials like thermoplastic resins (PEEK), are essential for manufacturing lightweight and strong components in various industries. In aerospace and defense, these materials enhance tensile strength, chemical resistance, and reduce weight, aligning with the FAA's new Part 23 regulation aiming to decrease aircraft weight. Additionally, the wind turbine industry and fuel-efficient cars in the renewable energy sector further fuel the demand for carbon fiber prepregs. Vacuum bagging supplies and composite vacuum pumps are crucial for the hot melt process and solvent dip process in the production of carbon fiber prepregs.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
The market is a significant sector in the advanced composites industry. Carbon Fiber Prepreg refers to a type of composite material where the reinforcing carbon fibers are coated with a thermosetting resin. This material is then used to manufacture complex composite structures. The demand for Carbon Fiber Prepreg is driven by its high strength-to-weight ratio, excellent thermal and electrical conductivity, and resistance to corrosion. These properties make it an ideal choice for various industries such as aerospace, automotive, wind energy, and sports equipment. The market is expected to grow at a steady pace due to increasing applications in lightweight and high-performance industries. The use of Carbon Fiber Prepreg in the aerospace industry is expected to remain a major contributor to the market growth. Additionally, the increasing adoption of Carbon Fiber Prepreg in the automotive industry for manufacturing lightweight and fuel-efficient vehicles is also expected to boost the market. The production process of Carbon Fiber Prepreg involves the impregnation of carbon fibers with a thermosetting resin. The resin is then cured under heat and pressure to form a solid composite material.
Further, the prepreg is then used to manufacture complex composite structures using various manufacturing processes such as autoclave molding, compression molding, and vacuum bag molding. The market is competitive, with several key players operating in the market. These players focus on expanding their production capacity and developing new products to cater to the growing demand for lightweight and high-performance materials. The market is also witnessing several collaborations and partnerships between players to enhance their product offerings and expand their customer base. In conclusion, the market is expected to grow at a steady pace due to its increasing applications in various industries. The market is competitive, with several key players focusing on expanding their production capacity and developing new products to cater to the growing demand for lightweight and high-performance materials.
Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.68% |
Market growth 2023-2027 |
USD 1.13 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.46 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 50% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Axiom Materials Inc., Arvind Composites, Celanese Corp., Dexcraft, DowAksa Ileri Kompozit Malzemeler San. Ltd. Sti., Formosa M Co. Ltd., Gurit Holding AG, Hexcel Corp., K. Sakai and Co. Ltd., Kordsa Teknik Tekstil AS, Mitsubishi Chemical Corp., Nippon Steel Corp., OCSiAl, Plastic Reinforcement Fabrics Ltd., SGL Carbon SE, SK Chemicals Co. Ltd., Solvay SA, TCR Composites, Teijin Ltd., and Toray Composite Materials America Inc. |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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