What Has Been the Growth Trajectory of the Carbon Fiber Prepreg Market?
The carbon fiber prepreg market has seen considerable growth due to a variety of factors.
• The size of the carbon fiber prepreg market has experienced substantial growth recently. The market is projected to rise from $10.43 billion in 2024 to $11.45 billion in 2025, registering a compound annual growth rate (CAGR) of 9.8%. The growth observed in the past years is due to heightened demand from the aerospace sector, the trend of lightweighting in the automotive industry, usage in sports and leisure activities, an upsurge in wind energy, and a high strength-to-weight ratio.
What Is The Expected Growth In The Carbon Fiber Prepreg Market Size Evolve over the Forecast Period?
The Carbon Fiber Prepreg market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of carbon fiber prepreg is projected to experience significant expansion in the upcoming years, escalating to $16.98 billion in 2029 with a compound annual growth rate (CAGR) of 10.3%.
The surge over the projected period is influenced by the growing consumption in electric cars, infrastructural advancements in developing economies, extension in green energy projects, augmented aerospace budgets, and the global emphasis on eco-friendly materials. Key trends through the prediction period encompass the creation of hybrid composite materials, the incorporation of automation and robotics in manufacturing, renewable energy sector assimilation, advancements in production processes, and extensive utilization in 3D printing.
What Main Forces Are Fueling Expansion In The Carbon Fiber Prepreg Market?
The growth of the carbon fiber prepreg market is anticipated to be propelled by the continuous expansion of the automotive industry. The automotive industry comprises the production and selling of motor vehicles. Due to their outstanding mechanical properties, light weight, resistance to temperature and chemicals, and superior structural performance for vehicles, carbon fiber prepregs are extensively employed in the high-end automotive sectors across the globe. These are also used in racing cars and motorcycles, sports and recreation, and the industrial sectors. As per the data released by the European Automobile Manufacturers Association in June 2023, nearly 13 million Europeans, or 7% of all EU jobs, work in the automotive industry. This sector comprises 11.5% of EU manufacturing jobs, equivalent to around 3.4 million roles. In terms of product output, the EU annually churns out 13.1 million units of cars, vans, trucks, and buses, positioning itself as a key industry. The European auto sector generates a €101.9 ($110.42) billion trade surplus, courtesy of its high-quality Made in Europe products. As such, the growing automotive industry acts as a catalyst for the expansion of the carbon fiber prepreg market.
What Are The Primary Segments In The Global Carbon Fiber Prepreg Market?
The carbon fiber prepreg market covered in this report is segmented –
1) By Type: Thermoset, Thermoplastic
2) By Manufacturing Process: Hot Melt, Solvent Dip
3) By Resin: Phenolic, Epoxy, Bismaleimide, Polyimide, Cyanate Ester, Polyether Ether Ketone(PEEK), Other Resin
4) By End User: Aerospace And Defense, Automotive, Wind Energy, Sports And Recreation, Other End Users
Subsegments:
1) By Thermoset: Epoxy Prepreg, Polyamide Prepreg, Phenolic Prepreg
2) By Thermoplastic: Polyetheretherketone (PEEK) Prepreg, Polyamide (PA) Prepreg, Polypropylene (PP) Prepreg
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Which Key Trends Are Driving Changes In The Carbon Fiber Prepreg Market?
A prominent emerging tendency in the carbon fiber prepregs market involves significant product innovations. Large corporations in this sector are debuting cutting-edge products to maintain their competitive edge. For instance, in September 2022, Solvay, an American manufacturer specializing in materials, chemicals, and various solutions, introduced the LTM 350. This advanced carbon fiber epoxy prepreg tooling material aims to provide substantial time and cost efficiencies for industries such as aerospace, automotive, and race car manufacturing. The LTM 350 stands out due to its swift, low-temperature cure cycle that can consistently perform at temperatures up to 150 °C, and it’s ability to create highly precise composite parts.
Who Are the Key Players In The Carbon Fiber Prepreg Market?
Major companies operating in the carbon fiber prepreg market include:
• Toray Industries Inc.
• Teijin Limited
• Hexcel Corporation
• Solvay
• Mitsubishi Chemical Carbon Fiber and Composites
• Inc.
• Gurit Holdings AG
• SGL Carbon
• Park Aerospace Corp.
• Axiom Materials
• Inc.
• ZOLTEK Group
• Royal TenCate N.V.
• Dexcraft
• Rock West Composites
• Mallinda
• Weihai Guangwei Composites Materials
• Sichuan Xinwanxing Carbon Fiber Composites
• Cytec Solvay Group
• Victrex plc
• Barrday Corporation
• GL Group
• GLT Group
• Formosa Plastics Corporation
• Carbon Fiber Technologies
• Inc.
• Advanced Composite Materials
• Composite Resources
• Inc.
• Kordsa Teknik Tekstil A.S.
• Jushi Group Co.
• Ltd.
• Jiangsu Hengshen Co.
• Ltd.
• Shanghai Aerospace Composite Materials Co.
• Ltd.
• Hexion Inc.
• and TenCate Advanced Composites
What Is The Most Dominant Region In The Carbon Fiber Prepreg Market?
Europe was the largest region in the carbon fiber prepreg market in 2024. The regions covered in the carbon fiber prepreg market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
