[171 Pages Report] The carbon fiber prepreg market was valued at USD 3,861.0 million, in 2015, and is projected to reach USD 7,202.2 million by 2021 at a CAGR of 11.0% between 2016 and 2021. In this study, 2015 has been considered as the base year, while the forecast period is from 2016 to 2021.
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The key players operating in the carbon fiber prepreg market are SGL Group (Wiesbaden, Germany), Gurit Holding AG (Wattwil, Switzerland), Park Electrochemical Corporation (Melville, U.S.), Toray Industries, Inc. (Tokyo, Japan), Teijin Limited (Osaka, Japan), Royal TenCate N.V. (Almeo, Netherlands), Hexcel Corporation (Connecticut, U.S.), Cytec Solvay Group (Brussels, Belgium), Mitsubishi Rayon Co., Ltd. (Tokyo, Japan), and Axiom Materials (California, U.S.), among others. These players have adopted various organic and inorganic development strategies to strengthen their position in the market.
Drivers
Increasing demand for lightweight materials from the automotive industry
Growing carbon fiber demand from the wind energy industry
Increasing demand for carbon fiber prepreg from Boeing and Airbus
Restraint
High processing and manufacturing cost
Issues related to recyclability
Opportunities
Reduction in the cost of carbon fibers
Development of advanced software tools for carbon fiber prepreg product development
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Among resin types, the epoxy segment is leading the carbon fiber prepreg market, in terms of value.
The epoxy segment is leading the carbon fiber prepreg market, owing to increased use of epoxy resins in various applications, such as aerospace & defense, automotive, sports & leisure, and wind, among others. Epoxy resin-based carbon fiber prepregs offer high strength to weight ratio and increased resistance to heat, moisture, and corrosion. They require less maintenance and offer high durability.
Among applications, the aerospace & defense segment is leading the carbon fiber prepreg market, in terms of value and volume.
On the basis of application, the carbon fiber prepreg market has been segmented into aerospace & defense, automotive, sports & leisure, wind, and others. The aerospace & defense application segment is leading the carbon fiber prepreg market, in terms of value and volume. Carbon fiber prepregs are lightweight and offer resistance to moisture, chemicals, and corrosion. They have increased operational stability at high temperatures in comparison to materials made from other conventional materials, such as thermoset composites and metallic alloys. As such, carbon fiber prepregs are being increasingly used in the aerospace & defense industry, which, in turn, is fueling the growth of the aerospace & defense segment of the carbon fiber prepreg market.
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