Global Carbon Fiber Prepreg Market Report 2023: Reduction in Cost of Carbon Fiber Presents Opportunities

DUBLIN, Feb. 21, 2023 /PRNewswire/ -- The "Global Carbon Fiber Prepreg Market by Resin Type (Epoxy, Phenolic, Thermoplastic, BMI, Polyimide), Manufacturing Process (Hot Melt, Solvent Dip), End-use Industry (Aerospace & Defense, Automotive, Sports & Recreation, Wind Energy), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global carbon fiber prepreg market is expected to grow from USD 9.7 billion in 2022 to USD 18.9 billion by 2027, at a CAGR of 14.2% during the forecast period. Carbon fiber prepregs have properties such as self-adhesiveness, flame retardancy, high service temperatures, high strength, high rigidity, lightweight, and so on.

Each type of carbon fiber prepreg provides specific characteristics suitable for different conditions. Carbon fiber prepreg is mainly used for manufacturing components in aerospace & defense, automotive, sporting & recreation, wind, and other industries.

Hot melt manufacturing process is the fastest-growing manufacturing process of carbon fiber prepreg, in terms of value

The global carbon fiber prepreg market is categorized based on the manufacturing process into hot melt and solvent dip processes. The hot melt process is dominantly used as the machinery required to perform the hot melt process is less complex than the machinery used in the solvent dip process. Furthermore, this process is less hazardous, and no organic solvents are consumed or emitted during operations.

Phenolic is the second-fastest-growing resin type of carbon fiber prepreg, in terms of value

Phenolic resin is expected to grow significantly in upcoming years. Phenolic resin is lighter than steel and is also 20 - 30% lighter than flame and smoke retardant polyester and vinyl ester resins. Some of the major applications of phenolic resin in the aerospace & defense industry includes ceiling panels, engine nacelle, side wall panels, galleys, floor panels, and many more. In automotive and rail industries, carbon fiber prepregs get widely used in rail interiors, lightweight car bodies, and racing car monocoque.

Automotive is the fastest-growing end-use industry of carbon fiber prepreg, in terms of value

The market for carbon fiber prepreg is segmented into the end-use industry as aerospace & defense, automotive, sports & recreation, wind energy, and others. In terms of value, the carbon fiber prepreg market in the automotive sector is projected to register the highest CAGR during the forecasted period. This is due to the high demand for carbon fiber prepreg for electric and high-end racing cars manufactured by BMW, Lamborghini, Chevrolet, etc. In the electric cars category, apart from the BMW i3 and i8, BMW has also used carbon fiber implants in its next-generation 7-Series sedan.

Europe is the fastest-growing carbon fiber prepreg market

Europe is the fastest-growing and the biggest market for carbon fiber prepreg. The market in the region is driven by the demand from aerospace & defense, automotive, and wind energy industries. Carbon fiber prepreg is widely used in the aerospace & defense industry, and the presence of large aircraft manufacturers such as Airbus (France) and Boeing (US) in this region has made it the biggest market for carbon fiber prepreg.

Market Dynamics

Drivers

• Increasing Use of Carbon Fiber Prepreg in Electric Cars
• Increasing Use of ATF and AFP Technologies for Manufacturing Aircraft Primary Structures
• Demand for Larger Wind Turbines
• Increasing Commercial Aircraft Production

Restraints

• High Processing and Manufacturing Cost
• Limitation in Use of Carbon Fiber Prepreg in High-Temperature Aerospace Applications
• Decline in Demand from Luxury Cars Segment

Opportunities

• Reduction in Cost of Carbon Fiber
• Development of Advanced Software Tools for Carbon Fiber Prepreg Product Development

Challenges

• High Research and Development Cost
• Capital-Intensive and Complex Manufacturing Process of Carbon Fiber

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Carbon Fiber Prepreg Market, by Manufacturing Process
6.1 Introduction
6.2 Hot Melt Process
6.3 Solvent Dip Process

7 Carbon Fiber Prepreg Market, by Resin Type
7.1 Introduction
7.2 Epoxy Resin
7.3 Phenolic Resin
7.4 Thermoplastic Resin
7.5 Bismaleimide Resin
7.6 Polyimide Resin
7.7 Other Resins

8 Carbon Fiber Prepreg Market, by End-use Industry
8.1 Introduction
8.2 Aerospace & Defense
8.3 Wind Energy
8.4 Sports & Recreation
8.5 Automotive
8.6 Others

9 Carbon Fiber Prepreg Market, by Region

10 Competitive Landscape

11 Company Profiles

12 Appendix

Companies Mentioned

• 3A Associates Incorporated
• ABC Composites
• Axiom Materials, Inc.
• Barrday Inc.
• Dexcraft
• GMS Composites
• Gurit Holding AG
• Hankuk Carbon
• Hexcel Corporation
• Kineco Limited
• Mallinda, Inc.
• Mitsubishi Chemical Carbon Fiber and Composites, Inc.
• North Thin Ply Technology
• Park Aerospace Corp.
• Plastic Reinforcement Fabrics Ltd.
• Rock West Composites, Inc.
• Rockman Advanced Composites
• SGL Carbon
• Sichuan Xinwanxing Carbon Fiber Composites Co. Ltd.
• Solvay
• Taiwan First Li-Bond Co. Ltd.
• TCR Composites
• Teijin Limited
• Toray Industries Inc.
• Weihai Guangwei Composites Materials Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/asdo7m-carbon?w=5

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