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Carbon Fiber Prepreg Market Share, Demand by Regions, Types and Analysis of Key Players- Global Forecasts to 2023

iCrowdNewswire   Jan 5, 2021  6:00 PM ET

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Synopsis of Carbon Fiber Prepreg Market

Prepreg are a type of composite fibers which consists of a thermoset polymer material. Carbon fiber prepreg is a fiber material that is pre-impregnated with catalyzed resins. The manufacturing of these carbon fibers requires vacuum bagging supplies, composite vacuum pumps, and high thermal stable molds. These fibers require a very low temperature of around -20 º C to prevent it from getting cured before the application. The two major methods used in the synthesis of carbon fiber prepreg are hot melt process and solvent dip process. The advantages such as high tensile strength, chemical resistance, and lightweight makes it suitable for many end-use industries such as aerospace, automobile, and wind turbine industries among others.

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The growing demand for carbon fiber prepreg in the end user industries is the major factor driving the market growth during the forecast years. Moreover, the growing demand for fuel efficient car, along with the growing investment in the renewable energy sector is substantially contributing to the growth of the carbon fiber prepreg market.  Among the various resin segments in carbon fiber prepreg market, the epoxy resin segment is the leading one and is expected to continue its dominance over the forecast period. The properties such as high strength to weight ratio and enhance heat corrosion and moisture resistance of epoxy resin makes them suitable for applications such as aerospace, defense, sports & leisure, and wind among others. Among the end use industry aerospace & defense is the leading segment owing to the high performance stability of carbon fiber prepreg than other conventional materials.

Market Segmentation

The global carbon fiber prepreg market is segmented into resin type, manufacturing process and end user industry. On the basis of the resin type, the market is segregated into epoxy resin, phenolic resin, BMI resin, cyanate ester resin, thermoplastic resin and other resins. The market by manufacturing process is segmented into hot melt manufacturing process and solvent dip manufacturing process. The market by end user industry is further categorized into automotive, aerospace & defense, sports & leisure, wind energy, and others.

Regional Analysis

The global carbon fiber prepreg market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, North America followed by Asia Pacific holds the major share of the market and is expected to continue the dominance during the forecast years. The presence of the most populated countries of the world such as India and China has augmented the demand for various sectors such as the sports & leisure products and automobile in turn adding to the market growth. Carbon Fiber Prepreg is extensively used in the production of bicycles, fishing rods, tennis rackets, and golf shafts among others. Moreover, the growing installation of wind energy capacity mainly in China and India to augmented the power sector also positively effecting the growth of the market.

The North American carbon fiber prepreg market is mainly driven by the U.S. and Canada. The presence of the developed end-user industries such as automotive and aerospace coupled with the increasing adoption rate is contributing significantly to the growth of the market. Moreover, the growing investment in the wind energy and defense sector is further expected to add fuel to the growth of the market.

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