CARBON PREPREG MARKET ANALYSIS

The global carbon prepreg market size was valued at US$ 7,732.3 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 9.21% from 2023 to 2030. Carbon prepreg market is expected to witness significant growth over the forecast period owing to the increasing demand for lightweight and high strength material across end use industries. Besides, this lightweight material provides superior performance and excellent resistance to various environmental factors such as heat, water, and corrosion. This composite can be used to replace metals in manufacturing processes. The major driving factors for the market are escalating call for fuel-efficient vehicles and the high utilization of composite materials in aerospace, defense, wind energy, automotive, civil engineering, and sporting goods industries.

Global Carbon Prepreg Market: Regional Insights

Based on geography, the global carbon prepreg market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The Europe region is one of the leading markets in the global carbon prepreg industry due to their superior mechanical properties, high strength-to-weight ratio, and durability. They are also widely used in the manufacturing of aerospace components, automobiles, and wind turbine parts. Furthermore, the rapid expansion of automobile production in countries, such as Germany and Spain, is expected to propel growth of the European market for carbon prepregs.

The Asia Pacific region in carbon prepregs market is projected to grow at a significant rate, owing to the growing demand for advanced composite materials from various end use industries. The growth of the Asia Pacific market is expected to be driven by the expanding automobile manufacturing sector, the increased utilization of advanced composite materials, and the rising installation of offshore wind farm projects in the region.

Figure 1. Global Carbon Prepreg Market, By Region 2022

To learn more about this report, Request sample copy

Global Carbon Prepreg Market Drivers:

Growing preferences for green energy sources is fostering market growth

Wind energy is one of the largest applications for carbon prepregs, mainly due to increasing environmental concerns and regulations. The use of carbon fiber composites is growing in the wind energy industry. These materials have excellent thermal and mechanical properties, and they are light weight as compared to other types of materials. In addition to this, they offer superior corrosion resistance and lower maintenance cost than traditional metals.

Increasing demand for CFRP components to augment market growth

Carbon prepreg is a material that is used in the manufacturing of fiber reinforced polymer (FRP) components. Prepregs are fiber reinforcements that have been pre-impregnated with a resin system, usually under pressure or temperature. They are available with a range of different weave patterns, fiber types and hardening agents. Typical uses of carbon prepreg include optical applications, structural parts and flame-retardant composite components. The use of this material is growing due to its superior strength, toughness and flexibility properties that help reduce weight and increase performance.

Global Carbon Prepreg Market Opportunities:

Increasing use of carbon prepreg in electronic sector is expected to provide significant growth opportunities. Carbon prepregs is gaining acceptance in electronic application as they are a great way for fabricators to get the most out of their materials. This is because the prepregs can be fabricated with an optimized fiber to resin ratio for peerless mechanical performance. For example, the tensile strength of a carbon fiber prepreg can be up to 50% higher than a comparable laminated part made with a standard polyester resin. This gives the carbon fiber prepreg a high resistance to bending, stretching and other common manufacturing stresses.

Prepregs can also help manufacturers achieve high levels of process and part quality control for complex components that require the highest levels of precision in manufacturing process. These advantages are particularly important for aerospace & defence, automotive and wind industry applications. Such advantages associated with the Carbon prepregs is expected to hold potential market opportunities.

Global Carbon Prepreg Market Trends:

Increasing scope of carbon prepreg in wood working sector

Carbon prepreg are used as a resin and a curing agent to produce a composite laminated material with high strength. It offers improved carbon fiber prepregs that have excellent adhesion to wood and are flexible and have a longer usable time, so that they can be used for a wide range of applications.

Growing popularity in sports industry

The polymer used for the composites is often a glass, carbon, or aramid based material. Depending on the end use, these materials can be infused, layered, or coated with epoxy resin, phenolic resin, polyurethane, polypropylene, vinyl ester, silicone, or PTFE. These material can be used to manufacture sports goods, such as bicycles, tennis rackets, golf shafts, and fishing rods.

Global Carbon Prepreg Market Restraints:

High processing and manufacturing cost to hamper market growth

The market of carbon prepreg is witnessing negative growth slope due to high manufacturing and processing cost associated with it. Also, challenges associated with the recyclability is expected to hamper the market growth.

Decline in demand from luxury car segment to restrict market growth     

There is a decline in demand for carbon prepreg from luxury car segment which is expected to restrict the market growth. However, increasing focus of key players for developing low-cost technology will favor the market growth in the near future.       

Figure 2. Global Carbon Prepreg Market , By Resin Type 2022

To learn more about this report, Request sample copy

Global Carbon Prepreg Market Segmentation:

The global carbon prepreg market report is segmented into resin type, end user industry, and geography

Based on resin type, the market is segmented into Thermoset and Thermoplastic. Out of which, Thermoset is expected to dominate the global market over the forecast period. They are the most commonly used prepreg in the production of composite as they do not melt under heat. They provide high mechanical properties of the composite by offering a better resistance to harsh chemicals along with the overall improvement of integrity.

Thermoplastic segment is also expected to witness significant growth in the near future and this is owing to the their advantages such as ability to reheat and reform the material multiple times by heating above the melting point of the thermoplastic matrix.

Based on end user industry, the market is segmented into Aerospace and Defense. Energy, Automotive, Leisure, Electronics, and Other End user Industries. Out of which, Aerospace and Defense is expected to dominate the global market over the forecast period and this is attributed to their excellent properties, such as stiffness, high strength, heat and chemical resistivity which allow them to be used in aerospace and defense applications.

Energy segment is also expected to witness significant growth in the near future. The use of carbon fiber composites is growing in the wind energy industry. These materials have excellent thermal and mechanical properties, and they are light weight as compared to other types of materials. In addition to this, they offer superior corrosion resistance and lower maintenance cost than traditional metals.

Global Carbon Prepreg Market: Key Developments

In July 2019, Kordsa  Teknik  Tekstil  AŞ  completed  the acquisition of US-based Axiom Materials. This acquisition was worth USD 181 million.

In March 2019, Hexcel and Arkema announced a joint research and development laboratory to develop carbon fiber-reinforced thermoplastic prepreg tapes in Les Avenières (Isère), France.

In December 2019, Park Aerospace Corp. announced that it started the development of a 90,000 sq. ft expansion of its manufacturing and development facilities located at the Newton City-County Airport in Kansas.

Global Carbon Prepreg Market: Key Companies Insights

The global carbon prepreg market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global carbon prepreg market are ACP Composites Inc., Kordsa Teknik Tekstil AŞ, Barrday, Gurit, Hexcel Corporation, Lingol Corporation, Mitsubishi Chemical Carbon Fiber and Composites Inc., Park Aerospace Corp., Sgl Carbon, Solvay, Teijin Limited, The Yokohama Rubber Co. Ltd, Toray Industries Inc., And Zyvex Technologies

*Definition: Prepregs are composite materials that have been infused, layered or coated with resin prior to cutting and manufacturing. The resin, which depends on the type of end use application, is then cured by a combination of heat and pressure to create a final product. Compared to traditional infusion and layup methods, the use of prepregs carbon is a low-cost solution to fabricating parts. It can increase the output of a fabricator's facility, decrease labor, and make better use of its operational footprint while reducing drive unit costs.