by Carbon prepreg offers advantages such as high strength-to-weight ratio, design flexibility, corrosion resistance, and recyclability. Carbon prepreg is majorly used in the aerospace & defense, wind energy, sports & leisure, and automotive industries.
The global Carbon Prepreg Market is estimated to be valued at US$ 8444.44 Mn in 2023 and is expected to exhibit a CAGR of 9.21% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
One of the primary trends driving the carbon prepreg market is the increasing demand from commercial aerospace applications. Carbon prepreg is extensively used to manufacture various lightweight composite parts in aircraft like floor panels, ceilings, wings, doors, and pressure bulkheads. As air passenger traffic is surging, several aircraft OEMs are increasing the production of both commercial and military aircrafts which is favoring the demand for carbon prepreg. Furthermore, ongoing research and development towards developing low-cost and high-performance carbon prepregs using advanced composite materials will open new avenues for market growth over the forecast period.
SWOT Analysis
Strength: Carbon prepreg has excellent mechanical properties like high strength and stiffness. It has lightweight property which increases the strength to weight ratio of composites.
Weakness: Carbon prepreg manufacturing process involves complex manufacturing process which increases the production cost. Volatility in raw material price also affects the cost of carbon prepreg.
Opportunity: Growing demand for lightweight and high performance material in aerospace and defense industry acts as a key growth opportunity. Increasing usage of carbon fiber composites in automotive industry due to stringent fuel emission norms also supports the market growth.
Threats: Availability of alternative composite materials like glass fiber, aramid fiber composites poses threat to carbon prepreg market. Economical natural fiber composites are gaining acceptance especially in developing countries.
Key Takeaways
The Global Carbon Prepreg Market Demand is expected to witness high growth, exhibiting CAGR of 9.21% over the forecast period, due to increasing demand for lightweight composite materials in end use industries like aerospace, automotive and wind energy industries.
Regional analysis
North America region dominates the global carbon prepreg market due to presence of major OEMs and tier players in aerospace industry. Europe holds second largest share in the carbon prepreg market due to extensive adoption in racing car components manufacturing industry. Asia Pacific exhibits fastest growth in carbon prepreg market led by China, Japan and India. Increasing foreign investment and growth of end use industries stimulates the demand of carbon prepreg in Asia Pacific region.
Key players
Key players operating in the Carbon Prepreg market are ACP Composites Inc., Kordsa Teknik Tekstil AS, 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.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
