Global carbon fiber prepreg market is anticipated to grow appreciably in the forecast period of 2028 due to the
The United Kingdom, United States, and Italy are top exporters of carbon fiber prepreg worldwide.
Carbon fiber prepregs are extensively used in the aerospace and defense industry. They are employed in the manufacturing of aircraft components, including wings, fuselages, empennage structures, and interior parts. The lightweight nature of carbon fiber prepregs contributes to fuel efficiency, increased payload capacity, and improved performance of aircraft. In defense applications, they are used in military aircraft, helicopters, unmanned aerial vehicles (UAVs), and ballistic protection systems. Carbon fiber prepregs also uncover its application in the automotive industry to produce lightweight and high-performance components. They are used in the manufacturing of body panels, chassis structures, interior parts, and suspension components. By reducing the weight of vehicles, carbon fiber prepregs help improve fuel efficiency and reduce carbon emissions. The adoption of these materials is particularly prominent in high-end sports cars and electric vehicles (EVs) due to their emphasis on performance and range.
Carbon fiber prepregs are extensively used in the production of sporting goods and equipment, such as bicycles, golf clubs, tennis rackets, hockey sticks, and fishing rods. These materials provide superior strength, stiffness, and impact resistance, enabling the production of high-performance sports equipment. The lightweight nature of carbon fiber prepregs allows athletes to achieve better control, maneuverability, and overall performance. Moreover, the marine industry utilizes carbon fiber prepregs for various applications, including boat building, yacht construction, and marine components. Carbon fiber prepregs offer high strength and corrosion resistance, making them suitable for hulls, decks, masts, and other structural parts. Their lightweight properties contribute to fuel efficiency and speed in marine vessels. Owing to its lightweight and high-strength properties, the carbon fiber prepreg is widely used in different applications and drives the global carbon fiber prepreg market growth.
Bolstering Wind Energy Sector is Propelling Factor for
Carbon fiber prepregs contribute to the improved efficiency of wind turbines. By using carbon fiber prepregs in blade manufacturing, turbine manufacturers can design longer and more aerodynamic blades. Longer blades capture more wind energy, resulting in higher energy generation. As wind energy projects aim to maximize energy output and minimize costs, carbon fiber prepregs become crucial in achieving these objectives.
Wind turbine blades are subject to continuous cyclic loading and harsh environmental conditions, including wind, rain, and temperature variations. Carbon fiber prepregs offer excellent durability and fatigue resistance, ensuring the longevity and reliability of wind turbine blades. The utilization of carbon fiber prepregs helps extend the lifespan of blades, reducing maintenance and replacement costs.
Advancements in wind turbine technology, such as larger rotor diameters and higher hub heights, have led to increased requirements for longer and stronger blades. Carbon fiber prepregs provide the necessary strength and lightweight characteristics to meet these demands. Ongoing research and development in wind energy technology drive innovations in carbon fiber materials and manufacturing processes, further propelling the growth of the carbon fiber prepreg market.
Governments worldwide are implementing supportive policies and setting renewable energy targets to reduce carbon emissions and combat climate change. These initiatives promote the expansion of wind energy capacity, creating a favorable market environment for carbon fiber prepregs. The demand for clean and sustainable energy sources drives investments in wind energy projects, thereby increasing the requirement for carbon fiber prepregs.
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Growing Demand from Light Weight Vehicles
Electric car markets are predicting exponential growth as sales surpassed 10 million EV cars in 2022. A total of 14% of the new cars sold worldwide were electric in 2022.
Carbon fiber prepregs offer exceptional strength and stiffness properties, enhancing vehicle performance and safety. They can be used in critical structural components, such as body frames and crash structures, to improve impact resistance and occupant protection. Carbon fiber prepregs provide high energy absorption capabilities, making them valuable for crashworthiness and structural integrity. The demand for lightweight vehicles with superior performance and safety attributes drives the need for carbon fiber prepregs. Carbon fiber is often associated with luxury and high-performance vehicles due to its premium aesthetics and performance characteristics. Luxury automakers and manufacturers of high-performance sports cars utilize carbon fiber prepregs extensively to achieve lightweight designs without compromising on strength and rigidity. The demand for luxury and high-performance vehicles continues to grow, contributing to the increased use of carbon fiber prepregs in the automotive industry.
Furthermore, continuous advancements in carbon fiber manufacturing technologies, such as automated lay-up processes and resin infusion techniques, have made carbon fiber prepregs more accessible and cost-effective. These advancements have reduced production complexities, improved manufacturing efficiency, and lowered the overall cost of carbon fiber prepregs. As a result, automotive manufacturers are increasingly incorporating carbon fiber prepregs in their production processes, further driving the market growth. Apart from these, consumers are increasingly seeking vehicles that offer better fuel efficiency, advanced technologies, and sustainability features. Lightweight vehicles made with carbon fiber prepregs align with these consumer preferences. Additionally, automakers differentiate their brands by incorporating carbon fiber components, showcasing their commitment to innovation, performance, and environmental responsibility. This drives the demand for carbon fiber prepregs as automakers strive to meet consumer expectations and market trends. Hence, automotive manufacturers are increasingly integrating carbon fiber prepregs into their vehicle designs, leading to the continued growth and expansion of the carbon fiber prepreg market.
Recent Developments
- In 2018,
Toray Industries, acquired Tencate Advanced Composites, a Dutch manufacturer of
thermoplastic and thermoset composites. The deal, valued at USD 1006.11 million,
will strengthen Toray's position in the aerospace and automotive markets and
expand its product portfolio and geographical reach.
- In 2019,
Mitsubishi Chemical Corporation (MCC), acquire two European companies that
specialize in carbon fiber recyclingCFK Valley Stade Recycling GmbH & Co.
KG (CFK) and carboNXT GmbH (carboNXT). The acquisition is expected to expand MCC's
carbon fiber business and contribute to a circular economy by utilizing the
recycling technologies and networks of CFK and carboNXT.
Market Segmentation
Company Profiles
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Attribute
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Details
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Base
Year
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2022
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Historic
Data
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2018 –
2021
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Estimated
Year
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2023
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Forecast
Period
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2024
– 2028
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Quantitative
Units
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Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
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Report
Coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments
Covered
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Manufacturing
Process
Resin
Type
End
Use Industry
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Regional
Scope
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North America, Europe, Asia Pacific, South America, Middle
East & Africa
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Country
Scope
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United States, Mexico, Canada, Germany, Spain, United Kingdom,
France, Italy, Russia, China, India, Japan, Australia, Brazil, Colombia, Argentina,
South Africa, Saudi Arabia, and UAE.
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Key
Companies Profiled
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Mitsubishi Rayon Co. Ltd., Solvay SA, Teijin Limited, BASF SE,
Toray Industries Inc., Hexcel Corporation, Gurit Holding Ag, SGL Carbon SE,
Park Electrochemical Corporation, and Axiom Materials, Inc.
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Customization
Scope
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10% free report customization with purchase. Addition or alteration
to country, regional & segment scope.
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Pricing
and Purchase Options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery
Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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