Global Carbon Fiber Prepreg Market 2017-2021
About Carbon Fiber Prepreg
Carbon fibers are fibers composed mostly of carbon atoms and have a diameter of about 3-15 micrometers. The carbon atoms are bonded together in crystals, which are aligned parallel to the long axis of the fiber. This alignment gives the fiber a high strength-to-volume ratio. Prepregs are materials consisting of reinforcing fibers that are pre-impregnated with thermoset and thermoplastic resins. These products are cured under high temperature and pressure and have properties that can be useful for a wide range of applications. Carbon fiber prepreg materials are used in aerospace and defense, wind energy, sports, and automotive applications. Composite prepregs in various fields have increased substantially over the last 10 years.
Technavio’s analysts forecast the global carbon fiber prepreg market to grow at a CAGR of 10.62% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global carbon fiber prepreg market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Carbon Fiber Prepreg Market 2017-2021
Technavio recognizes the following companies as the key players in the global carbon fiber prepreg market: Cytec Solvay Group, Gurit, Hexcel, TEIJIN, and TORAY INDUSTRIES
Other Prominent Vendors in the market are: Axiom Materials, Dexcraft.com, DowAksa, ,Formosa Plastics Corporation, GMS COMPOSITES, HC Composite, Koninklijke Ten Cate, Mitsubishi Chemical Corporation, Nippon Graphite Fiber, Plastic Reinforcement Fabrics, SGL Group, SK chemicals, TCR Composites, andUNICARBON.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Population growth, urbanization, and growing power requirement. In recent years, the movement of population from rural to urban areas has been a cause of concern for many nations. This has led to improved living standards and people accepting urban lifestyles. This trend is being monetized by the automotive, construction, and general industrial sectors. The substantial expenditure is still considered insufficient to meet the needs of the infrastructure sector.”
According to the report, one of the major drivers for this market is Growth of wind power capacities. Wind energy is a low-cost renewable source of energy for the generation of electricity. The developed regions such as North America and Western Europe have accounted for the highest investments in the total wind power installations across the globe. Carbon fiber composites have high-potential applications in the wind energy sector, with turbine blades being the fastest-growing segment.
Further, the report states that one of the major factors hindering the growth of this market is High cost related to carbon composites. The manufacturing and processing of carbon fiber composites involve high R&D cost. Also, the testing of carbon fiber composites for applications such as aerospace and defense is time-consuming, expensive, and have long cycle process. The cost of carbon fiber composites is higher than metals and is eight times more when compared to steel, which restricts the market growth. An increase in the cost of raw materials such as resins and carbon fibers can lead to high procurement costs for vendors. The manufacturing cost and the R&D cost associated with the carbon-fiber composites can reduce the demand for carbon-fiber composites and can increase the demand for the substitute products. Polyacrylonitrile (PAN) is the raw material used to manufacture carbon-fiber composites, whose cost is very high when compared to its substitute such as steel. The high manufacturing cost associated with carbon-fiber composite is mainly due to the increased raw material cost. As carbon fiber composites are costly, OEMs will shift to cheaper alternatives, which will lower the demand for carbon fiber prepreg used in carbon fiber composites.
Cytec Solvay Group, Gurit, Hexcel, TEIJIN, TORAY INDUSTRIES, Axiom Materials, Dexcraft.com, DowAksa, ,Formosa Plastics Corporation, GMS COMPOSITES, HC Composite, Koninklijke Ten Cate, Mitsubishi Chemical Corporation, Nippon Graphite Fiber, Plastic Reinforcement Fabrics, SGL Group, SK chemicals, TCR Composites, andUNICARBON.
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