Global Carbon Prepreg Market - Segmented by Type, by End-user Industry, and Geography - Growth, Trends and Forecast (2018 - 2023)
The global carbon prepreg market is expected to register a moderate growth during 2018 to 2023 (the forecast period). North America dominated the market with a share of around 27%, followed by Europe and Asia-Pacific in 2017.
Increasing Demand from the Aerospace & Defense Sector
The increasing demand from the aerospace & defense sector is one of the major drivers for the growth of the carbon prepreg market. In the aerospace industry, carbon prepregs provide better thermal resistance, anti-corrosive properties, high tensile strength, reduced weight, and ease of molding into various shapes. Due to these specific properties, carbon fiber prepreg is chosen for primary and secondary structures of aircraft interiors, wind turbine blades, bicycle frames, golf shafts, tennis rackets, and others. The use of these prepregs in the interiors of major aircraft carriers, like Boeing and Airbus, among other prominent commercial aircraft is driving the the market during the forecast period. Furthermore, several prepreg manufacturers are signing agreements with aircraft manufacturers to cater to the increasing demand from aerospace & defense applications, which are expected to drive the demand for carbon prepreg, globally, over the forecast period.
Growing Demand from the Wind Energy Sector
Wind energy has undergone a paradigm shift, due to the efforts that have been made to reduce pollution from power generation. Although wind energy has been in use for many decades, the use of carbon prepregs has the potential to change the scenario altogether. Carbon prepregs, due to its properties, such as being lightweight, strength, and stiffness, are preferred by turbine manufacturers for manufacturing wind turbine blades. Thermoset prepregs are extensively used to manufacture wind turbine blades. Hence, the growing popularity of carbon prepregs in the wind energy sector is expected to boost the demand for carbon prepreg globally over the forecast period.
North America to Dominate the Market
North America dominated the carbon prepreg market, contributing to a share of around 27% in 2017. The aerospace & defense sector is the one of the promising sectors in the region. In defense applications, prepregs are used in ballistic and blast protection systems in armored vehicles and structural components for vehicles in the United States. In addition, major players in the United States are planning to increase their investments for the development of carbon prepregs, for use in newer applications in the energy sector, which is expected to increase the consumption of carbon prepregs in the coming years. Hence, the increased emphasis on the aerospace & defense sector, along with the growth of other end-users across the region, is expected to augment the growth of the global carbon prepreg market over the forecast market.
Notable Developments in the Market
October 2017: Hexcel Corporation completed the acquisition of Structil SA, a French manufacturer and supplier of high-performance composites to the aerospace, defense, and industrial markets.
December 2017: Hexcel acquired the Oxford Performance Material’s Aerospace & Defense Business.
Major Players: ACP Composites, Hexcel Corporation, Toray Industries, Inc., SGL Group—The Carbon Company, and Mitsubishi Rayon Co. Ltd, amongst others.
Reason to purchase this Report
Current and future global carbon prepeg market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in excel)
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