Carbon Fiber Prepreg Market

Carbon Fiber Prepreg Market Size (2023-2028)

The carbon fiber prepreg Market is estimated to grow from USD 7.5 billion in 2022 to USD 12.6 billion by 2028, at a CAGR of 11.2% during the forecast period 2023-2028

Some of the reinforcements used for the prepreg are glass, carbon, and aramid fibers. Higher specific stiffness, specific strength, greater corrosion resistance, and faster manufacturing are driving the growth of the carbon fiber prepreg market. The prepreg has a high strength-to-weight ratio, high corrosion and fatigue resistance, and fire resistance, therefore it is favorable for commercial and industrial applications. Carbon fiber prepreg is created by prepreg fibers, which include glass, carbon, and aramid in a matrix material. They exhibit greater operational stability at elevated temperatures compared to materials made from other conventional materials, such as thermosetting composites and metal alloys.

Prepregs are made by two processes: hot melt and solvent immersion. This is accomplished by coating a thin film of heated resin on a paper substrate. The reinforcing material and the resin can interact in the prepreg machine. After the application of pressure and heat, the resin is impregnated into the fiber, resulting in the final prepreg, which is wound into a core. In the solvent-soaking process, fabric prepregs are produced by dissolving the resin in a solvent bath and dipping the reinforcing fabric into the resin solution. The solvent is then evaporated from the prepreg using a drying oven. Industries such as aerospace and defense, wind power, sports, and the automotive industry are the main end-users of carbon fiber prepregs.

Drivers & Restraints in the Carbon Fiber Prepreg Market:

The major drivers for the development of the carbon fiber prepreg market are the escalating call for fuel-efficient vehicles and the escalating utilization of carbon fiber prepregs in the aerospace, defense, and wind industries. In addition, the strong demand from the aerospace industry and the user-friendly and environmentally friendly characteristics of the composite are driving the growth of the global carbon fiber prepreg market. The epoxy resin type segment of the carbon fiber prepreg market is expected to experience significant growth due to its higher operational stability at high temperatures and pressures, as well as better impact resistance. In addition, they are cheaper compared to other resins. The hot melt manufacturing process segment is expected to grow due to its ability to produce unidirectional prepreg fabric and carbon fiber.

The main constraint in the global carbon fiber prepreg market is the high processing and manufacturing costs and issues related to recyclability.

CARBON FIBER PREPREG MARKET REPORT COVERAGE:

Carbon Fiber Prepreg Market Segmentation:

Carbon Fiber Prepreg Market - By Resin Type:

• Epoxy resin 

• Phenolic resin 

• BMI resin 

• Cyanate ester resin

• Thermoplastic resin

• Others

Epoxy resins dominate the general dry carbon fiber market, as they are widely applicable in aerospace and defense, automotive, sports and recreation, wind power, and other industries. The cost of processing epoxy resins is high for various end applications; which makes them very expensive. However, due to their rigid nested molecular structure, inert chemical composition, and resistance to UV rays and chemical attacks, epoxy resins are very durable. Carbon fiber-reinforced epoxy resin is mainly used in the aerospace, defense, and automotive industries. It also has a faster cure time compared to other thermosetting resins, making it the preferred choice of automotive manufacturers.

Carbon Fiber Prepreg Market - By Manufacturing Process:

• Hot melt process

• Solvent DIP process

Both unidirectional and fabric prepregs can be produced using the hot-melt process, increasing market share. The hot melt manufacturing process segment is expected to experience significant growth in value and volume due to the ability of the hot melt manufacturing process to produce both fabric and unidirectional carbon fiber prepregs.

Carbon Fiber Prepreg Market - By Application:

• Aerospace and defense

• Automotive

• Sports and leisure

• Wind energy

• Others

The aerospace and defense industry represented a significant share of the market, in terms of value and volume. This is due to the increased production of Boeing and Airbus planes. Boeing and Airbus forecast demand for around 9,200 new wide-body aircraft over the next 25 years. The use of carbon fiber prepreg in narrow-body aircraft is also growing. According to The Teal Group, aircraft production is expected to grow 6.2 percent annually, from an estimated market size of $ 172 billion in 2021 to $ 228 billion in 2026.

Carbon Fiber Prepreg Market - By Region

• North America
• Europe 
• Asia Pacific 
• Latin America 
• Middle east and Africa 

Europe dominated the world market. Germany leads the European automotive market, with 42 engine production and assembly plants contributing one-third of total automotive production in Europe.

Germany, which is one of the major manufacturing bases of the automotive industry, is home to manufacturers from different segments, such as OEMs, material and component suppliers, engine manufacturers, and complete system integrators. Germany, which is one of the major manufacturing bases of the aviation industry, is home to manufacturers from different segments, such as OEMs, material and component suppliers, engine manufacturers, and complete system integrators.

The country is home to numerous production bases for aircraft interior components, MRO (maintenance, repair, and overhaul), and construction and lightweight materials, mainly in Bavaria, Bremen, Baden-Württemberg, and Mecklenburg-Vorpommern. It is estimated that more than 30 to 36,000 new aircraft will be operational over the next 25 years to meet growing aviation demand. Therefore, the increase in aircraft production is also expected to contribute to the growth of the market during the forecast period.

Carbon Fiber Prepreg Market Key Players

1. SGL Group

2. Solvay SA

3. Gurit Holdings AG

4. Toray Industries

5. Park Electrochemical Corporation

6. Hexcel Corporation

7. Mitsubishi Rayon Co. Ltd

8. Axiom Materials, etc

Recent Developments in the Carbon Fiber Prepreg Market Industry:

Toho Tenax launches a hybrid prepreg that combines carbon fiber and CNT technology - The new high strength, high impact strength prepreg incorporates carbon fiber developed for aerospace applications and specialized carbon nanotubes - Technology Toho Tenax-Archive CNT Carbon Prepreg Hybrid fiber. prepreg is a sheet of carbon fiber prepreg with a matrix resin used as an intermediate material for carbon fiber-reinforced plastics.

Airtech launched new carbon fiber prepregs. Airtech Advanced Materials Group (Huntington Beach, CA, USA) showcased their new line of LTC3 carbon prepregs, which would offer low-temperature curing and high-temperature use after post-curing, as well as the use of master cast materials at a lower cost. According to Airtech, the new prepregs minimize the effects of thermal expansion and provide greater tool precision and less reworking of tools/parts.

PRF launched a new epoxy prepreg. PRF Composites, a UK specialist in composites, has developed a new highly cured epoxy prepreg system. It has a Tg of 195 ° C (DMA) and excellent mechanical properties in tension, ILS, and bending.

COVID–19 Impact on the Carbon Fiber Prepreg Market

The staggering ramifications of the COVID-19 pandemic have affected all of us. Global personal losses are nothing short of devastating and preventative measures such as widespread closures and physical distancing, while necessary, have completely transformed our daily reality into what may seem like a surreal nightmare. The vast economic effect of the coronavirus is not yet known and may not be fully considered for some time. COVID-19 can influence the worldwide economy in 3 major ways: directly affecting production and demand, creating disruption in the supply chain and market, and through its financial impact on businesses and financial markets.