Product Code: 49032
The carbon prepreg market is expected to register a CAGR of over 6%, during the forecast period. Increasing demand from the aerospace and defense sector is one of the major factors that is driving the market. However, storage temperature restriction is expected to hinder the growth of the carbon prepeg market.
- The automotive sector dominated the market and is expected to grow during the forecast period.
- Increasing application in the electronics industry is likely to act as an opportunity in the future.
- North America dominated the market across the world, with a share of over 30%, followed by Europe and Asia-Pacific.
Key Market Trends
Increasing Applications from the Automotive Industry
- Carbon prepregs have experienced widespread use in the automotive industry, owing to their high strength-to-weight ratios, corrosion resistivity, and workability features. They are replacing metals in various automotive applications due to their light-weight but tough features, which contributes to lesser fuel consumption.
- Automotive manufacturers, such as BMW, Mercedes-Benz, McLaren, Chevrolet, and Lamborghini have committed themselves to increase the usage of carbon fiber, such as CFRP components in their vehicles, as they contribute to the reduction in weight.
- Companies, such as Daimler and Toray Industries provide CFRP automotive parts to their consumers. In recent times, more automotive companies are forming close partnerships with carbon fiber manufacturers to conduct research and realize the dream to commercialize automotive CFRPs.
- Carbon fiber manufacturers, such as Oak Ridge National Laboratory's (ORNL) carbon fiber composites consortium is well connected with various OEM manufacturers, tier-one players, and various other major material suppliers in the industry.
- In the automotive industry, the use of such materials is found in front bumpers, splitters, fenders, wheel arches, brake ducts, bonnets, vents, roofs, and door liners to name a few.
- With the growing automotive industry and the increasing need for materials that will help to save fuel consumption, the market for carbon prepreg is expected to continue to increase during the forecast period.
North America to Dominate the Market
- North America dominated the carbon prepreg market, contributing to a share of more than 30%. The aerospace and defense sector is 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 to this, 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.
- The United States is the second-largest producer of automobiles in the world. The production of automobiles in the country had recorded a robust growth in the past. However, the growth decreased by almost 8.13% recently, due to the excess inventory and low demand for passenger cars.
- Hence, the increased emphasis on the aerospace and defense sector and automobile industries, 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.
The carbon prepreg market is partially consolidated among the leading players, with the top-five players accounting for a major chunk of the market share. Major recognized players include Axiom Materials, Teijin Limited, Hexcel Corporation, Toray Industries, and Mitsubishi Chemical Carbon Fiber and Composites.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Emphasis on Green Energy Sources (Wind Energy Sector)
- 4.1.2 Preferred Material for CFRP Components
- 4.1.3 Increasing Demand from the Aerospace and Defense Sector
- 4.2 Restraints
- 4.2.1 Storage Temperature Restrictions
- 4.2.2 Autoclave and Maintenance Constraint
- 4.3 Industry Value Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Patent Analysis
5 MARKET SEGMENTATION
- 5.1 Resin Type
- 5.1.1 Thermoset
- 5.1.2 Thermoplastic
- 5.2 End-user Industry
- 5.2.1 Aerospace and Defense
- 5.2.2 Energy
- 5.2.3 Automotive
- 5.2.4 Leisure
- 5.2.5 Electronics
- 5.2.6 Other End-user Industries
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 18.104.22.168 China
- 22.214.171.124 India
- 126.96.36.199 Japan
- 188.8.131.52 South Korea
- 184.108.40.206 Rest of Asia-Pacific
- 5.3.2 North America
- 220.127.116.11 United States
- 18.104.22.168 Canada
- 22.214.171.124 Mexico
- 5.3.3 Europe
- 126.96.36.199 Germany
- 188.8.131.52 United Kingdom
- 184.108.40.206 Italy
- 220.127.116.11 France
- 18.104.22.168 Rest of Europe
- 5.3.4 South America
- 22.214.171.124 Brazil
- 126.96.36.199 Argentina
- 188.8.131.52 Rest of South America
- 5.3.5 Middle East & Africa
- 184.108.40.206 Saudi Arabia
- 220.127.116.11 South Africa
- 18.104.22.168 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 ACP Composites
- 6.4.2 Axiom Materials
- 6.4.3 Composite Holding Company
- 6.4.4 Composite Resources
- 6.4.5 Cytec Industries Inc.
- 6.4.6 Gurit Holding AG
- 6.4.7 Hexcel Corporation
- 6.4.8 Isola Group
- 6.4.9 Lewcott Corporation
- 6.4.10 Lingol Corporation
- 6.4.11 Mitsubishi Chemical Carbon Fiber and Composites
- 6.4.12 NACCO Aerospace
- 6.4.13 Park Electrochemical Corp.
- 6.4.14 Renegade Materials Corporation
- 6.4.15 Royal Tencate Cate NV
- 6.4.16 SGL Carbon SE
- 6.4.17 Teijin Limited
- 6.4.18 Toray Industries Inc.
- 6.4.19 Ventec USA
- 6.4.20 Yokohama Aerospace America Inc.
- 6.4.21 Zoltek Companies
- 6.4.22 Zyvex Technologies
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Applications in Electronics