PUBLISHER: 360iResearch | PRODUCT CODE: 1496761
PUBLISHER: 360iResearch | PRODUCT CODE: 1496761
[180 Pages Report] The Carbon Fiber Prepreg Market size was estimated at USD 9.39 billion in 2023 and expected to reach USD 10.19 billion in 2024, at a CAGR 9.42% to reach USD 17.63 billion by 2030.
Carbon fiber prepreg refers to the reinforcement fabrics impregnated with a controlled amount of thermoset or thermoplastic resin. This market includes the manufacturing and distribution of these pre-impregnated carbon fibers, which are then used to produce composite materials noted for their high strength-to-weight ratio and rigidity. The global push for fuel efficiency and lower carbon emissions is leading to a rise in demand for lightweight composite materials. Moreover, expansion in industries such as aerospace, automotive, and renewable energy directly increases the consumption of carbon fiber prepregs. However, the high cost of carbon fibers and the complex manufacturing process of prepregs hinder market growth. Furthermore, rapid industrialization in emerging economies and innovations in hybridizing carbon fiber with other materials present vast opportunities for market expansion.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 9.39 billion |
Estimated Year [2024] | USD 10.19 billion |
Forecast Year [2030] | USD 17.63 billion |
CAGR (%) | 9.42% |
Regional Insights
The Americas has a mature carbon fiber prepreg market with extensive research and development activities aimed at reducing costs and improving performance. The aerospace and defense sectors are the main consumers, with newer sectors, including renewable energy, rapidly gaining traction in the region. The EMEA region encompasses diverse markets, with EU countries leading in consuming and producing carbon fiber prepreg materials. European Union countries such as Germany, France, and the United Kingdom have a robust demand for carbon fiber prepreg, primarily driven by the automotive and aerospace industries. Advanced manufacturing techniques and the shift towards electric vehicles (EVs) are influencing the prepreg material requirements in the region. The carbon fiber prepreg market is driven by countries such as China, Japan, and India in the Asia Pacific. These countries are witnessing significant expansion due to growing industrial sectors, particularly automotive and aerospace, and increased consumer purchasing power. The region's focus on reducing vehicle emissions has translated into a rising demand for lightweight materials such as carbon fiber prepregs in the automotive sector. Moreover, the region is seeing a spate of investments and expansions from domestic and foreign enterprises which can increase the demand for carbon fiber prepreg market.
Market Insights
The market dynamics represent an ever-changing landscape of the Carbon Fiber Prepreg Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Carbon Fiber Prepreg Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Carbon Fiber Prepreg Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Hexcel to Showcase New Intermediate and High Modulus Fiber HexPly M79 Prepregs at METS 2023
Hexcel Corporation launched HexPly M79 prepregs, which showcase intermediate and high-modulus carbon fibers. The HexPly M79 product lineup includes low-temperature cure capability and fast cycle times, significantly improving productivity. Additionally, these prepregs support increased automation in part production through Hexcel's HiTape dry carbon tapes and HiMax multiaxial reinforcements. The integration of these advancements demonstrates Hexcel's commitment to providing cutting-edge composites that propel the industry forward while meeting stringent environmental and mechanical requirements. [Published On: 2023-10-23]
Simcas Composites Ltd Launches Online Prepreg Sales
Simcas Composites Ltd. expanded its market footprint by launching an innovative online platform for selling carbon fiber prepreg materials. This strategic move caters to the rising demand for prepreg composites, renowned for their enhanced strength, durability, and lightweight characteristics, making them highly sought after in industries like aerospace, automotive, and sports equipment manufacturing. By implementing an online sales portal, Simcas Composites demonstrates its commitment to improving customer accessibility and streamlining procurement processes for its high-quality prepregs. [Published On: 2023-09-26]
Toray Supplies Torayca Carbon Fiber, Prepreg for the H3 Launch Vehicle
Toray Industries, Inc. has been selected as the TORAYCA carbon fiber prepreg supplier by Mitsubishi Heavy Industries for use in constructing their new H3 Launch Vehicle. This collaboration demonstrates confidence in Toray's high-performance materials, essential in delivering the durability and lightweight characteristics critical to aerospace applications. The H3 Launch Vehicle is poised to offer enhanced cost-effectiveness and reliability, showcasing advancements in Japan's space technology and reinforcing Toray's position as a leading carbon fiber prepreg market innovator. [Published On: 2023-02-14]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Carbon Fiber Prepreg Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Carbon Fiber Prepreg Market, highlighting leading vendors and their innovative profiles. These include Arvind Composite, Axiom Materials, Inc., Celanese Corporation, GMS Composites Pty. Ltd., Gurit Holding AG, Hexcel Corporation, Holding Company Composite, K. Sakai & Co., Ltd., KREMPEL GmbH, Mitsubishi Chemical Corporation, Norplex, Inc., North Thin Ply Technology Sarl, Park Aerospace Corp., Plastic Reinforcement Fabrics Ltd, Rock West Composites, Inc., SEIREN Co., LTD., SGL Carbon SE, Solvay S.A., Taiwan First Li-Bond Co., Ltd., TCR Composites, Inc., Teijin Limited, Toray Industries, Inc., Zoltek Companies, Inc., and Zyvex Technologies.
Market Segmentation & Coverage