Carbon Fiber Prepreg Market - Forecast(2024 - 2030)
Carbon Fiber Prepreg Market Overview
The Carbon Fiber Prepreg Market size is estimated to reach
US$13.9 billion by 2027 after growing at a CAGR of 9.8% during the forecast
period 2022-2027. Carbon fiber prepreg is a composite material in which a
high-strength reinforcement carbon fiber is pre-impregnated with a thermoplastic resin or a thermoset resin such as epoxy, phenolic, bismaleimde
(polyimide) and cyanate
ester. The two most common techniques of prepreg production are hot melt
and solvent dip. Carbon fiber prepreg components are considered the pinnacle
of advanced composites owing to their performance and strength. This makes them
the most sought-after material in the aerospace, automotive, marine, energy,
sporting and other sectors. The shift toward clean energy is a major driving
factor for the Carbon Fiber Prepreg Market.
Carbon Fiber Prepreg Market Report Coverage
The report: “Carbon Fiber Prepreg Market Report –
Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the
following segments in the Carbon Fiber Prepreg industry.
Key Takeaways
- Europe dominates the Carbon Fiber Prepreg Market on account of the wind farms in the region. As per WindEurope, Europe’s wind farms generated 437 TWh (Terawatt hour) of electricity in 2021. They covered 15% of the electricity demand in the EU-27+UK.
- Carbon Fiber Prepreg sheet is made by impregnating carbon fibers with thermoset or thermoplastic resins. Owing to its light weight and exceptional strength, carbon fiber prepregs are finding increasing applications in aircraft, spacecraft and automobiles to improve fuel economy and reduce body weight.
- The rapid shift towards clean energy boosts the Carbon Fiber Prepreg market size during the forecast period.
- The major opportunity for this market is the investment in R&D for thermoplastic Carbon Fiber Prepregs. The important advantage of thermoplastic prepregs is their recyclability.
Figure: Carbon Fiber Prepreg Market Revenue, by Geography, 2021 (%)
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Carbon Fiber Prepreg Market Segment Analysis – By Resin
The thermoset
segment held a dominant Carbon Fiber Prepreg Market share
in 2021 and is expected to grow at a CAGR of 5.9% during the forecast period of
2022-2027. The primary role of the thermoset resin matrix is to act as an adhesive,
bonding and fixing the fibers together. Thermoset resins do not melt under heat, but instead, disintegrate. The short molecular chains that make up this group of polymers
have low viscosity which is ideal for the impregnation of fibers. The main
thermoset resins are epoxy,
phenolic, bismaleimide
(polyimide) and cyanate
ester. Out of these, epoxy
holds the largest share as epoxy-based carbon fiber prepregs provide good
strength, durability and environmental resistance and are commonly used in aerospace
and defense, automotive, sport, wind and other industries. Several advancements
have been made using epoxy
resins in the carbon fiber prepreg industry. For instance, in July 2020, Sino
Polymer developed a one-component flame-retardant epoxy resin system for carbon fiber prepreg, that
can be used in railway applications. Thus, the thermoset segment is set to
dominate the Carbon Fiber Prepreg market.
Carbon Fiber Prepreg Market Segment Analysis – By End-use Industry
The Aerospace
& Defense segment held a dominant Carbon Fiber Prepreg Market share in
2021 and is expected to grow at a CAGR of 4.7% during the forecast period of
2022-2027. The aerospace and defense industry is the largest consumer of carbon
fiber prepregs for civil aircraft, military jets, helicopters, satellites and space
launchers. The applications are based on the resin
types. Epoxy is used for
highly loaded parts and supreme toughness, bismaleimide is used for high-temperature
performance, phenolic
for fire, smoke and toxicity performance in aircraft interiors and cyanate ester for space
structures and satellite applications. According to Boeing, using
carbon-based materials allows for less maintenance since they do not corrode or
fatigue like metals do. As per Boeing’s Commercial Market Outlook 2022–2041,
the aerospace commercial market is valued at US$7.2 trillion for new airplane
deliveries, with the global fleet increasing by 80% through 2041 compared to
2019 pre-pandemic levels. Therefore, with the growth of the aerospace &
defense sector, the demand for the prepregs also increases. This boosts the Carbon Fiber Prepreg market size during the forecast period.
Carbon Fiber Prepreg Market Segment Analysis – By Geography
Europe held the dominant Carbon Fiber Prepreg Market share of up to 39% in 2021 owing to the growth of clean energy. In Europe, wind generation is one of the leading sources of clean energy. According to WindEurope, as of 2021, Europe has 236 GW of wind capacity. Europe would install 116 GW of new wind farms over the period 2022-2026. Three-quarters of these new capacity additions would be onshore wind. Europe leads the world in wind energy, especially offshore wind, with over 90% of today's offshore wind farms. Rising renewable energy targets are accelerating plans for an offshore wind grid across northern Europe. In early 2022, Germany, the Netherlands, Belgium and Denmark pledged to install at least 65 GW of offshore wind capacity in the North Sea by 2030 and 150 GW by 2050. As efficient and clean wind generation requires high specific strength and high specific modulus of elasticity of carbon fiber prepregs, more carbon fiber prepreg is being used per windmill. Therefore, as wind energy continues to grow in the region, the demand for Carbon Fiber Prepregs is also expected to rise.
Carbon Fiber Prepreg Market Drivers
Rapid Shift towards Clean Energy
Renewable energy is at the forefront of the energy policy of all major economies. The European Commission has proposed raising the renewable energy target to 40% by 2030. The past few years have seen high growth rates in the wind energy sector. According to the U.S. Department of Energy, the total annual U.S. electricity generation from wind energy surged from about 6 billion kilowatt-hours (kWh) in 2000 to about 380 billion kWh in 2021. According to Sandia National Laboratories, wind blades made from carbon fibers weigh 25% less than the ones made from fiberglass. Lighter blades can capture more energy in locations with low wind. A switch to carbon fiber prepregs extends blade lifetime. Spain-based Gamesa, one of the global market leaders in wind energy, uses carbon fiber epoxy prepreg materials in its most advanced turbines. Therefore, the rapid growth of clean energy drives the demand for Carbon Fiber Prepregs.
Developments in the Automotive Industry
Every automotive OEM is focusing on reducing the weight of the vehicle. If a vehicle is lightweight it can accelerate more with optimal utilization of fuel. In electric vehicles, this is of more importance. According to the U.S. Department of Energy Vehicle Technologies Office, using lightweight materials in these electric vehicles can offset the weight of power systems such as batteries and electric motors, improving efficiency and increasing their all-electric range. As such, carbon fiber prepreg manufacturers are also catering to automotive applications. In August 2021, Japan’s DIC Corp. and its local partners developed a fast-curing carbon-fiber-reinforced prepreg sheet for automotive applications to improve fuel economy and reduce body weight. In November 2021, Litespeed Racing released its all-new full carbon fiber wheel, the Carbon One, made from prepreg carbon fiber. Such developments in the automotive industry are driving the Carbon Fiber Prepreg Market.
Carbon Fiber Prepreg Market Challenge
High Production Costs
The major restraint in the Carbon Fiber Prepreg Market is the high production costs. The carbon fiber prepreg manufacturing process takes time and generates some costs. Additional materials used such as resins are costly. A square meter of carbon prepreg costs $US30-50. These prepregs require curing. It can be cured in an autoclave or by a vacuum. The autoclave is a very expensive device that can cost as much as US$500,000. Carbon fiber prepreg needs to be stored at low temperatures. At room temperature (25°C), the storage period is only 1 month, at -5°C to 0°C, the storage period can be extended to 3 months, if the temperature is lower than -18°C the storage period can be increased to more than 6 months. This also adds to the cost. Thus, the high cost associated with the production may prove to be a challenge for the Carbon Fiber Prepreg industry.
Carbon Fiber Prepreg Industry Outlook
Product launches, acquisitions and R&D activities are
key strategies adopted by players in the Carbon Fiber Prepreg Market. The top 10
companies in the Carbon Fiber Prepreg Market are:
- Toray Group
- Teijin Limited
- Hexcel Corporation
- ZOLTEK Group
- Mitsubishi Rayon Co., Ltd.
- GL Group
- Gurit Holdings AG
- Royal TenCate N.V
- Solvay
- Axiom Materials
Recent Developments
- In May 2022, Solvay announced the expansion of its SolvaLite portfolio. SolvaLite 714 prepregs is a new generation of unidirectional carbon-fiber and woven-fabric products pre-impregnated with SolvaLite 714 epoxy resin.
- In April 2022, Archer Aviation Inc. and Hexcel entered into a letter of intent. Under the proposed relationship terms, Hexcel would provide Archer with high-performance Carbon Fiber Prepreg to fabricate composite parts for Archer’s aircraft.
- In June 2021, Axiom Materials launched two new narrow prepreg products AX-6170 and AX-6201XL. AX6170 is a cyanate ester carbon fiber prepreg for critical strength parts such as lithium-ion battery containers. AX6201XL is a toughened epoxy Carbon Fiber Prepreg for structural parts for hydrogen fuel tanks.
Relevant Reports
LIST OF TABLES
1.Global Carbon Fiber Prepreg Market By Resin Type Market 2023-2030 ($M)1.1 Epoxy Resin Market 2023-2030 ($M) - Global Industry Research
1.2 Phenolic Resin Market 2023-2030 ($M) - Global Industry Research
1.3 BMI Resin Market 2023-2030 ($M) - Global Industry Research
1.4 Cyanate Ester Resin Market 2023-2030 ($M) - Global Industry Research
1.5 Thermoplastic Resin Market 2023-2030 ($M) - Global Industry Research
2.Global Carbon Fiber Prepreg Market By Manufacturing Process Market 2023-2030 ($M)
2.1 Hot Melt Process Market 2023-2030 ($M) - Global Industry Research
2.2 Solvent DIP Process Market 2023-2030 ($M) - Global Industry Research
3.Global Carbon Fiber Prepreg Market By End-Use Industry Market 2023-2030 ($M)
3.1 Aerospace & Defense Market 2023-2030 ($M) - Global Industry Research
3.2 Automotive Market 2023-2030 ($M) - Global Industry Research
3.3 Sports & Leisure Market 2023-2030 ($M) - Global Industry Research
3.4 Wind Energy Market 2023-2030 ($M) - Global Industry Research
4.Global Carbon Fiber Prepreg Market By Resin Type Market 2023-2030 (Volume/Units)
4.1 Epoxy Resin Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Phenolic Resin Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 BMI Resin Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Cyanate Ester Resin Market 2023-2030 (Volume/Units) - Global Industry Research
4.5 Thermoplastic Resin Market 2023-2030 (Volume/Units) - Global Industry Research
5.Global Carbon Fiber Prepreg Market By Manufacturing Process Market 2023-2030 (Volume/Units)
5.1 Hot Melt Process Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Solvent DIP Process Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global Carbon Fiber Prepreg Market By End-Use Industry Market 2023-2030 (Volume/Units)
6.1 Aerospace & Defense Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Automotive Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Sports & Leisure Market 2023-2030 (Volume/Units) - Global Industry Research
6.4 Wind Energy Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America Carbon Fiber Prepreg Market By Resin Type Market 2023-2030 ($M)
7.1 Epoxy Resin Market 2023-2030 ($M) - Regional Industry Research
7.2 Phenolic Resin Market 2023-2030 ($M) - Regional Industry Research
7.3 BMI Resin Market 2023-2030 ($M) - Regional Industry Research
7.4 Cyanate Ester Resin Market 2023-2030 ($M) - Regional Industry Research
7.5 Thermoplastic Resin Market 2023-2030 ($M) - Regional Industry Research
8.North America Carbon Fiber Prepreg Market By Manufacturing Process Market 2023-2030 ($M)
8.1 Hot Melt Process Market 2023-2030 ($M) - Regional Industry Research
8.2 Solvent DIP Process Market 2023-2030 ($M) - Regional Industry Research
9.North America Carbon Fiber Prepreg Market By End-Use Industry Market 2023-2030 ($M)
9.1 Aerospace & Defense Market 2023-2030 ($M) - Regional Industry Research
9.2 Automotive Market 2023-2030 ($M) - Regional Industry Research
9.3 Sports & Leisure Market 2023-2030 ($M) - Regional Industry Research
9.4 Wind Energy Market 2023-2030 ($M) - Regional Industry Research
10.South America Carbon Fiber Prepreg Market By Resin Type Market 2023-2030 ($M)
10.1 Epoxy Resin Market 2023-2030 ($M) - Regional Industry Research
10.2 Phenolic Resin Market 2023-2030 ($M) - Regional Industry Research
10.3 BMI Resin Market 2023-2030 ($M) - Regional Industry Research
10.4 Cyanate Ester Resin Market 2023-2030 ($M) - Regional Industry Research
10.5 Thermoplastic Resin Market 2023-2030 ($M) - Regional Industry Research
11.South America Carbon Fiber Prepreg Market By Manufacturing Process Market 2023-2030 ($M)
11.1 Hot Melt Process Market 2023-2030 ($M) - Regional Industry Research
11.2 Solvent DIP Process Market 2023-2030 ($M) - Regional Industry Research
12.South America Carbon Fiber Prepreg Market By End-Use Industry Market 2023-2030 ($M)
12.1 Aerospace & Defense Market 2023-2030 ($M) - Regional Industry Research
12.2 Automotive Market 2023-2030 ($M) - Regional Industry Research
12.3 Sports & Leisure Market 2023-2030 ($M) - Regional Industry Research
12.4 Wind Energy Market 2023-2030 ($M) - Regional Industry Research
13.Europe Carbon Fiber Prepreg Market By Resin Type Market 2023-2030 ($M)
13.1 Epoxy Resin Market 2023-2030 ($M) - Regional Industry Research
13.2 Phenolic Resin Market 2023-2030 ($M) - Regional Industry Research
13.3 BMI Resin Market 2023-2030 ($M) - Regional Industry Research
13.4 Cyanate Ester Resin Market 2023-2030 ($M) - Regional Industry Research
13.5 Thermoplastic Resin Market 2023-2030 ($M) - Regional Industry Research
14.Europe Carbon Fiber Prepreg Market By Manufacturing Process Market 2023-2030 ($M)
14.1 Hot Melt Process Market 2023-2030 ($M) - Regional Industry Research
14.2 Solvent DIP Process Market 2023-2030 ($M) - Regional Industry Research
15.Europe Carbon Fiber Prepreg Market By End-Use Industry Market 2023-2030 ($M)
15.1 Aerospace & Defense Market 2023-2030 ($M) - Regional Industry Research
15.2 Automotive Market 2023-2030 ($M) - Regional Industry Research
15.3 Sports & Leisure Market 2023-2030 ($M) - Regional Industry Research
15.4 Wind Energy Market 2023-2030 ($M) - Regional Industry Research
16.APAC Carbon Fiber Prepreg Market By Resin Type Market 2023-2030 ($M)
16.1 Epoxy Resin Market 2023-2030 ($M) - Regional Industry Research
16.2 Phenolic Resin Market 2023-2030 ($M) - Regional Industry Research
16.3 BMI Resin Market 2023-2030 ($M) - Regional Industry Research
16.4 Cyanate Ester Resin Market 2023-2030 ($M) - Regional Industry Research
16.5 Thermoplastic Resin Market 2023-2030 ($M) - Regional Industry Research
17.APAC Carbon Fiber Prepreg Market By Manufacturing Process Market 2023-2030 ($M)
17.1 Hot Melt Process Market 2023-2030 ($M) - Regional Industry Research
17.2 Solvent DIP Process Market 2023-2030 ($M) - Regional Industry Research
18.APAC Carbon Fiber Prepreg Market By End-Use Industry Market 2023-2030 ($M)
18.1 Aerospace & Defense Market 2023-2030 ($M) - Regional Industry Research
18.2 Automotive Market 2023-2030 ($M) - Regional Industry Research
18.3 Sports & Leisure Market 2023-2030 ($M) - Regional Industry Research
18.4 Wind Energy Market 2023-2030 ($M) - Regional Industry Research
19.MENA Carbon Fiber Prepreg Market By Resin Type Market 2023-2030 ($M)
19.1 Epoxy Resin Market 2023-2030 ($M) - Regional Industry Research
19.2 Phenolic Resin Market 2023-2030 ($M) - Regional Industry Research
19.3 BMI Resin Market 2023-2030 ($M) - Regional Industry Research
19.4 Cyanate Ester Resin Market 2023-2030 ($M) - Regional Industry Research
19.5 Thermoplastic Resin Market 2023-2030 ($M) - Regional Industry Research
20.MENA Carbon Fiber Prepreg Market By Manufacturing Process Market 2023-2030 ($M)
20.1 Hot Melt Process Market 2023-2030 ($M) - Regional Industry Research
20.2 Solvent DIP Process Market 2023-2030 ($M) - Regional Industry Research
21.MENA Carbon Fiber Prepreg Market By End-Use Industry Market 2023-2030 ($M)
21.1 Aerospace & Defense Market 2023-2030 ($M) - Regional Industry Research
21.2 Automotive Market 2023-2030 ($M) - Regional Industry Research
21.3 Sports & Leisure Market 2023-2030 ($M) - Regional Industry Research
21.4 Wind Energy Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)2.Canada Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
3.Mexico Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
4.Brazil Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
5.Argentina Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
6.Peru Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
7.Colombia Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
8.Chile Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
9.Rest of South America Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
10.UK Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
11.Germany Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
12.France Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
13.Italy Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
14.Spain Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
15.Rest of Europe Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
16.China Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
17.India Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
18.Japan Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
19.South Korea Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
20.South Africa Carbon Fiber Prepreg Market Revenue, 2023-2030 ($M)
21.North America Carbon Fiber Prepreg By Application
22.South America Carbon Fiber Prepreg By Application
23.Europe Carbon Fiber Prepreg By Application
24.APAC Carbon Fiber Prepreg By Application
25.MENA Carbon Fiber Prepreg By Application
26.Cytec Solvay Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Hexcel Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Royal Tencate N.V., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Teijin Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Toray Industries Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Gurit Holding AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.SGL Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Axiom Materials, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Mitsubishi Rayon Co. Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Park Electrochemical Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)