Pune, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a Material and chemical business research firm has published a market intelligence report on the “Carbon Fiber Prepreg Market”, which uses a combination of qualitative and quantitative analysis to draw inferences in the report. The total market opportunity for Carbon Fiber Prepreg was USD 8.29 Bn in 2021 and is expected to grow at 10.42 percent CAGR through the forecast period to reach USD 18.32 Bn by 2029. The bottom-up approach has been used to estimate the Carbon Fiber Prepreg Market size.
Carbon Fiber Prepreg Market Report Scope
| Market Size in 2021 | USD 8.29 Bn. |
| Market Size in 2029 | USD 18.32 Bn. |
| CAGR | 10.42 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 277 |
| No. of Tables | 118 |
| No. of Charts and Figures | 112 |
| Segment Covered | Resin Type and End-Use Industry |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Developing advanced software tools for the development of the carbon fiber prepreg product to create Carbon Fiber Prepreg Market growth opportunities
To automate the engineering process various advanced carbon fiber prepreg software tools are being developed. During the manufacturing and designing stages of carbon fiber prepreg, these tools identify and solve problems incurred. One of the major factors driving the market growth is the increasing adoption of green energy sources with rapid industrialization. The major challenge for the Carbon Fiber Prepreg Market growth is the high cost required for research and development.
The Carbon Fiber Prepreg Market in the Europe region dominated the global market by holding a 49 percent share in 2021
The Europe region is expected to retain its dominance during the forecast period. In the region, the maximum share is held by the aerospace industry due to the presence of a large aerospace industry in the UK. The Carbon Fiber Prepreg Market in the Asia Pacific region is also expected to grow at a significant rate due to the growing automotive and aerospace industries in the region. The demand for carbon fiber prepreg in the production of the wind turbine blade is increasing due to rising wind energy installation, especially in India and China.
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Carbon Fiber Prepreg Market Segmentation
By Resin Type
- Epoxy
- Phenolic
- Thermoplastic
- Bismaleimide (BMI)
- Polyimide
- Others
During the forecast period, the Epoxy segment is expected to dominate the Carbon Fiber Prepreg Market. This growth is majorly due to the high demand for Epoxy due to its strength and lightweight, Utilization of carbon fiber-reinforced polymer (CFRP) composites in a wide range of products such as sports equipment, vehicles and body armor.
By End-use Industry
- Aerospace & Defense
- Wind Energy
- Sports & Recreation
- Automotive
- Others
In 2021, Aerospace & Defense segment held the largest Carbon Fiber Prepreg Market share. The aerospace sector generated around USD 700 billion in sales in 2020. The wide adoption of carbon fiber prepreg in this segment is for the production of airplanes and helicopters in order to enhance their sustainability and safety. The global Carbon Fiber Prepreg is also driven by its increasing use in the automotive sector. In the automotive sector, the use of carbon fiber prepreg arises due to the increasing preference for fuel-efficient and lightweight vehicles. It is also used for manufacturing automobile components such as wheel arches, seats, bumpers, brake ducts and splitters.
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Carbon Fiber Prepreg Market Key Competitors include:
- Mitsubishi Chemical Carbon Fiber and Composites, Inc. (US)
- ACP Composites, Inc (US)
- Park Aerospace Corp (US)
- Isola Corp (US)
- Zoltek Companies, Inc. (US)
- Barrday Corporation (US)
- Axiom Materials (US)
- TCR Composites (US)
- Hexcel Corporation (US)
- Airtech Advanced Materials Group (US)
- PRF Composite Materials (UK)
- Plastic Reinforcement Fabrics Ltd (UK)
- Toray Industries Inc. (Japan)
- Teijin Limited (Japan)
- SGL Group (Germany)
- 3A Associate Incorporated (India)
- Kineco (India)
- GMS Composites (Australia)
- Hankuk Carbon (South Korea)
- Solvay (Belgium)
- Holding company "Composite" (Russia)
- North Thin Ply Technology (Poland)
- Gurit Holding Ag (Switzerland)
- Royal Tencate N.V. (Netherlands)
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Key questions answered in the Carbon Fiber Prepreg Market are:
- What is Carbon Fiber Prepreg?
- Which segment is expected to drive the Carbon Fiber Prepreg Market during the forecast period?
- What are the global trends in the Carbon Fiber Prepreg Market?
- What are the upcoming industry applications and trends for the Carbon Fiber Prepreg Market?
- What is the expected demand for different types of products in the Carbon Fiber Prepreg Market during the forecast period?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Carbon Fiber Prepreg Market?
- What growth strategies are the players considering to increase their presence in the Carbon Fiber Prepreg Market?
- Who are the leading companies and what are their portfolios in the Carbon Fiber Prepreg Market?
- What are the major challenges that the Carbon Fiber Prepreg Market could face in the future?
- Who held the largest market share in the Carbon Fiber Prepreg Market?
- Which regions are expected to offer various opportunities for the Carbon Fiber Prepreg Market growth?
Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2021)
- Past Pricing and price curve by region (2017 to 2021)
- Market Size, Share & Forecast by different segment | 2022−2029
- Carbon Fiber Prepreg Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Carbon Fiber Prepreg Market Segmentation – A detailed analysis by Resin type, End-use Industry and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
Glass Fiber Prepreg Market - The market size is expected to reach USD 2.96 billion by 2029 at a CAGR of 3.8 percent during the forecast period. The market is expected to be driven by the increasing knowledge of its advantages such as enhanced energy efficiency and lower vehicle emissions.
Prepreg Market - The market size is expected to reach USD 24.65 billion by 2029 at a CAGR of 11.25 percent during the forecast period. The market is expected to be driven by increasing demand for prepreg materials in the automotive industry.
Carbon Fiber Tape Market - The market size is expected to reach USD 12.94 billion by 2029 at a CAGR of 12.1 percent during the forecast period. The market is expected to be driven by the trend in the automotive industry to reduce the weight of vehicles.
Aerospace Plastics Market - The market size is expected to reach USD 29.11 billion by 2029 at a CAGR of 6.44 percent during the forecast period. The market is expected to be driven by the increasing demand for lightweight and more efficient aircraft, increasing passenger transportation because of affordable carriers in developing regions, modernization of existing aircraft and replacement of old aircraft.
Carbon Fiber Market - The market size is expected to reach USD 8.11 billion by 2029 at a CAGR of 8.8 percent during the forecast period. The market is expected to be driven by the increasing popularity of 3D printing and strict eco-friendly regulations.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
