Rockville, Dec. 09, 2022 (GLOBE NEWSWIRE) -- The Carbon Prepreg Market revenues were estimated at US$ 4.9 Billion in 2021 and is anticipated to grow at a CAGR of 11.5% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 15.7 Billion.
The key markets for carbon prepreg include Aerospace and Defence where the Carbon prepreg accounts for around 50% of the whole aeroplane build. Besides, sports and leisure is another prominent industry where most of the equipment are made from carbon prepreg.
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Key Takeaways from the Study
• Carbon Prepreg Market was valued at US$ 4.9 Bn in 2021. According to Fact.MR, Carbon Prepreg Market revenue would increase 3.2X between 2022 and 2032, reaching roughly US$ 15.7 Bn in 2032.
• In terms of Product/Resin Type, Epoxy Resin is projected to account for the highest projected CAGR of over 9.8%. in FY 2017 to 2021 & CAGR of over 13.0% from 2022 to the end of the forecast (2032).
• In terms of application, Aerospace & Defence accounted for the highest CAGR of 9.6% during the historical period.
• US is the dominant country in Carbon Prepreg Market with an absolute dollar growth opportunity of over US$ 2.7 Bn. Behind U.S., the market in U.K. is expected to register an absolute dollar growth of US$ 706.0 Mn.
The Carbon Prepreg market suffered during Covid-19, due to the deferral of operations in 2020. Following the economic recovery from the Covid-19 outbreak, demand for Carbon Prepreg started to pick pace. During Covid-19, the aerospace and defence industry's production slowed down. For instance, the CFRP-heavy A350 developed by Airbus SE being manufactured 12 times a month before the pandemic which came down to 5 times a month, while the production of the 787 Dreamliner dropped from 14 to 6 times a month.
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Competitive Landscape
Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in Carbon Prepreg market are focused on their alliances, technology collaborations, and product launch strategies. The Tier 2 Players in the market are targeting to increase their brain implant market share.
Some of the recent developments in the Carbon Prepreg market are:
- In February 2020 World first bike with carbon fibre frame, subframe, swingarms and rims was launched by Ducati motor holding S.p.A, named as Ducati Superleggera V4.
- In May 2019 General motors collaborated with Japan based company Teijin for producing world’s first application of carbon fibre reinforced thermoplastic (CFRTP) in its high production vehicle. The CFRTP material is been used for the boot bed of GM’s Premium offering GMC Sierra Denial 1500 and GMC Sierra AT4 1500 pickup.
Key Companies Covered
- Chemical Computing Group ULC
- ACP Composites Inc
- Hexcel Corporation
- Lingol Corporation
- SGL Carbon SE
- Solvay SA
- Toray Industries
- Gurit Holding AG
- Mitsubishi Rayon Co.Ltd
- Park Aerospace Corp
With these setbacks to end-use industry, the demand for carbon prepreg also decreased from 20 kilotons to 14 kt per year. Besides, the demand through the aerospace industry, the market through automobile industry also witnessed a reduction in regional output. For instance, the lightweight vehicle production in Europe fell by 20% in 2020 compared to 2019. Similarly, in the U.S. lightweight vehicle production declined by 15%. As the economy recovered from the lockdown impact, the demand for Carbon Prepreg’s bounced back.
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Carbon Prepreg Market Segmentation
- By Resin Type :
- Epoxy
- Phenolic
- Bismaleidmide
- Thermoplastics
- By Application :
- Aerospace & Defence
- Sports & Leisure
- Automotive
- Wind
- Other Applications
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Carbon Prepreg Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Carbon Prepreg in terms of Product/Resin Type (Epoxy, Phenolic, Bismaleimide, Thermoplastic, and other Resin type), Application ((Aerospace & Defence, Sports & Leisure, Automotive, Wind and other application) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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