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Global Carbon Prepreg Market to Grow at a CAGR of 9.3% During 2022-2027, Aided by the Rising Demand for the Product in the Automotive Industry

According to a new report by EMR titled, ‘Global Carbon Prepreg Market Report and Forecast 2022-2027’, the market attained a value of above USD 7.8 billion in 2021. The industry is further expected to grow at a CAGR of 9.3% between 2022 and 2027 to reach a value of more than USD 13.3 billion by 2027.

The market for carbon prepreg is driven by the rising demand for the product from the automotive industry. The growing demand for automobiles has compelled the carbon prepreg manufacturers to amplify the supply of the product. Furthermore, the rapid expansion of the aerospace and defence industry, owing to the growing technological advancements, is likely to provide impetus to the market.

In June 2021, Teijin Limited announced the adoption of its Tenax carbon fibre prepreg for a part of nacelle, or streamlined housing for the next generation aircraft engine, which is going to be used by Airbus. Tenax is a high-performance prepreg developed for aircraft applications.

In November 2021, Hexcel Corporation (NYSE: HXL) announced the signing of an agreement with Fairmat to build the capability to recycle carbon fibre prepreg from Hexcel European operations.

In terms of region, Europe is likely to account for a significant share in the market, owing to the rapid expansion of power generation plants in Germany and France, which is likely to generate a significant demand for carbon prepreg. Over the forecast period, the various upcoming sporting events in the region, including motorsports, are likely to provide lucrative opportunities to the carbon prepreg industry, as the product is crucial in the manufacturing of sporting equipment.

Market Breakup by Resin Type, Application, and Region:

  • The market is segmented based on resin type into thermoset and thermoplastic.
  • The different end-user industries of the product include aerospace and defence, energy, automotive, leisure, and electronics, among others.
  • Region-wise, the global market for carbon prepreg can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for carbon prepreg is being driven by the growing application of the product in various end use industries including energy, automotive, and aerospace and defence, among others.
  • As the product is crucial in the manufacturing of sporting equipment, the upcoming sporting events are likely to provide lucrative opportunities for the carbon prepreg industry. 
  • The rapid industrialisation and urbanisation  are anticipated to augment the market growth.
  • The market is expected to be aided by the growing investments by the key market players to improve their existing product portfolio and enhance their offerings.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for carbon prepreg for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the resin types, applications, and regions of carbon prepreg.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global carbon prepreg market are Chemical Computing Group ULC, ACP Composites, Inc, Hexcel Corporation, Lingol Corporation, SGL Carbon SE, and Solvay S.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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