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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:
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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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