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Carbon Prepreg Market | Covid-19 Impact Analysis
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s carbon fiber prepreg market realities and future market possibilities for the forecast period of 2021 to 2026. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for carbon fiber prepregs in a multitude of industries at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data and information provided in the report can play a crucial role for market participants as well as investors in formulating short-term as well as long-term growth strategies.
The Carbon Fiber Prepreg Market: Highlights
Carbon fiber prepreg is pre-pegged with catalyzed resins, such as epoxy, BMI, PPS, and PEEK. Carbon fiber prepregs offer excellent performance over other fiber prepregs with numerous advantages such as excellent weight reduction, high strength-to-weight ratio, high tensile and compressive strength, low coefficient of thermal expansion, and high fatigue resistance. Escalating demand for lightweight materials from key industries, such as aerospace & defense and automotive, owing to rapidly changing market dynamics with increased demand for lightweight and durable materials is likely to create new revenue pockets for prepreggers in this product category.
Despite several setbacks in the aerospace and automotive industries in 2019, the prepreg market participants somehow efficacious in maintaining their growth trajectory in the year. The outbreak of the pandemic was initially anticipated as a viable hitch, later transformed into an obstruction for survival for many stakeholders of almost all the end-use industries with aerospace and automotive proving to be its biggest victims.
The carbon fiber prepreg market is expected to mark a massive decline in 2020. The short-term impact on the market is evident in major players’ H1 2020 results with a massive plunge in revenue, huge loss, employee layoffs, cash-burnouts, production halt, etc. Nevertheless, the long-term outlook still seems hopeful with a gradual rebound in aircraft and automobile production, ultimately imprinting a positive impact on the market. Carbon prepreg accounts for more than a mammoth 80% of the total prepreg market. Stratview Research’s estimates suggest that the market is likely to pick up pace in the years to come to reach an estimated value of US$ 4.9 billion in 2026.
Based on the end-use industry type, Stratview research has segmented the market as aerospace & defense, automotive, wind energy, consumer goods, and others. Despite the current glum scenario, the aerospace & defense is expected to push through, maintaining its dominance in the market till 2026. On the other side, the automotive industry is expected to turn the corner, healing at the fastest pace during the forecast period. Unabating demand for fuel-efficient vehicles, owing to rising concerns over the environmental pollution and an expected ramp-up in composite penetration in newer aircraft programs are likely to catapult the carbon fiber prepreg demand in the years to come.
Based on the product type, we have classified the market as epoxy prepreg, BMI prepreg, cyanate ester prepreg, phenolic prepreg, PPS prepreg, PEEK prepreg, polyimide prepreg, and other prepregs. Epoxy prepreg is likely to hold the throne in the market till 2026, whereas BMI prepreg is expected to heal at the fastest rate post the pandemic. Carbon fiber prepregs are generally used with epoxy resin systems for several crucial applications such as aircraft fuselage, wings, control surfaces, engine & nacelles, fan blades, and interiors.
All regions are expected to suffer from an enormous decline in 2020. In spite of the grave downturn, North America is projected to remain the largest market during the forecast period. The region’s dominance is attributed to several factors including a robust supply chain and presence of major tier players, OEMs, and Prepreggers. Aerospace & Defense is estimated to remain the biggest demand generator for carbon fiber prepreg in the region’s market.
Asia-Pacific is anticipated to log the quickest recovery in the market during the forecast period. The upcoming commercial aircraft program (C919), the opening of assembly plants in China by Boeing and Airbus, and an ongoing shift in assembly plants of automotive OEMs in the region from North America and Europe are likely to create healthy long-term demand for carbon fiber prepreg in the region.
The supply chain of this market comprises raw material suppliers, carbon fiber prepreg manufacturers, distributors, composite part fabricators, OEMs, and MRO companies. The key carbon fiber prepreg manufacturers include Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites Inc., Solvay SA, Teijin Limited, Gurit Holding, Park Electrochemical, and Toray Industries, Inc. The formation of long-term contracts, application development, and development of innovative products are some of the key strategies adopted by the major players in order to gain a competitive edge in the market. The prevalent COVID-19 crisis has pushed leading players to realign their strategies to adapt to the need of the hour.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 700 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The carbon fiber prepreg market is segmented into the following categories.
Carbon Fiber Prepreg Market, by End-Use Industry
Carbon Fiber Prepreg Market, by Resin Type
Carbon Fiber Prepreg Market, by Form Type
Carbon Fiber Prepreg Market, by Curing Type
Carbon Fiber Prepreg Market, by Product Type
Carbon Fiber Prepreg Market, by Region
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]
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