Stratview Research announces the launch of a new research report on Carbon Fiber Prepreg Market by End-Use Industry (Aerospace & Defense, Wind Energy, Sporting Goods, Automotive, Civil Engineering, Marine, and Others), by Resin Type (Thermoset and Thermoplastic), by Form Type (UD Prepreg and Fabric Prepreg), by Curing Type (Autoclave, Out of Autoclave, and Others), by Product Type (Epoxy, BMI, Cyanate Ester, Polyimide, Phenolic, PPS, PEEK, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Size, Share, Trend, Forecast and Industry Analysis: 2021-2026.
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 prepreg 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 scenarios. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
Carbon Fiber Prepreg Market: Highlights from the Report
Carbon fiber prepregs offer excellent performance over other 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 were efficacious in maintaining their growth trajectory in the year. However, the outbreak of the pandemic, which 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. Wind energy and marine industries proved to be the shining stars during this trying time, keeping the big guns engaged in business.
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. The slumping production rate of composite-rich aircraft, B787 and A350XWB is acting as one of the prime reasons behind the market’s delayed recuperation.
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Based on the end-use industry, Stratview research has segmented the market as aerospace & defense, wind energy, automotive, civil engineering, sporting goods, marine, 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 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, polyimide prepreg, phenolic prepreg, PPS prepreg, PEEK prepreg, and other prepregs. Epoxy prepreg is likely to lead the market till 2026, whereas BMI prepreg is expected to grow at the fastest pace in the next five years. 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.
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All regions are expected to suffer from an enormous decline in 2020. Despite 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 the 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 a quick recovery in the market during the forecast period. Upcoming commercial aircraft program (C919), continuous manufacturing shift of sporting goods equipment to China, opening of assembly plants in China by Boeing and Airbus, and an ongoing shift in assembly plants of automotive OEMs in the region are likely to create a healthy long-term demand for carbon fiber prepregs in the region.
Key players in the market are Hexcel, Solvay, Toray, Teijin, Mitsubishi Chemical, Gurit, and Park Aerospace. Formation of long-term contracts, application development, and development of innovative products are some of the key strategies adopted by the major players to gain a competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on 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:
This report studies the global carbon fiber prepreg market and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the six ways in which the market is segmented:
Carbon Fiber Prepreg Market Size, Share, & Forecast, by End-Use Industry
Carbon Fiber Prepreg Market Size, Share, & Forecast, by Resin Type
Carbon Fiber Prepreg Market Size, Share, & Forecast, by Form Type
Carbon Fiber Prepreg Market Size, Share, & Forecast, by Curing Type
Carbon Fiber Prepreg Market, by Product Type
Carbon Fiber Prepreg Market, by Region
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