05-Jan-2021 | Zion Market Research
The global carbon fiber prepreg market was valued at USD 6.9 billion in 2019 and is expected to cross USD 12.5 billion by 2025 with a CAGR of 11.5% in the forecast period. The market is developing owing to its rising requirement from automotive, aerospace & defense, and wind energy sector.
The carbon fiber prepreg market includes major solution suppliers such as Gurit Holdings AG, SGL Group, Toray Industries, Park Electrochemical Corporation, Royal TenCate N.V., Teijin Limited, Solvay, Hexcel Corporation, Axiom Materials, and Mitsubishi Rayon Co. Ltd.
Aerospace & Defense End-Use Sector Predicted To Be The Biggest Users Of Carbon Fiber Prepreg All Over The World
The primary end-user sectors in the carbon fiber prepreg market comprise automotive, aerospace & defense, wind energy, and sports & recreation. The aerospace & defense sector added up for a lion’s share in terms of volume and value of the global market. This is owing to the elevated manufacturing of aircraft by Airbus and Boeing. Airbus and Boeing have a predicted requirement for almost 9,000 wide-bodied new aircraft over the coming 2 decades. The employment of carbon fiber prepreg in aircraft is also seeing development. As per industry experts, aircraft manufacturing is set to develop at 5.9% each year, from a predicted market size of USD 200 billion in 2019 to USD 250 billion by 2025.
Europe Projected To Dominate The Global Carbon Fiber Prepreg Market In The Years To Come
Europe is a major region for the global carbon fiber prepreg market. The market is increasing owing to the high requirement for materials with lightweight, excellent strength, and corrosion & chemical resistance characteristics. The market in the area is boosted by the existence of offshore wind farm installations, large electric car manufacturers, and aircraft manufacturers in the area. For instance, BMW began employing carbon fiber implants in 2015 in its 7-series vehicles. There are a huge number of wind energy installations, particularly in Germany and the UK. As per the GWEC (Global Wind Energy Council), the UK in 2017 set up 1,680 MW of wind power capacity, which is around 40% of capacity inclusion in the worldwide offshore wind capability.
Browse the full “Carbon Fiber Prepreg Market By Resin Type (Epoxy, Phenolic, And Thermoplastic), Manufacturing Process (Hot Melt And Solvent Dip), And End-Use (Sports & Leisure, Aerospace & Defense, Wind Energy, And Automotive): Global Aerospace & Defense Perspective, Comprehensive Analysis And Forecast, 2020 - 2026.” Report at https://www.zionmarketresearch.com/report/carbon-fiber-prepreg-market
The global carbon fiber prepreg market is segmented as follows:
By Manufacturing Process
By Resin Type
By End-use Industry
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