Carbon Prepreg Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 7.73 Billion |
| Market Size (2029) | USD 12.01 Billion |
| CAGR (2024 - 2029) | 9.21 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Carbon Prepreg Market Analysis
The Carbon Prepreg Market size is estimated at USD 7.73 billion in 2024, and is expected to reach USD 12.01 billion by 2029, growing at a CAGR of 9.21% during the forecast period (2024-2029).
Due to the COVID-19 outbreak tourism sector was affected negatively which affected the aerospace industry. However, the easing of lockdowns and countries lifting travel restrictions led to increased traveling in the years 2021 and 2022 which helped the carbon prepreg market reach pre-pandemic levels.
- Emphasis on green energy sources, growing demand from CFRP components, and the growing demand from the aerospace and defense industry are likely to act as drivers for the market over the forecast period.
- However, the availability of eco-friendly alternatives is likely to hinder the market growth during the forecast period.
- Increasing application in the electronics industry is likely to act as an opportunity in the future.
- Europe dominated the market across the world due increased demand from the defense sector.
Carbon Prepreg Market Trends
Increasing Demand from the Aerospace and Defence Industry
- Traditionally, manufacturers in aerospace turned to carbon composites for their significant weight reductions and cost savings compared to conventional aerospace materials, such as aluminum. Most aerospace composites use carbon prepregs as raw materials, with autoclave molding as a popular fabrication process. The aerospace industry is the greatest consumer of carbon prepregs for civil aircraft, military jets, helicopters, aero-engines or space satellites, and launchers.
- Carbon fiber composites are used in aerospace and defense applications due to their properties, such as high strength, stiffness, heat and chemical resistivity, and various other thermal and chemical properties.
- According to the Boeing Commercial Outlook 2022-2041, the global forecast for commercial aviation services (which include flight operations, maintenance and engineering, ground, station, and cargo operations, and others) by 2041 is expected to be USD 3,615 billion. It will likely boost the demand for the studied market in the coming years.
- Recently, aircraft manufacturers are looking for ways to accelerate production to fill order backlogs. For instance, according to the Boeing Commercial Outlook 2022-2041, the total global deliveries of new airplanes are estimated to be 41,170 by 2041.
- Further, according to the report, the market size of aerospace services in Southeast Asia is expected to reach USD 245 billion and in Europe USD 850 million.
- This scenario in the aerospace industry is expected to continue driving the growth of the carbon prepreg market in the long term.
Europe to Dominate the Market
- Europe dominated the global carbon prepreg market. The German economy is the largest in Europe and the fifth-largest globally.
- Germany hosts many production bases for aircraft interior components, MRO (maintenance, repair, and overhaul), and lightweight construction and materials, largely in Bavaria, Bremen, Baden-Württemberg, and Mecklenburg-Vorpommern.
- In Europe, according to the Boeing Commercial Outlook 2022-2041, the total deliveries of new airplanes are estimated to be 8,550 units by 2041, with a market service value of USD 850 billion. Thereby, the demand for optical coatings from aircraft manufacturing will likely rise in the region in the future.
- Further, according to the Boeing Commercial Outlook 2022-2041, the airline fleet in the region is expected to grow by 4.2% by 2041.
- Over 30 to 35 thousand new aircraft are estimated to be operational by the next 20 years to meet the rising aviation demand. Thus, the increase in aircraft production is also expected to contribute to the market growth during the forecast period.
- Further, in the year 2022, two new projects, which include Advanced Radar Technology in Europe (ARTURO) and Research in eco-designed ballistic systems for durable, lightweight protection against current and new threats in the platform and personal applications (ECOBALLIFE), were handed to the European Defense Agency (EDA) which are worth EUR 30 million (~USD 31.614 million).
- Hence, such trends in the industry in the region are expected to drive the market growth for carbon prepreg during the forecast period.
Carbon Prepreg Industry Overview
The global carbon prepreg market is consolidated, with the top five players accounting for a major market share studied. Major players in the market (not in any particular order) include TEIJIN LIMITED, Hexcel Corporation, TORAY INDUSTRIES, INC., SGL Carbon, and Solvay, among others.
Carbon Prepreg Market Leaders
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Hexcel Corporation
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TEIJIN LIMITED
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Solvay
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TORAY INDUSTRIES, INC.
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SGL Carbon
*Disclaimer: Major Players sorted in no particular order
Carbon Prepreg Market News
- September 2022: Solvay launched a carbon fiber epoxy prepreg tooling material by the name LTM 350, which is designed to deliver significant time and cost savings for the industrial, aerospace, automotive, and race car markets. This material can be cured at temperatures as low as 45°C with an extended post-cure and offers an industry-leading fast, low-temperature cure cycle (3 hrs at 60°C).
Carbon Prepreg Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Emphasis on Green Energy Sources
- 4.1.2 Growing Demand for CFRP Components
- 4.1.3 Growing Demand from the Aerospace and Defense Sector
-
4.2 Restraints
- 4.2.1 Availability of Eco-Friendly Alternatives
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
-
5.1 Resin Type
- 5.1.1 Thermoset
- 5.1.2 Thermoplastic
-
5.2 End-user Industry
- 5.2.1 Aerospace and Defense
- 5.2.2 Energy
- 5.2.3 Automotive
- 5.2.4 Leisure
- 5.2.5 Electronics
- 5.2.6 Other End-user Industries
-
5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
- 6.4.1 ACP Composites, Inc.
- 6.4.2 Kordsa Teknik Tekstil A.Ş.
- 6.4.3 Barrday Inc.
- 6.4.4 Gurit Services AG, Zurich
- 6.4.5 Hexcel Corporation
- 6.4.6 Lingol Corporation
- 6.4.7 Mitsubishi Chemical Corporation
- 6.4.8 PARK AEROSPACE CORP.
- 6.4.9 SGL Carbon
- 6.4.10 Solvay
- 6.4.11 TEIJIN LIMITED
- 6.4.12 THE YOKOHAMA RUBBER CO., LTD
- 6.4.13 TORAY INDUSTRIES, INC.
- 6.4.14 ZYVEX TECHNOLOGIES
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Applications in Electronics
- 7.2 Other Opportunities
Carbon Prepreg Industry Segmentation
Carbon fiber impregnated with thermoset or thermoplastic resins is called carbon prepreg. The market is segmented by resin type, end-user industry, and geography. Resin types segment the market into thermoset resins and thermoplastic resins. By end-user industry, the market is segmented into aerospace & defense, energy, automotive, leisure, electronics, and other end-user industries. The report also covers the market size and forecasts for the floor coatings market in 15 countries across major regions. Each segment's market sizing and forecasts are based on revenue (USD).
| Resin Type | Thermoset | |
| Thermoplastic | ||
| End-user Industry | Aerospace and Defense | |
| Energy | ||
| Automotive | ||
| Leisure | ||
| Electronics | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Carbon Prepreg Market Research FAQs
How big is the Carbon Prepreg Market?
The Carbon Prepreg Market size is expected to reach USD 7.73 billion in 2024 and grow at a CAGR of 9.21% to reach USD 12.01 billion by 2029.
What is the current Carbon Prepreg Market size?
In 2024, the Carbon Prepreg Market size is expected to reach USD 7.73 billion.
Who are the key players in Carbon Prepreg Market?
Hexcel Corporation, TEIJIN LIMITED, Solvay, TORAY INDUSTRIES, INC. and SGL Carbon are the major companies operating in the Carbon Prepreg Market.
Which is the fastest growing region in Carbon Prepreg Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Carbon Prepreg Market?
In 2024, the Europe accounts for the largest market share in Carbon Prepreg Market.
Carbon Prepreg Industry Report
Statistics for the 2024 Carbon Prepreg market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Carbon Prepreg analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
