The carbon prepreg market is expected to register a CAGR of over 9%, during the forecast period. Emphasis on green energy sources and growing demand for CFRP components are the major factors that is driving the market.
New York, March 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Carbon Prepreg Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05877792/?utm_source=GNW
- The aerospace and defence sector dominated the market and is expected to grow 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, with a share of over 35%, followed by North America and Asia-Pacific.
Key Market Trends
Increasing Demand from the Aerospace and Defence Industry
- Traditionally, the manufacturers in aerospace have turned to carbon composites for their significant weight reductions and cost savings, compared to the conventional aerospace materials, such as aluminum. Most of the 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 satellite, and launchers.
- Carbon fiber composites, owing to their properties, such as high strength, stiffness, heat and chemical resistivity, and various other thermal and chemical properties, etc., are used in aerospace and defense applications.
- Carbon composite materials are emerging as an integral part of the aerospace industry. Moreover, these composite materials are now increasingly being used in military vehicles, as they offer benefit of high strength, stability, endurance, etc.
- Furthermore, thermoplastic prepregs are increasingly being considered for new applications in primary structural components, such as stringers or stiffeners, wing boxes, and fuselage panels.
- Teijin, one of the largest carbon prepreg companies, is rapidly expanding its market for next-generation aircrafts by developing midstream-to-downstream lineups and related applications, such as cost-effective carbon fibers with higher-tenacity and higher-tensile modulus and intermediate materials, including thermoplastic prepreg. Likewise, all the other major players are focusing more on the production of aerospace grade carbon prepregs.
- This scenario in the aerospace industry is expected to continue driving the growth for the carbon prepreg market in the long term.
Europe to Dominate the Market
- Europe has dominated the global market. The German economy is the largest in Europe, and the fifth-largest in the world.
- Germany leads the European automotive market, with 41 assembly and engine production plants that contribute to one-third of the total automobile production in Europe. Germany, which is one of the leading manufacturing bases of the automotive industry, is home to manufacturers from different segments, such as equipment manufacturers, material and component suppliers, engine producers, and whole system integrators.
- Germany, being one of the leading manufacturing bases for the aircraft industry, is home to manufacturers from different segments, such as equipment manufacturers, material and component suppliers, engine producers, and whole system integrators.
- The country 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.
- 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 production of aircraft, is also expected to contribute to the market growth during the forecast period.
The global carbon prepreg market is consolidated in nature, with top five players accounting for a major share of the market studied. Major recognized players include TEIJIN LIMITED, Hexcel Corporation, TORAY INDUSTRIES INC., SGL Carbon, and Solvay, among others.
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