Check Out Why Carbon Fiber Prepreg Market Is Trending Nowadays ? (Worth $11.5 Billion By 2024)

The use of carbon fiber prepreg is becoming crucial in aerospace & defense and automotive industries due to the increase in demand for high strength, operational stability at high temperatures, and lightweight materials. The carbon fiber prepreg market is projected to reach USD 11.5 billion by 2024, registering a CAGR of 10.5%, from 2019 to 2024.

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• Recent Developments -

• In May 2017, Hexcel Corporation entered into an agreement with Irkut Corporation (Russia) for the supply of HexPly carbon fiber/epoxy prepreg for the MC-21-300 new generation commercial aircraft.
• In March 2017, Solvay launched SolvaLite 730 prepreg for high volume automotive applications. It provides sub 60 seconds cure capability, exceptional toughness, and low tack. It is storage stable at room temperature.
• In March 2017, Toray Industries, Inc. expanded its carbon fiber capacity at its Jalisco plant in Mexico. This expansion will support the company’s strategy of meeting the growing demand for prepreg for automotive and wind energy applications.

From 2014 to 2018, new product launch and expansion were the key strategies adopted by industry players to maintain growth in the global carbon fiber prepreg market. These strategies accounted for 24% and 22%, respectively, of the overall strategies adopted between 2014 and 2018. The market players concentrated mainly on consolidation through new product launch and expansion with the intention of increasing their market shares and enhancing their sustainability.

• Leading Key Players -

The major manufacturers profiled in this report are SGL Group (Wiesbaden, Germany), Gurit Holdings AG (Wattwil, Switzerland), Park Electrochemical Corporation (Melville, U.S.), Toray Industries (Tokyo, Japan), Teijin Limited (Osaka, Japan), Royal TenCate N.V. (Almeo, The Netherlands), Hexcel Corporation (Connecticut, US), Solvay (Brussels, Belgium), Mitsubishi Rayon Co. Ltd. (Tokyo, Japan), Axiom Materials (California, US), and others. These companies have adopted various organic and inorganic growth strategies such as new product launches, agreements, and expansions to expand their global presence and increase their penetration into the carbon fiber prepreg market.

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Expansions and Agreements, Partnerships & Joint Ventures are the Key Development Strategies Adopted by the Leading Market Players to Drive the Carbon Fiber Market

Carbon fiber is a long, thin strand of material made from carbon; the carbon content is greater than 90% for standard modulus carbon and almost 100% for high modulus carbon fiber. Carbon fibers are used in various industries for aircraft & spacecraft parts, bicycle frames, golf shafts, badminton rackets, automobile springs, sailboat mats, automotive structural parts, and various other parts. The carbon fiber market is projected to reach USD 8.00 Billion by 2026, growing at a CAGR of 10.8%, from 2016 to 2026.

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The major manufacturers profiled in this report are, Toray Industries, Inc. (Japan), Hexcel Corporation (U.S.), SGL Group (Germany), Teijin Ltd. (Japan), Mitsubishi Rayon Co. Ltd. (Japan), DowAksa (Turkey), and Hyosung (Korea). These companies have adopted various organic and inorganic growth strategies such as, expansions and agreements, partnerships & joint ventures to strengthen their global presence and increase their penetration into the global carbon fiber market.

Carbon Fiber Market worth 8.00 Billion USD by 2026

The key companies offering carbon fiber are mainly involved in expansions and agreements, partnership & joint ventures to strengthen their positions in the carbon fiber market. Expansions was the key strategy adopted and had a share of 39.66% of all the growth strategies adopted by leading companies between 2011 to 2016. This strategy helped the companies to expand their presence in other regions and to cater to the increasing demand for carbon fiber from end-user industries. Companies also adopted the agreements, partnerships and joint ventures strategies to expand their product reach globally and take advantage of each other’s competencies to compete in the market. This strategy accounted for 22.41% of all the growth strategies adopted by the leading players.

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Toray Industries, Inc. (Japan) and SGL Group (Germany) were the major players that undertook the maximum number of growth strategies between 2012 and 2016 in the carbon fiber market. Toray Industries, Inc. is one of the leading companies and the largest contributors to the growth of the global carbon fiber market. It accounted for the largest share of all the development activities undertaken in the global carbon fiber market between 2012 and 2016. The company serves various industries including, aerospace & defense, automotive, electronics, and infrastructure. As a part of its growth strategy, the company focuses on expansions to meet the requirements of end-use industries globally. For instance, Toray subsidiary Carbon Magic Co., Ltd. (Thailand) recently expanded its production capacity with the opening of a new facility which will manufacture Carbon Fiber Reinforced Plastic (CFRP) parts.




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Carbon Fiber Market is Expected to Reach Worth 8.00 Billion USD by 2026

The report "Carbon Fiber Market by Product Type (Continuous, Long, Short), Raw Material (PAN, Pitch, Rayon), Form ( Composite, Non-Composite), End User Industry (Aerospace & Defense, Automotive, Wind Energy, Sporting Goods), and Region - Global Forecast to 2026 ", The global carbon fiber market is estimated to be valued at USD 2.87 Billion in 2016, and is projected to reach USD 8.00 Billion by 2026 at a CAGR of 10.8%.

Browse 81 market data tables and 54 figures spread through 149 pages and in-depth TOC on “Carbon Fiber Market by Product Type (Continuous, Long, Short), Raw Material (PAN, Pitch, Rayon), Form ( Composite, Non-Composite), End User Industry (Aerospace & Defense, Automotive, Wind Energy, Sporting Goods), and Region - Global Forecast to 2026 ”

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Composite form comprises a major share of the carbon fiber market in terms of value

Composite form of carbon fiber is used in various industries such as aerospace & defense, automotive, wind energy, sporting goods, pipe & tank, civil engineering, marine, and others. Carbon fiber offer high strength, rigidity, high tensile strength, and so on. On account of these properties, it is used in these end-use industries.

Continuous carbon fiber is expected to grow at the highest CAGR in the global carbon fiber market during the forecast period

Continuous carbon fibers offer higher tensile strength compared to other types of carbon fiber products. These fibers can be used in layup, weaving, prepregging, filament winding, braiding, and pultrusion processes for manufacturing composites parts for various end-use industries such aerospace & defense, automotive, and wind energy. Continuous carbon fiber are also used in the 3D printing industry as it offers stiffness and strength.

North America is expected to hold the largest market share in the carbon fiber market during the forecast period

North America is estimated to account for the largest share of the market in 2016. The growth of the carbon fiber market in the North American region is driven by the growing aerospace & defense, wind energy, and automotive industries due to the presence of established players and stringent environmental regulations stressing upon the use of carbon based composite. Some of the leading players such as Hexcel Corporation (U.S.) and Cytec Industries (U.S.) have accelerated their R&D efforts to provide good quality carbon fiber. Moreover, the Asia-Pacific region is witnessing rapid economic development and industrialization, which is also giving an impetus to the carbon fiber market in the region.

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Major vendors in the carbon fiber market include Hexcel Corporation (U.S.), Mitsubishi Rayon Co. Ltd. (Japan), Teijin Limited (Japan), Hyosung (South Korea) and others. These players have adopted various organic and inorganic developmental strategies during the past five years.



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Increasing Demand for Fuel Efficient Vehicles Dominating Carbon Fiber Market forecast to 2026

The report "Carbon Fiber Market by Product Type (Continuous, Long, Short), Raw Material (PAN, Pitch, Rayon), Form ( Composite, Non-Composite), End User Industry (Aerospace & Defense, Automotive, Wind Energy, Sporting Goods), and Region - Global Forecast to 2026 ", The global carbon fiber market is estimated to be valued at USD 2.87 Billion in 2016, and is projected to reach USD 8.00 Billion by 2026 at a CAGR of 10.8%.

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Some of the key global players in the carbon fiber market are, Hexcel Corporation (U.S.), Mitsubishi Rayon Co. Ltd. (Japan), Teijin Limited (Japan), Hyosung (South Korea), and others. These players have adopted various organic and inorganic developmental strategies during the past five years.

On the basis of End-Use Industry,

• Automotive
• Aerospace & defense
• Sporting Goods
• Wind Energy
• Civil Engineering
• Pipe & Tank
• Marine
• Electrical & Electronics
• Others

On the basis of Raw Material,

• PAN-based carbon fiber
• Pitch – based carbon fiber
• Rayon – based carbon fiber

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On the basis of Product Type,

• Continuous carbon fiber
• Long carbon fiber
• Short carbon fiber

Composite form comprises a major share of the carbon fiber market in terms of value

The composite form of carbon fiber is used in various industries such as, aerospace & defense, automotive, wind energy, sporting goods, pipe & tank, civil engineering, marine, and others. Carbon fiber offers high strength, rigidity, high tensile strength, and so on, due to which, it is used in these end-use industries.

Continuous carbon fiber is the largest product type for carbon fiber in terms of volume

Continuous carbon fiber offers higher tensile strength as compared to other types of carbon fiber products. These fibers can be used in layup, weaving, prepregging, filament winding, braiding, and pultrusion processes for manufacturing composite parts for various end-use industries such as, aerospace & defense, automotive, and wind energy. Continuous carbon fiber is also used in the 3D printing industry as it offers stiffness and strength.

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MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

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The carbon fiber prepreg market was valued at USD 3,861.0 million, in 2015, and is projected to reach USD 7,202.2 million by 2021 at a CAGR of 11.0% between 2016 and 2021.

The report "Carbon Fiber Prepreg Market by Resin Type (Epoxy, Phenolic, Bismaleimide, Cyanate Ester, Thermoplastic), Manufacturing Process (Hot Melt, Solvent Dip), Application (Aerospace & Defense, Automotive, Sports & Leisure, Wind) - Global Forecast to 2021", The carbon fiber prepreg market was valued at USD 3.86 Billion in 2015 and is projected to reach USD 7.20 Billion by 2021, at a CAGR of 11.0% between 2016 and 2021.

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The key players operating in the carbon fiber prepreg market are SGL Group (Wiesbaden, Germany), Gurit Holding AG (Wattwil, Switzerland), Park Electrochemical Corporation (Melville, U.S.), Toray Industries, Inc. (Tokyo, Japan), Teijin Limited (Osaka, Japan), Royal TenCate N.V. (Almeo, Netherlands), Hexcel Corporation (Connecticut, U.S.), Cytec Solvay Group (Brussels, Belgium), Mitsubishi Rayon Co., Ltd. (Tokyo, Japan), and Axiom Materials (California, U.S.), among others. These players have adopted various organic and inorganic development strategies to strengthen their position in the market.

Carbon fiber prepreg Market, By Resin type:

• Epoxy
• Phenolic
• Bismaleimide (BMI)
• Cyanate Ester
• Thermoplastic
• Others

arbon fiber prepreg Market, By Application:

• Aerospace & Defence
• Automotive
• Sports & Leisure
• Wind
• Others

Carbon fiber prepreg Market, By Manufacturing process:

• Hot Melt
• Solvent Dip

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Among resin types, the epoxy segment is leading the carbon fiber prepreg market, in terms of value.

The epoxy segment is leading the carbon fiber prepreg market, owing to increased use of epoxy resins in various applications, such as aerospace & defense, automotive, sports & leisure, and wind, among others. Epoxy resin-based carbon fiber prepregs offer high strength to weight ratio and increased resistance to heat, moisture, and corrosion. They require less maintenance and offer high durability.

Among applications, the aerospace & defense segment is leading the carbon fiber prepreg market, in terms of value and volume.

On the basis of application, the carbon fiber prepreg market has been segmented into aerospace & defense, automotive, sports & leisure, wind, and others. The aerospace & defense application segment is leading the carbon fiber prepreg market, in terms of value and volume. Carbon fiber prepregs are lightweight and offer resistance to moisture, chemicals, and corrosion. They have increased operational stability at high temperatures in comparison to materials made from other conventional materials, such as thermoset composites and metallic alloys. As such, carbon fiber prepregs are being increasingly used in the aerospace & defense industry, which, in turn, is fueling the growth of the aerospace & defense segment of the carbon fiber prepreg market.

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.


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MarketsandMarkets™ INC.
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Carbon Fiber Market is Expected to Reach Worth 8.00 Billion USD by 2026

[149 Pages Report]  Carbon fibers are composed of carbon atoms. These fibers provide several advantages such as high tensile strength, high stiffness, low weight, high chemical resistance and among other properties. The global carbon fiber market was valued at USD 2.87 Billion in 2016, and is projected to reach USD 8.00 Billion by 2026 at a CAGR of 10.8%.  The use of carbon fiber based composites are becoming crucial in the various end-user industries. Aerospace & Defense is the prime consumer of carbon fiber on account of its useful properties. The use of carbon fiber is quite established in the aerospace industry with 50% of aircraft‘s materials being composites.

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Some of the key global players in the carbon fiber market are, Hexcel Corporation (U.S.), Mitsubishi Rayon Co. Ltd. (Japan), Teijin Limited (Japan), Hyosung (South Korea), and others. These players have adopted various organic and inorganic developmental strategies during the past five years.

On the basis of End-Use Industry,

• Automotive
• Aerospace & defense
• Sporting Goods
• Wind Energy
• Civil Engineering
• Pipe & Tank
• Marine
• Electrical & Electronics
• Others

On the basis of Raw Material,

• PAN-based carbon fiber
• Pitch – based carbon fiber
• Rayon – based carbon fiber

For More Info: https://www.marketsandmarkets.com/Market-Reports/carbon-fiber-396.html

Composite form comprises a major share of the carbon fiber market in terms of value
The composite form of carbon fiber is used in various industries such as, aerospace & defense, automotive, wind energy, sporting goods, pipe & tank, civil engineering, marine, and others. Carbon fiber offers high strength, rigidity, high tensile strength, and so on, due to which, it is used in these end-use industries.

Continuous carbon fiber is the largest product type for carbon fiber in terms of volume
Continuous carbon fiber offers higher tensile strength as compared to other types of carbon fiber products. These fibers can be used in layup, weaving, prepregging, filament winding, braiding, and pultrusion processes for manufacturing composite parts for various end-use industries such as, aerospace & defense, automotive, and wind energy. Continuous carbon fiber is also used in the 3D printing industry as it offers stiffness and strength.

North America accounts for a major market share in the carbon fiber market
The growth of the carbon fiber market in the North American region is driven by the growing aerospace & defense, wind energy, and automotive industries due to the presence of established players and stringent environmental regulations stressing upon the use of carbon based composites. Some of the leading players such as, Hexcel Corporation (U.S.) and Cytec Industries (U.S.) have accelerated their R&D efforts to provide good quality carbon fiber. Moreover, the Asia-Pacific region is witnessing rapid economic development and industrialization, which is also giving an impetus to the carbon fiber market in the region.

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
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USA : +1-888-600-6441
Email: newsletter@marketsandmarkets.com

Significant Opportunities in the Carbon Fiber Prepreg Market - Global Forecast to 2021

The use of carbon fiber prepreg is becoming crucial in the aerospace and automotive industries due to increase in demand for lightweight materials that possess high strength and increased operational stability at high temperatures. The carbon fiber prepreg market is projected to reach USD 7.20 billion by 2021, growing at a CAGR of 11.0% from 2016 to 2021.

The key companies of operating in the carbon fiber prepreg market are mainly involved in new product launches and agreements to strengthen their position in the market. They have adopted these strategies to improve their distribution channels and strengthen their presence in developed as well as emerging economies.

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Toray Industries, Inc. (Tokyo, Japan), Teijin Limited (Osaka, Japan), Hexcel Corporation (Connecticut, U.S.), and Cytec Solvay Group (Brussels, Belgium) are the major companies, which reported maximum developments in the carbon fiber prepreg market between 2012 and 2016. Cytec Solvay Group (Brussels, Belgium) is one of the world’s largest manufacturers of carbon fiber prepreg materials. It accounted for the largest share of all development activities that took place in the carbon fiber prepreg market between 2012 and 2016. The company follows dynamic growth strategies, such as agreements, new product launches, acquisitions, and joint ventures to strengthen its geographic presence and customer base. For instance, in July 2016, Cytec Solvay Group entered into a joint venture with Mubadala Development Company (Abu Dhabi, UAE), which is an investment and development company, to supply empennage and floor beams for 777X program of Boeing.

Among applications, the aerospace & defense segment is leading the carbon fiber prepreg market, in terms of volume and value. The growth of this segment can be attributed to increased use of carbon fiber prepregs in the aerospace & defense application segment as they provide more structural strength as compared to metallic alloys and are light in weight. Carbon fiber prepregs are used for constructing various interior and exterior components of aircraft. Carbon fiber prepregs possess high strength. They increase fuel efficiency, decrease emission of greenhouse gases, and are able to work at high temperatures and in wet environments. The aerospace & defense application segment of the carbon fiber prepreg market is projected to grow at the highest CAGR during the forecast period, 2016 to 2021. Carbon fiber prepregs help to minimize corrosion, thereby enhancing the life of products manufactured using carbon fiber prepregs. Furthermore, as carbon fiber prepregs help to increase shelf-life of products with low maintenance requirements, their demand is growing in the automotive and sports & leisure end-use industries.

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The key players in the carbon fiber prepreg market have adopted strategies of agreements, new product launches, acquisitions, and expansions to strengthen their position in the market. The major companies operating in this market are SGL Group (Wiesbaden, Germany), Gurit Holding AG (Wattwil, Switzerland), Park Electrochemical Corporation (Melville, U.S.), Toray Industries, Inc. (Tokyo, Japan), Teijin Limited (Osaka, Japan), Royal TenCate N.V. (Almeo, Netherlands), Hexcel Corporation (Connecticut, U.S.), Cytec Solvay Group (Brussels, Belgium), Mitsubishi Rayon Co., Ltd. (Tokyo, Japan), and Axiom Materials (California, U.S.), among others.