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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Building and Construction to Be the Major Application of Natural Fiber Composites, 2016-2021

The report "Natural Fiber Composites Market by Type (Wood Fiber and Non-Wood Fiber), Manufacturing Process (Compression Molding, Injection Molding, and Others), Application (Building & Construction, Automotive, and Electrical & Electronics), and Region - Global Forecasts to 2021", The market size of Natural Fiber Composites (NFCs) is projected to reach USD 6.50 Billion by 2021, at a CAGR of 11.68%, between 2016 and 2021. This growth is attributed to the high demand for NFCs in the construction and automotive industry, driven by the regulatory norms, and superior performance. Lightweight, high stiffness-to-weight ratio, consumer awareness regarding recyclable, and biodegradable materials, are  advantages of the use of NFCs in the  composites market.

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Some of the key global players prevailing in the NFCs market are Trex Company, Inc., Advanced Engineering recycling technologies, Inc. (AERT), Fiberon LLC (U.S.), UPM Biocomposites (Finland), FlexForm Technologies (U.S.), among others. These players have adopted various organic and inorganic developmental strategies in  the past five years. For instance, FlexForm Technologies formed FlexForm Korea Ltd. for the acquisition and operation of factories and production lines in Jeonju City and Cheonan, South Korea.

On the Basis of Type, NFCs market is segmented into:

• Wood
• Non-wood

On the Basis of Manufacturing Processes, NFCs market is classified as:

• Compression molding
• Injection molding
• Other processes

On the Basis of Application, NFCs market is segmented into:

• Building & construction
• Automotive
• Electronics & electricals
• Others

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Manufacturing process: Compression molding comprises a major share in the NFCs market

Compression molding is the most widely used manufacturing process of NFCs. Automotive and construction industries are the key users of compression molded NFCs due to their benefits, such as cost effectiveness, high reproducibility, low cycle time, homogenous distribution of long fibers in  fleece, lesser wastage of raw material and lower tooling costs. Heavy and intricate complex parts with good surface finish can be made with the help of compression molding, which make it suitable in the construction industry. In the automotive industry, it is used to produce interior parts of automobiles with higher strength and stiffness.

Construction & Automotive industry is at the forefront and driving the NFCs market

The demand for NFCs in the construction industry for outdoor deck floors, railings, fences, landscaping timbers, park benches, window and door frames, and indoor furniture has grown remarkably on the global platform. This is due to their superior strength-to weight ratio, recyclability, and low cost.  Further, NFCs are becoming popular and essential for making automotive components such as seatbacks, parcel shelves, boot linens, front and rear door linens, truck linens, and door-trim panels due to their lightweight and increased fuel efficiency.

North America accounts for a major market share of NFCs market

The North America region accounts for the largest market of NFCs, globally, due to the high demand from the construction industry and regulatory norms requiring   the use of ecofriendly materials. Along with the existing capacities, several NFCs manufacturers, are expanding their production capacities. According to the Department of  Environment Food & Rural Affairs (DEFRA) report, almost 1.5 million vehicles included applications for natural fibers such as kenaf, jute, flax, hemp and sisal in combination with thermoplastic polymers such as polypropylene and polyester. The demand for NFCs in North America is projected to continuously increase in the near future on account of significant performance at lower prices of NFCs in automotive and construction applications driven by regulatory standards recommending the  use of lightweight and recyclable materials.

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