Prepreg carbon fibre is a conventional form of carbon fibre, specially pre-impregnated with a thermoplastic or thermoset resin matrix during the manufacturing process. Most commonly used resins are epoxy resins, phenolic resins, thermoplastic resins and BMI resins. Carbon fibre prepregs are light weight, easy to fabricate, have high tensile strength and are resistant to moisture, chemicals and corrosion. They also have improved impact resistance with increased operational stability at high temperatures and pressure.
Increasing demand from emerging economies as well as increasing industrialisation and manufacturing will boost the growth of the global carbon fibre prepreg market during the forecast period.
Global Carbon Fibre Prepreg market: Drivers and Restraints
The carbon fibre prepreg market is heavily reliant on aerospace & defence, automotive and wind industry. Carbon fibre prepregs are lightweight and easy to fabricate and hence, used by major aerospace companies to manufacture combat, commercial and cargo transport aircrafts. Demand for carbon fibre prepregs from the automotive industry is increasing owing to robust demand from emerging countries. The global carbon fibre prepreg market is projected to grow at a high growth rate amidst its growing demand for industrial, commercial and residential activities.
Growth in the renewable energy market, particularly wind energy, is another factor driving the demand for carbon fibre prepregs. Frequent power cuts, blackouts, voltage fluctuation and load shedding have led to increased demand for wind power in residential buildings and this in turn, is likely to fuel the growth of the carbon fibre prepreg market. Supportive government policies in the form of tax benefits and subsidies can further add to the growth of the wind energy market. The highly volatile fossil fuel prices are likely to encourage more investments in the renewable energy sector and hence, create more opportunities for the wind energy. This, in turn, will benefit the carbon fibre prepreg market in the long run.
High manufacturing and processing cost is seen as a major restraint for the carbon fibre prepreg market. Recycling of carbon fibre prepregs is expensive and this can prove to be another factor responsible for hampering the growth of this market. Providing a good product at reasonable prices could be a major challenge for carbon fibre prepreg manufacturers. Development of advanced software tools for product development can provide good opportunities for manufacturers.
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Global Carbon Fibre Prepreg market: Segmentation
On the basis of resin type, the global Carbon Fibre Prepreg market can be segmented into:
- Epoxy resin
- Phenolic resin
- BMI resin
- Cyanate ester resin
- Thermoplastic resin
- Other resins
On the basis of manufacturing process, the global Carbon Fibre Prepreg market can be segmented into:
- Hot melt process
- Solvent DIP process
On the basis of end use industries, the global Carbon Fibre Prepreg market can be segmented into:
- Aerospace & Defence
- Sports & Leisure
- Wind energy
Global Carbon Fibre Prepreg market: Region Wise Outlook
As of 2016, owing to rapid industrialisation and aggressive expansion of the manufacturing sector, APEJ is expected to be the fastest growing Carbon Fibre Prepreg market. There is high demand for Carbon Fibre Prepreg from countries such as China, Japan, India, Singapore and South Korea. North America is anticipated to dominate the Carbon Fibre Prepreg market during the forecast period. This high growth is attributed to the growing demand from aerospace & defence and automotive industries. Europe is the other prominent market in terms of rising demand for Carbon Fibre Prepreg. The steady growth in German automobile industry is the major driving factor in this region. Middle East, Latin America and Africa are expected to expand at a relatively lower CAGR over the forecast period.
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Global Carbon Fibre Prepreg market: Market Participants
Examples of some of the market participants in the global Carbon Fibre Prepreg market identified across the value chain include:
- HC Composite
- Royal Tencate N.V.
- Cytec Solvay Group
- Hexcel Corporation
- Gurit Holding AG
- Kineco Pvt Ltd
- Zyvex Technologies
- Mitsubishi Rayon Co. Ltd.
- TCR Composites
- PRF Composite Materials
- Toray Industries Inc.
- Teijin Limited
- Park Electrochemical Corporation
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