Carbon Fiber Prepreg Market to 2024 – Growing Steady at 10.5% CAGR and Projected to Reach US$ 11.5 Billion

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The Carbon Fiber Prepreg Market is projected to reach US$ 11.5 Billion by 2024, at a CAGR of 10.5% between 2019 and 2024. The major drivers stimulating the carbon fiber prepreg market are an increase in demand for carbon fiber prepreg in electric cars and growing commercial aircrafts production.

“Aerospace & defense is the fastest-growing end-use industry in the carbon fiber prepreg market, in terms of value.”
The aerospace & defense industry constituted a major portion in the carbon fiber prepreg market, by value and volume. The properties exhibited by carbon fiber prepreg is one of the factors driving the carbon fiber prepreg market in the aerospace & defense industry, as they offer a complete solution including lightweight, ease of construction, resistance against corrosion & chemicals, and operational stability at high temperatures.

“Europe is the fastest-growing market for carbon fiber prepreg.”
Europe is expected to be the fastest-growing carbon fiber prepreg market during the next five years. The main factor that is expected to contribute to this grow this the increasing demand from the aerospace, automotive, and wind energy industries in the region. The market in the region is driven by the presence of large aircraft manufacturers, electric car manufacturers, and offshore wind farm installations in the region. In 2015, BMW started using carbon fiber implants in its 7-series sedan. There are a large number of offshore wind energy installations, especially in the UK and Germany.

These primary sources have been divided into the following three categories:
• By company type- Tier 1- 35%, Tier 2- 25%, and Tier 3-40%
• By designation- C Level- 35%, Director Level- 30%, and Others- 35%
• By region- North America- 25%, Europe- 30%, APAC- 30%, Latin America-5%, and Middle East & Africa-10%

The Study Objectives of this report are:

• To define, describe, and forecast the market on the basis of five regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America

• To define, describe, and forecast the market size of carbon fiber prepreg market, in terms of value and volume

• To analyze and forecast the market on the basis of resin type, manufacturing process, and end-use industry

• To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market

• To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders

• To strategically profile the key players and comprehensively analyze their market share and core competencies

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Carbon Fiber Prepreg Market Top Key Players: Solvay (Belgium),Royal TenCate N.V. (Netherlands),Teijin Limited (Japan),Toray Industries, INC. (Japan),Hexcel Corporation (Connecticut, US),SGL Group (Germany),Gurit Holdings AG (Wattwil, Switzerland),Park Electrochemical Corporation (Melville, US),Mitsubishi Rayon Co. Ltd. (Tokyo, Japan),Axiom Materials (California, U.S.).

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This release was published on openPR.