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Carbon Fiber Prepreg Market 2020 Growth Analysis and Trends Forecast to 2025
Carbon Fiber Prepreg Market
Based on resin type, market is segmented into epoxy resin, phenolic resin, polyimide resin, BMI resin, thermoplastic resin and other resins which include cyanate ester resin, etc. Epoxy resin will dominate this segment owing to its wide range of applications in aerospace & defense, wind energy, sports & recreation, automotive and other industries.
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One of the major factors driving the growth of carbon fiber prepreg market is the extensive use of the product in automotive industry. Owing to its lightweight characteristics, the product is widely used for the fabrication of bumpers, instrument panels, weather strip, air backs, ceiling materials, etc. in the automotive industry.
In 2015, automotive giant BMW started carbon fiber implantations in its 7-series sedan, which has started a new trend for the autocomposites in the industry. Such trends will drive the carbon fiber prepreg market growth in coming years. Global automotive production has witnessed a growth of over 6% between 2014 and 2018 owing to the fast developing nations in the Asia Pacific region.
Carbon Fiber Prepreg Industry, By Resin Type, 2014-2025
• Epoxy resin
• Phenolic resin
• Polyimide resin
• Thermoplastic resin
• BMI resin
• Others
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In the regional segment, Europe will have a dominant position owing to the high product demand in many end-use industries. The regional carbon fiber prepreg market is majorly driven by the presence of large automotive manufacturers, aircraft manufacturers and offshore wind-farm installations. In 2017, UK witnessed additional offshore wind power capacity installation of 1,680 MW as per GWEC (Global Wind Energy Council), which has boosted the regional demand for carbon fiber prepreg.
Key players in the global carbon fiber prepreg market include SGL Group, Solvay SA, Gurit Holdings AG, Toray Industries, Park Electrochemical Corporation, Hexcel Corporation, Mitsubishi Rayon Co. Ltd., Axiom Materials, etc.
Read more: https://www.gminsights.com/industry-analysis/carbon-fiber-prepreg-market
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