Carbon Fiber Prepreg Market to Reach USD 22.3 Billion by 2031 | CAGR 12.5% | North America Leads with 35% Share | Key Players: Hexcel Corporation, Toray Industries, SGL Group

Market Overview

The global carbon fiber prepreg market reached USD 8.7 billion in 2022 and is projected to grow to USD 22.3 billion by 2031, expanding at a CAGR of 12.5% during the forecast period 2024-2031. Market growth is being driven by innovation and increasing demand in high-tech sectors such as aerospace, defense, and advanced transportation. The rising adoption of combat drones and loitering munitions by global militaries is expected to boost demand for carbon fiber prepregs, as these applications rely on composites to reduce weight and enhance stealth capabilities. For example, the Lancet-3 loitering munition has been widely deployed during the Russia-Ukraine conflict, highlighting operational reliance on lightweight composites. Additionally, the expansion of national space programs in emerging economies, such as China and India, is fueling growth, with planned manned and unmanned missions requiring high-performance composite materials. For instance, ISRO's Chandrayaan-3 moon mission, launched in July 2023, underscores the increasing need for carbon fiber prepregs in advanced space applications.

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Recent Developments:

✅ January 2026: A leading composite materials producer announced the launch of a next‐generation high‐temperature carbon fiber prepreg tailored for advanced aerospace applications, offering improved thermal stability and impact resistance.

✅ November 2025: A major European aerospace supplier expanded its carbon fiber prepreg production capacity with a new automated facility, addressing growing demand from commercial aircraft OEMs and defense integrators.

✅ September 2025: A global materials technology company unveiled a sustainable bio‐based carbon fiber prepreg line, reducing reliance on traditional petroleum‐based resins while maintaining high mechanical performance.

✅ June 2025: A strategic partnership was formed between a U.S. composite manufacturer and a leading automotive OEM to develop lightweight prepreg solutions for electric vehicle (EV) structural components, aiming to improve range and energy efficiency.

✅ March 2025: An Asian composite materials firm introduced an ultra‐high modulus carbon fiber prepreg for next‐generation satellite and space launch vehicle structures, supporting expanding space missions.

✅In July 2022, Hexcel Corporation, a U.S.-based industrial materials company, announced that it had signed an agreement with Dassault Aviation, a French aerospace company, to supply carbon fiber prepreg for the new Dassault F10X business jet.

✅In February 2023, Toray Industries, a Japanese materials company, announced that it had supplied its proprietary TORAYCA carbon fiber prepreg for the motor casing of the H3 rocket launched by the Japanese Aerospace Exploration Agency (JAXA).

Mergers & Acquisitions:

✅Solvay S.A. acquired Cytec Industries Inc., significantly expanding its carbon fiber prepreg and advanced composites portfolio to strengthen its position in aerospace and high‐performance applications.

✅Toray Industries, Inc. acquired TenCate Advanced Composites Holding B.V. (TCAC), enhancing its composite materials capabilities with high‐heat‐resistant and aerospace‐grade prepregs, further consolidating its leadership in the market.

✅Teijin Limited completed the acquisition of Renegade Materials Corporation, boosting its thermoset prepreg offerings for aerospace and defense sectors and broadening its geographic and product reach.

✅Kordsa Teknik Tekstil acquired a majority stake in Microtex Composites S.r.l., reinforcing its position in carbon fiber and prepreg production in Europe and targeting growth in automotive and motorsports composite applications.

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Key Players:
Hexcel Corporation | Toray Industries, Inc. | SGL Group | Teijin Carbon Europe GmbH | Gurit Holding | Plastic Reinforcement Fabrics Ltd | TEI Composites Corporation | Mitsubishi Chemical Carbon Fiber and Composites, Inc. | Axiom Materials, Inc. | Park Electrochemical Corp.

Key Highlights:

Hexcel Corporation - Holds a 15% share, driven by its advanced aerospace-grade prepreg solutions and global production capabilities.

Toray Industries, Inc. - Holds a 14% share, fueled by its lightweight, high-strength prepregs for aerospace, automotive, and industrial applications.

SGL Group - Holds a 12% share, supported by its diverse prepreg portfolio for automotive, industrial, and energy sectors.

Teijin Carbon Europe GmbH - Holds an 11% share, focused on aerospace-grade prepregs and high-temperature resistant composites.

Gurit Holding - Holds a 9% share, specializing in lightweight structural composites for marine, industrial, and wind energy applications.

Plastic Reinforcement Fabrics Ltd - Holds an 8% share, providing high-quality prepregs for wind energy, aerospace, and industrial composites.

TEI Composites Corporation - Holds a 9% share, offering aerospace and industrial-grade prepreg materials with strong R&D capabilities.

Mitsubishi Chemical Carbon Fiber and Composites, Inc. - Holds a 10% share, driven by global aerospace, automotive, and industrial partnerships.

Axiom Materials, Inc. - Holds an 6% share, catering to industrial, defense, and specialty composite applications.

Park Electrochemical Corp. - Holds a 6% share, focused on prepregs for printed circuit boards, aerospace, and high-performance composites.

Market Segmentation:

By Resin
Epoxy resins dominate the carbon fiber prepreg market, holding around 65% share due to their excellent mechanical properties, high temperature resistance, and widespread adoption in aerospace and industrial applications. Thermoplastic prepregs account for roughly 25% share, driven by growing demand in automotive and industrial sectors for faster curing cycles, recyclability, and impact resistance. Other resin types, including bismaleimide (BMI) and phenolic resins, hold about 10% share, largely used in specialty applications such as high-temperature aerospace and defense components.

By End-User
The aerospace sector is the largest consumer of carbon fiber prepregs, representing approximately 40% of the market, due to the material's high strength-to-weight ratio and its role in fuel-efficient aircraft and spacecraft structures. The wind energy segment follows with a 20% share, driven by the need for lightweight, durable blades in onshore and offshore wind turbines. Automotive applications account for around 15% share, fueled by lightweighting trends and the increasing use of electric vehicles. Sports and recreation products make up about 10% share, including high-performance bicycles, racing boats, and sporting equipment. The remaining 15% is shared among industrial, defense, and specialty applications where carbon fiber prepregs provide structural performance and corrosion resistance advantages.

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Regional Insights:

North America dominates the carbon fiber prepreg market, holding approximately 35% share, driven by strong aerospace and defense demand in the U.S. and Canada, coupled with investments in advanced manufacturing and innovation in lightweight composites.

Europe accounts for around 30% share, supported by extensive adoption in aerospace, wind energy, and automotive lightweighting initiatives, particularly in Germany, France, and the U.K. Asia-Pacific is a fast-growing region with an estimated 25% share, fueled by expanding aerospace programs, automotive lightweighting trends, and rising demand for wind energy in China, India, and Japan.

Rest of the World (RoW) represents the remaining 10%, primarily driven by niche industrial applications, defense programs, and emerging demand in South America and the Middle East.

Market Dynamics:

Drivers:
Increasing Demand for Fuel-Efficient Aircraft
The global aerospace sector is witnessing heightened competition among major players like Boeing and Airbus, driving the development of more fuel-efficient and aerodynamic aircraft. Airlines, operating on thin profit margins, prioritize maximizing fuel efficiency to reduce operating costs. Aircraft such as Boeing's 777X and Airbus's A350 are designed with lightweight, high-strength materials to enhance fuel efficiency and performance. This trend has significantly increased the adoption of carbon fiber composites, which have largely replaced traditional materials such as aluminum. Carbon fiber prepregs are extensively utilized in critical aircraft structures, including fuselages and wings, due to their superior strength-to-weight ratio, corrosion resistance, and ability to reduce overall aircraft weight, thereby lowering fuel consumption.

High Cost of Carbon Fiber Prepreg
Despite their advantages, carbon fiber prepregs remain relatively expensive compared to conventional materials like metals and plastics. The current average price of carbon fiber is approximately USD 21.5 per kg, reflecting the complex manufacturing processes and high-quality raw material requirements. Conversion efficiency in carbon fiber production is around 50%, meaning large quantities of raw material are needed to produce a limited amount of prepreg. Limited production capacities by major suppliers further constrain availability, maintaining high prices. This cost factor restricts the adoption of carbon fiber prepregs, especially in price-sensitive industries, and continues to pose a challenge to the growth of the global carbon fiber prepreg market.

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