April 18, 2024

Carbon Prepreg Market is Driven by Growing Demand of Lightweight and High Strength Composite Materials in Aerospace Industry

Carbon fiber prepreg is a light, strong, and durable composite material made by impregnating carbon fibers with a thermoset resin matrix. It offers advantages like high mechanical strength, stiffness, toughness, fatigue resistance and corrosion resistance. Carbon fiber prepreg finds widespread applications in aerospace components like wings, fuselages, empennages and interiors due to its high strength-to-weight ratio and exceptional fatigue and corrosion resistance.

The global carbon fiber prepreg market is estimated to be valued at US$ 9728 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Traditional thermoset carbon prepregs require high heat and pressure during manufacturing which limits their recyclability and production flexibility. Thermoplastic prepregs address these issues as they can be reshaped and reformed on heating, enabling recycling of scrap material. Leading players like Solvay and Toray are focusing on development of PEEK and PEKK based thermoplastic prepreg systems for applications in aviation and space industries where repeatability and recyclability are highly valued.

Porter’s Analysis
Threat of new entrants: High capital requirements for setting up manufacturing plants pose challenges for new entrants into the carbon prepreg market.

Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of alternatives in the market.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes.

Threat of new substitutes: New substitutes like epoxy prepregs offer competition but carbon prepreg has its uses in niche applications.

Competitive rivalry: Intense competition among existing players.

Key Takeaways
The Global Carbon Prepreg Market Size is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis: North America dominated the global carbon prepreg market in 2024 owing to large presence of aerospace and defense industry in the US and Canada. Asia Pacific is expected to be the fastest growing region on account of increasing investments in end-use industries across China, Japan and India.

Key players: Key players operating in the carbon prepreg market are 3M, Arkema Group (Bostik SA), H.B. Fuller Company, Henkel AG & Co. KGaA, Master Bond Inc., Nexus Adhesives, Permabond LLC, Pidilite Industries Ltd, Sika AG, and Threebond International Inc. 3M has a strong global footprint in carbon prepreg tapes. Henkel AG & Co. KGaA offers carbon prepregs for diverse end-use applications.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it