PRESS RELEASE
Published July 11, 2023
The global carbon prepreg market was valued at US$ 4.9 billion in 2021 and is projected to reach US$ 15.7 billion by 2032, registering a CAGR of 11.5% from 2022 to 2032. Epoxy-based Carbon Prepreg Resin type is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 13% during 2022 – 2032.
The key markets for carbon prepreg include Aerospace and Defence where the Carbon prepreg accounts for around 50% of the whole aeroplane build. Besides, sports and leisure is another prominent industry where most of the equipment are made from carbon prepreg.
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Key Takeaways from the Study
• Carbon Prepreg Market was valued at US$ 4.9 Bn in 2021. According to Fact.MR, Carbon Prepreg Market revenue would increase 3.2X between 2022 and 2032, reaching roughly US$ 15.7 Bn in 2032.
• In terms of Product/Resin Type, Epoxy Resin is projected to account for the highest projected CAGR of over 9.8%. in FY 2017 to 2021 & CAGR of over 13.0% from 2022 to the end of the forecast (2032).
• In terms of application, Aerospace & Defence accounted for the highest CAGR of 9.6% during the historical period.
• US is the dominant country in Carbon Prepreg Market with an absolute dollar growth opportunity of over US$ 2.7 Bn. Behind U.S., the market in U.K. is expected to register an absolute dollar growth of US$ 706.0 Mn.
The Carbon Prepreg market suffered during Covid-19, due to the deferral of operations in 2020. Following the economic recovery from the Covid-19 outbreak, demand for Carbon Prepreg started to pick pace. During Covid-19, the aerospace and defence industry’s production slowed down. For instance, the CFRP-heavy A350 developed by Airbus SE being manufactured 12 times a month before the pandemic which came down to 5 times a month, while the production of the 787 Dreamliner dropped from 14 to 6 times a month.
Competitive Landscape
Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in Carbon Prepreg market are focused on their alliances, technology collaborations, and product launch strategies.