Market Summary
As per Market Research Future Analysis, the carbon fiber prepreg market was valued at USD 7.5 billion in 2020 and is projected to reach USD 17.1 billion by 2030, growing at a CAGR of 10.4% from 2024 to 2032. The material is favored for its lightweight and superior mechanical properties, making it suitable for various applications in the aerospace, automotive, and sports industries. However, the market faced challenges during the COVID-19 pandemic due to supply chain disruptions and decreased demand in key sectors. The epoxy resin segment dominates the market, while the hot melt manufacturing process is the most widely used. North America holds the largest market share, driven by strong demand in the aerospace and automotive sectors, followed by the rapidly growing Asia-Pacific region.
Key Market Trends & Highlights
The carbon fiber prepreg market is witnessing significant growth driven by various factors.
- Market value expected to grow from USD 7.5 billion in 2020 to USD 17.1 billion by 2030.
- CAGR of 10.4% anticipated during the forecast period from 2024 to 2032.
- Aerospace and defense industries account for the highest market value among end-users.
- North America holds the largest market share due to strong demand in aerospace and automotive sectors.
Market Size & Forecast
2020 Market Size | USD 7.5 Billion |
2030 Market Size | USD 17.1 Billion |
CAGR | 10.4% |
Largest Regional Market Share | North America. |
Major Players
Cytec Solvay Group, Royal TenCate N.V., Teijin Limited, Toray Industries, Inc., Hexcel Corporation, SGL Group, Gurit Holding AG, Park Electrochemical Corporation, Mitsubishi Rayon Co., Ltd., Axiom Materials.