According to the latest market research report prepared by MarketsandMarkets™, the global carbon fiber prepreg market size is expected to grow from US$1.5 billion in 2020 to US$2.6 billion in 2025, with a compound annual growth rate of 12.0%.
On May 27, 2020, the latest market research report "Global Prediction of Carbon Fiber Prepreg Tape Market 2025" prepared by MarketsandMarkets™ is released. The global carbon fiber prepreg tape market is expected to grow from USD 1.5 billion in 2020 to 2025. 2.6 billion US dollars, a compound annual growth rate of 12.0%.
Prepreg tapes are mainly used in the aerospace and sporting goods industries for the manufacture of wing spars, fuselage skins, bicycle frames, golf clubs, etc.; they are also used in wind energy, automobiles, pipes and fuel tanks, medical industries, Turbine blades, cosmetic parts, prostheses and other applications. The emergence of new technologies such as automatic fiber placement and automatic tape placement has provided accurate, fast and economical composite material layup for the production of composite parts. At present, the main market competitors in the carbon fiber prepreg include: Teijin Japan, Toray Japan, Hirsch of the United States, Mitsubishi Chemical of Japan, SGL of Germany and so on.
In terms of resin types, epoxy resins account for a major share of the carbon fiber prepreg market. Epoxy resin is the most widely used resin for carbon fiber prepreg. As a thermosetting resin, it is well-known for its excellent mechanical, electrical and high heat resistance properties. In addition, it can also be used for a variety of curing agents. Compared with other resins, it has better physical, mechanical and adhesive properties, and low shrinkage. Carbon fiber prepreg tape formulated with epoxy resin as a matrix has improved toughness, impact strength, and moisture resistance and corrosion resistance.
As far as the molding process is concerned, the hot melt manufacturing process will account for the largest share of the global carbon fiber prepreg tape market during the forecast period. In the hot melt manufacturing process, fibers are impregnated into the resin by using heat and pressure. Due to the use of water-based and solvent-free adhesives, it is also an environmentally friendly process. In the hot melt process, a resin with a very low percentage of solvent is used to manufacture carbon fiber prepreg tape. This process requires less coating and allows high-speed production without thermal stress on the substrate. The process is used to manufacture carbon fiber prepreg tapes for aerospace, sporting goods, marine, wind energy, medical and other industries.
In terms of applications, the aerospace and defense end-use industries will remain the world's largest market for carbon fiber prepreg. The aviation industry has grown significantly in recent years, and it is expected that the size of the global aircraft fleet will double in the next two decades. Carbon fiber tape is widely used in the aerospace industry in the form of prepreg tape. Carbon fiber prepreg tapes have a higher specific strength than other traditional aerospace materials, thus contributing to more effective design in terms of structure and aerodynamics. In addition, the carbon fiber belt on the aircraft can achieve high strength, high rigidity and high wear resistance. They are used in the primary and secondary structures of aircraft.
In terms of regional markets, North America is the largest carbon fiber ribbon market in 2019. The growth of carbon fiber prepreg in North America in 2019 is mainly due to the demand of the aerospace and defense industries in the region. Due to product innovation and technological progress, it is expected that the demand for carbon fiber tape will increase in the aerospace and defense, sports goods, marine and other industries. Improved carbon fiber tape composite material technology solutions, excellent performance and increasing penetration in various end-use industries have further promoted the growth of the market in the region.