The carbon fiber prepreg market share is projected to post an incremental growth of USD 933.19 million, accelerating at a CAGR of 6.64% during the forecast period. The carbon fiber prepreg market growth is driven by the growth of wind power capacities. However, the factors such as high cost related to carbon composites may impede the market growth.
Technavio's research report provides detailed insights into growth drivers that are likely to boost the market. It also provides an analysis of all the segments, trends and challenges that are expected to impact the market in focus. This research will thus equip business leaders with data and insights necessary for designing future ready strategies for growth and development.
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The growth of wind power capacities is notably driving the carbon fiber prepreg market growth. In addition, the increasing demand for fuel-efficient vehicles is one of the major carbon fiber prepreg market trends which will positively influence the market growth. However, the high cost related to carbon composites is one of the hindrances for the carbon fiber prepreg market.
The carbon fiber prepreg market report provides a comprehensive analysis of all the other factors that will boost growth during the forecast period. The analysis is designed to empower clients with actionable insights that will help them leverage growth opportunities and formulate winning strategies to drive their business further.
The carbon fiber prepreg market is segmented by Type (Thermoset and Thermoplastics), Application (Aerospace and defense, Wind energy, Sports equipment, and Automotive parts), and Geography (North America, Europe, APAC, South America, and MEA).
The carbon fiber prepreg market growth in the thermoset segment will be significant during the forecast period. By geography, 54% of the market's growth will originate from North America during the forecast period. An increase in the use of carbon composites in commercial aircraft will facilitate the carbon fiber prepreg market growth in North America over the forecast period.
The market is fragmented due to the presence of several players. Celanese Corp., Gurit Holding AG, Hexcel Corp., Kordsa Teknik Tekstil AS, Mitsubishi Chemical Holdings Corp., Nippon Graphite Fiber Corp., SGL Carbon SE, Solvay SA, Teijin Ltd., and Toray Industries Inc. are some of the major carbon fiber prepreg market vendors. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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