Carbon Fiber Prepreg Market Size, Share, and Trends 2024 to 2033

Carbon Fiber Prepreg Market Size to Reach USD 20.20 Bn by 2033

The global carbon fiber prepreg market size was valued at USD 8.10 billion in 2023 and is anticipated to reach around USD 20.20 billion by 2033, growing at a CAGR of 9.57% from 2024 to 2033. The carbon fiber prepreg market is driven by increasing demand from the wind power sector.

Carbon Fiber Prepreg Market Key Takeaways

• Europe dominated the market with the largest market share of 36% in 2023.
• By resin type, the epoxy resin prepregs segment has contributed more than 48% of the market share in 2023.
• By process, the hot melt segment has held the major market share of 42% in 2023.
• By application, the aerospace and defense segment is expected to grow at a notable CAGR of 7.75% between 2024 and 2033.

Carbon Fiber Prepreg Market Size in Europe 2024 to 2033

The Europe carbon fiber prepreg market size surpassed USD 2.92 billion in 2023 and is expected to be worth around USD 7.37 billion by 2033 at a CAGR of 9.70% from 2024 to 2033.

Europe held the largest share of 36% in 2023 in the carbon fiber prepreg market. The rising number of construction activities in the region creates a sum of potential in the area for the market to expand. Because of its resistance to corrosion, exceptional strength, and longevity, carbon fiber prepreg is used in infrastructure projects and provides benefits, including longer lifespans and lower maintenance costs. The demand for carbon fiber prepreg as a building material is expected to increase if public and private entities spend on updating and upgrading infrastructure, propelling revenue growth in the area.

Europe is home to a thriving aerospace and defense sector, which represents a significant market for carbon fiber prepreg materials. Carbon fiber composites offer exceptional strength-to-weight ratio, durability, and corrosion resistance, making them ideal for aircraft components, missile structures, and defense applications. The region's continued investment in aerospace innovation and defense modernization drives the demand for high-performance carbon fiber prepreg materials.

Asia-Pacific is observed to be the fastest-growing carbon fiber prepreg market during the forecast period. Carbon fiber prepreg is becoming increasingly popular among a variety of end-use sectors because of its excellent mechanical qualities, low weight, and high strength-to-weight ratio. Lightweight materials are in high demand in the aircraft sector to improve fuel efficiency and lower pollution. They are also broadly used in the automobile industry to meet weight reduction goals and enhance vehicle efficiency.

Carbon Fiber Prepreg Market Size in Asia Pacific 2023 to 2033

The Asia-Pacific carbon fiber prepreg market size was calculated at USD 2.43 billion in 2023 and is projected to expand around USD 6.16 billion by 2033.

Carbon Fiber Prepreg Market Overview

An intermediary material known as carbon fiber prepreg is a sheet of carbon fiber soaked with matrix resin. Prepreg comes in various forms, including cloth prepreg, which is made of carbon fibers woven into a fabric and impregnated with matrix resin, and UD prepreg (unidirectional prepreg), which aligns carbon fibers in a single direction. The strength, rigidity, and resistance to chemicals and high temperatures of carbon fiber prepregs are well-known. These characteristics and the fact that carbon fiber is incredibly light make it advantageous for use in both military and commercial applications, such as aerospace components and aircraft interiors.

The French company Toray Carbon Fibers Europe S.A., a subsidiary of Toray Industries Inc., declared that its production facilities in Lacq and Abidos, in Southwest France, have received ISCC Plus certification. With this certification, Toray Carbon Fibers Europe can provide and manufacture carbon fiber by utilizing the mass balancing approach to allocate and use biomass or recycled materials.

Carbon Fiber Prepreg Market Data and Statistics

• Jilin Chemical has independently created a patented extensive tow carbonization line for 35K prepreg, a first for China. A single line can produce over 3,000 tons of product annually, and its mechanical strength index is now the highest in the industry, ranking T700.

Carbon Fiber Prepreg Market Growth Factors

• Defense and aerospace: lighter aircraft for better fuel economy.
• Automotive: reducing weight in cars to improve efficiency and fuel economy.
• Carbon fiber prepreg contributes to the development of lighter, fuel-efficient automobiles.
• Greater strength, rigidity, and resistance to temperature than conventional materials.
• Wind energy: more effective energy production with stronger, lighter turbine blades.

Carbon Fiber Prepreg Market Scope

Carbon Fiber Prepreg Market Dynamics

Driver: Increasing demand in aerospace and defense

Carbon fiber prepregs provide high customizability and design freedom, enabling engineers to modify material properties to application needs. Because different components in aerospace and military have substantially varying performance requirements, adaptability is very beneficial in these fields. To fulfill the exacting performance requirements of aerospace and defense applications, engineers can modify parameters like fiber orientation, resin formulation, and curing methods to produce the best strength, stiffness, and other mechanical features.

Restraint: Limited production capacity

Manufacturers with limited production capacity may have to pay more for prepreg materials. A lack of supply may result in higher prices and production costs for businesses that use prepreg in their manufacturing processes. Ultimately, consumers might pay more for these increased expenses, reducing the appeal of carbon fiber items. Thereby, limited production capacity acts as a major restraint for the carbon fiber prepreg market.

Opportunity: Reinforcement of concrete structures

Carbon fiber prepregs have less environmental impact than typical construction materials, so they can reinforce concrete while adhering to sustainability guidelines. When compared to the production of steel, CFRP composites are made with less energy and emissions due to sophisticated manufacturing techniques. Furthermore, the extended service life of CFRP-reinforced structures minimizes the carbon footprint of infrastructure projects by reducing the need for periodic repair and replacement.

Resin Type Insights

The epoxy resin prepregs segment dominated the carbon fiber prepreg market in 2023. Prepregs based on epoxy resins provide excellent mechanical qualities, such as stiffness, fatigue resistance, and a high strength-to-weight ratio. These characteristics make them perfect for structural integrity and longevity applications, like wind turbine blades, automobile parts, sporting goods, and aerospace components. Compared to other resin types, many epoxy resin systems cure at comparatively low temperatures, which is beneficial for maintaining the integrity of the carbon fibers during manufacture. Epoxy resin prepregs are more economical for large-scale manufacturing when curing temperatures are lowered since they require less energy and money for processing.

• In October 2023, SolvaLite 716 FR is a fast-curing epoxy prepreg system introduced by global specialty materials supplier Solvay. It is intended for use in premium battery electric cars (BEVs) for various structural parts and reinforcements.

The phenolic resin prepregs segment is anticipated to grow in the carbon fiber prepreg market during the forecast period. Superior mechanical qualities, such as a high strength-to-weight ratio, stiffness, and dimensional stability, are displayed by phenolic resin prepregs. These characteristics make them appropriate for high-pressure applications where structural integrity and performance are critical, like body panels for automobiles and aircraft and athletic goods like golf clubs and tennis rackets. Phenolic resin prepregs have certain environmental advantages as sustainability becomes more important when choosing materials. Recycled or bio-based resources can be used to create phenolic resins, which lessens the final product's carbon impact and need on fossil fuels.

Process Insights

The hot melt segment dominated the carbon fiber prepreg market in 2023. Unidirectional prepregs and fabric can both be produced using the hot melt technique. This technique consists of two steps. The hot resin is first applied in a thin layer to a paper substrate. The prepreg machine allows for the interaction of the resin and reinforcing material. The resin is injected into the fiber upon applying pressure and heat, producing the final prepreg that is twisted around a core.

The solvent dip segment is the fastest growing in the carbon fiber prepreg market during the forecast period. The solvent dip method, which entails dissolving the resin in a solvent bath and then immersing the reinforcing fabric in the resin solution, can only create fabric prepregs. Subsequently, the solvent is removed from the prepreg using a drying oven.

Application Insights

The aerospace and defense segment dominated the carbon fiber prepreg market in 2023. Materials with outstanding strength-to-weight ratios, high stiffness, and resistance to corrosion and fatigue are needed for aerospace and defense applications. Carbon fiber prepreg satisfies these criteria to an extraordinarily high degree. Due to its exceptional mechanical qualities, it is perfect for structural elements in missiles, defense systems, spacecraft, and airplanes. Customized solutions are frequently needed for aerospace and defense applications to satisfy certain design specifications and performance goals.

Carbon fiber prepreg is highly versatile concerning resin compositions, fiber orientations, and curing procedures, enabling producers to customize materials to match the requirements of individual applications precisely.

• In June 2023, two new aerospace material products from Hexcel have been released; they offer quicker cure cycles, allowing higher production build speeds.

The automotive segment is the fastest growing in the carbon fiber prepreg market during the forecast period. When compared to conventional materials like steel or aluminum, carbon fiber prepreg materials have better mechanical qualities. High-performance automobile parts can be designed and produced because of their improved stiffness, strength, and fatigue resistance. These characteristics help enhance the car's handling, dynamics, and general performance.

• In June 2023, The Formula 1 (F1) technology is the source of DNA for the advanced engineering company Dash-CAE, which unveiled the TR01, a new carbon fiber monocoque chassis. The chassis offers a cost-effective and adaptable solution for hypercar, supercar, and motorsport projects in the expanding performance automotive and motorsport sectors, significantly improving the price-to-performance ratio.

The wind energy segment shows a significant growth in the carbon fiber prepreg market during the forecast period. Renewable energy sources are growing more and more significant on a global scale, with wind power emerging as a significant contender. Governments and organizations worldwide make substantial investments in wind energy projects to cut carbon emissions and achieve sustainability goals. The demand for materials that can survive the rigors of wind turbine construction and operation is growing due to the spike in wind turbine installations.

• In April 2024, The MySE292 ultra-large offshore wind blades developed by MingYang Group are made entirely of carbon fiber, which Hengshen Co. Ltd exclusively provides. This company conducts research, development, and production of carbon fiber, woven, and NCF fabrics, resin, prepreg, and other composite materials.

Carbon Fiber Prepreg Market Recent Developments

• In October 2023, The Mitsubishi Chemical Group (MCG Group) declared that it had acquired complete control of CPC SRL (CPC). This well-known Italian business specializes in producing and distributing carbon fiber reinforced plastic (CFRP) car parts.
• In July 2023, with great pleasure, Toray Composite Materials America, Inc. announced a significant expansion of its carbon fiber facility located in Spartanburg, South Carolina. This capacity-building capital investment will be needed to meet the rising demand for renewable energy solutions. Beginning in 2025, the 30,000-square-foot facility expansion will boost Toray's capacity to produce carbon fiber by 3,000 metric tons annually.

Carbon Fiber Prepreg Market Companies

• Hexcel Corporation
• Teijin Limited
• Victrex plc
• AOC Aliancys AG
• Barrday Corporation
• Park Aerospace Corp
• Gurit Holding AG
• Toray Industries, Inc.
• SGL Carbon SE
• Axiom Materials Inc.

Segments Covered in the Report

By Resin Type

• Epoxy Resin Prepregs
• Phenolic Resin Prepregs
• Other Resin Types

By Process

• Hot Melt
• Solvent Dip
• Others

By Application

• Aerospace and Defense
• Automotive
• Sports and Leisure
• Wind Energy
• Marine
• Industrial

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa