Carbon Fiber Prepreg Market – Increasing Wind Power Capacities to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#CarbonFiberPrepreg–The global
carbon fiber prepreg market is expected to grow at a CAGR of close
to 11% during the period 2017-2021, according to a new market research
study by Technavio.

The report categorizes the global carbon fiber prepreg market by
application (aerospace and defense, wind energy, sports equipment, and
automotive parts) and by type (thermoset and thermoplastics). The report
also determines the geographic breakdown of the market in terms of
detailed analysis and impact, which includes key geographies such as
APAC, the Americas, and EMEA.

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Market driver: growth of wind power capacities

Wind energy is a low-cost renewable source of energy for the generation
of electricity. The developed regions such as North America and Western
Europe have accounted for the highest investments in the total wind
power installations across the globe. Carbon fiber composites have
high-potential applications in the wind energy sector, with turbine
blades being the fastest-growing segment. There is an extensive use of
thermoset prepregs in the manufacture of wind turbines due to its
properties such as high strength-to-weight ratio and durability.

According to Kshama Upadhyay, a lead analyst at Technavio for textile,
fiber, and composites research, “A growing number of vendors in
the market are focusing on the R&D of technologically advanced products
for such applications. Low-cost carbon
fiber prepregs for wind energy applications are expected to
allow the manufacturers of wind turbine blades to manufacture wind
turbine blades with benefits such as strength and lightweight. This will
enable the manufacturers to make the blade longer, which will assist in
creating more energy as compared with shorter blades.”

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Market trend: increasing demand for lightweight and high-performance
materials

The demand for lightweight and high-performance materials from various
end-user industries has increased as these are used in various
industrial applications for their properties such as energy saving and
wear resistance. These materials are extensively used in the aerospace
and defense and automotive industries. Among various types of
high-performance materials, carbon composites are the most preferred
composites. This is because of their properties such as high strength to
weight ratio, high-temperature resistance, thermal shock resistance,
non-conductive nature, and increased fuel efficiency. The demand for
carbon composites is expected to grow with the growth in R&D activities.
This is expected to foster the use of carbon composites in several new
application areas.

Market challenge: high cost related to carbon composites

The manufacturing and processing of carbon fiber composites involves
high R&D cost. In addition, the testing of carbon fiber composites for
applications such as aerospace and defense is time-consuming, expensive,
and have long cycle process. The cost of carbon fiber composites is
eight times higher than steel, which restricts market growth. An
increase in the cost of raw materials such as resins and carbon fibers
can lead to high procurement costs for vendors.

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Key vendors in the market

• Cytec Solvay Group
• Gurit
• Hexcel
• TEIJIN
• TORAY INDUSTRIES

The global carbon
fiber prepreg market is one of the fastest growing markets. It
consists of both international and local vendors present across the
globe. The market is dominated by global vendors who compete based on
factors such as the cost of production, innovation in products, access
to raw material, price, R&D cost, operational cost, and product quality.
The competitive environment is expected to intensify over the next five
years.

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carbon fiber prepreg market report free of cost

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