The Carbon Fiber Prepreg Market report defines and segments the concerned market with analysis and forecast of revenue. This market is estimated to cross $4,640.2 million mark by 2019, at a CAGR of 11.9% during the forecast period.
Browse through the TOC of Carbon Fiber Prepreg Market for an analysis of industry trends, segments & forecasts.
North America holds the largest share of the global carbon fiber prepreg market. The growing aerospace industry and the user-friendly and environment-friendly characteristics of the composite are the main factors driving the growth of this market.
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Damage identification is difficult in case of prepreg. If a part is damaged, it is not easy to get it repaired; moreover, the high cost of prepreg material is among the key hindrances to the market growth. The cost of prepreg is relatively higher than its competitors, such as aluminum; hence, it is difficult to replace aluminum parts in aircraft applications.
The aerospace & defense is the leading application segment of the global carbon fiber prepreg market. The segment accounted for $1,844.0 million in 2014 and is estimated to reach $3,237.7 million, at a CAGR of 11.9% during the forecast period, 2014 to 2019. In terms of volume, this segment is estimated to grow at a CAGR of 11.5% during the given forecast period. The sporting goods application of the global carbon fiber prepreg market is projected to grow at a CAGR of 9.1% from 2014 to 2019.
The major participants that operate in the global carbon fiber prepreg market include Hexcel Corporation (U.S.), Cytec Industries (U.S.), Gurit Holdings AG (Switzerland), SGL Group (Germany), Toray Industries (Japan), Axiom Materials, Inc. (U.S.), and Teijin Limited (Japan), among others. The key players of the market are mainly focusing on acquisitions and expansions for their growth in the global market. For instance, the acquisition of Umeco plc by Cytec Industries helped Cytec to strengthen its position as a leading manufacturer of composite materials, while offering significant opportunities for growth and value creation, particularly in industrial composites and process materials.
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