New York, United States , Nov. 29, 2023 (GLOBE NEWSWIRE) — The Global Carbon Fiber Prepreg Market Size to grow from USD 8.1 Billion in 2022 to USD 17.5 Billion by 2032, at a Compound Annual Growth Rate CAGR of 11.2% during the forecast period.Global supply chains were hampered by the pandemic, which had an effect on the availability of the components and raw materials required to produce carbon fibre prepregs. There was a potential that travel restrictions, lockdowns, and plant closures in various parts of the world would have caused production and delivery to be delayed. Industries like aerospace, automotive, and sporting goods witnessed a fall in demand for their products throughout the outbreak as a result of economic instability and lockdown measures. This drop in demand may have had a cascading effect on the demand for carbon fibre prepreg materials. Numerous manufacturing and construction projects were halted or delayed as a result of the outbreak. This would have had an impact on the orders for carbon fibre prepregs utilised in these projects.On the basis of resin type, the global carbon fiber prepreg market is segmented into Epoxy, Phenolic, Thermoplastic, Bismaleimide (BMI), Polyimide, and Others. Among these, epoxy resin type segment is dominating the market over the forecast period. Epoxy resin is the preferred material because of its exceptional mechanical properties, including high strength, stiffness, and fatigue resistance. Composite materials with good overall performance are made using carbon fibre reinforced epoxy-based carbon fibre prepregs. Epoxy-based carbon fibre prepregs frequently go through a curing process in order to solidify the resin and obtain the correct mechanical characteristics. The proper consolidation of the composite depends on this process, which employs pressure and heat.Based on the end use, the global carbon fiber prepreg market is segmented into Aerospace & Defense, Wind Energy Sports & Recreation, Automotive, and Others. Among these, aerospace and defence segment holds the highest market share over the forecast period. The aerospace industry places a strong priority on weight reduction for aircraft in order to improve fuel efficiency and overall performance. Because of their high strength-to-weight ratio, carbon fibre prepregs are ideal for creating lightweight components that reduce fuel consumption. Advanced production techniques like automated layup and resin infusion are being used to effectively construct complex aircraft components with reliable quality. As the number of unmanned aerial vehicles (UAVs) and drones for military and surveillance reasons has expanded, there is a growing need for lightweight materials that can support payload, endurance, and mission requirements.This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Carbon Fiber Prepreg Market based on the below-mentioned segments:
(GlobeNewsWire)