Increasing demand from emerging economies as well as increasing industrialisation and manufacturing will boost the growth of the global carbon fibre prepreg market during the forecast period.
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Global Carbon Fibre Prepreg market: Drivers and Restraints
The carbon fibre prepreg market is heavily reliant on aerospace & defence, automotive and wind industry. Carbon fibre prepregs are lightweight and easy to fabricate and hence, used by major aerospace companies to manufacture combat, commercial and cargo transport aircrafts. Demand for carbon fibre prepregs from the automotive industry is increasing owing to robust demand from emerging countries. The global carbon fibre prepreg market is projected to grow at a high growth rate amidst its growing demand for industrial, commercial and residential activities.
Growth in the renewable energy market, particularly wind energy, is another factor driving the demand for carbon fibre prepregs. Frequent power cuts, blackouts, voltage fluctuation and load shedding have led to increased demand for wind power in residential buildings and this in turn, is likely to fuel the growth of the carbon fibre prepreg market. Supportive government policies in the form of tax benefits and subsidies can further add to the growth of the wind energy market. The highly volatile fossil fuel prices are likely to encourage more investments in the renewable energy sector and hence, create more opportunities for the wind energy. This, in turn, will benefit the carbon fibre prepreg market in the long run.
High manufacturing and processing cost is seen as a major restraint for the carbon fibre prepreg market. Recycling of carbon fibre prepregs is expensive and this can prove to be another factor responsible for hampering the growth of this market. Providing a good product at reasonable prices could be a major challenge for carbon fibre prepreg manufacturers. Development of advanced software tools for product development can provide good opportunities for manufacturers.
Global Carbon Fibre Prepreg market: Region Wise Outlook
As of 2016, owing to rapid industrialisation and aggressive expansion of the manufacturing sector, APEJ is expected to be the fastest growing Carbon Fibre Prepreg market. There is high demand for Carbon Fibre Prepreg from countries such as China, Japan, India, Singapore and South Korea. North America is anticipated to dominate the Carbon Fibre Prepreg market during the forecast period. This high growth is attributed to the growing demand from aerospace & defence and automotive industries.
Europe is the other prominent market in terms of rising demand for Carbon Fibre Prepreg. The steady growth in German automobile industry is the major driving factor in this region. Middle East, Latin America and Africa are expected to expand at a relatively lower CAGR over the forecast period.
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Global Carbon Fibre Prepreg market: Market Participants
Examples of some of the market participants in the global Carbon Fibre Prepreg market identified across the value chain include:
- HC Composite
- Royal Tencate N.V.
- Cytec Solvay Group
- Hexcel Corporation
- Gurit Holding AG
- Kineco Pvt Ltd
- Unicarbon
- Zyvex Technologies
- Mitsubishi Rayon Co. Ltd.
- TCR Composites
- PRF Composite Materials
- Toray Industries Inc.
- Teijin Limited
- Park Electrochemical Corporation
- Axiom Materials
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Siz
- Supply & Demand
- Current Trends and Issues and Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest Of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia, Rest Of Eastern Europe)
- Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC countries, S. Africa, N. Africa, Rest Of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.