The global prepreg market size reached USD 6.94 Billion in 2021 and is expected to register a revenue CAGR of 10.7% during the forecast period. A substantial portion of the market revenue growth is being driven by increased demand for prepreg from a variety of end-use sectors, including aerospace & defence and the automotive sector.
Due to their low weight and high strength, composite materials like carbon fibre have supplanted metal in the construction of vehicles and aircraft. Additionally, the demand for manufacturing parts for aircraft interiors, engine blades and rotors, propellers, fin blades, seats, and tail planes (also known as a horizontal stabiliser) is greatly increased by the flexibility of casting or moulding into any shape. Another important element influencing the demand for prepreg and anticipated to promote future revenue growth of the market is lighter components’ reduced operational expenses.
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Both commercial and military aeroplanes are produced using resin kinds include phenolic, fibre, and epoxy. In the military industry, prepreg is frequently utilised in the production of reinforcement fibre for ballistic purposes. The automobile sector is seeing a sharp rise in demand for superior cosmetic grade prepreg with high-quality lamination because to the properties of prepreg, such as its lightness, strength, and capacity to be moulded into complex shapes. Prepreg is also used in the manufacturing of pressure vessels, racing equipment, pressure vessels, commercial products, and interior parts for vehicles.
Emergen Research has published a novel research report titled, “Global Prepreg Market Forecast to 2028”. The report sheds light on the current as well as upcoming market trends. The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Prepreg market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
Some major companies in the market report include Hexcel Corporation, Toray Industries, Inc., Park Aerospace Corp., Teijin Limited, Mitsubishi Chemical Carbon Fiber and Composites, Inc., SGL Carbon, Gurit, Rock West Composites, Inc., Plastic Reinforcement Fabrics Ltd., and ACP Composites, Inc.
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Some Key Highlights From the Report
Thermoset segment accounted for a comparatively larger revenue share in 2021. Thermoset is widely preferred as it is easy to work with at room temperature and fibers easily permeate before curing. As a result, traction has been increasing and this is one of the primary factors that is boosting revenue growth of the thermoset segment. Thermoset resins provide improved overall strength, thermal stability, moisture resistance, targeted reinforcement, in addition to chemical resilience, which enables use of the materials in various applications in different end-use industries.
Hot-melt segment is expected to register a steady revenue growth rate over the forecast period. Hot-melt process enables environmental-friendly production owing to no requirement of organic solvents for solvent coating and drying. In addition, stringent norms and regulations have resulted in increased and rapid adoption of the hot-melt process for industrial purposes, and this is expected to continue to drive revenue growth of this segment.
Carbon fiber segment revenue is expected to increase at a significant rate over the forecast period. Carbon fiber is a cost effective, light weight, and strong material with robust potential for a range and variety of applications, especially in aircraft, and motorsport. Properties to enhance structural integrity with reduced wastage of resources is expected to boost demand over the forecast period.
In 2021 wind energy segment is expected to register a significantly steady revenue growth rate over the forecast period. Rising focus on environmental sustainability and concerns regarding depletion of fossil fuel resources are increasing the need for exploration of more eco-friendly alternatives, which is driving revenue growth of the wind energy segment.
Emergen Research has segmented the global Prepreg market on the basis of resin, manufacturing process, fiber, end-use, and region:
Resin Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
Thermoset
Thermoplastic
Manufacturing Process Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
Hot-melt
Solvent dip
Fiber Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
Glass
Carbon
Aramid
Others
End-Use Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
Aerospace & defense
Automotive
Wind energy
Sporting goods
Others
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Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Benefits of Buying the Global Prepreg Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Prepreg Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Prepreg Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Prepreg Market
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