Reports and Data estimates the global Tow Prepreg competitive landscape is highly fragmented with numerous players operating on a global and regional scale. The key companies in the market are engaged in mergers and acquisitions, joint ventures, collaborations, and product launches to gain a robust revenue growth over the forecast period. The report considers 2020-2021 as historic years, 2020 as the base year, and 2022-2028 as the forecast period. The report offers CAGR and market size for the global Tow Prepreg during the forecast period.
The report also offers key insights about the top companies operating in the market and their market share and global position along with product portfolio and advancements. The top companies in the market include TCR Composities, Toyobo Co. Ltd., Toray Industries, Axiom Materials, Inc., Park Aerospace Corp., Hexcel Corporation, Mitsubishi Chemical Holdings Corporation, Vitech Composites, and JXTG Holdings, Inc.
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Fiber Type Outlook:
Among the fiber type segments, the carbon fiber segment accounted for the largest revenue share of 85.2% in the global tow prepreg market in 2020. This is due to its significant applications in the aerospace and defense, automotive and transportation, and sports industries. Carbon fiber is highly preferred over other fibers because it offers high tensile strength and can be extensively used in weaving, filament winding, braiding, and other processes. It also offers long-term resistance to fatigue and extreme and unfavorable surrounding environment. Other remarkable properties include stiffness, high chemical resistance, low weight, and low thermal expansion. Moreover, rising concerns about fuel consumption and CO2 emissions have led to rapid adoption of carbon fibers as an alternative option, which is expected to drive demand for carbon fibers, thereby driving revenue growth of this segment.
End-Use Industry Outlook:
Among the end-use industry segments, the aerospace and defense segment accounted for the largest revenue share in the global tow prepreg market in 2020, and is expected to continue contributing major revenue share over the forecast period. This is due to lightweight and high tensile strength properties of tow prepreg which makes it apt option for manufacturing of lightweight aircraft parts.
The automotive and transportation segment is expected to register the highest revenue growth rate during the forecast period owing to wide range of product application such as manufacturing of transportation materials including CNG cylinders, transmission axle, and other important automotive components. In addition, rising concerns about carbon dioxide emissions and other environmental concerns is leading to increasing demand for manufacturing fuel-efficient vehicles. This is expected to drive consumption of lightweight tow prepreg material in the automotive and transportation industry, thereby, driving revenue growth of this segment.
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For the purpose of this report Reports and Data has segmented global Tow Prepreg market on the basis of type, application, and region:
By Fiber Type Outlook
- Carbon Fiber
- Glass Fiber
- Aramid Fiber
By End-Use Industry Outlook
- Aerospace & Defense
- Automotive
- Marine
- Industrial
- Infrastructure
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
- What is the expected year-on-year growth of the Tow Prepreg during the forecast period?
- What key trends are expected influence revenue growth of the market going ahead?
- Which region is expected to account for largest revenue share over the forecast period?
- Which key companies are profiled in the report?
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