Epoxy Segment to Dominate Europe Tow Prepregs Market during 2020-2028

According to a new market research study on “Europe Tow Prepregs Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Fiber Type, Resin Type, End-Use Industry and Country,” is expected to reach US$ 472.59 million by 2028 from US$ 192.83 million in 2020. The market is estimated to grow at a CAGR of 11.9% from 2020 to 2028. The report provides trends prevailing in the Europe tow prepregs market along with the drivers and restraints pertaining to the market growth. Development of the automotive and transportation industry and an upsurge in demand for lightweight and cost-efficient materials are the major factors driving the growth of the Europe tow prepregs market. However, the high cost of carbon fiber and raw materials may hinder the growth of Europe tow prepregs market.

In case of COVID-19, Europe, especially France, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of tow prepregs manufacturing activities. Downfall in other chemical and materials manufacturing sector has subsequently impacted the demand for tow prepregs during the early months of 2020. Moreover, decline in the overall fabric and resin manufacturing activities has led to the discontinuation of tow prepregs manufacturing projects, thereby reducing the demand for tow prepregs. Similar trend was witnessed in other European countries such as Russia, the UK, Italy, Germany, and Spain. However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of 2021.

The market for Europe tow prepregs is segmented into fiber type, resin type, end-use industry, and country. Based on fiber type, the market is segmented into carbon, glass, and others. In 2019, the carbon segment held the largest share in Europe tow prepregs market. Based on resin type, the Europe tow prepregs is bifurcated into epoxy, phenolic, and others. The phenolic segment is expected to be the fastest growing segment over the forecast period. Based on end-use industry, the Europe tow prepregs is broken into aerospace and defense, automotive and transportation, sports and recreational, oil and gas, and others. In 2019, the aerospace and defense segment held the largest share in Europe tow prepregs market. Furthermore, in this present scenario of COVID 19 pandemic, the Europe tow prepregs market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the European countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for tow prepregs.

Eneos Corporation; Hexcel Corporation; Mitsubishi Chemical Corporation; Porcher Industries; Red Composites Ltd; SGL Carbon; TCR Composites, Inc.; Teijin Limited; and Toray Industries, Inc. are some of the leading companies in the Europe tow prepregs market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The report segments the Europe Tow Prepregs market as follows:

• Carbon
• Glass
• Others

• Epoxy
• Phenolic
• Others

• Aerospace and Defense
• Automotive and Transportation
• Sports and Recreational
• Oil and Gas
• Others

• Germany
• France
• Italy
• UK
• Rest of Europe