Prepreg Market by Type of Fiber Reinforcement (Carbon Fiber Prepreg, Glass Fiber Prepreg, and Others), Resin Type (Thermoset Prepreg and Thermoplastic Prepreg), Form (Tow Prepreg and Fabric Prepreg), Application (Aerospace & Defense, Wind Energy, Automotive, Sporting Goods, Electronics (PCB), and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026692 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 8.0 billion mark in 2022 and is expected to hit US$ 20.0 billion by 2030, recording a CAGR of approximately 12.5% during the forecast period.

Rising demand for aerospace & defense and wind energy industry is propelling the growth of the prepreg market

Increasing application in the production of wind turbines coupled with the rising adoption of renewable energy sources propelled the growth of the market. High demand from the aerospace and defense industry due to its strength and lightweight properties, which assists in manufacturing lightweight aircraft to decrease emissions and material usage, and increase fuel efficiency, is a key factor driving the prepreg market. An increase in demand for materials possessing low electrical conductivity, high durability, and low density across several industries, including the automotive and wind energy industry, growing use of prepreg by Boeing and Airbus escalates the market growth. Furthermore, reduction in prices of carbon fibers and advancement in software tools for the development of the product extends profitable opportunities to the prepreg market. The adoption has also gained momentum in the aerospace and defense sector. The rising commercial aircraft production and increasing defense spending have boosted market growth.

Within the report, the market is segmented into type of fiber reinforcement, resin type, form, application, and geography. By type of fiber reinforcement, the market is further segmented into carbon fiber prepreg, glass fiber prepreg, and others. Based on resin type, the market is divided into thermoset prepreg and thermoplastic prepreg. By form, the market is further segmented tow prepreg and fabric prepreg. Based on application, the market is divided into aerospace & defense, wind energy, automotive, sporting goods, electronics (PCB), and others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Growing demand for lightweight materials from the automotive industry

Prepreg is a reinforcing fabric that has been pre-impregnated with a resin system. This resin system, commonly epoxy, consists of a proper curing agent. Thus, it makes the product ready to lay into the mold with no addition of any more resin. They are extensively used in aerospace, racing, sporting goods and commercial products. For instance, prepreg fibers with superior strength and lightweight are vital for the aircraft manufacturing industry. Replacing conventional materials with lightweight composites is an effective path toward producing lightweight aircraft to reduce material usage, increase fuel efficiency, and decrease emissions. This translates into a growing adoption of prepreg materials.

The replacement of metals with composites in different end-use industries is one of the major factors accelerating market growth

Prepregs are increasingly being utilized in high-performance applications in the composites industry and other sectors. Prepregs find a broad range of applications in manufacturing complex structural compounds of wind turbines. Moreover, the use of prepreg has increased dramatically in aviation, automobile, and other industries. Further, due to various benefits such as control over resin composition, ease of handling, and great product quality, the hot-melt technique is frequently used in the fabrication of automobile parts and aviation structures.

Recent strategic developments in the prepreg market

The prepreg market has undergone several significant developments, and a few of these have been mentioned below:

  • In July 2022, Toray launched a flexible and highly Adaptive 2700 Prepreg System. 
  • In May 2022, Solvay launched SolvaLite 714 Prepregs, a fast curing prepreg for automotive applications.
  • In September 2020, PRF Composite Materials, a manufacturer and supplier of high-performance materials, launched a unidirectional glass prepreg.

The prepreg market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Solvay SA, Hexcel Corporation, Toray Industries, Inc., Mitsubishi Chemical Corporation, and Axiom Materials, Inc. are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Prepreg -related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End users of prepreg
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type of Fiber Reinforcement:
    • Carbon Fiber Prepreg
    • Glass Fiber Prepreg
    • Others
  • Resin Type:
    • Thermoset Prepreg
    • Thermoplastic Prepreg
  • Form:
    • Tow Prepreg
    • Fabric Prepreg
  • Application:
    • Aerospace & Defense
    • Wind Energy
    • Automotive
    • Sporting Goods
    • Electronics (PCB)
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Solvay SA  
    • Hexcel Corporation
    • Toray Industries, Inc.
    • Mitsubishi Chemical Corporation
    • Axiom Materials, Inc.       

The List of Companies
- Solvay SA
- Hexcel Corporation
- Toray Industries, Inc.
- Mitsubishi Chemical Corporation
- Axiom Materials, Inc.

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