Prepreg Market Current Scenario with Future Aspect Analysis
Apr 19, 2024
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The Global Prepreg Market Size is valued at 9.55 billion in 2023 and is predicted to reach 25.67 billion by the year 2031 at a 13.36% CAGR during the forecast period for 2024-2031.
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global prepreg market are:
- Acceleration of the Market for CFR
- Extremely High Carbon Fiber Prepreg
- Growing Aerospace Industry
The following are the primary obstacles to the prepreg market 's expansion:
- Expensive Cost
- Travel Limitations
- Issues With Technology
Future expansion opportunities for the global prepreg market include:
- Rising interest in wind power
- Expansion in the automotive industry
- An increasing need for prepreg in the aviation sector
Market Analysis:
Due to the growing use of prepreg materials in the automotive and aerospace industries, the market is anticipated to rise rapidly. In recent years, the prepreg industry has been propelled by the increasing demand for lightweight, durable materials with enhanced efficiency in the fabrication of aircraft components.
List of Prominent Players in the Prepreg Market:
- Solvay Group
- Hexcel Corporation
- Toray Industries, Inc.
- Teijin Limited
- Mitsubishi Chemical Holdings Corporation
- SGL Group
- Axiom Materials
- Gurit Holding AG
- Park Aerospace Corp.
- Plastic Reinforcement Fabrics Ltd
Recent Developments:
- In January 2024, Gurit, a frontrunner in sustainability rating on a worldwide scale, was presented with a distinguished gold medal by EcoVadis in recognition of its exceptional performance in this domain. Gurit is now ranked in the top five percent globally, according to EcoVadis.
- In January 2024, Toray Industries, Inc., TAGCyx Biotechnologies, Inc., and the University of Tokyo will collaborate to investigate how well blood purification therapy treats preeclampsia.
- In November 2023, Solvay, a world-renowned provider of specialized materials, introduced SolvaLite 716 FR, a state-of-the-art fast-curing epoxy prepreg solution specifically engineered for various structural components and reinforcements in high-end BEVs.
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Prepreg Market Dynamics:
Market Drivers: Growing Aerospace Industry
Growing demand in the aerospace industry is a major factor propelling the prepreg market. The growing need for more fuel-efficient planes and the associated surge in air traffic has created an urgent need for lightweight materials with strong environmental resistance. Because of its exceptional mechanical properties and high strength-to-weight ratio, prepregs are ideal for use in aerospace. Wings, fuselages, and empennages are just a few airplane pieces these worker’s shape. Prepreg technology is booming, and the market is expanding because of rising demand in the aerospace industry.
Challenges: Cost Implication
The processing and manufacturing costs and the difficulties linked to the product's recyclability will slow the market's growth. Another factor that will slow the prepreg market's expansion is the creation of inexpensive technology. Raw materials required to make prepreg, including aramid, carbon, and glass fibers, have high manufacturing costs, which drives up the price of the finished product. There will likely be a halt to market expansion due to rising raw material prices.
North America is Expected to Grow with the Highest CAGR During the Forecast Period
The North America Prepreg Market is likely to register a significant revenue share and develop at a rapid CAGR in the near future. This is because there has been a significant increase in R&D efforts. An ever-increasing need for next-gen aircraft in this area is driving up prepreg demand. The aerospace sector in North America is the driving force behind this rise. More and more people are learning about the benefits of wind energy, which is good news for the wind sector industry.
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Segmentation of Prepreg Market-
By Product-
- Carbon Fiber Prepreg
- Glass Fiber Prepreg
- Others
By Resin Type -
- Thermoset Prepreg
- Epoxy
- Polyester
- Others
- Thermoplastic Prepreg
- Peek
- Others
By Form-
- Tow Prepreg
- Fabric Prepreg
By Manufacturing Process-
- Hot-Melt Process
- Solvent Dip Process
By Application-
- Aerospace & Defense
- Wind Energy
- Sporting Goods
- Electronics (PCB)
- Others
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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