May 03, 2021
According to the research report titled ‘GLOBAL Prepreg Market 2019-2027’, available with Market Study Report LLC, global prepreg market is speculated to record a y-o-y growth rate of 10.05% between 2019-2027.
Ease of handling and lightweight nature associated with the product, surging demand from aerospace and sports verticals, rapidly expanding wind energy sector and efforts by automotive manufacturers towards decreasing carbon emissions are key factors driving growth of global prepreg market.
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For the uninitiated, a prepreg is a composite material which is usually soaked in resins before use. It has special properties and can be manufactured only at high temperature and pressure. Thus, rising demand of carbon fiber prepreg, considerable improvements in manufacturing processes and strategic collaborations among key players are likely to boost market proliferation.
On the downside, low shelf-life of product compared to traditional resin fiber coupled with high costs of manufacturing may potentially hinder global prepreg market growth. Furthermore, technical problems and difficulties faced during maintenance, repair and other overhaul requirements are also stated to act as a challenge.
Based on resin type, global prepreg industry is bifurcated into thermoset and thermoplastic. Speaking of manufacturing process, the market space is divided into hot melt and solvent dip.
In terms of fiber type, the worldwide prepreg industry is segregated into glass fiber, carbon fiber and aramid fiber. Moving on to end-user spectrum, the market is segmented into wind energy, automotive, sporting goods, aerospace & defense and PCB among others.
Geographically, North America held majority of the global prepreg industry share in 2019, primarily due to high presence of top manufacturers and substantial economic developments. Additionally, surging demand of prepreg materials in the aerospace sector will also proliferate the regional market outlook.
Meanwhile, Asia Pacific is projected to record the highest annual growth rate between 2019-2027.
Key players profiled in the report are Hexcel Corporation, Gurit Holding AG, Zyvex Labs LLC, Toray Industries Inc., Renegade Materials Corp., Cytec Industries Incorporated, Celanese Corporation, Teijin Limited, Axiom Materials Inc., SGL Carbon SE, Park Aerospace Corp., UNICARBON, Ventec Group LLC, Royal Ten Cate N.V. and Mitsubishi Rayon Co. Ltd.