The Global Prepreg Market is Expected to be Valued at $12.6 Billion in 2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Prepreg Market by Type of Reinforcement (Carbon Fiber Prepreg, Glass Fiber Prepreg), Resin Type (Thermoset Prepreg, Thermoplastic Prepreg), Form, Manufacturing Process (Hot-melt, Solvent Dip), Application, and Region – Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.

The global prepreg market size is estimated at USD 7.0 billion in 2021 and is projected to reach USD 12.6 billion by 2026, at a CAGR of 12.5%. Prepreg is being used in the aerospace & defense, wind energy, automotive, sporting goods, electronics, and other end-use industries. The increasing wind energy projects and demand for lightweight material from the automotive industry support the demand for prepreg in the wind energy and automotive end-use industry.

Carbon Fiber Reinforcement Type is the fastest-growing Fiber Reinforcement Type of prepregs, in terms of value.

The carbon fiber prepregs find wide applications in various end-use industries. Carbon fiber prepregs are used in automotive, sporting goods, and leisure items such as vehicles (motorcycle) rim and integral spokes structural components. The use of carbon fiber prepregs in these applications provides 40-50% weight reduction over their conventional aluminum counterparts.

Thermoplastic Prepreg is the fastest-growing resin type of prepreg, in terms of value.

The prepreg products are mainly used in industries such as aerospace & defense, automotive and sporting goods. In the aerospace & defense sector, due to their recyclability, good shelf life, lightweight, tough, and high stiffness, thermoplastic prepregs are used to make a variety of structural components. The increasing demand for prepregs from aerospace & defense, wind energy, and automotive applications is expected to drive the market during the forecast period.

Tow Prepreg is the fastest-growing Form of prepreg, in terms of value.

The tow prepreg form of the prepreg is fastest-growing form in prepreg market. Towpregs are typically used in the filament winding process to construct high-strength structures in aerospace & defense, automotive, and other industries. The use of the filament winding process results in higher productivity for manufacturers. These materials are used in automotive, aerospace, oil & gas, sports & recreation, and other industries.

Hot-Melt Process is the fastest-growing manufacturing process of prepreg, in terms of value.

Due to the eco-friendly nature and less complex machinery, the hot-melt process is preferred over the solvent dip process. Environmentally, this process is less hazardous as small or no organic solvents are consumed or emitted during operations.

Wind Energy is the fastest-growing application of prepreg, in terms of value.

In wind energy application, the critical component of wind turbines uses composites and prepregs for bigger size turbines. Growing environmental concerns in Asia Pacific countries such as China and India are expected to boost the demand for wind energy during the forecast period.

APAC is the fastest-growing prepreg market.

APAC is the largest prepreg market in terms of volume and is expected to maintain its lead during the forecast period. The remarkable growth of the wind energy industry has driven the expansion of the market in the region. China is leading the Asia Pacific prepreg market in the wind energy industry, with 71.7 GW new wind capacity installed in 2020. Favorable government policies, to protect the economies from volatile fossil fuel prices and take steps against harmful GHGs emissions, are expected to drive the wind energy industry in Asia Pacific, stimulating the demand for prepreg in the region. North America is the second major consumer of prepregs aerospace & defense, and wind energy are the major industries fueling the growth of the prepreg market in this region.

Market Dynamics

Drivers

• Increasing Demand for Lightweight Materials from Automotive Industry
• Increasing Use of Prepreg by Boeing and Airbus
• Growing Demand for Prepreg in Wind Energy Industry

Restraints

• Issues Related to Recyclability
• High Processing and Manufacturing Cost
• Declining Economy due to COVID-19

Opportunities

• Reduction in Cost of Carbon Fibers
• Development of Advanced Software Tools for Prepreg Product Development

Challenges

• High R&D Cost
• Market Recovery from COVID-19

Companies Mentioned

• APCM LLC
• Arris Composites
• Axiom Materials
• Basf SE
• E. I. Dupont Nemours & Co.
• GMS Composites
• Gurit Holding Ag
• Henkel AG & Co. KGaA
• Hexcel Corporation
• Kineco Kaman
• Mallinda Inc.
• Mitsubishi Corporation
• Park Aerospace Corp.
• Plastic Reinforcement Fabrics Ltd.
• Reliance Composites
• Renegade Materials Corporation
• SGL Group
• Shd Composite Materials Ltd.
• Solvay Group (Cytec Industries, Inc.)
• St Advanced Composites
• TCR Composites
• Teijin Limited
• Toray Industries, Inc.
• Victrex
• Zoltek

   

   

For more information about this report visit https://www.researchandmarkets.com/r/ajfx5u

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