Prepreg Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Prepreg Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Prepreg has been gaining immense popularity as one of the key building blocks of the ever-expanding composites landscape. Increasing practices of impregnating composite fibers with specialty resins remains a key sales influencer of prepreg. Prepreg plays a crucial role in ensuring uniform distribution of resins and fibers throughout a composite framework, validating growth of the global market through 2028.
Increasing applications of structural composites in applications of everyday life is providing a fillip to sales of prepreg. Beginning extensively used across aerospace applications, demand for prepreg is also increasing in industrial ecosystems, automotive industry, traditional defense, sporting goods, and many other areas. Trends demonstrating augmented adoption of composites is foreseen to complement the sales of prepreg.
Prepreg Market- Notable Highlights
- In 2017, Hexcel Corporation announced the launch of MAXIM, a new research and development project of £7.4 million. Multi Axial Infused Materials (MAXIM) is aimed at expansion of its manufacturing facilities in Leicester, a city and unitary authority area in the East Midlands of England. The four-year project, supported and backed by the UK Aerospace Technology Institute as well as match-funded by the Business Energy and Industrial Strategy Department, will be focused on development of progressive and reasonable materials for use in large automotive and aerospace composite structures.
- In 2018, Axiom Materials Inc. announced an exclusive cooperative program with the Wichita State University’s National Institute of Aviation Research (NIAR). This program is aimed at developing test techniques and data on the company’s ‘Oxide-Oxide ceramic matrix composite (CMC)’ prepreg. This will enable Axiom to deliver credible products with top-notch functionalities, serving the end-user requirements for effective and advanced products.
- In 2018, Park Electrochemical Corp. (NYSE-PKE) announced launch of ‘RadarWave’, a new and innovative family of prepreg materials for use in manufacture of advanced radome systems, notably for defense and aerospace applications. RadarWave materials are extremely cost effective as compared to the traditional variants, backed by enhanced functionalities.
Some of the most prominent competitors operating in the competitive landscape of global prepreg market include –
- Axiom Materials Inc.
- Gurit Holding
- Huntsman Corporation
- Composite Resources Inc.
- Cytec Industries Inc.
- Mitsubishi Chemical Carbon Fiber and Composites, Inc.
- Hexcel Corporation, Lingol Corporation
- Holding Company Composite
- Isola Group Ltd.
- Park Electrochemical Corp
- Lewcott Corporation
- NACCO Aerospace
Prepreg Market Dynamics
Surging Demand for Lightweight & Durable Materials in Aerospace Component Manufacturing Creates Opportunities
The demand for prepreg is taking off significantly, across developing as well as developed regions. This demand can be attributed to rapid transition toward lightweight and durable materials for manufacturing aerospace components. In addition, rising production of light-weight blades for wind turbines has led to increased adoption of prepreg.
The demand for prepreg is likely to benefit from growth of other industries, such as wind turbine and automotive, who are actively seeking high-performance prepreg solutions.
Asia Pacific Continues to Spearhead Demand for Prepreg
Asia-Pacific retains its lucrativeness in the prepreg market, notably in chief areas such as China & India. Exponential growth of wind energy industry and burgeoning investments in aerospace & defense remain the key pacesetters of growth of prepreg market in the Asia Pacific region. China remains at the forefront in terms of demand for prepreg in Asia-Pacific, followed by India. The consumption statistics of prepreg in the aforementioned regions have grown substantially, owing to unprecedented growth of multiple industries, ranging from wind energy to aerospace & defense.
Prepreg to Find Extensive Applications in Aerospace and Defense
Use of prepreg for manufacturing various aerospace parts, such as passenger & cargo floor panels, lavatories, air ducts, ceiling panels, overhead compartments, and many more, on account of their lightweight attribute. This, in turn, provides credibility to increased use of prepreg in the Aerospace & Defense sector.
Prepreg is extensively employed in manufacturing of numerous components of wind turbines, owing to robust strength and high fatigue resistance. Burgeoning use of prepreg in case of wind turbines is expected to create sustained opportunities for manufacturers over the next few years.
Prepreg Market Segmentation
By Fiber Type
- Carbon
- Glass
- Aramid
By Resin Type
- Thermoset
- Thermoplastic
By Manufacturing Process
- Hot-melt
- Solvent dip
By Application
- Aerospace & defense
- Wind energy
- Sporting goods
- Automotive
- Others
This study provides a particularized anatomy according to the L.E.A.P mechanism
- Latest trends and cardinal growth prospects
- Existing and future insights in growth
- Ascensions in technology
- Pain points
The regional analysis offers market assays across:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
Pain Points
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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