Detroit, Nov. 22, 2024 (GLOBE NEWSWIRE) -- The global space prepreg market is projected to witness a growth rate of 4.2% annually from 2024 to 2032, with an anticipated size of US$ 320 million by 2032, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global space prepreg market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
| Market Size in 2032 (million US$) | 320 |
| Growth (CAGR) | 4.2% during 2024-2032 |
| Forecast Period | 2024-2032 |
| Trend Period | 2018-2022 |
| Base Year | 2023 |
| Number of Segments Covered | 5 |
| Number of Tables & Graphs | 100+ |
| Country-Level Market Assessment | 20 |
Segment Insights on the Space Prepreg Market:
The global space prepreg market is segmented based on part type, resin type, application type, fiber type, and region.
Based on part type - The market is segmented into precision structures, reflectors & antennae, solar array panels, heat shields, propellant tanks, instrumentation and payloads, and thermal protection systems. Precision structures are expected to remain dominant in payload applications and the propellent tank is expected to dominate launch vehicle applications. Precision structures include parts such as satellite bus structures, and optical systems, which are necessary for satellite missions like telecommunications, earth observation, and scientific investigations. They must be highly accurate and reliable to ensure that they operate according to their specified applications in space. A launch vehicle needs propellant tanks that have the capability of carrying large amounts of fuel or propellant yet are constrained by weight. Prepreg, which are characterized by their lightness and great mechanical strength, can be used in the fabrication of these tanks, thus, lowering the launch vehicle mass and increasing payload.
Based on the resin type – The space prepreg market is segmented into thermoset (epoxy, cyanate ester, BMI, and others) and thermoplastics (PEEK). Thermosets are expected to continue their dominance in the resin type during the forecast period. Thermosets are suitable for different manufacturing technologies, including autoclave molding, vacuum-bagging, and resin transfer molding (RTM), enabling the development of intricate and high-performance composite structures. Thermoset resins provide set industry standards and certifications for aerospace applications that are approved to meet the necessary safety and performance demands on space-related missions.
Based on the application type –The space prepreg market is segmented into payload, launch vehicles, and ground support equipment. Payload is expected to remain the dominant application type in the market during the forecast period. Payload is sections of satellites and spaceships that require carrying instruments, sensors, as well as equipment used in particular undertakings such as communication, earth observation, scientific studies, and even defense. Due to the specific roles played by payload, it often calls for high levels of technology, combined with accuracy in engineering. Prepreg provides characteristics like low weight, low expansion coefficient, and high mechanical strength which is favorable for retaining the payload and its performance in the space environment.
Based on the fiber type - The space prepreg market is segmented into carbon fiber, glass fiber, and aramid fiber. Carbon fibers are expected to have the largest share of the market during the forecast period. Due to the high temperatures in space, carbon fibers regime higher thermal stability than other materials. They can also endure the high temperatures of the launch and other low conditions in orbit without much wear and tear. Carbon fibers possess small dimensions coefficients of thermal expansion, thus, providing good dimensional stability and structural performance of composite materials at high and low temperatures, as is required in the space industry.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America is expected to remain the largest market for space prepreg during the forecast period. This growth outlook is majorly attributed to the following–
- North America has a mature and advanced aerospace market that comprises aerospace companies, research institutes, and government organizations that are part of space research and satellite production.
- The United States specifically devotes many resources towards space research and military expenditures. Government funding through programs like NASA’s Artemis and defense tenders and purchases push demand for a higher-end product like space prepreg.
- The prepreg market in North America has several manufacturers and suppliers focusing on aerospace-grade products. This local supply chain also guarantees smoothly the availability of high-quality prepregs to satellite producers and manufacturers of launch vehicles in the region.
Likewise, the Asia-Pacific is gradually becoming more popular, countries in the Asia-Pacific region, including China, India, Japan, and South Korea are all rapidly developing their space programs. More capital expenditure on satellite commencement, space expeditions, and inclusive space authorities continues to prompt the need for more hi-tech products such as space prepreg.
Space Prepreg Market Drivers:
Some of the key drivers listed in the report are given below.
- The rising utilization of lightweight materials for satellite and space vehicle construction.
- The growing number of satellites launches for communications, Earth observation, and scientific research.
- Expanding initiatives by government space agencies (NASA, ESA, CNSA, etc.) and private companies (like SpaceX and Blue Origin) are significantly boosting demand for advanced materials, including prepregs, for spacecraft and satellite manufacturing.
Top 10 Companies in the Space Prepreg Market:
Stratview Research has identified the following companies as the top market players (arranged alphabetically).
- Adamant Composites Limited
- Axiom Materials, Incorporation
- Hexcel Corporation
- Mitsubishi Chemical Advanced Materials
- Park Aerospace Corp.
- SGL Carbon SE
- Syensqo
- Teijin Limited
- The Gund Company
- Toray Advanced Composites
What Deliverables Will You Get in this Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the Space Prepreg Market |
| How lucrative is the future? | Market forecast and trend data and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter’s five forces analysis, PEST analysis, Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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