Dublin, June 20, 2023 (GLOBE NEWSWIRE) -- The "Global Tow Prepreg Market 2023-2028 by Resin, Fiber, Applications, End-Users, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Tow Prepreg Market is estimated to be USD 279.06 Mn in 2023 and is expected to reach USD 562.27 Mn by 2028, growing at a CAGR of 15.04%.
Tow prepreg refers to a type of composite material used in manufacturing processes, particularly in industries like aerospace, automotive, and sports equipment. It is a combination of reinforcing fibers, typically carbon or glass, and a matrix material, usually a thermosetting resin. The term 'tow' refers to a bundle of continuous, parallel fibers, which are typically impregnated with the resin matrix. The fibers are aligned in a specific direction, usually in a unidirectional (UD) arrangement, to provide strength and stiffness along that axis. The resin matrix holds the fibers together and transfers the load between them.
The Tow prepregs find applications in the oil and gas industry due to their high strength and resistance to corrosion. As the demand for energy resources continues to rise, the need for tow prepregs in applications like pipelines, offshore structures, and tanks increases.
However, the Tow prepregs involve complex manufacturing processes and require specialized equipment and facilities. This leads to higher processing and manufacturing costs, which has a deterrent for potential buyers and limits market growth.
The aerospace industry requires lightweight, high-performance materials for aircraft manufacturing. Tow prepregs offer excellent mechanical properties, weight reduction, and fuel efficiency. As the aerospace industry continues to expand, the demand for tow prepregs is expected to rise.
Further, the high processing and manufacturing costs associated with tow prepregs present a challenge for market growth. Developing low-cost manufacturing technologies without compromising the material's quality and performance is a significant challenge faced by industry players.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the Global Tow Prepreg Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the Global Tow Prepreg Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Tow Prepreg Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
- Excel data sheet for the market size will also be provided with the report.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
- The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
- The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $279.06 Million |
| Forecasted Market Value (USD) by 2028 | $562.27 Million |
| Compound Annual Growth Rate | 15.0% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increasing Demand for Tow Prepregs form the Oil & Gas Industry
- Advantages over the Wet-Winding Process
- Growing Automotive & Transportation Industry
Restraints
- High Processing and Manufacturing Cost
- Significant Investments in Research & Development
Opportunities
- Increasing Demand from Emerging Economics
- Penetration of Tow Prepregs in New Application
- Rising Demand for Tow Prepregs in the Growing Aerospace Industry
Challenges
- Developing Low-Cost Technologies
Companies Mentioned
- Arisawa Manufacturing Co., Ltd.
- ENEOS Corp.
- Fibrtec, Inc.
- Hexcel Corp
- HyPerComp Engineering
- JXTG Holdings, Inc
- Mitsubishi Chemical Holdings Corp
- North Thin Ply Technology
- Porcher Industries
- Red Composites Ltd
- SGL Carbon SE
- TCR Composites, Inc.
- Teijin Ltd.
- Toray Industries, Inc.
- Toyobo Co. Ltd.
- U.S. Composites, Inc.
- Vitech Composites
Market Segmentation
The Global Tow Prepreg Market is segmented based on Resin, Fiber, Applications, End-Users, and Geography.
- By Resin, the market is classified into Epoxy and Phenolic. Epoxy segment has the largest market share. Epoxy resins are widely used in tow prepregs due to their excellent mechanical properties, high adhesion strength, and chemical resistance. Epoxy-based tow prepregs find extensive applications in industries such as aerospace, automotive, wind energy, and sports equipment. They offer superior strength-to-weight ratio and durability, making them the preferred choice for demanding applications.
- By Fiber, the market is classified into Carbon and Glass. Carbon has the significant growth in the market. As the Carbon fibers provide exceptional strength, stiffness, and lightweight characteristics, making them highly desirable for various high-performance applications. Carbon fiber-based tow prepregs are extensively used in industries like aerospace, automotive, marine, and sporting goods, where weight reduction and superior mechanical properties are crucial.
- By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific. The Americas has the largest market share. This is primarily driven by the strong presence of aerospace and defense industries and the growing demand for lightweight and high-performance materials in these sectors.
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