New Jersey, NJ, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Increasing demand for the prepreg materials from the automotive, aerospace & defense, and wind energy sector are driving global prepreg market. The global prepreg market is expected to grow from USD 6.21 Billion in 2017 to USD 13.95 Billion by 2025, at a CAGR of 10.65% during the forecast period from 2018-2025, according to the new report published by Fior Markets.
Prepregs are composite fibers that are pre-impregnated with resin matrix containing proper curing agents. The fibers often take the form of a weave and the resin matrix is used to fuse them together and to other components during manufacturing. As a result, the prepregs are ready to lay into the mold without the addition of any more resin. Prepreg materials are widely used in the manufacturing of aerospace components which is expected to have a positive impact on industry growth. Rising demand for prepregs from various applications industries such as automotive, sporting goods, wind, and military & defense due to their improved machinability, high strengths and shorter curing time are expected to boost the global demand for the prepregs over the forecast period. Growing popularity among industries such as marine, and electronics owing to its enhanced mechanical properties is anticipated to open new market avenues for the product over the next eight years.
Even though the factors such as the rise in number commercial aircrafts production, increasing demand for lightweight fuel efficient cars as well as growing worldwide emphasis on increasing wind energy production are driving the global prepreg market. The concerns related to the recyclability of prepregs and high production cost are anticipated to pose a challenge to the growth of the market. However, the emergence of electric vehicles, economies of scale driving down the production cost, and the reduction carbon fibers prices are expected to create new opportunities for the market growth in the upcoming years.
DOWNLOAD FREE SAMPLE REPORT AT https://www.fiormarkets.com/report-detail/385937/request-sample
Key players operating in global prepreg market are SGL Group, Gurit Holdings AG, Park Electrochemical Corporation, Toray Industries, Teijin Limited, Royal TenCate N.V., Hexcel Corporation, Solvay, Mitsubishi Rayon Co. Ltd., Axiom Materials, ACP Composites, The Carbon Company, Park Electrochemical Corp Airtech Advanced Materials Group, Kaneka Corp, Haydale Composite Solutions, and among others. In order to enhance their market position in the global prepreg market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in February 2019, Teijin Limited agreed to acquire Renegade Materials Corporation (Renegade), a leading North American supplier of highly heat-resistant thermoset prepreg for the aerospace industry. Renegade will become a wholly-owned subsidiary of Teijin.
- To serve the burgeoning demand for the carbon fiber prepegs from the aerospace and defense industry better, major players are focusing on raising their production capacities. For instance Kaneka Corp in 2018 announced its plan to manufacture high-performance thermoset resin based carbon fiber prepregs in North America.
- To cater to the ever increasing demand for the carbon fiber prepregs, firms are increasingly focusing on augmenting their production capacities via merger and acquisitions route. For instance, Solvay in 2015, announced the acquisition of U.S.-based carbon fiber and prepreg manufacturer Cytec Industries Inc. for USD 5.5 billion.
Carbon fiber prepregs segment had a market value of USD 2.72 billion in 2017
The fiber type segment is divided into the glass fiber, carbon fiber, and aramid fiber prepregs. The carbon fiber prepreg segment led the global prepreg market with USD 2.72 billion revenue in 2017. On account of their superior tensile strength, reduced weight and ease of molding into various shapes properties, the carbon fiber prepreg is widely utilized in the manufacturing of the primary & secondary structure of aircraft interiors, wind turbine blades, bicycle frames, golf shafts, tennis rackets, and others.
The thermoplastic segment is anticipated to grow at a CAGR of 12.63% in 2018-2025
Resin type is segmented into thermoset and thermoplastic. Owing to their less curing time and ease of molding into various shapes properties, the thermoplastic resin segment is projected to grow at the highest CAGR of 12.63% over the forecast period. Whereas thermoset prepreg segment emerged as the dominating resin type segment with USD 3.58 billion revenue in 2017.
Aerospace and defense segment had a market value of USD 2.68 billion in 2017
End user industry is categorized into aerospace and defense, automotive, sports and recreation, wind energy and others. Factors such as widespread utilization of carbon fiber prepregs in the manufacturing of aircraft due to their lightweight nature, fatigue resistance and high stiffness, led the aerospace and defense segment to dominate the global prepreg market with USD 2.68 billion revenue in 2017.
Browse full report with TOC at https://www.fiormarkets.com/report/prepreg-market-by-fiber-type-carbon-fiber-glass-385937.html
Region Segment Analysis of the Prepreg Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region emerged as the largest market for the prepregs with a 39.41% share of revenue in 2017 whereas Asia Pacific region is the second leading region in the global prepreg market. Due to unabated demand for the prepregs materials from the wind energy, sporting goods, electronics and aerospace & defense applications accompanied by regulatory norms requiring the use of ecofriendly materials are anticipated to propel the Asia Pacific region to grow at a CAGR of 12.94% over the forecast period. North America region also held a significant market share in 2017, owing to constant demand for the prepreg materials from its well-established, aerospace, defense and automotive manufacturing industry.
About the report:
The global prepreg market is analysed on the basis of value (USD Billion), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
For Instant Purchase: https://www.fiormarkets.com/checkout.html?reportid=385937&type=single
Customization of the Report:
The report can be customized as per client requirements. For further queries, you can contact us on sales@fiormarkets.com or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.
About Fior Markets
Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.
Contact Us
Avinash D
Head of Business Development
Phone: +1-201-465-4211
Email: sales@fiormarkets.com
Web: www.fiormarkets.com
Blog: http://topnewsherald.com
Related Reports
- Global Foam tape Market - https://www.fiormarkets.com/report/foam-tape-market-by-resin-type-acrylic-rubber-385924.html
- Global Generator Sales Market - https://www.fiormarkets.com/report/generator-sales-market-by-type-diesel-gas-other-385925.html
- Global High-Temperature Phase Change Materials (PCM) Market - https://www.fiormarkets.com/report/high-temperature-phase-change-materials-market-by-type-organic-385926.html
- Global In-Flight Catering Market - https://www.fiormarkets.com/report/in-flight-catering-market-by-food-offering-beverages-deserts-385927.html