Fior Markets launched a study titled “Prepreg Market by Fiber Type (Carbon Fiber, GlassFiber, Aramid Fiber), Resin Type, Manufacturing Process, End User Industry, Regions”,and Global Forecast 2018-2025.
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. Increasing demand for the prepreg materials from the automotive, aerospace & defense, and wind energy sector are driving global prepreg market.
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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, 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.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. On account of continuous demand for the prepreg materials from the wind energy, sporting goods, electronics, and aerospace & defense applications accompanied by regulatory norms requiring the use of eco-friendly materials, the Asia Pacific region emerged as the leader in the global demand for the prepreg with USD 2.44 billion revenue in 2017.
Major players in the 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 CorpAirtech Advanced Materials Group, Kaneka Corp, Haydale Composite Solutions, and among others.
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