A13227 | Pages: NA | Sep 2022 | 1148 Views | ||
Author(s) : Sonia Mutreja | Tables: NA | Charts: NA |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Aerospace Prepreg Market
Request Now !Prepreg is a composite material that consists of a partially cured polymer matrix and pre-impregnated fibers, such as phenolic resin, epoxy, resins, or thermoplastics mixed with liquid rubbers. Commercial, military/defense, aerospace, space/satellite, sports, maritime, wind energy, engineering, and other industries are all expected to benefit from the global prepreg market in the future. In aviation, automobile, and other industries, use of prepreg has increased. As a result, prepreg-based compounds account for more than half of the weight in building of big transport airplanes. However, owing to high cost of goods and production materials, additional utilization is limited.
Market scope and structured analysis:
Report Metric | Details |
Market size available for years | 2020-2030 |
Base year considered | 2020 |
Forecast period | 2021-2030 |
Forecast units | Value(USD) |
Segment covered | Fiber type, Resin type, Form Type, Application and Region |
Regions covered | North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) |
Companies covered | C. A. Litzler Co., Inc., ENEOS Corporation, Gurit, Hexcel Corporation, Mitsubishi Chemical Corporation, Notus Composites, PARK AEROSPACE CORP., Solvay, TEIJIN LIMITED, TORAY INDUSTRIES, INC.
|
COVID-19 Impact analysis
The outbreak of the COVID-19 pandemic has impacted the global prepreg market to a great extent. Prepreg is majorly used in the aerospace sector. However, the aerospace sector had shut down operations due to the lockdown. This has led to decline in the prepreg market. The electrical industry is also highly impacted by the COVID-19 outbreak. Prepreg is used as insulating material in circuit board and in lockdown all manufacturing units were closed, which limited the demand for prepreg in the market. The pandemic has devastated the world, especially the regions of North America and Europe. To prevent further spread of the virus, companies have closed their operations and production facilities. This has led to a reduction in use of prepregs in automobile, space, defense, wind power, sports equipment, automotive, and other industries.
Top Impacting Factors
Increasing Demands from the Aerospace & Defense Industry to Drive the Global Prepreg Market
For lightweight components and materials, the aerospace and defense industries rely heavily on the global prepreg market. This market is expected to grow as a result of advancements in 3D printing technology for the fabrication of lightweight aircraft parts, government initiatives, and key players investing heavily in aircraft Research & development. As a result, opportunities for the global prepreg market to supply a lightweight, mechanically strong, low electrical conductivity material like prepreg emerges. Prepreg is widely used in the manufacture of aircraft, helicopters, defense aircraft, and aero-engines, which is fueling the global prepreg market's growth. For instance, an overall steady growth rate in the aerospace industry and increased applications of prepregs in military applications provide a great opportunity and growth potential for prepreg manufacturers. In September 2018, Constellium N.V. announced its agreement with The Boeing Company. This agreement will support Constellium to strengthen its partnership with Boeing in military and defense sector.
Reduction in cost of carbon fibersFacebookTwitterLinkedInMore
Carbon fiber offers a great many performance and light weighting benefits for composites. Lower cost manufacture and increased use of recycled aircraft material now promise to widen the range of applications that could benefit from its properties. Carbon fiber has numerous performance and light weighting advantages in aerospace composites. Lower manufacturing costs and increased recycling of aerospace material promise to expand the range of applications that can benefit from its features. Oak Ridge National Laboratory's (ORNL) carbon fiber meets the performance specifications set out by some aerospace manufacturers for high-strength composite materials utilized in high-volume applications. The method has the potential to speed up the adoption of sophisticated composites in aircraft industries. The accelerated adoption of carbon fiber composites in high-volume industrial applications including aviation, defense, and space. For instance, Teijin Ltd. has agreed to acquire Renegade Materials Corp., a North American supplier of highly heat-resistant thermoset prepreg for the aerospace industry. Renegade will become a wholly-owned subsidiary of Teijin. The shares of Renegade will be purchased by Teijin Holdings USA Inc., the Teijin Group's holding company in the United States. The acquisition is anticipated to be completed this spring after customary closing conditions have been satisfied including receipt of regulatory approvals. Teijin will benefit from Renegade’s well-established proprietary technologies and solution capabilities in heat-resistant thermoset prepregs to expand its business in aerospace field including next-generation aircraft engine parts.
Key segments covered
Segments | Subsegments |
Fiber Type |
|
Resin type |
|
Form type |
|
Application |
|
Regions |
|
Key Benefits of the Report
Questions Answered in the aerospace prepreg market research report:
Key Market Segments & Key Market Players
Segments | Sub-segments |
---|---|
By Fiber Type |
|
By Resin Type |
|
By Application |
|
By Region |
|
Key Market Players |
|
Loading Table Of Content...
Start reading.
This Report and over 13,000+ more Reports, Available with Avenue Library. T&C*.
10%
Discount
10%
Discount
15%
Discount
15%
Discount
Enterprise
License/PDF
20%
Discount
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers