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2021
Prepreg Market

Prepreg Market: Global Opportunity Analysis and Industry Forecast, 2021–2028

A11471
Pages: NA
Dec 2021 | 217 Views
   
Author(s) : Eswara Prasad
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COVID-19

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Prepreg Market Analysis 2021-2028

Prepreg is an integrated material made from partially cured polymer matrix and pre-impregnated fibers, such as phenolic resin, epoxy, resins or thermoplastic mixed with liquid rubbers. The future of the global prepreg market looks promising for opportunities in the commercial, military/defense, aerospace, space/satellite, sports, maritime, wind energy, engineering industries and other industries. The use of prepreg has increased dramatically in the aviation, automobile, and other industries. Therefore, compounds in the form of prepreg contribute to more than 50% of the weight in the construction of large transport aircraft. However, additional use is restricted due to the high cost of goods and production materials.

Market Scope and Structure Analysis:

Report Metric

Details

  Market Size Available for Years

  2019–2028

  Base Year Considered

  2020

  Forecast Period

  2021–2028

  Forecast Units

  Value (USD)

  Segments Covered

ResinType, Fiber Type, Weave Type, End User Industry, Form, and Region

  Geographies Covered

 North America, Europe, Asia-Pacific, LAMEA

  Companies Covered

Axiom Materials Inc., Park Aerospace Corp., Mitsubishi Chemical Carbon Fiber & Composites Inc., Solvay, Hexcel Corporation, Teijin Limited, Park Aerospace Corp., Royal Ten Cate, Gurit Holdings, SGL Group, Toray Industries, Cytec Industries and Mitsubishi Rayon Co.


COVID-19 Scenario 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 the operations due to lockdown. This led to high decline in the prepreg market.
  • 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 the further spread of the virus, companies have closed their operations and production facilities. This has led to a reduction in the use of prepregs in the automobiles, space, defense, wind power, sports equipment, automotive, and other industries.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The major application of prepreg is to reduce the original weight of the component in aerospace, automotive, and electrical industry. One of the major factors responsible for driving the growth of prepreg market is changing the world into green energy since all the rotor blades in wind turbines, insulators in electric vehicles are made up of prepregs. Prepregs (carbon prepregs) are widely used to minimize the use of metal parts. It is used to manufacture exterior and interior structures, as the modulus and specific strength of pregpreg are higher than most metallic alloys. Another major factor that boosts the growth of the carbon fiber prepreg market is the substantial use of the product in manufacturing the interior dashboard in cars. The main characteristic of prepreg is that it is lightweight in comparison to any other metal. However, the product is widely used for instrument panels, fabrication of bumpers, weather strip, ceiling materials, and air backs in the automotive industry. In 2020, automotive giant Tesla started carbon fiber implantation in their model 3, which has started a new trend for the auto composites in the industry. Such trends are projected to foster the growth of the prepreg market in the coming years.

In terms of market share, the U.S. dominates the prepreg market as the country has a powerful defense infrastructure. The country is one of the world class leaders in the automotive industry as well. This is anticipated to boost the demand for prepreg in the U.S. market.

Key Segments Covered

Segments

Sub-segments

  Resin Type

  • Thermoset
  • Thermoplastic
  • Epoxy
  • Others

  Fiber Type

  • Carbon
  • Glass
  • Aramid

  Weave Type

  • UD Prepreg
  • Fabric Prepreg

  End User Industry

  • Aerospace and Defence
  • Automotive
  • Electrical and Electronics
  • Others

  Form

  • Tow Prepreg
  • Fabric Prepreg


Key Benefits of the Report:

  • This study presents the analytical depiction of the global prepreg market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global prepreg market share.
  • The current market is quantitatively analyzed from 2019 to 2028 to highlight the global prepreg market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global prepreg market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions Answered in the Prepreg Market Research Report:

  • Who are the leading market players active in the prepreg market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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