Prepreg Market Size, Share, Growth, Regional Trends, Business Opportunities, Competition and Forecast to 2030
According to the most recent analysis by Emergen Research, the size of the worldwide prepreg market reached USD 6.94 billion in 2021 and is projected to grow at a revenue CAGR of 10.7% during the forecast period. A substantial portion of the market revenue growth is being driven by increased demand for prepreg from a variety of end-use sectors, including aerospace & defence and the automotive sector. Due to their low weight and high strength, composite materials like carbon fibre have supplanted metal in the construction of vehicles and aircraft.
The price of prepreg is inflated by the high manufacturing costs of the aramid, carbon, and glass fibres used as raw materials. Market expansion is predicted to be threatened by rising raw material prices. The market is expected to increase as more sophisticated processing and assembly methods are used to shorten lead times and improve product quality.
To obtain raw materials at reasonable prices and achieve a competitive edge, major market companies are integrated across the stages of the value chain, including raw material supply and product manufacturing. Additionally, businesses are concentrating on R&D expenditures to create high-quality items, which will probably promote industry growth.
Impact of COVID-19 on global prepreg market
The COVID-19 pandemic has caused a downturn in the prepreg market in 2020. The entire world has been negatively impacted by this terrible illness, but particularly North America and Europe. Prepreg use decreased throughout the automotive, aerospace & military, wind energy, sporting goods, automobile, and other industries as a result of companies closing their operations and manufacturing facilities to stop the further spread of this virus.
Key Highlights From the Report
Increasing demand from the wind energy end-use industry to drive the demand for prepreg
The wind energy business is one of the largest application industries in the prepreg market in terms of volume. Pregnancies play a significant role in producing the intricate structural components of wind turbines.
The wind energy segment is anticipated to post a significantly stable revenue growth rate in 2021. The wind energy segment is experiencing revenue growth as a result of the increased attention being paid to environmental sustainability and worries about the depletion of fossil fuel resources.
High processing and manufacturing cost is a major restrain for the prepreg market
Prepreg usage has grown significantly in various industries, including aerospace, wind energy, and others. At present, composites in the form of prepreg contribute over 50% of the structural mass of large transport aeroplanes. However, further use has been restricted because of the expensive material and manufacturing costs. In order to lower the price of prepreg products, cost estimation tools must be used early in the design process.
Some major companies in the global market report include Hexcel Corporation, Toray Industries, Inc., Park Aerospace Corp., Teijin Limited, Mitsubishi Chemical Carbon Fiber and Composites, Inc., SGL Carbon, Gurit, Rock West Composites, Inc., Plastic Reinforcement Fabrics Ltd., and ACP Composites, Inc.
Emergen Research has segmented the global Prepreg market on the basis of resin, manufacturing process, fiber, end-use, and region:
Resin Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
Manufacturing Process Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
- Solvent dip
Fiber Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
End-Use Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
- Aerospace & defense
- Wind energy
- Sporting goods
Regional Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
Browse Full Report Description + Research Methodology + Table of Content + [email protected] https://www.emergenresearch.com/industry-report/prepreg-market
At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: [email protected]