Prepreg Market Research Report—Global Forecast till 2028

Prepreg Market Research Report: Information By Fiber Reinforcement Type (Carbon Fiber Prepreg, Glass Fiber Prepreg, Aeamid Fiber Prepreg, Other), By Application (Aerospace & Defense, Wind Energy, Automotive, Sporting Goods, Electronics, Other), By Region (North America, Europe, Asia Pacific) Forecast till 2028

ID: MRFR/CnM/9099-HCR | June 2021 | Region: Global | 185 pages

Market Forecast


According to MRFR analysis, the global Prepreg Market is projected to register a CAGR of over 9% to reach around USD 10 Billion by the end of 2028.


Prepregs are composite materials thathave reinforcement fiber pre-impregnated with a thermoplastic or thermoset resin matrix in a certain ratio. They have unique properties as they are cured under high temperatures and pressures. Reinforcement materials used in prepregs provide composites with an enhanced mechanical, physical, and chemical characteristics. That is the case for prepreg materials, providing high-quality uniform material properties, but they are highly expensive.Therefore, prepregs are mainly used for high-performance applications in industries such as aerospace, military, automotive, sports, and wind energy.


Prepregs are manufacturedusing two different processes, namely, hot-melt process and solvent dip process.


The key driver of the prepreg market is its use in a wide range of end-use industries. The use of prepreg materials in the aerospace industry helps the manufacturers to reduce weight, increase strength, and increase environmental corrosion resistance. The increasing demand for lightweight and fuel-efficient military aircraft for homeland security and counterterrorism is expected to fuel the global market growth in the North American region. The US Geological Survey stated in its Minerals Book 2015 that the global aircraft fleet is expected to double over the next 20 years. According to the Aerospace Industries Association, the total exports of the US aerospace industry stood at USD 148 billion and USD 909 billion in sales revenue in 2019. The five major destinations for the US aerospace exports in 2019 were France, the UK, Germany, China, and Canada.


The increasing focus on renewable energy sources due to environmental concerns and depleting fossil fuels promote the demand for wind energy, thereby driving the global prepreg market. According to the DNV-GL Energy Transition Outlook 2017, the total global final energy demand is estimated to increase to 430EJ by 2050. The necessity for energy and power across most of the end-use industries is likely to have a positive impact on the demand for renewable energy, thus, driving the global prepreg market.


Regulatory Framework


Various ASTM standards regulate the manufacturing and testing of composites, which are instrumental in evaluating and determining of the physical, shear, tensile, flexural, and compressive properties of various forms of composite materials used in structural applications. These composites include sandwich core materials, honeycomb core materials, matrix composite materials, laminates and plates and bars, carbon fiber-epoxy prepregs, continuous filament carbon and graphite fiber tows, hoop wound polymer matrix composite cylinders, sandwich beams, flat composite panels, supported sandwich composite plates, and fabric-reinforced textile composite materials. These composite standards are also helpful in guiding manufacturers and users of such materials in their proper fabrication and testing to assure their quality.


The Federal Aviation Administration also regulates and recommends criteria for the development of material specifications for prepregs.


Impact of Coronavirus Outbreak


According to the United Nations, the global economy is projected to contract by around 3% or more instead of registering 2.5% growth projected by the World Economic Situation and Prospects report 2020. Governments imposed various monetary and fiscal policies across the globe to mitigate the impact of COVID-19, offering relief to consumers.


The coronavirus outbreak has negatively impacted the growth of the prepreg market across the globe on account of the declined demand from the automotive and aerospace & defense industries. The pandemic has resulted in disruptions in the operations and global supply chain across end-use industries. The disruptions have resulted slowing or shutting down of the markets. The imposition of lockdown and travel restrictions worldwide has resulted in a slowdown in the automotive and aerospace industries. Furthermore, the restrictions on crowds and imposition of safety regulations resulted in the shutting down of public places, thus affecting the sporting goods industry. The manufacturers across various end-use industries have shifted/modified their production lines to COVID-19 relief products such as gloves, masks, sanitizers, etc.


Supply Chain Analysis


The supply chain analysis is the process of evaluating every stage and step taken by stakeholders involved throughout the production and distribution of prepreg. The supply chain includes raw materials and suppliers, prepreg producers, distribution channels, and end-use industries.


Advanced fibers such as carbon fiber and aramid with high-quality epoxy resins are the most common materials used in prepreg structures. The distribution channel in this market comprises distributors, wholesalers, and e-commerce merchants.


Market USP


Prepreg is lightweight and has high strength


Market Drivers



  • Increasing demand from aerospace industries

  • High demand for renewable energy

  • Growth in automotive sales


Market Restraints



  • High cost of prepregs


Segmentation


By Fiber Reinforcement Type



  • Carbon Fiber Prepreg: Prepregs produced using high-quality mineral and carbon fibers in nano-filled epoxy and polyimide resins for polymer composites find use in many sectors such as aircraft, construction, and wind power. The benefits of carbon fiber in prepreg offer benefits such as high strength, reduced weight, stress resistance, and corrosion resistance.

  • Glass Fiber Prepreg: Glass fiber prepreg finds extensive use in the aerospace & defense industry owing to its lightweight nature. Moreover, the adverse impacts of asbestos result in the use of glass fiber as substitutes, thereby driving the global market.

  • Aramid Fiber Prepreg: Applications of aramid fiber prepregs include motorsports, fashion industry, aircraft construction, ship construction, sports equipment, automotive engineering, and electrical products.

  • Others: The others segment includesboron fibers andceramic fibers. Boron fibers have been used in composites on account of beneficial properties such as excellent toughness and compressive strength. However, characteristics such as susceptibility to light/difficulty machining and brittleness have limited their use.


By Resin Type



  • Thermoset Prepreg: Thermoset prepregs are synthetic polymer-reinforced fibers pre-impregnated with high-grade resins. When heated, these materials become exceptionally strong and durable while remaining extremely lightweight compared to traditional metallic solutions. The resins used in thermoset prepregs include epoxy, polyester, and others.

  • Thermoplastic Prepreg: Thermoplastic prepregs are composite reinforcements that are pre-impregnated with a thermoplastic resin, including PP, PET, PE, PPS, and PEEK. Thermoplastic prepregs can be provided in unidirectional tape or in fabrics that are woven or stitched. Thermoplastic prepregs are stable at room temperature and generally do not have a shelf life. Hence, the thermoset prepregs are preferred over thermoplastic prepregs.


By Application



  • Aerospace & Defense:In the aerospace & defense industry, prepregs are usedto manufacture aircraft interiors, aerospace components, aircraft flooring, cargo liners, and honeycomb and foam panels. The increase in aircraft production can be attributed to improved commercial aviation networks, growth of the tourism industry, rapid economic development, and increased air passenger traffic. Thus, the growth of the aerospace industry is expected to increase the demand for prepregs, thereby driving the global market.

  • Wind Energy:Prepregs find wide applications in the manufacturing of complex structural compounds of wind turbines. The focus on renewable energy sources owing to the depletion of fossil fuels and environmental concerns drives the demand for prepregs in wind energy.

  • Automotive: Automotive parts and components, tooling, ballistic panels, and others are manufactured using prepregs. Some of the other applications include UAVs, seatbacks, etc.

  • Sporting Goods: It is used in the sporting goods industry for various applications such as skis & snowboards, bicycles, rackets, golf clubs & shafts, hockey sticks, and fishing rods. The sales of sporting goods areincreasing dueto increasing health concerns among the youth and the older generation.

  • Electronics: Prepreg is the base material for printed circuit boards. Semiconductors, connectors, resistors, diodes, capacitors, and radio devices are mounted to communicate to one another using PCB. PCBs are extensively used in medical, aerospace, and military industries.

  • Others: The others segment includesmarine, transportation, building & construction, etc.


By Region



  • North America:The North American market for prepregis driven by the expanding industrial sector in the region. The US is one of the leading military forces across the globe and is projected to remain so. The growing demand for lightweight and fuel-efficient military aircraft for homeland security and counterterrorism is the major factor expected to fuel the regional market growth. The US aerospace and defense industry generated USD 909 billion in economic output in 2019, supporting approximately 2.2 million jobs.

  • Europe:The market in Europe is projected to witness high demand for prepreg due to the growth of the automotive, aerospace, and energy industries in the region. Major contributors to the market growth include Germany, the UK, France, and Russia.

  • Asia-Pacific:Asia-Pacific is the fastest-growing regional market on account of the rapid industrialization in the region. The growth potential is in emerging economies such as India, South Korea, Thailand, and Malaysia.


Key Players



  • Solvay

  • Hexcel Corporation

  • Toray Industries, Inc.

  • Teijin Limited

  • Mitsubishi Chemical Corporation

  • SGL Carbon

  • AXIOM MATERIALS

  • Gurit

  • PARK AEROSPACE CORP.

  • Plastic Reinforcement Fabrics Ltd

  • DuPont

  • GMS COMPOSITES

  • SHD Composite Materials Ltd



Report Scope:
Report Attribute/Metric Details
  Market Size   2028: USD 10 Billion
  CAGR   9% (2021 - 2028)
  Base Year   2020
  Forecast Period   2028
  Historical Data   2019
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application, Region
  Geographies Covered   North America, Europe, Asia-Pacific
  Key Vendors   1. Solvay 2. Hexcel Corporation 3. Toray Industries, Inc. 4. Teijin Limited 5. Mitsubishi Chemical Corporation 6. SGL Carbon 7. AXIOM MATERIALS 8. Gurit 9. PARK AEROSPACE CORP. 10. Plastic Reinforcement Fabrics Ltd 11. DuPont 12. GMS COMPOSITES 13. SHD Composite Materials Ltd
  Key Market Opportunities   
  Key Market Drivers   - Increasing demand from aerospace industries


Table of Contents

1. EXECUTIVE SUMMARY

1.1. Market Attractiveness Analysis

1.1.1. Global Prepreg Market, byFiber Reinforcement Type

1.1.2. Global Prepreg Market, by Resin Type

1.1.3. Global Prepreg Market, by Application

1.1.4. Global Prepreg Market, by Region

2. MARKET INTRODUCTION

2.1. Definition

2.2. Scope of the Study

2.3. Market Structure

3. RESEARCH METHODOLOGY

3.1. Research Process

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

3.5. Forecast Model

3.6. List of Assumptions& Assumptions

4. MARKET DYNAMICS

4.1. Introduction

4.2. Drivers

4.3. Restraints

4.4. Opportunities

4.5. Challenges

4.6. Trends

5. MARKET FACTOR ANALYSIS

5.1. Supply Chain Analysis

5.1.1. Raw Material Suppliers

5.1.2. PrepregManufacturers

5.1.3. Distribution & Sales Channel

5.1.4. EndUsers

5.2. Porter’s Five Forces Model

5.2.1. Bargaining Power of Suppliers

5.2.2. Bargaining Power of Buyers

5.2.3. Threat of New Entrants

5.2.4. Threat of Substitutes

5.2.5. Intensity of Rivalry

5.3. Pricing Analysis(USD/Tons), by Region

5.4. Impact of COVID-19 on the Global Prepreg Market

6. GLOBAL PREPREG MARKET, BY FIBER REINFORCEMENT TYPE (KILO TONS) (USD MILLION)

6.1. Introduction

6.2. Carbon Fiber Prepreg

6.2.1. Market Estimates & Forecast, by Region/Country, 2019–2028

6.3. Glass Fiber Prepreg

6.3.1. Market Estimates & Forecast, by Region/Country, 2019–2028

6.4. Aramid Fiber Prepreg

6.4.1. Market Estimates & Forecast, by Region/Country, 2019–2028

6.5. Others

6.5.1. Market Estimates & Forecast, by Region/Country, 2019–2028

7. GLOBAL PREPREG MARKET, BY RESIN TYPE (KILO TONS) (USD MILLION)

7.1. Introduction

7.2. Thermoset

7.2.1. Epoxy

7.2.1.1. Market Estimates & Forecast, by Region/Country, 2019–2028

7.2.2. Polyester

7.2.2.1. Market Estimates & Forecast, by Region/Country, 2019–2028

7.2.3. Others

7.2.3.1. Market Estimates & Forecast, by Region/Country, 2019–2028

7.3. Thermoplastic

7.3.1. PP

7.3.1.1. Market Estimates & Forecast, by Region/Country, 2019–2028

7.3.2. PET

7.3.2.1. Market Estimates & Forecast, by Region/Country, 2019–2028

7.3.3. PPS

7.3.3.1. Market Estimates & Forecast, by Region/Country, 2019–2028

7.3.4. PEEK

7.3.4.1. Market Estimates & Forecast, by Region/Country, 2019–2028

7.3.5. Others

7.3.5.1. Market Estimates & Forecast, by Region/Country, 2019–2028

8. GLOBAL PREPREG MARKET, BYAPPLICATION (KILO TONS) (USD MILLION)

8.1. Introduction

8.2. Aerospace & Defense

8.2.1. Market Estimates & Forecast, by Region/Country, 2019–2028

8.3. Wind Energy

8.3.1. Market Estimates & Forecast, by Region/Country, 2019–2028

8.4. Automotive

8.4.1. Market Estimates & Forecast, by Region/Country, 2019–2028

8.5. Sporting Goods

8.5.1. Market Estimates & Forecast, by Region/Country, 2019–2028

8.6. Electronics

8.6.1. Market Estimates & Forecast, by Region/Country, 2019–2028

8.7. Others

8.7.1. Market Estimates & Forecast, by Region/Country, 2019–2028

9. GLOBAL PREPREG MARKET, BYREGION(KILO TONS) (USD MILLION)

9.1. Overview

9.2. North America

9.2.1. US

9.2.2. Canada

9.3. Europe

9.3.1. Germany

9.3.2. UK

9.3.3. France

9.3.4. Russia

9.3.5. Spain

9.3.6. Denmark

9.3.7. Italy

9.3.8. Rest of Europe

9.4. Asia-Pacific

9.4.1. China

9.4.2. Japan

9.4.3. India

9.4.4. South Korea

9.4.5. Australia & New Zealand

9.4.6. Indonesia

9.4.7. Rest of Asia-Pacific

9.5. Latin America

9.5.1. Brazil

9.5.2. Mexico

9.5.3. Argentina

9.5.4. Rest of Latin America

9.6. Middle East & Africa

9.6.1. Turkey

9.6.2. UAE

9.6.3. Saudi Arabia

9.6.4. South Africa

9.6.5. Rest of the Middle East & Africa

10. COMPETITIVE LANDSCAPE

10.1. Market Introduction

10.2. Recent Developments

10.2.1. Mergers/Acquisitions, Expansion, Investment, Partnership, Collaboration, Product Launch

10.3. Global Market Strategy Analysis

10.4. Competitive Benchmarking

11. COMPANY PROFILES

11.1. Solvay

11.1.1. Company Overview

11.1.2. Financial Overview

11.1.3. Products Offered

11.1.4. Key Developments

11.1.5. SWOT Analysis

11.1.6. Key Strategies

11.2. Hexcel Corporation

11.2.1. Company Overview

11.2.2. Financial Overview

11.2.3. Products Offered

11.2.4. Key Developments

11.2.5. SWOT Analysis

11.2.6. Key Strategies

11.3. Toray Industries, Inc.

11.3.1. Company Overview

11.3.2. Financial Overview

11.3.3. Products Offered

11.3.4. Key Developments

11.3.5. SWOT Analysis

11.3.6. Key Strategies

11.4. Teijin Limited

11.4.1. Company Overview

11.4.2. Financial Overview

11.4.3. Products Offered

11.4.4. Key Developments

11.4.5. SWOT Analysis

11.4.6. Key Strategies

11.5. Mitsubishi Chemical Corporation

11.5.1. Company Overview

11.5.2. Financial Overview

11.5.3. Products Offered

11.5.4. Key Developments

11.5.5. SWOT Analysis

11.5.6. Key Strategies

11.6. SGL Carbon

11.6.1. Company Overview

11.6.2. Financial Overview

11.6.3. Products Offered

11.6.4. Key Developments

11.6.5. SWOT Analysis

11.6.6. Key Strategies

11.7. AXIOM MATERIALS

11.7.1. Company Overview

11.7.2. Financial Overview

11.7.3. Products Offered

11.7.4. Key Developments

11.7.5. SWOT Analysis

11.7.6. Key Strategies

11.8. Gurit

11.8.1. Company Overview

11.8.2. Financial Overview

11.8.3. Products Offered

11.8.4. Key Developments

11.8.5. SWOT Analysis

11.8.6. Key Strategies

11.9. PARK AEROSPACE CORP.

11.9.1. Company Overview

11.9.2. Financial Overview

11.9.3. Products Offered

11.9.4. Key Developments

11.9.5. SWOT Analysis

11.9.6. Key Strategies

11.10. Plastic Reinforcement Fabrics Ltd

11.10.1. Company Overview

11.10.2. Financial Overview

11.10.3. Products Offered

11.10.4. Key Developments

11.10.5. SWOT Analysis

11.10.6. Key Strategies

11.11. DuPont

11.11.1. Company Overview

11.11.2. Financial Overview

11.11.3. Products Offered

11.11.4. Key Developments

11.11.5. SWOT Analysis

11.11.6. Key Strategies

11.12. GMS COMPOSITES

11.12.1. Company Overview

11.12.2. Financial Overview

11.12.3. Products Offered

11.12.4. Key Developments

11.12.5. SWOT Analysis

11.12.6. Key Strategies

11.13. SHD Composite Materials Ltd

11.13.1. Company Overview

11.13.2. Financial Overview

11.13.3. Products Offered

11.13.4. Key Developments

11.13.5. SWOT Analysis

11.13.6. Key Strategies

12. APPENDIX

12.1.1. Discussion Blueprint