Prepreg Market is expected to grow USD 10 billion at a CAGR 9% during the forecast period, says market research future (MRFR). Prepreg is a term that refers to a reinforcing fabric that has been impregnated with a resin system before to being used. This resin system, which is frequently epoxy, has a curing agent. As a result, the product is ready to lay into the mold without the addition of additional resin. They are widely employed in a variety of industries, including racing, aircraft, sporting goods, and commercial products.
The aerospace industry's high demand for prepreg due to its strength and lightweight features, which aid in the manufacture of lightweight aircraft that reduce emissions and material usage while increasing fuel efficiency, is a major driver of the prepreg market. The market is developing due to the increasing need for materials with low electrical conductivity, high durability, and low density across a variety of industries, including automotive, wind energy, and the increased usage of prepreg by Boeing and Airbus.
The global prepreg market's future appears to be bright, with prospects in commercial, military/defense, aerospace, space/satellite, sports, maritime, wind energy, and engineering industries, among others. Prepreg's use in aviation, automobiles, and other industries has risen rapidly. As a result, prepreg compounds account for more than 50% of the weight in the building of big transport airplanes. Additional utilization, however, is limited due to the high cost of goods and manufacturing resources.
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.
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.
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.
Prepreg is lightweight and has high strength
By Fiber Reinforcement Type
By Resin Type
Teijin of Japan has introduced high-performance carbon fiber prepegs made from advanced engineering plastics such as polyetheretherketone (PEEK), polyaryletherketone (PAEK), and polyethersulfone (PSE), as well as polyphenylene sulfide (PPS). Teijin currently offers three additional matrix materials for carbon-fiber composites in the automotive sector, including polypropylene (PP)/polycarbonate (PC), PC, and polyamide (PA). In comparison to Teijin's existing thermoplastic intermediate materials based on PEEK, PAEK, PPS, and PSE resins, prepregs based on the three new thermoplastic resins can be molded at lower temperatures for faster and more cost-effective production, making them ideal for applications requiring high production efficiency, such as automobiles, sporting goods, and precision instruments.
|Market Size||2030: USD 10 Billion|
|CAGR||9% (2021 - 2028)|
|Historical Data||2019 & 2020|
|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||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|
|Key Market Opportunities||Growth in automotive sales|
|Key Market Drivers||Increasing demand from aerospace industries|
Prepreg Market is predicted to grow at 9% through forecast period of 2021-2028.
The forecast period for Prepreg Market research report is 2020-2027.
Global Prepreg Market is dominated by APAC region.