Prepreg Market Research Report—Global Forecast till 2030

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 2030

ID: MRFR/CnM/9099-HCR | September 2022 | Region: Global | 185 Pages         

Prepreg Market

the market is growing with a CAGR of 10.70% in the forecast period of 2020 to 2027 and is expected to reach USD 21.02 Billion by 2027

Segmentation

By Fiber Reinforcement Carbon Fiber Prepreg Glass Fiber Prepreg Aeamid Fiber Prepreg Other
By Application Aerospace & Defense Wind Energy Automotive Sporting Goods Electronics Other

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

Drivers

  • Increasing demand from aerospace industries
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Prepreg Market Overview


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.


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.


Recent Development

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.


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   2030: USD 10 Billion
  CAGR   9% (2021 - 2028)
  Base Year   2021
  Forecast Period   2022-2030
  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


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Frequently Asked Questions (FAQ) :

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.