Prepreg market worth $12.6 billion by 2026


CHICAGO, March 30, 2022 /PRNewswire/ — According to new market research reportPrepreg market by Fiber Type (Glass, Carbon, Others), Resin Type (Thermosetting, Thermoplastic), Shape (Tow, Fabric), Manufacture, Application (Aerospace & Defense, Wind Energy, Sporting Goods, Automotive), and Region – Forecast world championships 2026″, published by MarketsandMarkets™, the global prepreg market size is estimated at $7.0 billion in 2021 and is expected to reach $12.6 billion by 2026, at a CAGR of 12.5%. Prepreg is used in aerospace and defense, wind power, automotive, sporting goods, electronics, and other end-use industries. The increase in wind power projects and the demand for lightweight materials from the automotive industry is supporting the demand for prepregs in the wind power industry and automotive end use.

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Carbon fiber prepreg represents a significant share of the prepreg market in terms of value.

Carbon fiber prepregs find many applications in various end-use industries. Carbon fiber prepregs are used in automotive, sporting goods, and hobby items such as vehicle (motorcycle) rims and spoke-integrated structural components. Using carbon fiber prepregs in these applications results in a 40-50% weight reduction over their conventional aluminum counterparts.

The COVID-19 pandemic led to a drop in industrial activities in the first half of 2020 across the world. This has resulted in reduced demand for prepregs from various end-use industries.

Thermoset prepregs account for the largest market share in the global prepregs market during the forecast period in terms of value and volume

Thermoset prepreg is the leading type of resin in the global prepreg market. They are used in several applications in the wind power, electronics and sporting goods industries. Epoxy, IMC and Polyamide are the widely used thermosetting resins in aerospace and defense applications due to their toughness, high strength, resistance to moisture absorption, high performance properties and their ability to survive high temperature conditions. Thermoset prepregs are used in industries such as aerospace and defense, wind power and automotive.

On the other hand, the processing cost of thermoplastics is high for various applications in different end-use industries, which makes them expensive. Since thermoplastic prepregs are easy to re-mold, reform and reuse, companies are investing in R&D for mass production of thermoplastic prepregs to reduce costs. This is expected to drive the thermoplastic prepreg market over the forecast period.

Cloth prepregs accounted for the largest market share in the global prepregs market based on the shape of prepregs in terms of value and volume.

The fabric prepreg form dominated the overall prepreg market in 2020 and is expected to register significant growth over the forecast period. Fabric prepregs are pre-impregnated with a resin system that already includes an appropriate curing agent. In this type of prepreg, the epoxy resin helps improve and maximize overall strength and mechanical properties.

Hot melt process accounted for the largest market share in the global prepreg market based on prepreg manufacturing process in terms of value and volume.

As the hot melt process is environmentally friendly and uses no organic solvents, it is widely used to manufacture prepregs for multiple applications. Due to less complex machinery, the hot melt process is preferred over the solvent immersion process. From an environmental perspective, this process is less hazardous because little or no organic solvents are consumed or emitted during operations. Therefore, it tends to replace the solvent immersion process.

Aerospace and defense application accounted for the largest market share in the global prepreg market during the forecast period in terms of value and volume.

The use of prepregs has steadily increased in aerospace and defense applications due to their lightweight properties and increased energy efficiency. The massive use of prepreg is well established in aerospace and defense applications, with 50% of aerospace materials being composites. Prepregs help build lightweight aircraft and facilitate more efficient structural and aerodynamic designs. They are used in secondary structures, such as fairings, seat structures, luggage racks and galley equipment. Due to the COVID-19 outbreak, major manufacturers have temporarily closed their factories during the lockdown. However, the demand is expected to recover over the forecast period.

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APAC is expected to account for the largest market share in the prepreg market over the forecast period.

APAC is the largest prepreg market by volume and is expected to maintain its lead during the forecast period. Remarkable growth in the wind power industry has boosted market expansion in the region. China lead it Asia Pacific prepreg market in the wind power industry, with 71.7 GW of new wind capacity installed in 2020. Supportive government policies, aimed at protecting economies from fossil fuel price volatility and taking measures against harmful GHG emissions, should lead the wind energy industry to Asia Pacificdriving demand for prepregs in the region. North America is the second largest consumer of aerospace and defense prepregs, and wind power are the major industries fueling the growth of the prepreg market in this region.

Key players in the prepreg market include Solvay Group (Belgium), Hexcel Corporation (United States), Toray Industries, Inc. (Japan), Teijin Limited (Japan) and Mitsubishi Chemical Holdings Corporation (Japan), are some of the key players in the prepreg market. SGL Group (Germany), Axiom Materials (United States), Gurit Holding AG (Switzerland), Park Aerospace Corp. (United States) and Plastic Reinforcement Fabrics Ltd. (UK) are among others. These companies are involved in adopting various inorganic and organic strategies to increase their presence in the prepreg market. These players have adopted different organic and inorganic development strategies over the past five years.

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