According to a new market report published by Lucintel, the future of the global prepreg market looks promising with opportunities in commercial aerospace, military/defense, general aviation, space/satellite, sporting goods, marine, wind energy, automotive, and civil engineering industries. The global prepreg market is expected to reach an estimated $6.4 billion by 2024 with a CAGR of 4.6% from 2019 to 2024. The major drivers for this market are growing demand for high performance composite materials and the replacement of metals with composites in different end use industries.
In this market, fiber (glass fiber, carbon fiber, aramid fiber) and resin (epoxy, BMI, phenolic, Cynate Ester) are the major raw materials used for manufacturing of thermoset and thermoplastic prepreg. Lucintel forecasts that thermoset prepreg will remain the largest market due to its wide usage in aerospace/defense, wind energy and automotive end use industries. Lucintel predicts that thermoplastic prepreg is expected to witness the highest growth during the forecast period due to increasing demand thermoplastic resin based composite materials.
Within the global prepreg market, commercial aerospace will remain the largest end use industry by value and volume due to increasing demand for lightweight materials in new aircraft programs, such as Boeing 787 and Airbus A350. Automotive is expected to witness highest growth over the forecast period due to the growing usages of lightweight and high performance materials.
By reinforcement type, carbon fiber reinforced prepreg is expected to remain the largest segment by value and glass fiber reinforced prepreg by volume over the forecast period. By resin type, epoxy based prepreg is expected to remain the largest segment by both value and volume. The growing use of high performance composite materials in the end use industries is likely to drive the consumption of epoxy based prepreg over the forecast period.
North America is expected to remain the largest market for prepreg due to growing demand for high performance lightweight materials from the end use industries. Europe is expected to witness the highest growth rate during the forecast period due to the anticipated growth in the aerospace and automotive industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of bio based products and increasing focus on thermoplastic resin based composites. Hexcel, Cytec Solvay Group, Toray, TenCate, Gurit, and Mitsubishi Rayon Corporation are among the major suppliers of prepreg.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global prepreg market by end use industry, weave type, manufacturing technology, type of prepreg, reinforcement, resin, and region, and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Prepreg Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategies as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global prepreg market by end use industry, weave type, manufacturing technology, type of prepreg, reinforcement, resin, and region, as follows:
By end use Industry [Volume (M lbs) and $M shipment analysis from 2013 to 2024]:
• Commercial Aerospace
• General Aviation
• Sporting Goods
• Wind Energy
• Civil Engineering
By Type of Prepreg [Volume (M lbs) and $M shipment analysis from 2013 to 2024]:
• Thermoset Prepreg
• Thermoplastic Prepreg
By reinforcement type [Volume (M lbs) and $M shipment analysis from 2013 to 2024]:
• Carbon fiber
• Glass fiber
• Aramid fiber
By resin type [Volume (M lbs) and $M shipment analysis from 2013 to 2024]:
• Cynate Ester
By Weave Type [Volume (M lbs) shipment analysis for 2013 to 2024]:
• UD prepreg
• Fabric prepreg
By Manufacturing Technology [Volume (M lbs) shipment analysis for 2013 to 2024]:
• Solvent dip
• Hot melt
By region [Volume (M lbs) and $M shipment analysis from 2013 to 2024]:
• North America
• Asia Pacific
• Rest of the World
This 228-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include advanced materials reports, composite materials market report, strategic growth consulting, market research due diligence and business strategy consulting.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high-growth opportunities for the global thermoplastic composites market by end use industry (commercial aerospace, military/defense, general aviation, space/satellite, sporting goods, marine, wind energy, automotive, civil engineering, others), By Type of Prepreg (thermoset prepreg, and thermoplastic prepreg), resin type (epoxy, phenolic, BMI, cynate ester, and thermoplastics), fiber type (glass fiber, carbon fiber, and aramid fiber), By Weave Type (UD prepreg, fabric prepreg), By Manufacturing Technology (solvent dip, hot melt)and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which products segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in the last 5 years?