Press release
Prepreg Market Projected to Reach USD 32 Billion by 2032, Fueled by Growing Demand from Aerospace and Military Industries for High-Strength Composite Materials
The Prepreg Market has witnessed significant growth in recent years, with a market size of USD 12.5 billion in 2022 and an expected increase to USD 32 billion in 2032, with a projected CAGR of 11% during the forecast period. The market growth is mainly driven by rising demand from aerospace and military industries, where prepregs, which are composite materials made of reinforcing fibers treated with resin systems, are widely used due to their high strength and stiffness. Other industries such as the automobile, wind energy, sports, and leisure industries also utilize prepregs. The need for lightweight materials in aerospace and military industries is a significant factor contributing to market growth. Lightweight materials can reduce aircraft weight, resulting in enhanced fuel economy and lower emissions, and advanced prepregs with excellent strength and stiffness have been developed to meet this need.To know more about the report @ https://www.reportsanddata.com/report-detail/prepreg-market
Key Players covered in this report are
Hexcel Corporation
Gurit Holding AG
Toray Industries, Inc.
SGL Carbon SE
Mitsubishi Chemical Corporation
Solvay S.A.
Teijin Limited
Axiom Materials, Inc.
Park Electrochemical Corp.
Cytec Industries, Inc.
Strategic Development:
In 2021, Hexcel Corporation announced the expansion of its Prepreg manufacturing capacity at its Salt Lake City facility to meet the growing demand for advanced composite materials in the aerospace and defense industries.
In 2020, Gurit Holding AG acquired JSB Group, a leading provider of composite materials and manufacturing services, to strengthen its position in the global Prepreg market and expand its product offerings.
In 2020, Toray Industries, Inc. announced the development of a new Prepreg material that offers excellent impact resistance and processability for use in automotive and other industrial applications.
In 2020, SGL Carbon SE launched a new range of Prepreg materials that offer high strength and stiffness, along with improved processing characteristics, for use in aerospace and other high-performance applications.
In 2021, Teijin Limited launched a new Prepreg material, Twaron PVB Prepreg, which offers excellent impact resistance and fire resistance for use in aerospace and other industrial applications.
In 2020, Axiom Materials, Inc. launched a new range of Prepreg materials, Axiom Pristine, that offer high strength and stiffness, along with improved surface finish and compatibility with a wide range of resin systems.
In 2020, Park Electrochemical Corp. launched a new range of Prepreg materials, Nelcote® E-767, that offer high strength and durability for use in aerospace and other high-performance applications.
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By Fiber Outlook
Carbon
Glass
Aramid
By Resin Outlook
Thermoset
Thermoplastic
By Manufacturing Process Outlook
Hot-melt
Solvent dip
By Application Outlook
Aerospace & Defense
Automotive
Wind Energy
Sporting Goods
Others
Key Regional Markets Covered in the Report:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Major Points covered in this report are as below:
• The Prepreg industry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.
• With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
• Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.
• The Prepreg Market report provides key statistics on the market status of the Prepreg manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
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