Press release
Thermoplastic Prepreg Market is Likely to be Worth US$ 193.1 Million in 2023
Stratview Research announces the launch of a new research report on Thermoplastic Prepreg Market by End-Use Industry Type (Aerospace & Defense, Automotive, Consumer Goods, and Others), by Resin Type (PPS, PEEK, PEI, and Others), by Fiber Type (Carbon Fiber Prepreg and Glass Fiber Prepreg), by Product Form Type (Fabric Prepreg and Unidirectional Prepreg), by Process Type (Compression Molding, Injection Molding, AFP/ATL, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.This report, from Stratview Research, studies the thermoplastic prepreg market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Thermoplastic Prepreg Market: Highlights
Thermoset prepregs have been enjoying a long and marvelous history of more than four decades in the aerospace & defense industry. However, thermoplastic prepregs offer a series of advantages including faster part cycle time, recyclability, easy to fabricate, and excellent mechanical properties. Major aircraft OEMs such as Boeing, Airbus, and Gulfstream have efficaciously started utilizing the potential of thermoplastic composites from tail to wings to fuselage components in their latest aircraft. The penetration of thermoplastic composites is not likely to stop here and will rise in the future with the advancement of the material, technology, and processes. Major thermoplastic prepreg manufacturers are keenly working with tier players and OEMs to develop new applications using thermoplastic prepregs.
Thermoplastic prepregs currently account for less than 5% of the global prepreg market; however, it is likely to grow at a faster rate than the overall prepreg market in the coming five years, driven by the aerospace & defense and automotive industries. As per Stratview Research, the global thermoplastic prepreg market is projected to grow at an impressive rate over the next five years to reach an estimated value of US$ 193.1 million in 2023. Increasing production rates of thermoplastic composite rich next-generation aircraft, such as B787 and A350XWB; rising demand for lightweight recyclable parts; reduced part cycle time coupled with lower-processing cost of thermoplastic composite parts as compared to thermoset composite parts; stringent regulations regarding fuel efficiency and carbon emissions in the aerospace and automotive industries are some of the key factors that are burgeoning the demand for thermoplastic prepregs globally.
Aerospace & defense is projected to remain the most dominant segment of the market during the forecast period. Increasing production of commercial aircraft coupled with an increase in penetration of thermoplastic composites, especially in composite-rich aircraft programs, such as B787 and A350XWB is likely to fuel the growth of the segment in the coming years. Clips and cleats used in fuselage are the major applications of thermoplastic prepreg in these aircraft programs.
Based on the resin type, PPS dominates the market and is expected to maintain its dominance during the forecast period as well. It has good dimensional stability even at elevated temperatures and in harsh chemical environment. The resin system also has the advantage of molding complex parts easily and with tight tolerance. It also finds usage in various aircraft applications, especially in airframe. The aircraft industry is also showing a sheer interest in PEEK-based thermoplastic prepregs.
Carbon fiber is projected to remain the larger segment of the market during the forecast period. The fiber offers numerous advantages, such as excellent weight reduction, high strength-to-weight ratio, high tensile and compressive strength, low coefficient of thermal expansion, and high fatigue resistance but at a very high cost. Major thermoplastic composite applications in an aircraft, such as clips and cleats, are fabricated with carbon fiber-based thermoplastic prepreg.
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Compression molding is the most dominant process type in the global thermoplastic prepreg market. The process offers faster part cycle time, reduced part wastage, and reduced defects, which overall leads to a lower part cost. However, AFP/ATL is likely to be the fastest-growing process type during the forecast period, driven by an increasing demand for an automated process that can layup prepreg at a faster rate than the manual layup process and generates low void content.
Based on regions, Europe is expected to remain the largest market for thermoplastic prepregs in the near future. Airbus is one of the major consumers of thermoplastic prepregs in Europe. North America accounted for the second largest share in the thermoplastic prepreg market and is expected to maintain its position in the coming five years as well. Boeing and Gulfstream Aerospace are the major OEMs, which are likely to drive the demand for thermoplastic composite parts in the region.
Key thermoplastic prepreg manufacturers include Cytec Solvay Group, Koninklijke TenCate nv, Lanxess A.G, SABIC, and Teijin Group (Toho Tenax). Some of the major end-users include Airbus, Boeing, Gulfstream Aerospace, Dassault Aviation, Lenovo, and Hewlett-Packard (HP). Formation of long-term contracts, application development, and development of innovative products are some of the key strategies adopted by the major players in order to gain a competitive edge in the market.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
Market structure: Overview, industry life cycle analysis, supply chain analysis
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Emerging trends
Strategic growth opportunities for the existing and new players
Key success factors.
This report studies the global thermoplastic prepreg market and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the six ways in which the market is segmented:
By End-Use Industry Type:
Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Consumer Goods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Resin Type:
PPS (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
PEEK (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
PEI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Fiber Type:
Carbon Fiber Thermoplastic Prepregs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Glass Fiber Thermoplastic Prepregs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Product Form Type:
Fabric Prepregs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Unidirectional Prepregs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Process Type:
Compression Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Injection Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
AFP/ATL (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Other (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Region:
North America (Country Analysis: the USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, the UK, and Rest of Europe)
Asia-Pacific (Country Analysis: China, India, Japan and Rest of Asia-Pacific)
Rest of the World (Sub-Region Analysis: Middle East, Latin America, and Others)
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
Category: Advanced Material
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Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life
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