Thermoplastic Prepreg Market Worth US$ 193.1 million in 2023

Stratview Research announces the launch of a new research report on Thermoplastic Prepreg Market. This extensive 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.

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This Thermoplastic Prepreg Market analysis has been segmented in Six ways, keeping in mind the interest of all the stakeholders across the value chain.
• by End-Use Industry Type (Aerospace, Automotive, Consumer Goods, and Others) – Aerospace & defense is projected to remain the most dominant segment
• by Resin Type: (PPS , PEEK, PEI, and Others) – PPS resin dominates the market and is expected to maintain its dominance
• by Fiber Type: (Carbon Fiber Thermoplastic Prepregs and Glass Fiber Thermoplastic Prepregs)- carbon fiber is projected to remain the larger segment
• Product Form Type: (Fabric Prepregs, and Unidirectional Prepregs) – Unidirectional prepreg is likely to remain the larger segment
• by Process Type: (Compression Molding, Injection Molding, AFP/ATL and Other)- Compression molding is the most dominant process type
• and by Region (North America, Europe, Asia-Pacific, and RoW) – Europe is expected to remain the largest thermoplastic prepreg market

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Thermoset prepregs Insights

Thermoset prepregs have been enjoying a long and marvelous history of more than four decades in the aerospace & defense industry. 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 future with the advancement of material, technology, and processes. Major thermoplastic prepreg manufacturers are keenly working with tier players and OEMs in order 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 aerospace & defense and automotive industries. 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.

The market is segmented based on the end-use industry type as aerospace & defense, consumer goods, automotive and others. 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 resin dominates the market and is expected to maintain its dominance during the forecast period as well. PPS resin has good dimensional stability even at elevated temperatures and in harsh chemical environment. It also has the advantage of molding complex parts easily and with a tight tolerance. Also, the resin type finds usage in various aircraft applications, especially in airframe. The aircraft industry is also showing a sheer interest in PEEK-based thermoplastic prepregs.

Based on the fiber type, carbon fiber is projected to remain the larger segment of the global thermoplastic prepreg 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 very high cost. Major thermoplastic composite applications in an aircraft, such as clips and cleats, are fabricated with carbon fiber-based thermoplastic prepregs.

Based on the product form type, the global thermoplastic prepreg market is classified as unidirectional prepreg and fabric prepreg. Unidirectional prepreg is likely to remain the larger segment of the global thermoplastic prepreg market during the forecast period, owing to its low cost. The product type is also considered suitable for aircraft structural applications requiring high strength at one direction.

Based on the manufacturing process type, the market is classified as compression molding, injection molding, AFP (Automated Fibre Placement)/ATL (Automated Tape Layup), and others. Compression molding is the most dominant process type in the market. The process offers faster part cycle time, reduced part wastage, and reduced defects, which overall leads to a lower part cost. AFP/ATL is likely to be the fastest-growing process type during the forecast period, driven by 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 thermoplastic prepreg market during the forecast period. Airbus is one of the major consumers of thermoplastic prepregs in Europe. Major thermoplastic component manufacturers have set up their manufacturing plants in the region in order to be proximal with Airbus assembly plants to fulfill its current and future requirements of composite parts made with thermoplastic prepregs.

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.
The supply chain of this market comprises raw material suppliers, thermoplastic prepreg manufacturers, distributors, thermoplastic composite component manufacturers, OEMs, and MRO companies. The 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 in the thermoplastic prepreg market 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 into 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, End-User portfolio, End-User launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends of the thermoplastic prepreg market
• Strategic growth opportunities for the existing and new players
• Key success factors

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