BMI Prepreg Market to Witness 7.8% CAGR over the Next Five Years

Stratview Research has launched a research report on BMI Prepreg Market.The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of BMI Prepeg market from 2018 to 2023.

This 206 page report is segmented in five ways to provide a 360 degree holistic view. The segments are –
· By End-Use Industry Type (Aerospace, Defense and Others),
· By Application Type (Tooling, Airframe, Nacelle and Others),
· By Reinforcement Type (Unidirectional and Fabrics),
· By Curing Type (Autoclave, Out of Autoclave, and Others), and
· By Region
o North America (Country Analysis: The USA, Canada, and Mexico)
o Europe (Country Analysis: France, Germany, the UK, Spain, Russia, and Rest of Europe)
o Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
o Rest of the World (Country Analysis: Latin America, the Middle East, and Others)

Stratview Research, has presented the study of BMI 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.
Major BMI prepreg companies are GMS Composites, Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites (MCCFC), Renegade Materials Corporation, Solvay S.A., and Koninklijke TenCate nv.

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Excellent performance in high temperature applications
Composite materials have been witnessing the most disruptive journey especially in the aerospace & defense industry where the penetration of advanced composites has reached up to 53% of the structural weight in the next-generation aircraft programs, such as A350XWB. the usage of composite materials in some applications, such as nacelles, missile radome, and aircraft propulsion system, is still limited, because composite parts tend to degrade when exposed to extreme heat. This factor propelled the industry to develop high-temperature-resistant composite materials, which can replace metals from those applications where withstanding extreme heat and harsh environmental conditions are most critical. Among all, the most renowned development is Bismaleimide (BMI) prepreg, which can operate at temperatures reaching 350°C and above and can be used in a wide array of high-temperature applications, such as tooling, engine nacelles, compressor fairing, thrust reverser, automotive racing components, radomes, and missile propulsion system.

Composite-rich military aircraft to influence the growth factor
As per Stratview Research, the global BMI prepreg market is likely to grow at an excellent CAGR of 7.8% over the next five years. Growth of BMI prepreg would be higher than the overall prepreg market (7.8% vs 5.9%) over the next five years. There is a wide array of factors which are directly or indirectly stimulating the growth BMI prepregs. One of the biggest factors is increasing production of composite-rich military aircraft, especially Lockheed Martin’s F-35. F-35 aircraft constitutes roughly 35% composites of its structural weight. Carbon/BMI or carbon/epoxy are the most common prepregs used to fabricate composite parts of F-35.

Aerospace and defense to remain the most dominant sector
Aerospace industry is likely to remain the most dominant segment of the market during the forecast period. Increasing production rates of the fifth- generation military fighter aircraft F-35 (Joint Strike Fighter) is likely to give an impetus to the demand for BMI prepreg in the segment in the coming years. Lockheed Martin announced that it increased the deliveries of F-35 by 40% in 2017 than the previous year. The company is likely to further increase its annual deliveries from 66 aircraft in 2017 to an expected delivery of 160 aircraft in 2023.

Tooling to remain most dominant application
Based on the application type, tooling is likely to remain the most dominant application of the BMI prepreg market over the next five years. BMI prepreg, in tooling application, serves high Tg (glass transition), which can be used across all the major structural parts in the aerospace & defense industry. It offers good mechanical performance, toughness, robust tooling, and durability with an excellent surface finish.

Out-of-autoclave to witness healthy growth
Autoclave is projected to maintain its dominance in the market. Aircraft primary structures, such as wings, fuselages, and empennage components, are mostly fabricated by using composite materials and cured through an autoclave. High pressure of an autoclave ensures good mechanical properties and helps reduce void contents. Out-of-autoclave curing type is also likely to witness healthy growth rate during the forecast period.

North America to remain the largest market
North America is projected to remain the largest market for BMI prepreg during the forecast period, driven by the presence of world’s leading aircraft OEMs, aeroengine manufacturers, tier players, prepreg manufacturers, and raw material suppliers. Europe, another major market, is also projected to create favourable growth opportunities during the forecast period. Dassault Aviation, BAE Systems, and Airbus Group are some of the key OEMs, which are driving the demand for BMI prepregs in the European 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.
● Research Methodology

This report studies the BMI prepreg market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
o Extensive secondary research,
o Rigorous primary interviews with more than 15 industry stakeholders across the value chain.
o Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
o More than 700 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

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