BMI Prepreg Market is Likely to Grow at a CAGR of 7.8% Over the Next Five Years

Stratview Research has launched a new research report on BMI Prepreg Market report segments the market in five ways to provide a 360-degree holistic view.
The forecast of the market has been segmented by-
• By End-Use Industry Type: (Aerospace, Defense and Others)
• By Application Type: (Tooling, Airframe and Others)
• By Reinforcement Type: (Unidirectional BMI Prepreg and Fabric BMI Prepreg)
• By Curing Type: (Autoclave-Cured BMI Prepreg and Other BMI Prepregs)
• Region
o North America
o Europe
o Asia – Pacific
o Rest of the World

The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of BMI Prepreg Market.
Years considered for this report -
• base year 2018
• trend period 2012 - 2017
• forecast period 2018 - 2023

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The Global BMI Prepreg Market: Highlights
The BMI prepreg market will continue to flourish with sizeable growth opportunities in the coming five years. It is estimated that 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.

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, in order to make the aircraft lightweight yet durable with an ultimate aim to enhance fuel efficiency. However, the usage of composite materials in some applications, such as nacelles, missile radome, and aircraft propulsion system, is still limited owing to the fact that composite parts tend to degrade when exposed to extreme heat.

There are a number of factors which are directly or indirectly stimulating the growth of the global BMI prepreg market. 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 prepreg are carbon/epoxy prepreg are the most common prepregs used to fabricate composite parts of F-35. Similarly, other military aircraft also contain a good amount of BMI prepreg in the structural section.

Another trend impacting the market is a gradual increase in the penetration of BMI prepreg in the commercial aircraft. Major OEMs are closely working with the engine OEMs and tier players to develop the fuel-efficient aircraft to meet airline demands. This is leading to the development of high-thrust engines, which generate more heat/temperature. It becomes important for the aircraft manufacturers to incorporate advanced materials in those areas with the purpose to make aircraft lightweight as well as to withstand extreme temperature.

Based on the application type, tooling is likely to remain the most dominant application 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.

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Based on regions, 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. The USA is the growth engine of the region’s market. Lockheed Martin has opened a new manufacturing facility to produce F-35 aircraft in Pinellas Park, Florida, the USA, to raise the existing production rate, which will generate the high demand of BMI prepreg in this region.

Europe, another major market, is also projected to create favorable 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.

Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus in China, upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ), rising aircraft fleet size and increasing military spending by countries such as China and India.

The supply chain of this market comprises raw material suppliers, BMI prepreg manufacturers, part fabricators, engine manufacturers, aircraft OEMs, defense OEMs, Auto OEMs, airlines, leasing companies, and MRO companies. 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.

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 market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
• Extensive secondary research,
• Rigorous primary interviews with more than 10 industry stakeholders across the value chain.
• Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
• More than 1000 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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