Thermoplastic Prepreg Market to reach US$ 223.2 million during the coming years (2019-2024)

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Thermoplastic Prepreg Market, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Thermoplastic Prepreg Market.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2019-2024.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.

The Global Thermoplastic Prepreg Market: Highlights
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: Boeing, Airbus, and Gulfstream have efficaciously started leveraging the potential of thermoplastic composites from the 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 in order to develop new applications using thermoplastic prepregs.

The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by Segments
• by End-Use Industry : Aerospace & Defense, Automotive and Others
• by Resin Type : PPS Prepreg, PEEK Prepreg and Others
• by Fiber Type : Carbon Fiber Thermoplastic Prepregs and Glass Fiber Thermoplastic Prepreg
• by Product Form Type : Fabric Prepregs and Unidirectional Prepregs
• by Process Type : Compression Molding, Injection Molding and Others
• by Region : North America, Europe, Asia-Pacific, and RoW

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The Growth Prognosis & its Drivers
Thermoplastic prepreg currently accounts 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. 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$ 223.2 million in 2024.

Market Segments
The global thermoplastic prepreg 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 global thermoplastic prepreg market during the forecast period.
Based on the resin type, PPS resin dominates the thermoplastic prepreg 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 the harsh chemical environment.
Based on the fiber type, carbon fiber is projected to remain the larger segment of the global thermoplastic prepreg market during the forecast period. Carbon 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.
Based on the product form type, the global thermoplastic prepreg market is classified as unidirectional prepreg and fabric prepreg. The unidirectional prepreg is likely to remain the larger segment of the global thermoplastic prepreg market during the forecast period, owing to its low cost.
Based on the manufacturing process type, the global thermoplastic prepreg market is classified as compression molding, injection molding, AFP (Automated Fiber Placement)/ATL (Automated Tape Layup), and others. Compression molding is the most dominant process type in the global thermoplastic prepreg market.
North America was the second-largest thermoplastic prepreg market in the world after Europe 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.

Players
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). The 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.

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This release was published on openPR.