Thermoset Prepreg Market to reach US$ 6.8 billion 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 Thermoset 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 Thermoset 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 Thermoset Prepreg Market: Highlights
Composite materials have gained significant traction in a wide array of industries, such as aerospace & defense, automotive, wind energy, marine, construction, and consumer goods, in order to fabricate parts at a lesser time and with higher mechanical properties in comparison to traditional materials such as metal, wood, and plastics. Prepregs are gradually becoming a common material used in the fabrication of parts where ease of use, consistent properties, and high-quality surface finish are critical, such as aircraft’s fuselage and wings, wind turbine’s blades, passenger car’s passenger cell, golf shaft, and hockey sticks. Between types of prepregs, thermoset prepreg is the most common and are generally made using resin systems, such as epoxy and phenolic; reinforced with glass, carbon, or aramid fibers.

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 Resin Type : Epoxy Prepreg, Phenolic Prepreg and Others
• By End-Use Industry : Aerospace & Defense, Wind Energy and Others
• By Fiber Type : Carbon Prepreg, Glass Prepreg and Others
• By Curing Type : Autoclave, Out-of-Autoclave and Others
• By Product Type : Fabric Prepregs and Unidirectional Prepregs
• By Region : North America, Europe, Asia-Pacific, and RoW

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The Growth Prognosis & its Drivers
The global thermoset prepreg market is projected to grow at a healthy rate over the next five years to reach US$ 6.8 billion in 2024. Currently, thermoset prepreg accounts for more than 75% of the total prepreg market and is expected to remain the most dominant in the years to come, propelled by organic growth of the aircraft industry, surge in the production rate of next-gen. aircraft programs (A350XWB and B787), increasing preference towards composite parts over traditional metallic ones, development of longer and larger wind turbine blades, reduction in part cycle time, and requirement of lightweight and durable components/parts.

Market Segments
The thermoset prepreg market is segmented based on the resin type as epoxy prepreg, phenolic prepreg, BMI prepreg, cyanate ester prepreg, and polyimide prepreg. Epoxy prepreg is projected to maintain its dominance in the market over the next five years.
Based on the end-use industry type, the thermoset prepreg market is segmented as aerospace & defense, wind energy, consumer goods, marine, automotive, construction, and others. Aerospace & defense is likely to remain the growth engine of the market during the forecast period.
Based on the fiber type, the thermoset prepreg market is segmented as carbon fiber prepreg, glass fiber prepreg, and others. Carbon fiber prepreg dominated the global thermoset prepreg market in terms of value, whereas glass fiber prepreg dominated the market in terms of volume.
Based on the curing type, autoclave is likely to remain the most dominant curing type during the forecast period. Most of the composite parts for the A&D industry are cured through the autoclave process.
The out-of-autoclave segment is likely to grow at the highest CAGR over the next five years. Out-of-autoclave curing type offers the biggest advantages of low-cost production of composite parts and eliminates the investment in purchasing capital-intensive autoclaves, freezing storage, and tools.
Based on the region, North America is projected to remain the largest market for thermoset prepregs during the forecast period. The USA is the growth engine of the region’s market with the presence of a large number of OEMs, tier players, distributors, and raw material suppliers. The country is not only the largest market in North America but also in the world.
Asia-Pacific is likely to depict the highest growth during the same period, driven by China, India, and Japan. Growing penetration of composite materials including thermoset prepregs in various end-use industries is driving the extraordinary growth of the region’s market.

Players
The supply chain of this market comprises raw materials suppliers, thermoset prepreg manufacturers, tier players, distributors, and end-users/OEMs.The key thermoset prepreg manufacturing companies are Hexcel Corporation, Solvay S.A. (Cytec Industries), Toray Advanced Composites Inc., Axiom Materials, Inc., Gurit Holding AG, SGL Group, Mitsubishi Chemical Carbon Fiber and Composites Inc., Renegade Materials Corp., Park Electrochemical Corp., and Teijin Group. Execution of mergers & acquisitions, development of new applications, advancements in prepregs, and forming long term supply agreement with part fabricators are the key strategies adopted by the major players to gain a competitive edge in the market.

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