The Market of Thermoplastic Prepreg to grow beyond US$ 2,052.1 million by 2024

The new report of Stratview Research analyses the Thermoplastic Prepreg Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards

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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 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. 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 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. The resin system also has the advantage of molding complex part easily and with a tight tolerance. Also, the resin type finds usage in various aircraft applications, especially in aircraft 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. 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. Major thermoplastic composite applications in an aircraft, such as clips and cleats, are fabricated with carbon fiber-based thermoplastic prepreg.

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. The product type is also considered suitable for aircraft structural applications requiring high strength in one direction.

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. The process offers a faster part cycle time, reduced part wastage, and reduced defects, which overall lead to a lower part cost. AFP/ATL is likely to be the fastest-growing process type during the same 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 the Airbus assembly plants to fulfill its current and future requirements of composite parts made with thermoplastic prepregs.

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.

Market 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.

Comprehensive Market Coverage
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This release was published on openPR.