High-Temperature Prepreg Market projected to reach US$ 538.0 million in the forecast period (2019-2024)

Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, High-Temperature Prepreg Market is expected to inflate at impressive CAGR by the forecast period (2019-2024).

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Highlights of the Report:
The global high-temperature prepreg market is projected to grow at an impressive rate over the next five years to reach US$ 538.0 million in 2024. High-temperature prepreg currently occupies less than 1% of the total prepreg market in terms of both value and volume but is expected to witness a higher growth as compared to the overall prepreg market in the foreseen future. Major prepreg manufacturers are increasingly focusing on high-temperature prepreg in order to gain the leading position in the segment.

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Market Segments:
Based on resin type, the market is segmented as BMI prepreg, cyanate ester prepreg, polyimide prepreg, thermoplastic prepregs, and other prepregs. BMI and polyimide prepreg will act as the growth engines of the market in the foreseen future. BMI resins are extensively used in tooling prepreg applications. Furthermore, it is also gaining traction in military aircraft and commercial aircraft in applications, such as engine, airframe, nacelle, thrust reverser, and duct applications.

Polyimide resin is expected to maintain its leading position during the forecast period. Composite parts fabricated using polyimide prepreg can withstand continuous use up to 315°C (600°F) and intermittent use up to 480°C (900°F) and exhibit extremely high dimensional stability at elevated temperatures.

Based on the end-use industry type, aerospace & defense is likely to remain the most dominant segment during the forecast period. Increasing production rates of high-temperature composite rich fighter aircraft such as F-35, is likely to give impetus to the demand for high-temperature prepregs in the industry. Lockheed Martin’s F-35 is the best-selling 5th generation fighter aircraft, which incorporates high-temperature composite prepregs substantially. About 35% of the F-35 aircraft’s structural weight is composites and about 50% of which is made up of high-temperature prepregs.

Based on the curing type, autoclave curing is projected to maintain its dominance in the market over the next five years. Aircraft primary structures, such as wings, fuselages, and empennage components, are mostly fabricated by using composite materials and cured through an autoclave process. High pressure of autoclave ensures good mechanical properties and helps reduce void contents. The out-of-autoclave and other segments are also likely to witness healthy growth rates in the market during the forecast period.

In terms of region, North America is projected to remain the largest market during the forecast period, driven by the presence of 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 its high-temperature composite rich F-35 aircraft in Pinellas Park, Florida, the USA, to raise the existing production rate. There is a total un-filled order of more than 2,691 F-35 aircraft from 12 countries out of which the USA’s inventory objective is 2,456 F-35 aircraft.

Europe is projected to remain the second largest market for high-temperature prepregs during the forecast period. Dassault Aviation, BAE Systems, and Airbus Group are some of the key OEMs in the region, which are driving the demand for high-temperature prepregs in the European market.

Market Players:
The supply chain of this market comprises fiber manufacturers, resin manufacturers, prepreg machine suppliers, high-temperature prepreg manufacturers, tier players, OEMs, and airlines. The key high-temperature prepreg manufacturers include Solvay S.A., Koninklijke TenCate nv, Hexcel Corporation, Gurit Holding AG, Park Electrochemical Corporation, and Renegade Material Corporation. Development of low-cost high-temperature prepregs with ease of manufacturing process, improvement in performance, and forming strategic alliances are the key strategies adopted by the major players to gain a competitive edge in the market.

Features of the Report
Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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This release was published on openPR.