BMI Prepreg Market likely to grow at an impressive CAGR 7.8% by 2023, as estimated by Stratview Research

Stratview Research in its recent report has offered an overlook of the current BMI Prepreg Market scenarios and has also estimated the BMI Prepreg Market to grow at an impressive CAGR 7.8% by 2023. The insights highlighted in the report are based on data that is carefully collected from reliable sources and is then scrutinized to have a proper analysis.
Not only the report offers the market size but also details about the market segmentation with its share. Stratview Research also extends its research to offer a forecast of the market during the period of 2018 – 2023, to provide the clients with base knowledge of the market and make strategies to have beneficial results ahead.

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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.
This factor has propelled the industry to develop high-temperature-resistant composite materials which can replace metals in applications where withstanding extreme heat and harsh environmental conditions is the most critical need. Among all, the most renowned development is Bismaleimide (BMI) prepreg, which can operate at temperatures reaching 350°C or above and can be used in a wide array of high-temperature applications, such as tooling, engine nacelles, compressor fairing, thrust reverser, automotive racing components, radomes, and missile propulsion system.
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.

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The global BMI prepreg market is segmented based on the end-use industry type as aerospace, defense, and others. Aerospace is likely to remain the most dominant segment of the global BMI prepreg market during the forecast period. Increasing production rates of the fifth- generation military fighter aircraft F-35 (Joint Strike Fighter) is likely to give an impetus to the demand for BMI prepreg in the segment in the coming years. Lockheed Martin announced that it increased the deliveries of F-35 by 40% in 2017 than the previous year. The company is likely to further increase its annual deliveries from 66 aircraft in 2017 to an expected delivery of 160 aircraft in 2023.
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.
Based on the curing type, the autoclave is projected to maintain its dominance in the market over the next five years. Aircraft primary structures, such as wings, fuselages, and empennage components, were mostly fabricated by using composite materials and cured through an autoclave. High pressure of autoclave ensures good mechanical properties and helps reduce void contents. The segments of out-of-autoclave and others are also likely to witness healthy growth rates in the market during the forecast period.
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.

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Highlights of the Report:
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.
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. Development of prepreg system, which can withstand extremely high temperature with ease of manufacturing processes; reduced operational cost; and formation of strategic alliances are some of the key strategies adopted by the players to gain a competitive edge in the market.

Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The BMI Prepreg Market analysis report discusses the following heads in great detail:
• 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

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