Bismaleimide (BMI) Prepreg Market Overview, Scope and Advancement Outlook till 2027

Bismaleimide (BMI) Prepreg Market: Overview

• Bismaleimide offers high-strength, high-temperature performance, particularly when used as a matrix resin in fiber-reinforced prepregs. Prepreg composite materials include a fiber layer, a prepreg resin composed of bismaleimide, a thermoplastic toughening agent, and a resin distribution stabilizer.

• A bismaleimide (BMI) prepreg has high Tg (glass-transition temperature), which can be useful across all major structural parts in the aerospace & defense industry. It offers good mechanical performance, toughness, robust tooling, and durability with an excellent surface finish.

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Key Drivers of Global Bismaleimide (BMI) Prepreg Market

• Sales of F-35 by Lockheed Martin increased by 40% in 2017. The company is planning to increase its annual deliveries from 66 aircraft in 2017 to 160 aircraft by 2023. Increasing sales of aircraft are boosting the global BMI prepreg market.
• Production of composite-rich military aircraft, especially Lockheed Martin’s F-35, is increasing. An F-35 aircraft is composed of composites, which account for around 35% of its structural weight. A BMI prepreg is the most common prepreg employed to fabricate composite parts of F-35.

• BMI prepregs are used in the manufacture of high-temperature-resistant composite materials, which can replace metals in applications wherein the most critical need is to withstand extreme temperature conditions and harsh environments. Bismaleimide (BMI) prepregs can operate at a temperature of 350°C or above and they can be used in a wide array of high-temperature applications such as tooling, engine nacelles, compressor fairing, thrust reversers, automotive racing components, radomes, and missile propulsion systems.

• Increase in the adoption of BMI prepregs in the commercial aircraft industry is also driving the demand for these prepregs. Major OEMs are closely working with engine manufacturers to develop fuel-efficient aircraft so as to meet airline requirements. This leads to the development of high-thrust engines, which generate a higher amount of heat. Thus, aircraft manufacturers are incorporating advanced materials in the manufacture of aircraft, such as BMI prepregs, with the objective of making aircraft light in weight and making it withstand extreme temperatures. These factors are anticipated to boost the global BMI prepreg market during the forecast period.

Aerospace & Defense End-use Industry Segment Held a Major Share in 2018

• The aerospace & defense end-use industry segment is expected to account for a major share of the global bismaleimide prepreg market during the forecast period, due to increased production of aircraft by Boeing and Airbus. According to The Teal Group, global aircraft production is anticipated to increase from US$ 164 Bn in 2017 to US$ 218 Bn by 2022.

• Increasing production of the fifth-generation military fighter aircraft i.e. F-35 is likely to boost the demand for BMI prepregs in the near future. Epoxy prepregs cannot be used in hot zones such as areas in the vicinity of engine. On the other hand, bismaleimide prepregs can be used at temperatures of up to 200°C.

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Asia Pacific to Hold a Major Share of Global Bismaleimide (BMI) Prepreg Market

• North America is expected to hold a key share of the global BMI prepreg market during the forecast period, driven by presence of various aircraft OEMs and aero engine manufacturers, tier players, prepreg manufacturers, and raw material suppliers in the region. Lockheed Martin is planning to open a new manufacturing facility for F-35 aircraft in Pinellas Park, Florida (the U.S.) so as to raise its existing production rate. This is expected to drive the demand for BMI prepregs in the region during the forecast period.

• In terms of demand, North America is followed by Europe and Asia Pacific. Europe is likely to offer immense growth opportunities to the bismaleimide prepreg market during the forecast period. Dassault Aviation, BAE Systems, and Airbus Group are some of the key OEMs operating in Europe, which are driving the demand for BMI prepregs in the region.

• The market in Asia Pacific is likely to expand at a rapid pace during the forecast period, driven by a range of factors including increasing demand for commercial aircraft to support rising passenger traffic in the region. Opening of assembly plants by Boeing and Airbus in China, upcoming launch of indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ), and increasing aircraft fleet size are fueling the bismaleimide prepreg market in the country.

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Key Players Operating in Market

The global bismaleimide (BMI) prepreg market is highly fragmented, with the top manufacturers accounting for approximately 45%–50% share of the global market. Key players operating in the global bismaleimide (BMI) prepreg market are:

• Renegade Materials Corporation
• Koninklijke Ten Cate BV
• Solvay
• Hexcel Corporation
• MITSUBISHI MOTORS CORPORATION
• GMS COMPOSITES

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