Tow Prepreg Market | Key players operating in the market include TCR Composites, SGL Carbon SE, ENEOS Holdings, Teijin Limited, Hexcel Corp

According to recent market research "Tow Prepreg Market by Resin Type (Epoxy, Phenolic), Fiber Type (Carbon, Glass), Application (Pressure Vessels, Scuba Tanks, Oxygen Cylinders), End-Use Industry, and Region (North America, Europe, APAC, MEA, & Latin America) - Global Forecast to 2026", is expected to grow from USD 250 million in 2021 to USD 440 million by 2026, at a CAGR of 12.0% during the forecast period.

Browse 254 market data Tables and 48 Figures spread through 233 Pages and in-depth TOC on "Tow Prepreg Market - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/tow-prepreg-market-73680934.html

Tow prepregs are widely used in the manufacturing of type-3 and type-4 cylinders. These cylinders offer numerous advantages over other cylinders regarding weight reduction, longer lifespan, and excellent tensile strength. A pressure vessel is primarily used in the oil & gas industry. However, since the past few years, aerospace & defense and automotive & transportation are also shifting towards the use of composite pressure vessels, which in turn is augmenting the demand for tow prepreg in the pressure vessels application.
The tow prepreg pressure vessels consist of a thin, non-structural linear wrapped in fiber composite designed to hold fluid under pressure. In the oil & gas industry, pressure vessels are used in both upstream and downstream operations. The growing use of these vessels in the oil & gas and other chemical industries is driving the market.

Oil & gas is one of the world's largest industries. Globally, in terms of value, oil & gas exports were higher than 30% of the total global exports. FRP tanks are widely used in the oil & gas industry for storage, and nowadays, tank manufacturers are increasingly manufacturing these tanks using tow prepregs through the filament winding process. These storage tanks have high strength and long life to avoid the need for early replacement. Using tow prepreg-based tanks instead of steel tanks helps increase the durability of the tank and reduces the cost of replacement. Therefore, the increasing need for pressure vessels and tanks in this industry will drive the market growth of tow prepreg market.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=73680934

Tow prepreg (also referred to as towpreg) is a form of prepreg made using continuous fibers such as carbon, glass, and others. It is generally used as a material for the filament winding process to produce composite structures. Moreover, these tow prepregs can be used in various industries, including automotive & transportation, aerospace & defense, oil & gas, industrial, and sports & recreational.

Tow prepreg offers numerous advantages over the wet winding process, making it highly useful for composite manufacturers. These are used in manufacturing pressure vessels, scuba tanks, oxygen cylinders, marine masts, leaf springs, and other components. Led by strong end-user demand, the tow prepreg industry is growing at a rapid pace. However, amidst the global COVID-19 pandemic, the demand for Tow prepreg from the above-mentioned industries is expected to show a sharp decline in 2020 from 2019. The global tow prepreg market size is projected to grow from USD 250 million in 2021 to USD 440 million by 2026, at a compound annual growth rate (CAGR) of 12.0% during the forecast period.

The major manufacturers profiled in this report include TCR Composites (US), SGL Carbon SE (Germany), ENEOS Holdings, Inc (Japan), Teijin Limited (Japan), Mitsubishi Chemical Carbon Fiber and Composites, Inc (US), Hexcel Corporation (US), Porcher Industries (France), Red Composites (England), Vitech Composites (France), Arisawa Manufacturing Co., Ltd. (Japan), Toray Industries, Inc (Japan), and 3M (US). These companies adopted various organic and inorganic growth strategies. For instance, in 2018, Hexcel officially opened a new plant in France to meet the growing demand for advanced composites. Hexcel Roussillon is the companys first integrated plant for carbon fiber and PAN precursors.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=73680934

ENEOS Holdings, Inc., formerly JXTG Holdings Inc, is a Japanese company mainly with three business segments-energy, oil and natural gas exploration and production, and metal. The energy segment is engaged in refining and selling petroleum, providing lubricants, basic chemicals, functional chemicals, gas, coals, electricity, new energy, other products, and the investment business.
The oil and natural gas development segment explore, develops, and produces oil and natural gas. The metal segment is engaged in the manufacture and sale of nonferrous metal products and processed electrical products, the development and mining of nonferrous metal resources, and the nonferrous metals recycling and industrial waste treatment business. The company is also engaged in asphalt pavement, civil engineering, construction, land transportation, real estate leasing, and financing.

Teijin Limited combines three business domains of materials, healthcare, and IT. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, films, resins & plastics processing, polyester fibers, products converting, healthcare, and IT. The company has production facilities in Japan, Germany, and the US.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/tow-prepreg.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/tow-prepreg-market.asp

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.