Global Prepreg Market Size, Share and Global Outlook 2022-2030

According to a new market research report published by Inkwood Research, the Global Prepreg Market is estimated to register a CAGR of 9.48% in terms of revenue, and 8.11% in terms of volume, during the forecasting years of 2020-2028.
''Browse 61 Market Data Tables and 47 Figures spread over 240 Pages, along with an in-depth TOC on the Global Prepreg Market Forecast 2020-2028.''

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Prepregs are composite materials that offer unique properties, since they are manufactured by curing under high temperatures and pressures. It provides consistent properties and consistent fiber/resin mix and complete wet out. Its advantages include higher specific stiffness, corrosion-resistant, faster manufacturing, and specific strength. The products made of prepreg materials provide higher fiber volume fraction in comparison to those made of filament winding and pultrusion.

Increasing Use of Prepregs in the Aerospace sector Boosts Market Growth
The increasing application of prepregs in the aerospace sector is driving its market growth. The aircraft sector is introducing a large number of new and larger commercial aircraft. The aircraft manufacturers are focusing on weight reduction and fuel-efficiency, which boosts the demand for carbon fiber prepregs that offer lightweight and high strength properties. Prepregs are further used to replace the metal components in the manufacture of interior and exterior structures in the aerospace industry. For instance, the use of composites in the Airbus 350 and Boeing 787 has resulted in weight reduction by 20%, and is further expected to provide a 25% improvement in terms of fuel consumption. Prepregs are also used to replace corrosion-prone aluminum parts in the humid interior sections of luxury planes, reducing the risk of airplane skin corrosion.
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Carbon Fiber Dominates with the Largest Revenue Share
Carbon fiber impregnated prepregs have excellent mechanical and structural properties. The use of carbon fiber results in high tensile strength and elasticity in composites, including prepreg. The tensile strength of carbon fibers is approximately 10 times higher than that of iron. The weight of prepreg is reduced considerably with the use of carbon fiber in comparison to its glass-fiber based counterparts. The growing need for lightweight and fuel-efficient aircraft has boosted the demands for carbon fiber-based prepreg in the aerospace industry. Prepregs made of carbon fiber are thermally and chemically stable. Several advantageous properties of carbon fibers have resulted in increased demands with regard to prepreg production. They are extensively used in sporting goods like golf club shafts, tennis racket frames, fishing rods, etc.

Asia Pacific - The Leading Region in Terms of Highest CAGR
The Asia Pacific region is projected to grow at a rapid pace, thereby registering the highest CAGR, both in terms of volume and revenue, during the forecast period. The rising focus on industrialization, development, and the flourishing automotive industry in the ASEAN countries, China, and India, are expected to boost the demands for prepreg in the region. The advancements in the aerospace, wind energy, and aviation industries, are the major drivers of market growth of the region. China is recording rapid growth with the presence of 200 small aircraft manufacturers.
The major market players having their presence in the market include, Toray Industries Inc, Gurit Holding AG, Royal Ten Cate NV, SGL Carbon SE, Hexcel Corporation, etc. The threat of rivalry is projected to be high, and the competition is set to be intense among the global and domestic vendors of the market.

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