Prepreg Market Product Segmentation & Strategy Framework, Prospects 2031

Allied Market Research published a report, titled, "Prepreg Market by Fiber Type (Carbon, Glass, Aramid), by Resin Type (Thermoset, Thermoplastic), by Manufacturing Process (Hot-Melt, Solvent Dip), by End User Industry (Aerospace & Defense, Automotive, Wind Energy, Sporting Goods, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global prepreg industry generated $6.3 billion in 2021, and is anticipated to generate $16.1 billion by 2031, witnessing a CAGR of 9.9% from 2022 to 2031.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/11836

Prime determinants of growth

There is a growing demand for lightweight materials in several industries such as aerospace, automotive, and wind energy. The wind energy sector, in particular, is experiencing significant growth as nations aim to reduce their carbon footprint. The use of prepregs in wind turbine blades is becoming more prevalent as these blades become more advanced and larger, which is driving up demand for prepregs. Furthermore, advancements in manufacturing processes and new technologies are fueling the expansion of the global prepreg market. On the other hand, several technical challenges faced during the manufacturing of prepregs impede the growth to some extent. However, the rise in demand for carbon fiber-reinforced plastic (CFRP) has paved the way for lucrative opportunities in the industry.

Report Coverage & Details:

Report Coverage

Details

Forecast Period

2022-2031

Base Year

2021

Market Size in 2021

$6.3 billion

Market Size in 2031

$16.1 billion

CAGR

9.9 %

No. of Pages in Report

500

Segments covered

Fiber Type, Resin Type, Manufacturing Process, End User Industry, And Region.

Drivers

The broad scope of prepreg applications

Rising demand from the automotive industry

Implementation of enhanced production control strategies by the key players in the industry

Opportunities

High processing and manufacturing cost

Restraints

Rising demand for lightweight vehicles

Covid-19 Scenario

The COVID-19 pandemic has had a mixed impact on the global prepreg market. The temporary closure of composite manufacturing firms during the lockdown led to a decline in demand.
However, there was a surge in demand for prepreg materials in the medical industry due to the production of PPEs as well as medical equipment requiring lightweight and durable
materials.

The carbon fiber segment to maintain its leadership status throughout the forecast period

Based on fiber type, the carbon fiber segment held the highest market share in 2021, accounting for more than four-fifths of the global prepreg market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment would also cite the fastest CAGR of 9.93% during the forecast period. Carbon fiber prepregs are lightweight and easy to fabricate and hence, used by major aerospace companies to manufacture combat, commercial, and cargo transport aircraft.

Procure Complete Report (350 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3KJukN4

The thermoset segment to maintain its leadership status throughout the forecast period.

Based on resin type, the thermoset segment held the highest market share in 2021, accounting for nearly three-fourths of the global prepreg market revenue and is expected to dominate throughout the forecast period. The same segment would also showcase the fastest CAGR of 9.91% during the forecast period. This is because thermoset prepregs offer high strength-to-weight ratios, making them a popular choice in applications where weight reduction is critical, such as aerospace and automotive industries.

The hot-melt segment to maintain its lead position during the forecast period

Based on manufacturing process, the hot-melt segment accounted for the largest share in 2021, contributing to nearly three-fourths of the global prepreg market revenue, and is projected to maintain its lead position during the forecast period. The same segment would also portray the fastest CAGR of 9.9% from 2022 to 2031. Environment-friendly production and no requirement of organic solvent for solvent coating as well as drying are the major factors driving the growth of this segment.

The aerospace and defense segment to maintain its lead position during the forecast period

Based on end user industry, the aerospace and defense segment accounted for the largest share in 2021, contributing to nearly two-fifths of the global prepreg market revenue, and is projected to maintain its lead position during the forecast period. Prepregs are known for their high strength-to-weight ratio, which makes them ideal for aerospace and defense applications where weight savings are important.

North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global prepreg market revenue and is likely to dominate the market during the forecast period. This is due to the increasing demand for lightweight and fuel-efficient materials in the aerospace and automotive industries. Europe, on the other hand, would showcase the fastest CAGR of 10.13% from 2022 to 2031.

Leading Market Players: -

AXIOM MATERIALS, INC.
HEXCEL CORPORATION
GURIT
SGL CARBON
SOLVAY
TEIJIN CARBON EUROPE GMBH
MITSUBISHI CHEMICAL CORPORATION
TORAY COMPOSITE MATERIALS AMERICA, INC.
SUNREZ CORPORATION
ISOLA GROUP
The report provides a detailed analysis of these key players in the global prepreg market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/prepreg-market/purchase-options

Contact:
David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

This release was published on openPR.