Prepreg Market | Key players operating in the market include Solvay Group, Hexcel Corp, Toray Industries, Teijin Ltd, Mitsubishi Chemical

According to recent market research the "Prepreg Market by Fiber Type (Glass, Carbon, Others), By Resin Type (Thermoset, Thermoplastic), Form (Tow, Fabric), Manufacturing, Application ( Aerospace & Defense, Wind Energy, Sporting Goods, Automotive) and Region - Global Forecast 2026", The global prepreg market size is estimated at USD 7.0 billion in 2021 and is projected to reach USD 12.6 billion by 2026, at a CAGR of 12.5%. Prepreg is being used in the aerospace & defense, wind energy, automotive, sporting goods, electronics and other end-use industries. The increasing wind energy projects and demand of lightweight material from automotive industry support the demand for prepreg in the wind energy and automotive end-use industry.

Browse 282 market data Tables and 62 Figures spread through 267 Pages and in-depth TOC on "Prepreg Market - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/prepreg-market-56131284.html

The carbon fiber prepregs find wide applications in various end-use industries. Carbon fiber prepregs are used in automotive, sporting goods, and leisure items such as vehicles (motorcycle) rim and integral spokes structural components. The use of carbon fiber prepregs in these applications provides 40-50% weight reduction over their conventional aluminum counterparts.

The COVID-19 pandemic resulted in a decline in industrial activities in the first half of 2020 across the globe. It resulted in reduced demand for prepreg from various end-use industries.
Thermoset prepreg is the leading resin type in the overall prepreg market. They are used in several applications in the wind energy, electronics, and sporting goods industries. Epoxy, BMI, and polyamide are the widely used thermoset resins in the aerospace & defense application due to their toughness, high strength, moisture absorption resistance, high-performance properties, and ability to survive high-temperature conditions. Thermoset prepregs are used in industries such as aerospace & defense, wind energy, and automotive.

On the other hand, the processing cost of thermoplastic is high for various applications in different end-use industries, which makes them expensive. Since thermoplastic prepregs are easy to remold, reform, and reuse, companies are investing in R&D for the mass production of thermoplastic prepregs to reduce the cost. This is expected to drive the market for thermoplastic prepregs during the forecast period.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=56131284

The global prepreg market size is estimated at USD 7.0 billion in 2021 and is projected to reach USD 12.6 billion by 2026, at a CAGR of 12.5%. Prepregs are being used in different end use industries such as: aerospace & defense, wind energy, automotive, sporting goods, electronics, and other industries. The increasing demand of wind energy as a renewable energy, drives the demand for prepreg. However, due to the outbreak of COVID-19, there was a dip in the demand of prepreg. Due to the lockdown scenario in Europe and North America, the demand for prepreg from wind energy, construction, automotive, electronics and other industries was declined sharply in the first half of 2020.

Stringent regulations and rules are imposed on the automotive industry to reduce CO2 emissions, which have adverse effects on the global climatic conditions. This encourages the industry to move toward fuel-efficient vehicles, which can contribute to reducing greenhouse gases (GHG). Glass fiber-reinforced polymer (GFRP) and carbon fiber-reinforced polymer (CFRP) are substitutes for aluminum and steel in the automotive sector. Carbon fiber and glass fiber prepregs are lighter than traditional steel by about 50-70% and 15-20%, respectively. The weight of a car can be reduced by 60% by using these prepreg parts. It is observed that a 10% reduction in vehicle weight increases fuel efficiency by 5%. The use of carbon fiber prepregs can result in 30% fuel efficiency compared to steel. However, Major players are working to reduce the manufacturing cost of carbon fiber prepregs. According to a research study, if a car runs 174 thousand miles during its life span, a car made of steel will consume ~8,707 gallons of fuel, whereas a car made from prepreg will consume ~6,698 gallons, saving roughly over 2,009 gallons of fuel. Apart from providing lightweight structures, prepregs provide benefits such as excellent mechanical properties, low temperature cures, and longer life.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=56131284

Toray Industries, Inc. and Solvay SA are two of the major players in the segment. Toray Industries, Inc. is a multinational corporation that specializes in industrial products having applications in organic synthetic chemistry, polymer chemistry, and biochemistry. The company is currently the largest producer of carbon fiber in the world and synthetic fiber in Japan. It provides prepreg through its subsidiary, Toray Advanced Composites.

Solvay Group is one of the leading players in materials, chemicals, and solutions worldwide. The company is primarily engaged in developing, manufacturing, and selling products for agro, feed & food, automotive & aerospace, building & construction, customer goods & healthcare, oil & gas, electrical & electronics, energy & environment, mining, coatings, and industrial applications. Cytec Industries, which was acquired by Solvay SA in December 2015, included its former aerospace materials and industrial materials activities in the Advanced Materials segment and its process separation and additive technologies activities in the advanced formulations segment of Solvay SA.

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/prepreg.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/prepreg-market.asp

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.