Press release
Prepreg Market Anticipated To Witness Robust Growth, Surpassing $18.24 Billion By 2029
Prepreg
What Is the Current Prepreg Market Size and Its Estimated Growth Rate?
The size of the prepreg market has shown speedy expansion in the last few years. This market is projected to inflate from $9.89 billion in 2024 to $11.2 billion in 2025, with a compound annual growth rate (CAGR) fixed at 13.2%. The significant development during the historical period was driven by factors like the expansion in aerospace and aviation sectors, the high demand for lightweight yet high-performing composites, the widened application in the automotive and wind-energy fields, the advancement in prepreg materials, safety regulations for materials, progress in composite manufacturing technology, and an escalated demand in sports and leisure equipment.
Anticipated to witness swift expansion in the coming years, the prepreg market is predicted to surge to a value of $18.24 billion by 2029, mounting at a CAGR of 13.0%. This growth during the forecast period is largely driven by factors such as the utilization of sustainable and recyclable prepreg materials, tailored prepreg solutions to cater to specific applications, increased production of electric and hybrid cars, advancements in space exploration and satellite technologies, and broader usage in the medical and healthcare sectors. Key trends during this period comprise smart and sensor-integrated prepreg composites, adherence to regulations concerning prepreg material safety, the rise of bio-based and biodegradable prepreg materials, prepreg composites enhanced by nanotechnology, and personalized prepreg answers for distinct industries.
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How Are Emerging Segments Shaping the Prepreg Market Landscape?
The prepreg market covered in this report is segmented -
1) By Type of Fiber Reinforcement: Carbon Fiber Prepreg, Glass Fiber Prepreg, Other Types
2) By Form: Tow Prepreg, Fabric Prepreg
3) By Manufacturing Process: Hot-Melt Process, Solvent Dip Process
4) By Application: Aerospace And Defense, Wind Energy, Automotive, Sporting Goods, Electronics (PCB), Other Applications
Subsegments:
1) By Carbon Fiber Prepreg: Unidirectional Carbon Fiber Prepreg, Woven Carbon Fiber Prepreg
2) By Glass Fiber Prepreg: Unidirectional Glass Fiber Prepreg, Woven Glass Fiber Prepreg
3) By Other Types: Aramid Fiber Prepreg, Hybrid Fiber Prepreg
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Which Growth Factors Are Influencing Prepreg Market Expansion?
The rise in automobile production is anticipated to drive the growth of the prepreg market. The term automotive pertains to the design, operation, manufacturing, and sale of vehicles. Prepregs are utilized for high-end applications across various industries like aerospace, defence, automotive, sports, and wind energy. For example, the International Energy Agency (IEA) reported that in 2022, the penetration rate of electric vehicles in China's domestic automotive industry jumped to 29% - a substantial rise from the preceding year's 16%. Consequently, the increasing production in the automotive industry is fueling the growth of the prepreg market.
Who Are the Dominant Players Across Different Prepreg Market Segments?
Major companies operating in the prepreg market include Axiom Materials Inc., Gurit Holding AG, Hexcel Corporation, Mitsubishi Chemical Carbon Fiber And Composites Inc., Park Aerospace Corporation, Solvay S.A., Teijin Limited, Toray Industries Inc., Plastic Reinforcement Fabrics Ltd., Rock West Composites Inc., SHD Composite Materials Ltd., GMS Composites, ACP Composites Inc., Celanese Corporation, SGL Group SE, Hanyang Corporation, Composites One, Saudi Basic Industries Corporation (SABIC), Airtech Advanced Materials Group, Isola Group, Olin Corporation, Zoltek Companies Inc., Park Electrochemical Corp., Henkel AG & Co. KGaA, Socomore, Kineco Group, Cristex, North Thin Ply Technology (NTPT)
What Are the Latest Developing Trends in the Prepreg Market?
Key advancements in technology are an emerging trend in the prepreg sector that's gaining significant traction. A main priority for prominent companies in the market is to formulate innovative tech-based solutions to solidify their standing. Take for example Solvay, a Belgium-based company in the prepreg industry, who in October 2023 launched a game-changing fast-curing epoxy prepreg technology called SolvaLite 716 FR. This technology is created for diverse structural components and reinforcements in high-end battery electric vehicles (BEVs). Featuring Solvay's unique Double Diaphragm Forming (DDF) technology, SolvaLite 716 FR is aimed at fire-resistant battery enclosure applications for luxury and ultra-luxury BEVs. It holds a dry glass transition temperature (Tg) of 145°C (293°F) and has proven to outperform aluminum and sporadic fiber composites via UL 2596 flammability tests, providing protection with just a 2mm wall thickness. Furthermore, SolvaLite 716 FR is engineered for rapid curing, evidenced by an eight-minute press cure time at 150°C (302°F), whilst also offering superior temperature and reduced cycle time capacity.
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Which Geographic Regions Are Expected to Dominate the Prepreg Market in the Coming Years?
North America was the largest region in the prepreg market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the prepreg market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Prepreg Market?
2. What is the CAGR expected in the Prepreg Market?
3. What Are the Key Innovations Transforming the Prepreg Industry?
4. Which Region Is Leading the Prepreg Market?
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Prepreg Manufacturing Process Benefits from Temperature Monitoring
dataTaker Handles High Channel Count for Heat Treatment
Plants and factories working with prepreg injection and other curing or heat treatment applications can greatly benefit from continual temperature monitoring for their prepreg manufacturing process. Curing, molding, and heat treat applications all save cost and improve product quality by using a data logger to record product temperatures. Temperature monitoring is equally applicable to monitoring phenolic, laminated material, metals and more.
A solution built…
