Prepreg Market is Forecasted to Reach US$ 5.7 Billion in 2026, Says Stratview Research

The global prepreg market is projected to witness a growth rate of 8.4% annually from 2021 to 2026, with an anticipated size of US$ 5.7 billion by 2026, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global prepreg market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:
Market Size in 2020: US$ 3.8 billion
Market Size in 2026: US$ 5.7 billion
Growth (CAGR): 8.4% during 2021-2026
Leading Resin Type: Thermoset Prepreg
Leading Product Type: Epoxy Prepreg
Leading Curing Type: Autoclave
Leading Region: North America
Forecast Period: 2021-2026
Trend Period: 2015-2019
Base Year: 2020
Number of Segments Covered: 7
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Prepreg Market:
The global prepreg market is segmented based on end-use industry type, resin type, form type, fiber type, curing type, product type, and region.

Based on resin type - We have segmented the market as thermoset prepreg and thermoplastic prepreg. Thermoset prepreg is anticipated to capture the lion's share in 2020, maintaining its incontestable dominance till 2026. Thermoplastic prepregs, on the other hand, are expected to experience faster recovery during the forecast period. Unlike thermosets, thermoplastics do not need to crosslink. They retain their plasticity, can be melted again and can be reshaped by reheating them above their processing temperatures. These characteristics offer intriguing possibilities for both faster and more innovative composite processing techniques compared to thermoset prepregs.

Based on product type - We have classified the market as epoxy, phenolic, BMI, cyanate ester, polyimide, PPS, PEEK, PEI, and other prepregs. Epoxy prepreg is expected to remain the largest segment, whereas PPS and PEEK are likely to be the fastest-growing segments during the forecast period. Epoxy offers numerous favorable properties such as high chemical resistance, high durability, excellent corrosion resistance, good electrical insulation properties, the ability to cure over a wide range of temperatures, and excellent fatigue strength. PPS, PEI, and PEEK polymers offer excellent thermal stability for high-temperature applications which is a critical property in several military, aeroengine, and supersonic business jet programs where aero-frictional heating can generate continuous service temperatures beyond the capabilities of the high-temperature epoxy resin system.

Based on curing type - The market is segmented as autoclave, out-of-autoclave, and others. Autoclave is likely to remain the supreme curing type till 2026, whereas out-of-autoclave is expected to heal at the fastest rate during the pandemic. The autoclave process provides a gamut of advantages, excellent part strength with low void content, and greater part consolidation. The market is experiencing a gradual shift of interest towards out-of-autoclave prepreg owing to its substantial cost-savings.

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is anticipated to rebound quickly to maintain its vanguard in the market during the forecast period. This growth outlook is majorly attributed to the following-
- Driven by the presence of leading aircraft and automotive OEMs, aero-engine manufacturers, tier players, prepreg manufacturers, and raw material suppliers. The USA remains the growth engine of the region's market.

Likewise, Asia-Pacific is expected to show early signs of recovery, expecting to log the fastest recovery in the post-pandemic market scenario, driven by thrust-bearers: China, Japan, and India. Opening of assembly plants of Boeing and Airbus in China, upcoming indigenous commercial aircraft (COMAC C919), rising aircraft fleet size, increasing military spending by countries such as China and India, and dominance of the region in the consumer goods, automotive, construction, and wind energy are likely to rejuvenate the region's prepreg demand in the long-term.

Prepreg Market Drivers:

Some of the key drivers listed in the report are given below.
In the aerospace industry, prepregs are increasingly being used owing to their advantages such as weight reduction, ease of use, low void content, exceptionally low thermal expansion of coefficient, and control of laminate thickness. In the aerospace industry, epoxies are used for highly loaded parts and supreme toughness, BMI systems for high-temperature performance, phenolics for fire, smoke, and toxicity performance in aircraft interiors, and cyanate esters for space structures and satellite applications.

Top Companies in the Prepreg Market:

Stratview Research has identified the following companies as the top market players (arranged alphabetically).
• Celanese Corporation
• Gurit Holdings, AG
• Hexcel Corporation
• Mitsubishi Chemical Carbon Fiber and Composites, Inc. (MCCFC)
• Park Electrochemical Corp.
• SGL Group SE
• Solvay S.A.
• Teijin Group
• Toray Industries, Inc.

What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the market, answering critical questions like
- How big is the sales opportunity?
- Which regions offer the best sales opportunities?
- Which are the most attractive market segments?
- Which are the top players and their market positioning?
- How complex is the business environment?
- What are the factors affecting the market?
For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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