Global Prepreg (Pre-Impregnated Composite Fibers) Market to Reach $6.9 Billion by 2026

SAN FRANCISCO, Aug. 6, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier…

SAN FRANCISCO, Aug. 6, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled «Prepreg (Pre-Impregnated Composite Fibers) – Global Market Trajectory & Analytics». The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE

Edition: 17; Released: May 2021

Executive Pool: 606

Companies: 94 – Players covered include APCM, LLC; Axiom Materials, Inc.; Gurit Holding AG; Hexcel Corporation; Holding Company Composite; Isola Group; Mitsubishi Chemical Corporation; Park Aerospace Corp; SGL Group ※ The Carbon Company; Solvay SA; Taiwan First Li-Bond Co., Ltd.; Teijin Limited; Toray Advanced Composites; Toray Industries, Inc.; Zoltek Companies, Inc. and Others.

Coverage: All major geographies and key segments

Segments: Fiber Type (Carbon Fiber Prepreg, Glass Fiber Prepreg, Aramid Fiber Prepreg); Resin Type (Thermoset, Thermoplastic); Application (Aerospace & Defense, Automotive, Wind Energy, Sporting Goods, Electronics, Other Applications)

Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Prepreg (Pre-Impregnated Composite Fibers) Market to Reach $6.9 Billion by 2026

The term prepreg is used to denote pre-impregnated composite fibers. Prepreg, a reinforcing material impregnated with a resin using a machine, is an intermediate material, which is processed into various shapes (like planks, wires, tapes, and rods). The shapes in turn serve as raw inputs to specialized parts fabricators, capable of molding and shaping the material into finished items using specialized equipment. The finished parts are subsequently sold to OEMs (original equipment manufacturers). A prepreg can therefore be considered as a combination of non-woven material, fabric, roving or mat with resin, which is generally cured to B-stage, ready for molding.

Prepregs are generally unidirectional (aligned) or are in the form of a fabric (multiaxial or woven). The resin system used is mostly an epoxy that offers a comprehensive range of properties. However, in motor sport and aerospace applications, higher performance resins such as vinyl ester and polyester systems can be used. The resin systems react quite slowly at room temperature with the chances of prepreg resins to be completely cured increasing upon their heating to a prescribed cure temperature. The accuracy of machinery that is utilized for combining fabric with resin system assures that the laminates produced through prepregs contain higher fiber and more consistent contents in comparison to the contents achieved using wet lay-up techniques. Moreover, this technology facilitates the use of strong and very tough resin systems with high viscosity.

Prepregs contain a certain quantity of matrix material used for joining the prepreg together as well as combining the prepreg with other components during their process of manufacture.

Amid the COVID-19 crisis, the global market for Prepreg (Pre-Impregnated Composite Fibers) estimated at US$5.1 Billion in the year 2020, is projected to reach a revised size of US$6.9 Billion by 2026, growing at a CAGR of 5.6% over the analysis period. Carbon, one of the segments analyzed in the report, is projected to record a 6.5% CAGR and reach US$4.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Glass segment is readjusted to a revised 4.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.3 Billion in 2021, While China is Forecast to Reach $1 Billion by 2026

The Prepreg (Pre-Impregnated Composite Fibers) market in the U.S. is estimated at US$1.3 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1 Billion by the year 2026 trailing a CAGR of 8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR.

Demand from various industries, especially automotive and aerospace, along with compelling properties of these materials will support growth in the global prepregs market. Adoption in automotive and aerospace applications is being fostered by the strong focus of companies on incorporating durable and light materials to make lightweight vehicles and push fuel efficiency. The market growth is supported by implementation of stringent regulations to improve fuel efficiency and reduce carbon emissions of vehicles, especially in Europe and North America. Based on their superior attributes such as high mechanical properties, strength and faster curing, prepregs find use in diverse applications across industries including automotive, military & defense, electronics, sporting goods and wind energy. In addition to witnessing rising demand from electronics and marine industries, these products are likely to gain from increasing adoption of lightweight materials for sports equipment. Continuing advances in electrical engineering and growing popularity of circuit boards are likely to provide a major push to the market. Prepregs are anticipated to find increasing use in the wind energy industry for enabling lightweight, durable wind turbine blades. The growing demand for prepregs from chemical research is expected to present new growth opportunities to market participants.

Moreover, space travel and orthopedic technologies are rapidly emerging as promising areas for prepregs, while production of motorsport vehicle gears is expected to push overall consumption of these materials. Ongoing efforts to develop advanced manufacturing and curing techniques are anticipated to positively influence the prepreg market. Technological advancements are also leading to further improvements in material characteristics and enabling reduced curing time and lowering cost of prepreg materials. Innovations and development of new products are also expected to contribute to expansion of the market. However, growth in the prepregs market is being impeded by the high cost of prepreg materials. High cost of prepregs in comparison to alternatives like aluminum along with low shelf-life is limiting product demand. Further constraints related to autoclaving and maintenance, and detection of damages and subsequent repairing are also impeding market prospects.

Aramid Segment to Reach $894.5 Million by 2026

In the global Aramid segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$546.2 Million in the year 2020 will reach a projected size of US$767.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$74.4 Million by the year 2026, while Latin America will expand at a 6.6% CAGR through the analysis period. More

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