Global Prepreg Market, Size, Share Outlook and Growth Opportunities to 2025: By Resin Type, By Fiber Type, By Manufacturing Process, By Application and Region

SOUTHLAKE, TX, UNITED STATES, September 3, 2019 /EINPresswire.com/ -- The $6,206 million Prepreg Market is rapidly emerging worldwide driven by carbon emission reduction initiatives across automobile segment. Prepreg is a merge of composite material portfolio shaping the wave of next generation vehicles to meet the challenges of light weight vehicles, reinforcing automobile engines and low-toxicity hybrid raw materials.

Overall, prepreg market companies will witness robust long term market opportunities and growth in the forecast period to 2025. The market growth is driven by investments from major prepreg manufacturers in Research and Development (R&D) delivering advance composite materials to the aircraft and vehicle manufacturing sectors.

In addition to investments in innovative product portfolio, leading companies in prepreg market are undertaking mergers and acquisition to strengthen the supply of lightweight, high-performance materials for improved fuel efficiency.

Prepreg Market revenue is also driven by advanced engineering of glass fibre, carbon fiber, and aramid fibre types of Prepreg to meet the surplus demand of aircraft and automobile sectors that offer environmentally sensitive solution.

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However, concerns related to the recyclability and high production and processing cost of different types of prepreg fibre can act as restraints to overall market growth.

Carbon fiber prepreg holds the largest market share amidst high efficiency and profitability

Carbon fiber type is significantly penetrating prepreg market driven by increasing demand for high strength materials in aerodynamic applications ranging from aircraft engineering to sport utility applications.

Companies operating in the carbon fiber are increasingly strengthening relations with OEM manufacturers of industrial tool and are contributing to make carbon fibre prepreg easily accessible to the market.

In August 2019, Cygnet Texkimp signed agreement to supply industrial-scale slitter-spooler, to a manufacturer of aerospace-grade composites based in China which lit sheets of carbon fibre prepreg into tapes before winding it onto spools.

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Recycling of carbon fiber prepreg untaps potential market opportunity

Demonstrably greater activity is observed in the recycling of carbon fiber prepreg industry with foray of new players entering, followed by recycling of glass fiber and resins.

In July 2019, Vartega officially open its new 10,000-square-foot manufacturing facility designed to allow the company to take the next steps in its efforts to expand its carbon fiber recycling operations and products.

Growing Aerospace and Automobile Sector Uplifts Prepreg Market Scope

With the increasing demand for medium and small-sized, single-aisle aircrafts, prepreg market players are diversifying their prepreg product portfolio. Thermoplastic prepreg seeks greater market share with key vendors investing in these high- composite materials.

For instance, Toray Advanced Composites offers thermoplastic advanced lightweight prepreg fiber qualified to major aircraft OEMs specifications with benefits of outstanding mechanical properties, durability, and strength under extreme conditions and environments.

In 2018, Toray signed an agreement with Koninklijke Ten Cate B.V to buy all shares of its subsidiary “TenCate Advanced Composites Holding B.V” to strengthen its footprint in the aerospace industry as key supplier of thermoplastic prepreg.

Furthermore, the escalation in the production rates of major aircraft programs including B787, B737, A320, and A350XWB are also boosting the thermoplastic prepreg product demand in the sector.

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Key Players Target Aerospace Sales & Strategic Acquisitions

Major suppliers of Prepreg Market are undergoing acquisitions to expand their business across regions. For instance, in July 2019, Kordsa, announced its acquisition of Axiom Materials, for $181 million to strengthen its base in North America.

Prepreg Manufacturers are increasingly undertaking production volume targets for aircraft customers, which augment the market growth. Accordingly in early 2019, Teijin Limited announced its target to exceed annual aerospace sales by $900 million till 2030 along with acquisition of Renegade.

Key participants operating in global prepreg market

Axiom Materials, Composite Resources Inc., Gurit, Huntsman International LLC, Hexcel Corporation, Isola Group, Koninklijke Ten Cate BV, Mitsubishi Chemical Carbon Fiber and Composites Inc., Park Electrochemical Corp., and SGL Group the key players operating in global prepreg market.

Prepreg market growth widens across aerospace hub regions

The competitive automotive industry coupled with presence of key industry players positively impacts market growth across Americas with the United States and Canada as key contributors to the prepreg size during the forecast period. Park Electrochemical Corp., Huntsman International LLC and Axiom Materials are among major players in the North American market.

Asia Pacific region is set to rapidly emerge as a strong prepreg market over the forecast period 2019-2025 driven by increasing demand for prepreg from construction industry across China and South Korea. Strong impetus by ASEAN governments to accelerate the building and construction activities will further drive the prepreg industry growth.

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