Prepreg Market : An In-Depth Look at the Current State, Future Outlook, Reginal Analysis
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High demand for prepreg material from aerospace & defense industry is a key factor driving prepreg market revenue growth
VANCOUVER, BC, CANADA, June 15, 2023/EINPresswire.com/ -- The global prepreg market size reached USD 6.94 Billion in 2021 and is expected to register a revenue CAGR of 10.7% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for prepreg from various end-use industries, especially from aerospace & defense, coupled with rising demand from the automotive industry is a key factor driving market revenue growth to a significant extent. Composite materials such as carbon fiber have replaced metal in the production of aircraft and automobiles owing to light weight and high strength.
Moreover, flexibility for casting or molding into any shape highly increases demand for manufacturing of components for aircraft interiors, engine blades and rotors, propellers, fin blades, seats, and tail planes – also known as a horizontal stabilizer – among others. Lighter components also decrease operational costs, which is another key factors driving demand for prepreg and is expected to support revenue growth of the market going ahead.
Prepreg, short for pre-impregnated, refers to a composite material widely used in various industries. It consists of reinforcing fibers, such as carbon, glass, or aramid, that are pre-impregnated with a matrix material, typically epoxy resin. The process involves carefully controlling the resin-to-fiber ratio, ensuring an even distribution and impregnation throughout the fabric. Prepreg offers numerous advantages, including excellent mechanical properties, high strength-to-weight ratio, and superior dimensional stability. It is commonly employed in aerospace, automotive, marine, and sporting goods industries, where its precise control of fiber orientation, consistent quality, and ease of handling make it a preferred choice for manufacturing high-performance components and structures.
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Besides, Prepreg Market Research Report makes clients aware about the various strategies that are used by key players of the market. These strategies mainly include new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others that boost their footprints in this market. The analysis and forecasting of market data using best statistical and coherent models, market share analysis and key trend analysis are the major accomplishing factors in the steadfast Prepreg market report. Moreover, intricate market insights are turned into simpler version with the help of proven tools and techniques and then provided to the users.
The Top Driving Players Operating in the Market Covered in this report:
Hexcel Corporation, Toray Industries, Inc., Park Aerospace Corp., Teijin Limited, Mitsubishi Chemical Carbon Fiber and Composites, Inc., SGL Carbon, Gurit, Rock West Composites, Inc., Plastic Reinforcement Fabrics Ltd., and ACP Composites, Inc.
Some Key Highlights From the Report
Thermoset segment accounted for a comparatively larger revenue share in 2021. Thermoset is widely preferred as it is easy to work with at room temperature and fibers easily permeate before curing. As a result, traction has been increasing and this is one of the primary factors that is boosting revenue growth of the thermoset segment. Thermoset resins provide improved overall strength, thermal stability, moisture resistance, targeted reinforcement, in addition to chemical resilience, which enables use of the materials in various applications in different end-use industries. Polyester resin, vinyl ester, and epoxy resins are in high demand owing to easy impregnation of reinforcing fibers such as Kevlar, carbon fiber, and fiberglass, among others.
Hot-melt segment is expected to register a steady revenue growth rate over the forecast period. Hot-melt process enables environmental-friendly production owing to no requirement of organic solvents for solvent coating and drying. In addition, stringent norms and regulations have resulted in increased and rapid adoption of the hot-melt process for industrial purposes, and this is expected to continue to drive revenue growth of this segment.
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Emergen Research has segmented the global Prepreg market on the basis of resin, manufacturing process, fiber, end-use, and region:
Resin Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
Thermoset
Thermoplastic
Manufacturing Process Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
Hot-melt
Solvent dip
Fiber Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
Glass
Carbon
Aramid
Others
End-Use Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
Aerospace & defense
Automotive
Wind energy
Sporting goods
Others
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Major Geographies Covered in the Report:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Target Audience of the Report:
Leading Companies
Large, medium-sized, and small enterprises
Investors
Value-Added Resellers (VARs)
Venture capitalists
Third-party knowledge providers
The global Prepreg market report evaluates the latest economic scenario in terms of value and volume. It highlights the key growth drivers, restraints, production capacity, demand & supply ratio, import/export status, growth rate, and other critical aspects. Additionally, the report also performs SWOT analysis, Porter’s Five Forces analysis, speculation attainability investigation, and venture return investigation.
Key Benefits of Buying the Global Prepreg Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Prepreg Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Prepreg Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Prepreg Market
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