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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 19, 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.

The wide ranging Prepreg report consists of most recent market information with which companies can attain in depth analysis of industry and future trends. With the global market data provided in the industry report, it has become easy to gain global perspective for the international business. By accomplishing an inspiration from the marketing strategies of rivals, businesses can set up inventive ideas and striking sales targets which in turn make them achieve competitive advantage over its competitors. Thus, the first class Prepreg market report is an indispensable model to have increments in business activities, qualitative work done, and enhanced profits.

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Competitive Landscape:

The report also covers SWOT examination and Porter’s Five Forces analysis to offer details about leading players. The key players in the market are focusing on developing new strategies such as mergers and acquisition, joint ventures, new product launches, agreements, and partnerships to retain their market position and expand their product base.

Leading companies operating in the market and profiled in the report include:

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.

Carbon fiber segment revenue is expected to increase at a significant rate over the forecast period. Carbon fiber is a cost effective, light weight, and strong material with robust potential for a range and variety of applications, especially in aircraft, and motorsport. Properties to enhance structural integrity with reduced wastage of resources is expected to boost demand over the forecast period. On 19 October 2021, Teijin announced that Renegade Materials Corp., which is a U.S. based supplier of heat-resistant thermoset products for the aerospace industry will increase production capacity by 2.5 times.

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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

 The study segments the Prepreg industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2022– 2030 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.

Market Dynamics:

The report offers insightful information about the market dynamics of the Prepreg market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Prepreg market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Prepreg market.

Key point summary of the report:

The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.

It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.

The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.

It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.

The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.

The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.

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