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Global Prepreg Market, By Fiber Reinforcement Type (Carbon Fiber, Glass Fiber, and Others); By Resin Type (Thermoset Prepreg, and Thermoplastic Prepreg); By Manufacturing Process (Hot Melt Process, and Solvent Dip Process); By Application (Aerospace & Defence, Wind Energy, Automotive, Sporty Goods, Electronics, and Others); By Region (North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: June 2021
- Report ID: BWC20391
- Available Format: PDF
- Page: 161
Report Overview
The rising demand for lightweight components from the electronics, automotive, aerospace & defense, wind energy, and sporting goods industries, etc. is the key driver for the global prepreg market.
Global Prepreg market - Industry Trends & Forecast Report 2027
The global prepreg market was worth USD 7.8 billion in 2020 and is further projected to reach USD 11.2 billion by 2027, at a CAGR of 5.9% during the forecast period (2021-2027). The rising demand for lightweight components from the electronics, automotive, aerospace & defense, wind energy, and sporting goods industries, etc. is the key driver for the global prepreg market. In the aerospace and wind energy industries, the replacement of traditional metallic components with lightweight prepreg-based components to boost fuel economy and reduce weight is offering even more lucrative potential for the global prepreg market.
Source: Blue Weave Consulting
Global Prepreg market Overview
Prepreg is composed consisting of a matrix (or resin) and reinforcing fiber. It adds stiffness and strength to composites, as well as good thermal, electrical, and chemical properties. It offers significant weight reductions by replacing heavy metallic components. The global prepreg market seeks to meet the high component demands of the aerospace and defense, electronics, automotive, and wind energy industries. These specially developed resin matrix systems reinforced with man-made fibers like carbon, glass, and aramid can be further classified based on production techniques, resin type, and so on.
Global Prepreg Market Trend
Growth Drivers
Upsurging demands from the wind energy industry to drive the global prepreg market
Due to rising pollution and concerns for environmental health with traditional energy production methods, the global prepreg market has seen significant demand from the wind energy industry. The wind energy business eventually drew many countries and industries to focus on more environmentally-friendly energy production methods. Furthermore, favorable legislative support for renewable capacity expansion, as well as minimal noise pollution from wind turbine technology, is driving the market growth. As a result of its lightweight and high strength, the prepreg is in high demand in the wind energy industry in terms of volume. It is used for manufacturing structural composites for wind turbines.
Increasing Demands from The Aerospace & Defense Industry to Drive the Global Prepreg Market
The aerospace and defense industry relies heavily on the global prepreg market for lightweight components and materials. The growth of this market is due to advancements in 3D printing technology for the fabrication of lightweight aircraft parts, government initiatives, and the key players investing extensively in R&D for aircraft manufacturing. This ultimately created opportunities for the global prepreg market to supply a lightweight, mechanically strong, low electrical conductivity material like prepreg. Prepreg is widely utilized in the production of aircraft, helicopters, defense aircraft, and aero-engines, which in turn is fueling the expansion of the global prepreg market.
Restraints
High Manufacturing Cost of Raw Materials
Aramid, carbon, and glass fibers are the most common materials used to manufacture prepreg around the world. Carbon fibers are made using a set of techniques that must be followed step by step. The transformation of solid carbon into threads necessitates a high amount of heat energy, around 1000° C, in three separate heating steps. The threads are then weaved into sheets, and resins are added to make carbon fiber, which is exceedingly expensive. High manufacturing costs for aramid, carbon and glass fibers used for prepreg production increases the product price. Increased raw material prices, therefore, pose a threat to the growth of the market.
Impact of COVID-19
COVID-19 has wreaked havoc on businesses in a variety of industries and the global prepreg market is no exception. Various production facilities in the automotive, aerospace, and electronic industries have been shut down as a result of social distancing norms imposed by the government, including nationwide lockdowns, border closures, and labor restrictions. Many businesses have experienced a significant drop in revenue as a result of the closure. As a result, they are currently wary of investing in technology and innovation. Automotive and transportation, industrial equipment, construction, and electronics have been the most severely impacted end-use industries of the plastics industry, resulting in a sharp drop in demand for prepreg around the world.
Global Prepreg Market: By Fiber Reinforcement Type
Based on fiber reinforcement type, the global prepreg market is grouped into carbon fiber, glass fiber, and others. Because carbon fiber composite materials are used as alternatives for metal components to reduce fuel consumption and carbon emissions, the carbon fiber segment leads the global prepreg market. High rigidity and chemical resistance are also some noteworthy advantages. Carbon fiber is the most commonly used fiber because of its lightweight, high-temperature tolerance, high tensile strength, and minimal thermal expansion. Additionally, the glass fiber’s segment depicts the fastest growth as glass fiber is widely utilized as a reinforcement fiber in polymeric resins such as unsaturated polyester and epoxy. Tent poles, crossbows, automotive bodywork, paper honeycomb, boat hulls, and other items are made from glass fibers.
Source: Blue Weave Consulting
Global Prepreg Market: By Resin Type
Based on the resin type, the global prepreg market is grouped into thermoset prepreg and thermoplastic prepreg. The thermoset segment accounts for the largest share in the resin type segment. Thermoset prepreg is the most preferred resin due to its great resistance to corrosives and solvents, resilience to heat and high temperatures, excellent adhesion, high strength, and elasticity. Its liquid shape and three-dimensional network structure also aid in the easy impregnation of reinforcing fibers and the imparting of structural strength.
Thermoplastic, on the other hand, is emerging as the fastest-growing segment due to its ability to be molded into various shapes. Packaging containers, water, and soda bottles, shopping bags, pipelines, safety glass lenses, airline armrests, window frames, and footwear, among other applications, are all made of thermoplastics.
Global Prepreg Market: By Manufacturing Process
Based on the manufacturing process, the global prepreg market is fragmented into the hot-melt process and solvent dip process. The hot melt manufacturing process segment owns the largest market share and depicts the fastest growth owing to its properties like easy handling, control over resin content, and excellent product quality. Moreover, this is an eco-friendly process that does not require any solvent, and the cost of production is also low. Due to the high adoption of the hot-melt process in the manufacturing of automotive parts and aircraft structures the global prepreg market is growing worldwide.
Global Prepreg Market: By Application
Based on application, the global prepreg market is fragmented into aerospace & defense, wind energy, automotive, sporty goods, electronics, and others applications. Because of the increasing demand for a lightweight, structurally strong, low electrical conducting material like prepreg, the aerospace, and defense application category holds the largest market share. Prepreg is used in manufacturing aircraft components to reduce the overall weight and improve fuel efficiency. Furthermore, due to their great mechanical strength, prepreg fibers are increasingly being employed as a replacement for metal wire and organic fiber in structural composite applications.
The fastest-growing application segment is wind energy, owing to the increasing awareness regarding sustainable energy and the advantages of employing prepreg over metallic components in wind turbine manufacturing.
Global Prepreg Market: Regional Insights
Geographically, the global prepreg market is categorized into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. North America dominates the global prepreg market out of all the continents. The aerospace industry's rapid growth, combined with escalating operational fleet demand, has led to increased aircraft production, which in turn is aiding the growth of the North American Prepreg market. Additionally, the Asia- Pacific region shows the fastest growth in the global prepreg market due to the fast expansion of various industries like aerospace, wind energy, automotive, etc. in developing countries including China, India, and Japan.
Competitive Landscape
The global prepreg market is quite competitive as the market players are continually competing to capture the market. Additionally, various government efforts and extensive R&D, on the other hand, are luring new entrants to enter the market. The emergence of new entrants has resulted in more healthy rivalry among the industry's well-established incumbents. Additionally, the key players have been investing in new technologies and breakthroughs to gain a competitive edge in the market. Some of the key players include Solvay Group, Hexcel Corporation, Toray Industries, Inc., Teijin Limited and Mitsubishi, Chemical Holdings Corporation, SGL Group, Axiom Materials, Gurit Holding AG, Park, Aerospace Corp., Plastic Reinforcement Fabrics Ltd., and other prominent players.
Recent Developments
- In June 2021, Tenax™ carbon fiber prepreg by Teijin Limited has been adopted for manufacturing next-generation aircraft engines to be used by Airbus. This prepreg to be used for the nacelle part was developed specifically for aircraft applications with heavy-duty and rapid-curing epoxy resin.
- In March 2021, Technology leader Hexcel joined a project named ASCEND project (Aerospace and Automotive Supply Chain Enabled Development)) to develop high-rate manufacturing and explore the future of lightweight materials for air mobility, aerospace, and automotive industries.
Scope of the Report
| Attribute | Details |
| Years Considered | Historical data – 2017-2020 |
| Base Year – 2020 | |
| Forecast – 2021 – 2027 | |
| Facts Covered | Revenue in USD Million |
| Market Coverage | U.S, Canada, Germany, UK, France, Italy, Spain, Russia, Bulgaria, Poland, Turkey, Austria, Japan, South Korea, China, India, Australia, Malaysia, Brazil, Argentina, Mexico, UAE, South Africa, Saudi Arabia |
| Product/Service Segmentation | By Fiber Reinforcement type, By Resin Type, By Manufacturing Process, By Application, and By Region |
| Key Players | Key Players for the market are Solvay Group, Hexcel Corporation, Toray Industries, Inc., Teijin Limited and Mitsubishi, Chemical Holdings Corporation, SGL Group, Axiom Materials, Gurit Holding AG, Park, Aerospace Corp., Plastic Reinforcement Fabrics Ltd., and other prominent players. |
By Fiber Reinforcement Type
- Carbon Fiber Prepreg
- Glass Fiber Prepreg
- Others
By Resin Type
- Thermoset Prepreg
- Thermoplastic Prepreg
By Manufacturing Process
- Hot Melt Process
- Solvent Dip Process
By Application
- Aerospace & Defence
- Wind Energy
- Automotive
- Sporting Goods
- Electronics
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
1.1. Research Objective
1.2. Fiber Reinforcement Type Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
2.3.1. Primary & Secondary Research Application
2.3.2. Secondary Research
2.3.3. Primary Research
2.4. Breakdown of Primary Research Respondents, By Region
2.5. Assumption & Limitation
3. Executive Summary
4. Global Prepreg Market Insights
4.1. Industry Value Chain Analysis
4.2. DROC Analysis
4.2.1. Growth Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. Recent Development/Technological Advancements
4.4. Porter’s Five Forces Analysis
4.4.1. Bargaining Application of Suppliers
4.4.2. Bargaining Application of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Intensity of Rivalry
5. Global Prepreg Market Overview
5.1. Market Size & Forecast by Value, 2017-2027
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Fiber Reinforcement Type
5.2.1.1. Carbon Fiber Prepreg
5.2.1.2. Glass Fiber Prepreg
5.2.1.3. Others
5.2.2. By Resin Type
5.2.2.1. Thermoset Prepreg
5.2.2.2. Thermoplastic Prepreg
5.2.3. By Manufacturing Process
5.2.3.1. Hot Melt Process
5.2.3.2. Solvent Dip Process
5.2.4. By Application
5.2.4.1. Aerospace & Defence
5.2.4.2. Wind Energy
5.2.4.3. Automotive
5.2.4.4. Sporting Goods
5.2.4.5. Electronics
5.2.4.6. Others
5.2.5. By Region
5.2.5.1. North America
5.2.5.2. Europe
5.2.5.3. The Asia-Pacific
5.2.5.4. Latin America
5.2.5.5. The Middle East and Africa
6. North America Prepreg Market
6.1. Market Size & Forecast by Value, 2017-2027
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Fiber Reinforcement Type
6.2.2. By Resin Type
6.2.3. By Manufacturing Process Type
6.2.4. By Application
6.2.5. By Country
6.2.5.1. United States
6.2.5.2. Canada
7. Europe Prepreg Market
7.1. Market Size & Forecast by Value, 2017-2027
7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
7.2.1. By Fiber Reinforcement Type
7.2.2. By Resin Type
7.2.3. By Manufacturing Process Type
7.2.4. By Application
7.2.5. By Country
7.2.5.1. France
7.2.5.2. Germany
7.2.5.3. Italy
7.2.5.4. Spain
7.2.5.5. United Kingdom
7.2.5.6. Russia
7.2.5.7. Bulgaria
7.2.5.8. Poland
7.2.5.9. Turkey
7.2.5.10. Austria
7.2.5.11. Rest of Europe
8. The Asia-Pacific Prepreg Market
8.1. Market Size & Forecast by Value, 2017-2027
8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
8.2.1. By Fiber Reinforcement Type
8.2.2. By Resin Type
8.2.3. By Manufacturing Process Type
8.2.4. By Application
8.2.5. By Country
8.2.5.1. Japan
8.2.5.2. China
8.2.5.3. India
8.2.5.4. South Korea
8.2.5.5. Malaysia
8.2.5.6. Australia
8.2.5.7. Rest of APAC
9. Latin America Prepreg Market
9.1. Market Size & Forecast by Value, 2017-2027
9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
9.2.1. By Fiber Reinforcement Type
9.2.2. By Resin Type
9.2.3. By Manufacturing Process Type
9.2.4. By Application
9.2.5. By Country
9.2.5.1. Brazil
9.2.5.2. Mexico
9.2.5.3. Argentina
9.2.5.4. Rest of Latin America
10. The Middle East & Africa Prepreg Market
10.1. Market Size & Forecast by Value, 2017-2027
10.1.1. By Value (USD Million)
10.2. Market Share & Forecast
10.2.1. By Fiber Reinforcement Type
10.2.2. By Resin Type
10.2.3. By Manufacturing Process Type
10.2.4. By Application
10.2.5. By Country
10.2.5.1. South Africa
10.2.5.2. Saudi
10.2.5.3. UAE
10.2.5.4. Rest of MEA
11.Competitive Landscape
11.1. Company Market Share Analysis, 2020
11.2. Competitive Benchmarking, By Fiber Reinforcement Type Offerings
11.3. List of Key Players and their Offerings
12.Impact of Covid-19 across Industry
13.Company Profile (Company Overview, Financial Matrix, Key Fiber Reinforcement Type landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
13.2. Hexcel Corporation
13.3. Toray Industries, Inc.
13.4. Teijin Limited and Mitsubishi
13.5. Chemical Holdings Corporation
13.6. SGL Group
13.7. Axiom Materials
13.8. Gurit Holding AG
13.9. Park Aerospace Corp.
13.10. Plastic Reinforcement Fabrics Ltd.
13.11. Other Prominent Players
14.Key Strategic Recommendations
*Financial details of unlisted companies will be available as per data availability in final deliverable
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures.
Fig: Global Prepreg Segmentation
Fig: Global Prepreg Market Value Chain Analysis
Fig: Company Market Share Analysis, 2020
Fig: Global Prepreg Market Size, By Value (USD Million), 2017-2027
Fig: Global Prepreg Market Share, By Fiber Reinforcement Type, By Value, 2017-2027
Fig: Global Prepreg Market Share, By Resin Type, By Value, 2017-2027
Fig: Global Prepreg Market Share, By Manufacturing Process, By Value, 2017-2027
Fig: Global Prepreg Market Share, By Application, By Value, 2017-2027
Fig: Global Prepreg Market Share, By Region, By Value, 2017-2027
Fig: North America Prepreg Market Size, By Fiber Reinforcement Type (USD Million), 2017-2027
Fig: North America Prepreg Market Share, By Resin Type, By Value, 2017-2027
Fig: North America Prepreg Market Share, By Manufacturing Process, By Value, 2017-2027
Fig: North America Prepreg Market Share, By Application, By Value, 2017-2027
Fig: North America Prepreg Market Share, By Country, By Value, 2017-2027
Fig: Europe Prepreg Market Size, By Fiber Reinforcement Type (USD Million), 2017-2027
Fig: Europe Prepreg Market Share, By Resin Type, By Value, 2017-2027
Fig: Europe Prepreg Market Share, By Manufacturing Process, By Value, 2017-2027
Fig: Europe Prepreg Market Share, By Application, By Value, 2017-2027
Fig: Europe Prepreg Market Share, By Country, By Value, 2017-2027
Fig: The Asia-Pacific Prepreg Market Size, By Fiber Reinforcement Type (USD Million), 2017-2027
Fig: The Asia-Pacific Prepreg Market Share, By Resin Type, By Value, 2017-2027
Fig: The Asia-Pacific Prepreg Market Share, By Manufacturing Process, By Value, 2017-2027
Fig: The Asia-Pacific Prepreg Market Share, By Application, By Value, 2017-2027
Fig: The Asia-Pacific Prepreg Market Share, By Country, By Value, 2017-2027
Fig: Latin America Prepreg Market Size, By Fiber Reinforcement Type (USD Million), 2017-2027
Fig: Latin America Prepreg Market Share, By Resin Type, By Value, 2017-2027
Fig: Latin America Prepreg Market Share, By Manufacturing Process, By Value, 2017-2027
Fig: Latin America Prepreg Market Share, By Application, By Value, 2017-2027
Fig: Latin America Prepreg Market Share, By Country, By Value, 2017-2027
Fig: The Middle East & Africa Prepreg Market Size, By Fiber Reinforcement Type (USD Million), 2017-2027
Fig: The Middle East & Africa Prepreg Market Share, By Resin Type, By Value, 2017-2027
Fig: The Middle East & Africa Prepreg Market Share, By Manufacturing Process, By Value, 2017-2027
Fig: The Middle East & Africa Prepreg Market Share, By Application, By Value, 2017-2027
Fig: The Middle East & Africa Prepreg Market Share, By Country, By Value, 2017-2027
List of Tables.
Table: Global Prepreg Size, By Fiber Reinforcement Type, By Value, 2017-2027
Table: Global Prepreg Market Size, By Resin Type, By Value, 2017-2027
Table: Global Prepreg Market Size, By Manufacturing Process, By Value, 2017-2027
Table: Global Prepreg Market Size, By Application, By Value, 2017-2027
Table: Global Prepreg Market Size, By Region, By Value, 2017-2027
Table: North America Prepreg Market Size, By Fiber Reinforcement Type, By Value, 2017-2027
Table: North America Prepreg Market Size, By Resin Type, By Value, 2017-2027
Table: North America Prepreg Market Size, By Manufacturing Process, By Value, 2017-2027
Table: North America Prepreg Market Size, By Application, By Value, 2017-2027
Table: North America Prepreg Market Size, By Country, By Value, 2017-2027
Table: Europe Prepreg Market Size, By Fiber Reinforcement Type, By Value, 2017-2027
Table: Europe Prepreg Market Size, By Resin Type, By Value, 2017-2027
Table: Europe Prepreg Market Size, By Manufacturing Process, By Value, 2017-2027
Table: Europe Prepreg Market Size, By Application, By Value, 2017-2027
Table: Europe Prepreg Market Size, By Country, By Value, 2017-2027
Table: The Asia-Pacific Prepreg Market Size, By Fiber Reinforcement Type, By Value, 2017-2027
Table: The Asia-Pacific Prepreg Market Size, By Resin Type, By Value, 2017-2027
Table: The Asia-Pacific Prepreg Market Size, By Manufacturing Process, By Value, 2017-2027
Table: The Asia-Pacific Prepreg Market Size, By Application, By Value, 2017-2027
Table: The Asia-Pacific Prepreg Market Size, By Country, By Value, 2017-2027
Table: Latin America Prepreg Market Size, By Fiber Reinforcement Type, By Value, 2017-2027
Table: Latin America Prepreg Market Size, By Resin Type, By Value, 2017-2027
Table: Latin America Prepreg Market Size, By Manufacturing Process, By Value, 2017-2027
Table: Latin America Prepreg Market Size, By Application, By Value, 2017-2027
Table: Latin America Prepreg Market Size, By Country, By Value, 2017-2027
Table: The Middle East & Africa Prepreg Market Size, By Fiber Reinforcement Type, By Value, 2017-2027
Table: The Middle East & Africa Prepreg Market Size, By Resin Type, By Value, 2017-2027
Table: The Middle East & Africa Prepreg Market Size, By Manufacturing Process, By Value, 2017-2027
Table: The Middle East & Africa Prepreg Market Size, By Application, By Value, 2017-2027
Table: The Middle East & Africa Prepreg Market Size, By Country, By Value, 2017-2027
Table: Solvay Group Financial Analysis
Table: Solvay Group Business Overview
Table: Hexcel Corporation Financial Analysis
Table: Hexcel Corporation Business Overview
Table: Toray Industries, Inc. Financial Analysis
Table: Toray Industries, Inc. Business Overview
Table: Teijin Limited and Mitsubishi Financial Analysis
Table: Teijin Limited and Mitsubishi Business Overview
Table: Chemical Holdings Corporation Financial Analysis
Table: Chemical Holdings Corporation Business Overview
Table: SGL Group Financial Analysis
Table: SGL Group Business Overview
Table: Axiom Materials Financial Analysis
Table: Axiom Materials Business Overview
Table: Gurit Holding AG Financial Analysis
Table: Gurit Holding AG Business Overview
Table: Park Aerospace Corp. Financial Analysis
Table: Park Aerospace Corp. Business Overview
Table: Plastic Reinforcement Fabrics Ltd. Financial Analysis
Table: Plastic Reinforcement Fabrics Ltd. Business Overview
Market Segmentation
By Fiber Reinforcement Type
- Carbon Fiber Prepreg
- Glass Fiber Prepreg
- Others
By Resin Type
- Thermoset Prepreg
- Thermoplastic Prepreg
By Manufacturing Process
- Hot Melt Process
- Solvent Dip Process
By Application
- Aerospace & Defence
- Wind Energy
- Automotive
- Sporting Goods
- Electronics
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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