The global prepreg market size is expected to reach USD 11.59 billion by 2028 according to a new study by Polaris Market Research. The report “Prepreg Market Share, Size, Trends, Industry Analysis Report, By Manufacturing Process (Solvent Dip, Hot-Melt); By End-Use (Automotive, Aerospace, Electronics, Wind Energy, Others); By Resin; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Prepreg is increasingly being used due to industrialization growth, increased sale of vehicles, and growing demand from aerospace & defense sectors. The increasing modernization of vehicles, growing development of autonomous vehicles, and increasing application in the manufacturing of wind turbines have further boosted market growth.
However, the COVID-19 outbreak has negatively impacted the prepreg industry owing to operational challenges, transportation delays, disruption of the supply chain, reduced demand, and workforce impairment. The resin segment has been divided into thermoplastic, and thermoset. The thermoset resins accounted for a major share in 2020.
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In a thermoset resin, a catalytic chemical reaction cures resin molecules to form crossed linked structures, resulting in solid bonds with one another in a tangible form. Some standard thermosetting resins include epoxy, polyester resin, vinyl ester resin, phenolic, and urethane, among others. Thermoset offer high fatigue strength, greater resistance to solvents and corrosives, excellent adhesion, and resistance to heat and high temperature.
The fiber segment has been divided into glass fiber, aramid fiber, carbon fiber, and others. Carbon fiber accounted for a major market share in 2020. Carbon fiber provides superior performance, high strength, and greater environmental and chemical resistance. They are widely being used in the automotive, aerospace, and electronics sectors.
Market players, manufacturers, and private organizations collaborate to expand and cater to more comprehensive applications and develop advanced technologies. They are used in diverse industries such as automotive, aerospace, electronics, wind energy, and others. The aerospace and defense segment accounted for the highest share in 2020.
However, the wind energy segment is expected to grow at a significant rate during the forecast period. The increasing environmental awareness coupled with government initiatives is encouraging consumers to turn towards renewable energy sources. The use of prepreg in wind turbines enables these renewable systems to withstand harsh environments, extreme temperatures, chemicals abrasion, and mechanical stresses.
Some major Market Participants include Mitsubishi Chemical Holdings Corporation, Teijin Limited, Composite Resources Inc., Gurit Holding AG, Ventec International Group Hexcel Corporation, Isola Group, Axiom Materials, Sunrez Corporation, Plastic Reinforcement Fabrics Ltd., Renegade Materials Corporation, Solvay Group, Toray Industries, Inc., Park Aerospace Corp., and SGL Group.
Polaris Market Research has segmented the prepreg market report on the basis of resin, fiber, manufacturing process, end-use, and region:
Prepreg, Resin Outlook (Revenue, USD Billion, 2016 – 2028)
Prepreg, Fiber Outlook (Revenue, USD Billion, 2016 – 2028)
- Glass Fiber
- Aramid Fiber
- Carbon Fiber
Prepreg, Manufacturing Process Outlook (Revenue, USD Billion, 2016– 2028)
- Solvent Dip Process
- Hot-Melt Process
Prepreg, End-Use Outlook (Revenue, USD Billion, 2016 – 2028)
- Wind Energy
Prepreg, Regional Outlook (Revenue, USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa