BMI Prepreg Market is Likely to Grow at 7.8% CAGR Over the Next Five Years, Aerospace to Remain the Most Dominant Segment: Stratview Research

DETROIT, August 21, 2018 /PRNewswire/ --

Stratview Research announces the launch of a new research report on BMI Prepreg Market by End-Use Industry Type (Aerospace, Defense, and Others), by Application Type (Tooling, Airframe, Nacelles, and Others), by Reinforcement Type (Unidirectional and Fabrics), by Curing Type (Autoclave, Out of Autoclave, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.

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This report, from Stratview Research, studies the BMI prepreg market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

BMI Prepreg Market: Highlights  

Composite materials have been witnessing the most disruptive journey especially in the aerospace & defense industry where the penetration of advanced composites has reached up to 53% of the structural weight in the next-generation aircraft programs, such as A350XWB. the usage of composite materials in some applications, such as nacelles, missile radome, and aircraft propulsion system, is still limited, because composite parts tend to degrade when exposed to extreme heat. This factor propelled the industry to develop high-temperature-resistant composite materials, which can replace metals from those applications where withstanding extreme heat and harsh environmental conditions are most critical. Among all, the most renowned development is Bismaleimide (BMI) prepreg, which can operate at temperatures reaching 350°C and above and can be used in a wide array of high-temperature applications, such as tooling, engine nacelles, compressor fairing, thrust reverser, automotive racing components, radomes, and missile propulsion system.

As per Stratview Research, the global BMI prepreg market is likely to grow at an excellent CAGR of 7.8% over the next five years. Growth of BMI prepreg would be higher than the overall prepreg market (7.8% vs 5.9%) over the next five years. There is a wide array of factors which are directly or indirectly stimulating the growth BMI prepregs. One of the biggest factors is increasing production of composite-rich military aircraft, especially Lockheed Martin's F-35. F-35 aircraft constitutes roughly 35% composites of its structural weight. Carbon/BMI or carbon/epoxy are the most common prepregs used to fabricate composite parts of F-35.

Aerospace industry is likely to remain the most dominant segment of the market during the forecast period. Increasing production rates of the fifth- generation military fighter aircraft F-35 (Joint Strike Fighter) is likely to give an impetus to the demand for BMI prepreg in the segment in the coming years. Lockheed Martin announced that it increased the deliveries of F-35 by 40% in 2017 than the previous year. The company is likely to further increase its annual deliveries from 66 aircraft in 2017 to an expected delivery of 160 aircraft in 2023.

Based on the application type, tooling is likely to remain the most dominant application of the BMI prepreg market over the next five years. BMI prepreg, in tooling application, serves high Tg (glass transition), which can be used across all the major structural parts in the aerospace & defense industry. It offers good mechanical performance, toughness, robust tooling, and durability with an excellent surface finish.

Autoclave is projected to maintain its dominance in the market. Aircraft primary structures, such as wings, fuselages, and empennage components, are mostly fabricated by using composite materials and cured through an autoclave. High pressure of an autoclave ensures good mechanical properties and helps reduce void contents. Out-of-autoclave curing type is also likely to witness healthy growth rate during the forecast period.

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North America is projected to remain the largest market for BMI prepreg during the forecast period, driven by the presence of world's leading aircraft OEMs, aeroengine manufacturers, tier players, prepreg manufacturers, and raw material suppliers. Europe, another major market, is also projected to create favorable growth opportunities during the forecast period. Dassault Aviation, BAE Systems, and Airbus Group are some of the key OEMs, which are driving the demand for BMI prepregs in the European market.

Major BMI prepreg companies are GMS Composites, Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites (MCCFC), Renegade Materials Corporation, Solvay S.A., and Koninklijke TenCate nv. Development of prepreg system which can withstand extremely high temperature with ease of manufacturing processes, reduced operational cost, and formation of strategic alliances are some of the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features 

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends.
• Strategic growth opportunities for the existing and new players
• Key success factors.

This report studies the global BMI prepreg market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:

BMI Prepreg Market, By End-Use Industry Type 

• Aerospace
• Defense
• Others

BMI Prepreg Market, By Application Type 

• Tooling
• Airframe
• Nacelle
• Others

BMI Prepreg Market, By Reinforcement Type 

• Unidirectional BMI Prepreg
• Fabric BMI Prepreg

BMI Prepreg Market, By Curing Type 

• Autoclave-Cured BMI Prepreg
• Out-of-Autoclave-Cured BMI Prepreg
• Other BMI Prepregs

BMI Prepreg Market, By Region 

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: France, Germany, the UK, Spain, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Latin America, the Middle East, and Others)

Stratview Research has several high value market reports in the chemicals and materials industry. Please refer to the following link to browse through our reports:  

Click Here for Other Reports from Stratview Research in the Chemicals & Materials Industry

Related premium market report in the composites industry are: 

Global Out-of-Autoclave (OOA) Prepreg Market by End-Use Industry Type, by Product Form Type, by Reinforcement Type, by Matrix Type, and by Region, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023

About Stratview Research  

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.  

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SOURCE Stratview Research