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Global Prepreg Market Size to Reach USD 17.24 Billion in 2030 | Emergen Research

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Emergen Research

31 May, 2022, 13:35 GMT

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VANCOUVER, BC, May 31, 2022 /PRNewswire/ -- The global prepreg market size reached USD 9.25 Billion in 2021 and is expected to register a significantly rapid revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Steady shift towards sustainability and green energy sources in addition to implementation of stringent laws and regulations by governments to reduce dependence on and consumption of fossil fuels are some major factors driving market revenue growth.

Increase in demand for green sources of energy and especially wind energy is a key factor driving prepreg market revenue growth.

Market Size – USD 6.94 Billion in 2021, Market Growth – at a CAGR of 10.7%, Market Trends – Increasing demand for lightweight automobiles

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/1020

Drivers:

Increasing Research & Development (R&D) for automation and manufacturing of complex-shaped products and large structures for the marine and wind energy sectors is expected to significantly boost demand for prepreg materials and support market revenue growth going ahead. On 13 January 2021, Hexcel HexPly M9 prepreg materials received Type Approval Certification from DNV GL. HexPly M9 prepreg would provide ship and boat manufacturers optimal prepreg processing options owing to short cure cycles at 100 degrees Celsius, which would increase build rates. DNV GL certification for HexPly M9 is expected to increase demand for type-approved high-performance prepreg materials for large complex structures such as masts, and wing sails, among others in commercial marine craft.

Ease of handling and less complex production of prepreg with reduced curing time opens up more areas for applications and various industrial uses. Rapid adoption of renewable energy to curb dependency of fossil fuels has increased demand for prepreg, which is an important material for manufacturing wind turbine blades and others in the wind energy industry. Furthermore, continuous price fluctuations of crude oil and fossil fuel and supply constraints due to sociopolitical issues in regions of production have resulted in governments exploring wind energy sources, and deployment of wind energy farms is expected to boost market revenue growth to a significant extent over the forecast period.

Restraints:

High cost and low shelf life of prepreg-based materials are some key factors restraining growth of the market. Furthermore, absence of a proper recycling processes of prepreg has led to environmental issues owing to prepreg waste ending up in landfills. The most common practice for fabricating nanoengineered prepreg is to mix nanoparticles with resin and infuse in regular fabric. However, achieving high-volume fraction of nanomaterials for fabricating prepregs is difficult, which is negatively impacting growth of the market. The ongoing Russia-Ukraine war has disrupted the supply chain, which is hampering operations and production of various raw materials and products in countries in the region.

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/prepreg-market

Growth Projections:

The global prepreg market is expected to register a CAGR of 10.7% over the forecast period and revenue is projected to increase from USD 6.94 Billion in 2021 to USD 17.24 Billion in 2030. Rapid adoption of eco-alternatives by major companies in various industry verticals and increasing consumer preference for green energy sources are some of the major factors supporting market revenue growth.

COVID-19 Impact Analysis:

COVID-19 disrupted the supply chain for raw materials and composites acquirement, which significantly impacted the aerospace and defense industry, particularly in some developing countries. Aerospace composites are cost-intensive and countries such as India are highly dependent on other countries such as Russia and the Ukraine for a range of components. In what may seem as a coincidence, on 4 February 2021, in order to eliminate the dependency, Hindustan Aeronautics Limited (HAL) and Mishra Dhatu Nigam Limited (MIDHANI) signed a Memorandum of Understanding (MoU) for development and production of composite raw materials during the Aero India 2021 in Bengaluru.

Composites raw materials, mainly in the form of prepregs have applications such as Light Combat Aircraft (LCA), Advanced Light Helicopter (ALH), Light Combat Helicopter (LCH) and Light Utility Helicopter (LUH) are currently imported. In addition, similar requirement exists for other aerospace and defense programs, including those of Indian Space Research Organisation (ISRO), Defence Research Development Organisation (DRDO), and National Aerospace Laboratories (NAL).

Current Trends and Innovations:

Future developments in prepregs is focused on the need for automation and manufacturing of complex-shaped products and large structures for marine, aerospace, and wind energy sectors. R&D to produce materials that are quicker to lay-up, easier to use, and high quality of laminate is expected to increase significantly owing to high demand from various industry verticals, especially automobile and aerospace.

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/1020

Geographical Outlook:

Market in Europe is expected to register a steady growth rate over the forecast period. Increasing R&D initiatives and automobile production in European countries, such as Germany, France, and Spain, are expected to fuel automotive industry growth in the region. Rising demand for lightweight vehicles owing to need to reduce carbon emissions and enhance fuel efficiency is expected to drive revenue growth of the Europe market. Increasing number of wind energy projects in countries such as Germany and the Czech Republic is also projected to boost the market growth between 2022 and 2030.

Scope of Research

Report Details

Outcome

Market size in 2021

USD 6.94 Billion

CAGR (2022–2030)

10.7%

Revenue forecast to 2030

USD 17.24 Billion

Base year for estimation

2021

Historical data

2019–2020

Forecast period

2022–2030

Quantitative units

Revenue in USD Billion and CAGR in % from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Resin, manufacturing process, fiber, end-use, and region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA

Key companies profiled

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.

Customization scope

10 hours of free customization and expert consultation

Strategic Initiatives:

Some major companies included in the global market report are 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.

  • On 4 October 2021, Solvay announced the launch of CYCOM EP2190, which is an epoxy-based system that provides superior toughness in thick and thin structures with excellent in-plane performance in different climatic conditions. CYCOM EP2190 offers ideal balance of performance and has various applications across the aviation sector including Urban Air Mobility (UAM), commercial and private aerospace segments, rotorcraft, and defense.

Custom Requirements can be requested for this Report [Customization Available] @ https://www.emergenresearch.com/request-for-customization/1020

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
  • Regional Outlook (Revenue, USD Billion, Volume (Kilo Tons); 2019-2030)
    • North America
      a.  U.S.
      b.  Canada
      c.  Mexico
    • Europe
      a.  Germany
      b.  France
      c.  U.K.
      d.  Italy
      e.  Spain
      f.  Benelux
      g.  Rest of Europe
    • Asia Pacific
      a.  China
      b.  India
      c.  Japan
      d.  South Korea
      e.  Rest of APAC
    • Latin America
      a.  Brazil
      b.  Rest of LATAM
    • Middle East & Africa
      a.  Saudi Arabia
      b.  UAE
      c.  South Africa
      d.  Turkey
      e.  Rest of MEA

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About Emergen Research 

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Emergen Research Media Citations: https://www.emergenresearch.com/media-citations
Visit for More Insights: https://www.emergenresearch.com/insights
Explore Our Custom Intelligence services | Growth Consulting Services
Read our Press Release on Prepreg @ https://www.emergenresearch.com/press-release/global-prepreg-market

Logo: https://mma.prnewswire.com/media/1579538/Emergen_Research_Logo.jpg

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