Tow Prepreg Market worth $0.35 billion in 2029 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Feb. 18, 2025 /PRNewswire/ -- The report "Tow Prepreg Market by Resin Type (Epoxy, Phenolic), Fiber Type (Carbon, Glass), Application (Pressure Vessel, Oxygen Cylinders, Scuba Tanks), End-Use Industry (Automotive & Transportation, Oil & Gas, Aerospace & Defense), and Region - Global Forecast to 2029", global tow prepreg market size is expected to reach USD 0.35 billion in 2029 from USD 0.20 billion in 2024, at a CAGR of 12.3% from 2024 to 2029.

The demand for tow prepreg is driven by several key factors, including its lightweight properties, high performance, excellent mechanical properties, and reduced manufacturing cost as compared to traditional materials. Tow prepregs are mainly used in automotive & transportation, oil & gas, aerospace & defense, and sports equipment. In automotive industry, tow prepregs helps in reducing weight, improve performance, and fuel efficiency of the vehicles, providing moderate strength suitable for automotive parts like door panels, leaf springs, and structural elements. Premium automotive manufacturers such as General Motors utilizes tow prepregs for their vehicle production.

Browse in-depth TOC on "Tow Prepreg Market".

304 – Tables
68 – Figures
253 – Pages

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With the growing environmental concerns and government rules & legislations to reduce carbon footprint and promote sustainability, demand for tow prepreg is growing rapidly in aerospace & defense industry. Tow prepregs are widely used in aircraft fuselages, wings, and interior structures due to its high strength and stiffness that contribute to fuel efficiency and emissions reduction in aircraft operations. In US, major aerospace manufacturers like Boeing are preferring tow prepregs for manufacturing aircraft components.

Phenolic resin segment is expected to grow with second-highest CAGR in terms of value in tow prepreg market during the forecasted period.

The phenolic resin type is the second-fastest-growing segment in the tow prepreg market due to its superior tensile strength, high temperature stability, resistance to chemicals, and electrical insulation properties which makes them suitable to produce tow prepregs. Tow prepregs made of phenolic resin possess enhanced material properties, improved process efficiency, consistent quality and performance, and versatility. Due to the increasing environmental awareness on carbon emission and depletion of petroleum resources, phenolic-based tow prepregs are used in wide range of applications in automotive & transportation, oil & gas, aerospace & defense, and sports equipment industries. Apart from this advantages, phenolic resin also has certain limitations, they are brittle which limits their use in high impact applications.

Glass fiber segment is expected to grow with the second-highest CAGR in terms of value in tow prepreg market during the forecasted period.

Glass fiber is the second-fastest-growing fiber type in the tow prepreg market, due to its high impact strength & stiffness, light weight nature, excellent durability and rigidity, weather resistance and electrical insulation properties. It acts as a reinforcement for the development of tow prepregs. Almost all the major manufacturers uses either glass fiber or carbon fiber, as a reinforcement to produce tow prepregs. This advanced mechanical properties of tow prepregs make them a promising candidate for variety of applications in automotive & transportation, oil & gas, aerospace & defense, and sports equipment industries.

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Scuba tanks segment is expected to grow with the second-highest CAGR in terms of value in tow prepreg market by application segment during the forecasted period.

Scuba tanks is the second fastest-growing application in the market of tow prepreg. Scuba tanks are cylindrical containers used to store and supply compressed air for scuba divers. The demand for tow prepregs is rising for scuba tanks due to their high strength, durability, pressure resistance, corrosion resistance, and improved safety. Scuba tanks made of tow prepregs are light weight and more durable as compared to steel or aluminium scuba tanks, which makes it easier for divers to carry and handle them for longer time, particularly during long dives.

The demand for tow prepreg in automotive & transportation industry is expected to grow with the second-highest CAGR in terms of value in tow prepreg market during the forecasted period.

The automotive & transportation is the second fastest growing end-use industry in the tow prepreg market, due to growing demand for light weight and fuel-efficient vehicles. The usage of tow prepregs is increasing in automotive parts such as body panels, chassis, and structural components, interior parts like dashboards, trim panels, and seat structures, due to its high strength to weight ratio, high impact resistance, durability, and flexibility. Rising demand for electric vehicles, which prioritize energy efficiency and range, has increased the demand for tow prepreg for lightweight battery enclosures, which is fuelling the growth of automotive & transportation industry.

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North America region is expected to register second-highest CAGR both in terms of value and volume during forecasted period

North America is the second fastest growing market for tow prepreg mainly due to fast-developing automotive sector, for manufacturing of automotive components. US leads in the field of manufacturing tow prepregs due to presence of well-established tow prepreg manufacturers such as TCR Composites, Inc, Mitsubishi Chemical Carbon Fiber Composites, Inc., Hexcel Corporation, and Huntsman International LLC. In this region, major OEMs including Chrysler, Honda, Ford, Mercedes, and General Motors, have been incorporating tow prepregs for dashboards, door panels, trims, bumper beams, and chassis that are significantly driving demand for such high-performance material like tow prepreg. Moreover, the demand for tow prepreg is also increasing in aerospace & defense industry to reduce weight and increase fuel efficiency and performance.

Key players

Prominent companies include TCR Composites, Inc. (US), SGL Carbon (Germany), ENEOS Holdings, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Carbon Fiber Composites, Inc. (US), Hexcel Corporation (US), Porcher Industries (France), Red Composites (UK), VITECH Composites (France), Arisawa Manufacturing Co., Ltd. (Japan), Toray Industries, Inc. (Japan), 3M (US), KORDSA (Turkey), Gurit Services AG (Switzerland), and Huntsman International LLC (US), and among others.

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