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Prepeg Market Scope, Future Prospects And Competitive Analysis 2020-2030|Top Key players:Plastic Reinforcement Fabrics Ltd. (UK), Toray Industries, Inc. (Japan)

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Prepeg Market Scope, Future Prospects And Competitive Analysis 2020-2030|Top Key players:Plastic Reinforcement Fabrics Ltd. (UK), Toray Industries, Inc. (Japan)

July 05
18:16 2021
Prepeg Market Scope, Future Prospects And Competitive Analysis 2020-2030|Top Key players:Plastic Reinforcement Fabrics Ltd. (UK), Toray Industries, Inc. (Japan)
Prepreg is a composite material, used for reinforcing a fabric which has already been pre saturated with a resin system.

Prepreg is a composite material, used for reinforcing a fabric which has already been pre saturated with a resin system. As the prepregs have control of laminate thickness, better conformity and quality, its applications in aircraft interiors, aerospace components and for automotive parts have been increasing gradually.

Demand from Automotive Sector Key to Growth

As tow prepreg is used in manufacturing of CNG cylinders in automobiles, its demand in automotive sector can boost adoption. Due to covid-19 impact, automobile manufacturing sector witnessed a decline of 30%, but the industry is expected to rebound during 2021-2025.

prepreg market

As per an article from MDPI, due to high mechanical properties, ultimate tensile strength, specific stiffness, excellent fatigue resistance and low weight of tow prepegs, these are preferred by manufacturers.

High Manufacturing Cost May Inhibit Adoption

Aramid, carbon and glass fibres used as raw materials for production of prepreg makes it expensive. Due to covid-19, cost of raw materials has been uncertain and the demand has also waned; these factors continue to pose challenges for prepeg manufacturers.

For example, sales of carbon fibre composites in 2019 were about 47% industrial and 46% in aerospace by application. Europe sector with 32% sales of carbon fibre composites was leading globally followed by America (26%), Asia and Japan (21%).

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Competitive Landscape

Prominent players in prepreg market include Teijin Limited (Japan), SGL Group (Germany), Gurit Holding AG (Switzerland), Plastic Reinforcement Fabrics Ltd. (UK), Toray Industries, Inc. (Japan), Hexcel Corporation (US), Solvay Group (Belgium), Mitsubishi Chemical Holdings Corporation (Japan), Axiom Materials (US), etc.

Solvay, in February 2020, launched CYCOM EP2750, a technology to enable high rate, cost effective manufacture of aerospace structural parts. The material produces high quality small and medium size parts like access panels, rib-shapes, and c-frames.

The new prepreg is applicable to both primary and secondary structures, is compatible with different number of reinforcements. Its application includes commercial aircraft programs, military and air mobility platforms.

Toray and Joby aviation in December 2020 finalised a long term supply agreement. The agreement aims to bring affordable zero emissions flight that is both robust and light weight. Joby aviation has been developing its aircraft and plans of bringing it into commercial operation by 2023.

Teijin in January 2021 announced that they have established the European Sustainable Technology Innovation Centre in Arnhem, Netherlands for research and development facility. The research hub aims to strengthen development initiatives in Teijin’s various business units. ESTIC will also help in developing green materials to support global circular economy and lower environmental impact.

Regional Outlook

Global demand of prepregs depends on a number of factors. Key factors among them are aircraft interiors and growth in aerospace industry. With the growth of these industries, the prepregs market is certain to grow.

North America is projected to lead the prepregs market and is expected to generate one third of global revenue owing to increased production of airframe and aircraft parts in the aerospace industry. Furthermore, escalating demand for new generation of aircrafts is projected to reflect the growth of prepregs. According to US Aerospace and Defense Report, aerospace industry in 2019 witnessed 9% surge in sales from 2018. Defense exports also increased by 10.5% balancing its decline of 2% in 2018 leading to fuel the adoption of prepregs in the region.

The prepreg market in Europe continues to lead with the aeronautics sector. France emerged as the top importer of America A&D products importing about $14.2 billion in 2019 as per US Aerospace and Defense Report. European defense sector remains a key contributor for security and the turnover in 2019 amounted for 149bn Euros. Military space in Europe accounted for 0.5%, military aeronautics for 18% and also providing employment reaching about 8,90,000 workers.

Rapidly expanding automotive industries in Japan, China and India is a key factor for growth of prepregs in Asia Pacific region. As prepreg is also used to produce wind blades with resin infusion technology, development in wind energy segment in India as government has set a target of installing 175 GW of renewable energy capacity by 2022 and 450 GW by 2030 coming from wind energy is expected to grow the adoption. China is also aiming to increase its wind and solar power to more than 1200 GW by 2030 according to the Global Wind Energy Council. Additionally, improved research and development sector is another factor for boosting the market.

Read Complete Overview Of The Report :

https://www.tmrresearch.com/prepeg-market

Segmentation

Based on Resin Type

  • Thermoset Prepeg
  • Thermoplastic Prepeg

Based on Form

  • Tow Prepeg
  • Fabric Prepeg

Based on Fibre Reinforcement

  • Carbon Fiber Prepeg
  • Glass Fiber Prepeg

Based on Application

  • Aerospace & Defense
  • Automotive
  • Wind Energy
  • Electronics
  • Sporting Goods

Based on Manufacturing Process

  • Hot-Melt Process
  • Solvent Dip Process

Based on Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  1. What are the types of manufacturing process in prepreg?

Hot melt process and solvent dip process.

  1. What are the applications leading to the growth of prepegs?

Aerospace and defense, automotive and wind energy.

  1. What are the types prepregs based on fibre reinforcement?

Carbon fibre and glass fibre prepregs.

  1. What is the classification of prepregs based on resin type?

Thermoset prepeg and thermo plastic prepeg.

  1. What are the leading market players for prepeg?

Plastic Reinforcement Fabrics Ltd. (UK), Toray Industries, Inc. (Japan),  Hexcel Corporation (US), Solvay Group (Belgium).

To know more about the table of contents, you can click @ https://www.tmrresearch.com/sample/sample?flag=T&rep_id=7309

About TMR Research:

TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

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