According to a new report published by UnivDatos, the Prepreg Market is expected to grow at a CAGR of around 11% from 2022-2028. The analysis has been segmented into the reinforcement type (carbon fiber, glass fiber, and others); resin type (thermoset and thermoplastic); form (unidirectional and woven); manufacturing process (hot melt, solvent dip, and resin filming); end-user (aerospace & defence, automotive, renewable, sports, electrical & electronics, and others); region/country.
The prepreg market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the market. The market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository estimates the prepreg market at the global and regional levels.
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Market Overview
Industries like aerospace & defence and automotive are investing heavily in the area of high-performance materials that can provide the next level products. The composite-made component is one of the areas where these industries are very serious as composite offers lightweight products without affecting the performance. Prepregs are composite materials in which a reinforcement fiber is pre-impregnated with a thermoplastic or thermoset resin matrix in a certain ratio. It commonly finds application in aerospace & defence, automotive, renewables, sports equipment, and electrical & electronic industries. For instance, in the aerospace & defence industry, it is used in aircraft interiors, aerospace components, aircraft flooring, and cargo liners whereas in the automotive industry, it is used for automobile parts and components, tooling, and ballistic panels. As global industry is continuously working to reduce the final product weight while offering better strength than previous products, therefore, it is expected that the consumption of prepreg would increase in the foreseeable future.
COVID-19 Impact
The recent COVID-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted industrial operations in a negative way, which has impacted the demand for prepreg as its highly dependent on industries’ performance.
The global prepreg market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on reinforcement type, the market is categorized into carbon fiber, glass fiber, and others. Among these, carbon fiber held a significant share of the market. Large base of application area in industries like automotive, aerospace & defence, renewable energy, and sports are maintaining strong demand for carbon fiber prepreg because carbon fiber composites are 70% lighter than steel, 40% lighter than aluminum, and about 15% lighter than fiberglass composites.
· Based on end-user, the market is categorized into aerospace & defence, automotive, renewable, sports, electrical & electronics, and others. Among these, the aerospace & defence industry held the prominent share of the market and is expected to maintain a strong position in the market during the forecast period. The aerospace & defence industry is among the front runners in the adoption of prepreg as it is increasingly focusing on reducing the weight of aircraft, to improve the operation cost. Further, the industry is witnessing huge amount of aircraft backlog therefore the industry is expanding its capabilities to reduce the backlog, thus in turn will required large among of components including prepreg.
Prepreg Market Geographical Segmentation Includes:
· North America (The United States, Canada, and the Rest of North America)
· Europe (Germany, The United Kingdom, France, Italy, Spain, and the Rest of Europe)
· Asia-Pacific (China, India, Japan, and the Rest of Asia-Pacific)
· Rest of the World
The Asia-Pacific region is expected to showcase bolstering growth during the forecast period. The region is among the largest market for some of the biggest consumer of prepregs like automotive, aerospace & defence, renewable, and electrical electronics. Besides this, increasing investment in the regional economies to cater the growing population and increasing demand among consumers for high quality products due to rising income are some of the factors which is likely to maintain strong growth for prepregs in the foreseeable future. Moreover, rising cost of production in western economies is making other region non-competitive to the Asia-Pacific economies.
The major players targeting the market include
· Hexcel Corporation
· Toray Industries Inc.
· SGL Carbon SE
· Axiom Materials Inc.
· Solvay S.A.
· Teijin Limited
· Mitsubishi Chemical Corporation
· Gurit Holding AG
· Park Aerospace Corp.
· Victrex plc.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Click Here To View the Report Description & TOC – https://univdatos.com/report/prepreg-market/
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the prepreg market?
• Which factors are influencing the prepreg market over the forecast period?
• What are the global challenges, threats, and risks in the prepreg market?
• Which factors are propelling and restraining the prepreg market?
• What are the demanding global regions of the prepreg market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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