< Key Hightlight >

MARKET OUTLOOK 

Europe’s prepreg market is anticipated to exhibit growth with a CAGR of 9.23% over the projected duration between 2021 and 2028. France, Germany, Italy, Russia, the United Kingdom, Spain, and Rest of Europe together form the market in this region.

The aerospace industry in Spain contributes nearly 5.8% to the national industrial GDP. Additionally, there are around 350 players in the aerospace sector, of which 335 are SMEs. Aernnova, Airbus, Alestis, Sener, and Thales are some of the leading players in this industry. Also, the government has increased the incentives for SMEs in aerospace to improve their production lines. 

Several companies have been making investments in aerospace composites like titanium and carbon fiber, making Spain one of the most preferred and technologically advanced destinations for aircraft manufacturers. There is a growing demand for prepregs in the aerospace industry, and its development is expected to foster the industry growth in the coming years.

Italy has the fourth-largest automobile industry in the European Union. In 2017, it manufactured 1.142 million new vehicles, representing a rise of 3.5% from the preceding year. Foreign brands account for 71% of the companies in the Italian automotive market, which shows that there is a growing interest from global players to establish their presence here. The steady growth in automotive production, coupled with improvements in production technologies, are anticipated to bolster the demand for prepregs over the forthcoming years. This, in turn, will strengthen the prepreg market’s development in Italy.

COMPETITIVE OUTLOOK

The leading competitors in the prepreg market include Royal Ten Cate NV, Ventec Group, Cytec Solvay Group, Mitsubishi Rayon Co Ltd, Park Electrochemical Corp, Teijin Limited, Axiom Materials, and Celanese.