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MARKET OUTLOOK

Triton Market Research has stated that the prepreg market in Latin America is likely to grow with a CAGR of 9.10% over the forecast years from 2021 to 2028. Brazil, Mexico, and Rest of Latin America together comprise the market in this region.

Brazil has witnessed notable growth in its aircraft manufacturing activities, primarily due to the presence of aircraft manufacturers like Embraer. The company even formed a joint venture with Boeing for developing commercial aircraft worth $4.2 billion, in January 2019.

Besides, there are deliveries of new & more fuel-efficient single-aisle airplanes to Brazilian airlines lined up, including GOL. Owing to these developments, operational commercial fleets are expected to increase. This is projected to drive the demand for prepregs in the country, which will drive the market growth further over the forecast period.

Further, the automotive industry in Brazil also shows a positive outlook. In 2017, it registered a growth of 25.20%, with 2,699,672 vehicle units being manufactured that year. Also, there is a rise in investments from large automotive manufacturers. For instance, General Motors invested $4.06 billion for the period between 2014 and 2020. The growth in the automotive industry is expected to fuel the demand for prepregs in the country. This will propel the growth of the studied market in the coming years.

COMPETITIVE OUTLOOK

Park Electrochemical Corp, Royal Ten Cate NV, Zyvex Labs, Mitsubishi Rayon Co Ltd, Gurit Holding AG, Hexcel Corporation, Cytec Solvay Group, and Unicarbon are some of the prominent names present in the prepreg market.