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MARKET OUTLOOK 

As per Triton Market Research, the prepreg market in North America is anticipated to develop with a CAGR of 8.67% by revenue, over the forecast years from 2021 to 2028. The United States and Canada together form the market in this region.

The manufacturing industry in Canada is growing rapidly. This can be attributed to the lucrative business policies for both domestic as well as global players and a strong R&D infrastructure across the country. These factors are favoring the demand for prepregs. In 2017, the consumer electronics industry witnessed rapid growth, owing to the increasing opportunities from key product categories like mobile phones, laptops, smart wearables, etc., as Canadians highly value product innovation. 

The automotive industry is also witnessing some positive developments. For instance, Ford Motor Co established its R&D center in Ottawa, as part of its $1.2 billion investment. Also, the Canadian automotive industry has integrated with NAFTA to boost its manufacturing activities and increase exports. In 2019, the aerospace industry in Canada contributed more than $25 billion to the national GDP. It exports over 70% of its products to more than 190 countries across six continents.

Further, in 2019, Canada accounted for 13,413 MW of wind energy capacity, which can power approximately 3.4 million homes. It also completed five projects, representing an investment of more than $1 billion, which added 597 MW of new installed capacity. Canada has the eighth-largest wind generating fleet in the world. Owing to these factors, the adoption of prepregs has increased rapidly over the past few years, which is benefiting the market growth. 

COMPETITIVE OUTLOOK

The dominant players in the prepreg market are Axiom Materials, Royal Ten Cate NV, Toray Industries Inc, Unicarbon, Zyvex Labs, Mitsubishi Rayon Co Ltd, Gurit Holding AG, and Park Electrochemical Corp.