< Key Hightlight >

MARKET OUTLOOK

The global prepreg market is expected to rise with a CAGR of 9.19% in the estimated period 2021-2028.

The increased demand for prepregs by the aerospace industry is primarily driving the growth of the market. In addition, the efforts of manufacturers towards reducing carbon footprints along with the development of the wind energy market are further adding to the growth of the prepreg market.

On the contrary, the low shelf life of these materials compared to conventional resin fibers and their high cost are hindering the process of development. Besides, the complexities concerning the MRO requirements of prepregs are also another challenge to the market’s growth.

However, the rising usage towards using lightweight materials in sporting goods presents a lucrative opportunity for the adoption of prepregs. Also, an increased demand for carbon fiber prepregs is being seen, which is expected to aid the market reach the projected growth over the coming years.

REGIONAL OUTLOOK

The Middle East and Africa, Europe, Latin America, the Asia-Pacific, and North America together shape the global market for prepreg.

The market in the Asia-Pacific is expected to grow at the fastest rate, globally, over the forecasting period. The region comprises several developed as well as developing economies like China, Japan, Australia, India, and South Korea, among others. These emerging nations are witnessing rapid growth in urbanization and industrialization, with the increase in the middle-class population. These factors are aiding the demand for prepregs in the APAC. Further, the region also offers ample opportunities to the key players in the industry. This is also fostering the growth of the Asia-Pacific prepreg market.

COMPETITIVE OUTLOOK

Some of the major players operating in the prepreg market include Hexcel Corporation, Teijin Limited, Unicarbon, Cytec Solvay Group, SGL Group, Park Electrochemical Corp, Renegade Materials Corporation, Celanese, Axiom Materials, Mitsubishi Rayon Co Ltd, Gurit Holding AG, Royal Ten Cate NV, Ventec Group, Toray Industries Inc, and Zyvex Labs.

Cytec Solvay Group is a specialty chemicals and materials technology company. It produces plastics, resins, and composite materials, particularly for users in the aerospace industry. The company offers its prepreg products under the MTM®, HTM®, VTM®, CYCOM®, DForm®, and the CYFORM® brand series. In December 2015, Solvay completed the acquisition of Cytec for $5.5 billion. Cytec Solvay has a global presence, and conducts its business operations in North America, Europe, Latin America, Australia, and Asia.