Prepreg Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Prepreg Market Analysis
The global prepreg market is expected to record a CAGR of over 4%during the forecast period. Prepregs are composites, impregnated with reinforcement fibers that provide several advantages, such as corrosion resistance, higher strength-to-weight ratio, lower maintenance, and longer lifecycle, in comparison to traditional counterparts of steel and aluminum.
- The market ismajorly driven by the rising demand from wind energy and aerospace and defense applications.
- Autoclave and maintenance constraints are expected to hinder the markets growth.
- Narrowing supply-demand gap andtechnical advancements in prepreg product development are likely to act as an opportunity to the global prepreg market over the forecast period.
Prepreg Market Trends
This section covers the major market trends shaping the Prepreg Market according to our research experts:
The Aerospace and Defense Industry to Drive the Market
- Owing to the superior strength-to-weight ratio of prepregs, there is a high demand for prepregs in the aerospace sector. Prepregs (especially carbon prepregs) are increasingly being used to replace their metal counterparts, to manufacture interior and exterior structures, as the specific strength and modulus of the former are higher than most metallic alloys.
- Increased expenditure on specialized military equipment in the defense sector, due to the current increase in defense budgets and the resurgence of global security threats in key nations (such as the United Kingdom, France, Japan, and several Middle Eastern countries), is expected to boost the demand for prepregs.
- Robust increases of global revenue passenger kilometers (RPKs), year over year, are leading to an unprecedented level of aircraft production rates.
- Overall, a steady growth rate in the aerospace industry and increased applications of prepregs in military applications provide a great opportunity and growth potential for prepreg manufacturers.
The United States to dominate the North America Market
- The United States is the world’s largest and most powerful economy in the world. The aerospace and the defense sectors of the United States are the largest in the world. Defense budgets are increasing with the rising global tensions, in order to equip the armed forces with modern platforms.
- More spending in the defense and aerospace sector is likely to be seen in the coming years, which, in turn, is expected to drive the demand for prepreg in the United States.
- Major players in the United States are expected to increase their investments in the development of advanced prepregs for use in newer applications in industrial sectors, which is likely to lead to increased consumption of prepregs in the future.
- The automotive market of the United States (which is one of the largest in the world) has currently slowed down, while it is expected to grow at a moderately high rate in the forecast period. The light commercial vehicles market is expected to grow at a moderately low rate during the forecast period. It is expected to significantly drive the prepeg market.
Prepreg Industry Overview
The global prepreg market is consolidated in nature. The major companies include Axiom Materials, Mitsubishi Chemical Carbon Fiber and Composites Inc., Solvay, Hexcel Corporation, and, TEIJIN LIMITED among others.
Prepreg Market Leaders
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AXIOM MATERIALS
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TEIJIN LIMITED
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Hexcel Corporation
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Solvay
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Mitsubishi Chemical Carbon Fiber and Composites, Inc.
*Disclaimer: Major Players sorted in no particular order
Prepreg Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Growing Demand from the Aerospace and Defense Sector
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4.1.2 Growing Demand from the Wind Sector
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4.1.3 Increased Adoption of Carbon Prepreg
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4.2 Restraints
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4.2.1 Autoclave and Maintenance Constraints
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4.3 Industry Value-chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Resin Type
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5.1.1 Thermoset
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5.1.2 Thermoplastic
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5.2 Fiber Type
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5.2.1 Carbon
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5.2.2 Glass
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5.2.3 Aramid
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5.3 End-user Industry
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5.3.1 Aerospace and Defense
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5.3.2 Automotive
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5.3.3 Electrical and Electronics
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5.3.4 Wind Turbine
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5.3.5 Leisure
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5.3.6 Other End-user Industries
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5.4 Geography
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5.4.1 Asia-Pacific
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5.4.1.1 China
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5.4.1.2 India
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5.4.1.3 Japan
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5.4.1.4 South Korea
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5.4.1.5 Rest of Asia-Pacific
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5.4.2 North America
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5.4.2.1 United States
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5.4.2.2 Canada
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5.4.2.3 Mexico
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5.4.3 Europe
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5.4.3.1 Germany
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5.4.3.2 United Kingdom
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5.4.3.3 Italy
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5.4.3.4 France
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5.4.3.5 Rest of Europe
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5.4.4 South America
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5.4.4.1 Brazil
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5.4.4.2 Argentina
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5.4.4.3 Rest of South America
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5.4.5 Middle East & Africa
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5.4.5.1 Saudi Arabia
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5.4.5.2 South Africa
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5.4.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Axiom Materials
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6.4.2 Composite Resources Inc.
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6.4.3 Gurit
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6.4.4 Hexcel Corporation
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6.4.5 Isola Group
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6.4.6 Koninklijke Ten Cate BV
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6.4.7 Mitsubishi Chemical Carbon Fiber and Composites Inc.
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6.4.8 Park Eletrochemical Corp.
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6.4.9 Renegade Materials Corporation
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6.4.10 SGL Carbon
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6.4.11 Solvay
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6.4.12 Sunrez Corporation
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6.4.13 TEIJIN LIMITED
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6.4.14 Toray Industries Inc.
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6.4.15 Ventec International Group
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6.4.16 Yokohama Aerospace America Inc.
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6.4.17 Zoltek
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Narrowing Supply-Demand Gap
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7.2 Technical Advancements in Prepreg Product Development
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Prepreg Industry Segmentation
The global prepreg market report includes:
| Resin Type | |
| Thermoset | |
| Thermoplastic |
| Fiber Type | |
| Carbon | |
| Glass | |
| Aramid |
| End-user Industry | |
| Aerospace and Defense | |
| Automotive | |
| Electrical and Electronics | |
| Wind Turbine | |
| Leisure | |
| Other End-user Industries |
| Geography | |||||||
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Prepreg Market Research FAQs
What is the current Prepreg Market size?
The Prepreg Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Prepreg Market?
AXIOM MATERIALS, TEIJIN LIMITED, Hexcel Corporation, Solvay and Mitsubishi Chemical Carbon Fiber and Composites, Inc. are the major companies operating in the Prepreg Market.
Which is the fastest growing region in Prepreg Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Prepreg Market?
In 2024, the Asia Pacific accounts for the largest market share in Prepreg Market.
What years does this Prepreg Market cover?
The report covers the Prepreg Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Prepreg Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Prepreg Industry Report
Statistics for the 2024 Prepreg market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Prepreg analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
