Prepreg Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Reinforcement Type (Carbon Fiber, Glass Fiber, and Others); Resin Type (Thermoset and Thermoplastic); Form (Unidirectional and Woven); Manufacturing Process (Hot Melt, Solvent Dip, and Resin Filming); End-User (Aerospace & Defence, Automotive, Renewable, Sports, Electrical & Electronics, and Others); Region and Country
The global prepreg market is likely to showcase a growth of around 11% during the forecast period 2022-2028. Industries like aerospace & defence and automotive are investing heavily in the area of high-performance materials that can provide the next level products. The composite-made component is one of the areas where these industries are very serious as composite offers lightweight products without affecting the performance. Prepregs are composite materials in which a reinforcement fiber is pre-impregnated with a thermoplastic or thermoset resin matrix in a certain ratio. It commonly finds application in aerospace & defence, automotive, renewables, sports equipment, and electrical & electronic industries. For instance, in the aerospace & defence industry, it is used in aircraft interiors, aerospace components, aircraft flooring, and cargo liners whereas in the automotive industry, it is used for automobile parts and components, tooling, and ballistic panels. As global industry is continuously working to reduce the final product weight while offering better strength then previous products, therefore, it is expected that the consumption of prepreg would increase in the foreseeable future.
Insights Presented in the Report
“Amongst reinforcement type, carbon fiber held the prominent share of the market in 2020”
Based on reinforcement type, the market is categorized into carbon fiber, glass fiber, and others. Among these, carbon fiber held a significant share of the market. Large base of application area in industries like automotive, aerospace & defence, renewable energy, and sports are maintaining strong demand for carbon fiber prepreg because carbon fiber composites are 70% lighter than steel, 40% lighter than aluminum, and about 15% lighter than fiberglass composites.
“Amongst end-user, aerospace & defence category held a prominent share in the market in 2020”
Based on end-user, the market is categorized into aerospace & defence, automotive, renewable, sports, electrical & electronics, and others. Among these, the aerospace & defence industry held the prominent share of the market and is expected to maintain a strong position in the market during the forecast period. The aerospace & defence industry is among the front runners in the adoption of prepreg as it is increasingly focusing on reducing the weight of aircraft, to improve the operation cost. Further, the industry is witnessing huge amount of aircraft backlog therefore the industry is expanding its capabilities to reduce the backlog, thus in turn will required large among of components including prepreg.
“Asia-Pacific is likely to showcase significant growth during the forecast period”
For a better understanding of the market adoption of prepreg, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and Rest of World. The Asia-Pacific region is expected to showcase bolstering growth during the forecast period. The region is among the largest market for some of the biggest consumer of prepregs like automotive, aerospace & defence, renewable, and electrical electronics. Besides this, increasing investment in the regional economies to cater the growing population and increasing demand among consumers for high quality products due to rising income are some of the factors which is likely to maintain strong growth for prepregs in the foreseeable future. Moreover, rising cost of production in western economies is making other region non-competitive to the Asia-Pacific economies.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive country-level analysis of the industry
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|2.1.||Research Process of the Prepreg Market|
|2.2.||Research Methodology of the Prepreg Market|
|5||IMPACT OF COVID-19 ON THE PREPREG MARKET|
|6||PREPREG MARKET REVENUE (USD MN), 2020-2028F|
|11.1.||Aerospace & Defence|
|11.5.||Electrical & Electronics|
|12.1.1.||The United States|
|12.1.3.||Rest of North America|
|12.2.2.||The United Kingdom|
|12.2.6.||Rest of Europe|
|12.3.4.||Rest of Asia-Pacific|
|12.4.||Rest of World|
|14||PREPREG MARKET OPPORTUNITIES|
|15||PREPREG MARKET TRENDS|
|16.1.||Demand Side Analysis|
|16.2.||Supply Side Analysis|
|17||VALUE CHAIN ANALYSIS|
|20.1.1.||Porters Fiver Forces Analysis|
|21.2.||Toray Industries Inc.|
|21.3.||SGL Carbon SE|
|21.4.||Axiom Materials Inc.|
|21.7.||Mitsubishi Chemical Corporation|
|21.8.||Gurit Holding AG|
|21.9.||Park Aerospace Corp.|
Research Methodology for Global Prepreg Market Analysis (2020-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of prepreg, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of prepreg through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the prepreg market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by reinforcement type, resin type, form, manufacturing process, and end-user. Further regional and country-level analyses were conducted to evaluate the overall adoption of Prepreg globally.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of prepreg. Further, we conducted factor analysis using dependent and independent variables such as the increasing demand for high-performance material with lightweight properties. A thorough analysis was conducted of demand and supply-side scenarios considering the increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the Prepreg industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of prepreg across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Prepreg market. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants by Stakeholders and Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Prepreg market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of the reinforcement type, resin type, form, manufacturing process, and end-user.
The main objective of the prepreg market study
The current & future market trends of global prepreg were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of prepreg in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include the area of the reinforcement type, resin type, form, manufacturing process, and end-user
- Defined analysis of the regulatory framework for the prepreg industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of prepreg for the major countries
- Major regions/countries analyzed in the report include North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), and Rest of World
- Company profiles of the prepreg market players and the growth strategies adopted by them to sustain the growing market
Deep dive country-level analysis of the industry