Increasing Adoption of Prepregs in the Aerospace Sector Provides Opportunities for Market Leaders (Hexcel and Gurit) to Establish Footprint in Developing Economies
HYDERABAD, India, September 28, 2016 /PRNewswire/ --
Mordor Intelligence announces the publication of their research report on the prepreg market. The report titled, "Global Prepreg Market - Segmented by Resin Type, By Fiber Type, End-User Industry, and Geography - Trends and Forecasts," discusses the current landscape and outlook of the said market.
The prepreg market was estimated at USD 4.34 billion in 2015 and is projected to reach USD XX billion by 2021, at a CAGR of over 10% during the forecast period. North America was the largest market for prepreg in 2015, followed by Asia Pacific and Europe.
Factors driving this market are demand from aerospace and defense sector, emphasis on green energy sources (wind energy sector) and growth of the global automotive industry. However, this market faces certain drawbacks, such as premium pricing of prepregs, limited shelf life and autoclave and maintenance constraints. These factors may act as a roadblock to the growth of the market.
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Our report on prepreg market is segmented as follows:
- By Resin Type
- Thermosetting
- Thermoplastic
- By Fiber Type
- Carbon
- Glass
- Aramid
- By End-User Industry
- Aerospace & Defense
- Automotive
- Electrical & Electronics
- Wind Turbines
- Leisure
- Others
- By Region
- Asia-Pacific
- Europe
- North America
- South America
- Middle-East and Africa
The aerospace & defense industry dominated the global prepreg market accounting for over 32% of the global market. North America dominates the global prepreg market, owing to the huge demand from the aerospace sector in the region. It is expected to dominate the market for the next five years and is expected to be the fastest growing market during the forecast period. US accounts for the highest market share by country. Asia-pacific holds the second highest share in the market and is expected to grow considerably during the forecast period.
Some of the key market players profiled in the report include: Hexcel Corporation, Gurit, Toray Industries, Inc., Mitsubishi Rayon Co., Ltd., Cytec Solvay Group, Teijin Limited, The Yokohama Rubber Co., Ltd., and others.
About Mordor Intelligence:
Mordor Intelligence is a global market research and consulting firm. Our focus is to provide research insights to facilitate business success. Our research expertise covers niche segments under Agriculture, Healthcare, ICT, Chemicals, Manufacturing, Logistics, Electronics and Automotive, among others. We believe in data, and we provide solutions through it. Optimum solutions and goal-oriented strategies define our endeavors and make us the preferred choice for clients.
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