Global Thermoplastic Prepreg Markets, 2012-2017 & 2018-2023 Featuring Arkema S.A, Cytec Solvay Group, Koninklijke TenCate, Lanxess A.G, SABIC & Teijin Group
DUBLIN, April 26, 2019 /PRNewswire/ -- The "Thermoplastic Prepreg Market by End-Use Industry Type, by Resin Type, by Fiber Type, by Product Form Type, by Process Type, and by Region, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023" report has been added to ResearchAndMarkets.com's offering.
This report studies the global thermoplastic prepreg market over the trend period of 2012 and 2017 and the forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Thermoplastic Prepreg Market: Highlights
Thermoset prepregs have been enjoying a long and marvelous history of more than four decades in the aerospace & defense industry. Thermoplastic prepregs offer a series of advantages including faster part cycle time, recyclability, easy to fabricate, and excellent mechanical properties. Major aircraft OEMs such as Boeing, Airbus, and Gulfstream have efficaciously started utilizing the potential of thermoplastic composites from tail to wings to fuselage components in their latest aircraft.
The penetration of thermoplastic composites is not likely to stop here and will rise in future with the advancement of material, technology, and processes. Major thermoplastic prepreg manufacturers are keenly working with tier players and OEMs in order to develop new applications using thermoplastic prepregs.
Thermoplastic prepregs currently account for less than 5% of the global prepreg market; however, it is likely to grow at a faster rate than the overall prepreg market in the coming five years, driven by aerospace & defense and automotive industries. The global thermoplastic prepreg market is projected to grow at an impressive rate over the next five years to reach an estimated value of US$ 193.1 million in 2023.
Increasing production rates of thermoplastic composite rich next-generation aircraft, such as B787 and A350XWB; rising demand for lightweight recyclable parts; reduced part cycle time coupled with lower-processing cost of thermoplastic composite parts as compared to thermoset composite parts; stringent regulations regarding fuel efficiency and carbon emissions in the aerospace and automotive industries are some of the key factors that are burgeoning the demand for thermoplastic prepregs globally.
The market is segmented based on the end-use industry type as aerospace & defense, consumer goods, automotive and others. Aerospace & defense is projected to remain the most dominant segment of the market during the forecast period. Increasing production of commercial aircraft coupled with an increase in penetration of thermoplastic composites, especially in composite-rich aircraft programs, such as B787 and A350XWB is likely to fuel the growth of the segment in the coming years. Clips and cleats used in fuselage are the major applications of thermoplastic prepreg in these aircraft programs.
Based on the resin type, PPS resin dominates the market and is expected to maintain its dominance during the forecast period as well. PPS resin has good dimensional stability even at elevated temperatures and in harsh chemical environment. It also has the advantage of molding complex parts easily and with a tight tolerance. Also, the resin type finds usage in various aircraft applications, especially in airframe. The aircraft industry is also showing a sheer interest in PEEK-based thermoplastic prepregs.
Based on the fiber type, carbon fiber is projected to remain the larger segment of the global thermoplastic prepreg market during the forecast period. The fiber offers numerous advantages, such as excellent weight reduction, high strength-to-weight ratio, high tensile and compressive strength, low coefficient of thermal expansion, and high fatigue resistance, but at very high cost. Major thermoplastic composite applications in an aircraft, such as clips and cleats, are fabricated with carbon fiber-based thermoplastic prepregs.
Based on the product form type, the global thermoplastic prepreg market is classified as unidirectional prepreg and fabric prepreg. Unidirectional prepreg is likely to remain the larger segment of the global thermoplastic prepreg market during the forecast period, owing to its low cost. The product type is also considered suitable for aircraft structural applications requiring high strength at one direction.
Based on the manufacturing process type, the market is classified as compression molding, injection molding, AFP (Automated Fibre Placement)/ATL (Automated Tape Layup), and others. Compression molding is the most dominant process type in the market. The process offers faster part cycle time, reduced part wastage, and reduced defects, which overall leads to a lower part cost.
AFP/ATL is likely to be the fastest-growing process type during the forecast period, driven by increasing demand for an automated process that can layup prepreg at a faster rate than the manual layup process and generates low void content.
Based on regions, Europe is expected to remain the largest thermoplastic prepreg market during the forecast period. Airbus is one of the major consumers of thermoplastic prepregs in Europe. Major thermoplastic component manufacturers have set up their manufacturing plants in the region in order to be proximal with Airbus assembly plants to fulfill its current and future requirements of composite parts made with thermoplastic prepregs.
North America accounted for the second largest share in the thermoplastic prepreg market and is expected to maintain its position in the coming five years as well. Boeing and Gulfstream Aerospace are the major OEMs, which are likely to drive the demand for thermoplastic composite parts in the region.
The supply chain of this market comprises raw material suppliers, thermoplastic prepreg manufacturers, distributors, thermoplastic composite component manufacturers, OEMs, and MRO companies. The key thermoplastic prepreg manufacturers include Cytec Solvay Group, Koninklijke TenCate nv, Lanxess A.G, SABIC, and Teijin Group (Toho Tenax).
Some of the major end-users in the thermoplastic prepreg market include Airbus, Boeing, Gulfstream Aerospace, Dassault Aviation, Lenovo, and Hewlett-Packard (HP). Formation of long-term contracts, application development, and development of innovative products are some of the key strategies adopted by the major players in order to gain a competitive edge in the market.
The key growth drivers of the global thermoplastic prepreg market are:
- Increasing commercial aircraft deliveries
- Increasing production rates of next-generation aircraft (A350XWB and B787) programs
- Increasing penetration of thermoplastic composites in different aircraft types
- Rising demand for lightweight and reusable parts in automotive, consumer goods and oil & gas industry
- Low processing cost of thermoplastic vs thermoset composites
- Reduction in number of parts and faster manufacturing cycle
Key Topics
1. Executive Summary
2. Thermoplastic Prepreg Market - Overview and Market Forces
3 Thermoplastic Prepreg Market Analysis - By End-Use Industry Type
4 Thermoplastic Prepreg Market Analysis - By Resin Type
5 Thermoplastic Prepreg Market Analysis - By Fiber Type
6 Thermoplastic Prepreg Market Analysis - By Product Form Type
7 Thermoplastic Prepreg Market Analysis - By Process Type
8 Thermoplastic Prepreg Market Analysis - By Region
9 Competitive Analysis
10 Strategic Growth Opportunities
Companies Mentioned
- Arkema S.A
- Cytec Solvay Group
- Koninklijke TenCate nv
- Lanxess A.G
- SABIC
- Teijin Group (Toho Tenax)
For more information about this report visit https://www.researchandmarkets.com/r/f2k7f5
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