Global Tow Prepreg Market Forecast (2021 to 2028) - COVID-19 Impact and Analysis
DUBLIN, Sept. 9, 2021 /PRNewswire/ -- The "Tow Prepreg Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Fiber Type, Resin Type, and End-Use Industry" report has been added to ResearchAndMarkets.com's offering.
The global tow prepregs market was valued at US$ 577.15 million in 2019 and is projected to reach US$ 1,544.41 million by 2028; it is expected to grow at a CAGR of 11.56% from 2019 to 2028.
Tow prepregs are composed of glass fiber filament, carbon, and duro plastic resin which acts as a binding material. The expanding applications of tow prepregs across diversified industrial bases along with growing demand for lightweight and cost-efficient materials drive the growth of the tow prepregs market. Rapid urbanization coupled with economic growth and significant investment in research and development activities are also expected to promote the demand for tow prepregs during the forecast period.
Based on end-use industry, the tow prepregs market is segmented into aerospace and defense, automotive and transportation, sports and recreational, oil and gas, and others. The market for the automotive and transportation segment is expected to grow rapidly tow prepregs during the forecasted period. The market growth for this segment is attributed to surging demand for improved materials with environment friendliness and cost-efficiency. With the expansion in the automotive and transportation industry, the demand for prepregs is set to rise. For instance, companies such as Ford Motor Co. are deploying the use of prepregs and other materials in order to produce rear suspension knuckle. Hence, with the rise in demand for prepregs, manufacturers have come up with the better forms of precursors such as tow prepregs. These fiber precursors are preferred over other traditional materials owing to their properties such as tensile strength along with limited curing time, uniformity and consistency, lightweight, and better friction, which make them ideal to be used across various applications in the automotive and transportation industry. Moreover, they can ideally be used to suit the dynamic requirements of the processing industry.
By region, the tow prepregs market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA). Asia Pacific is expected to become the fastest growing market in the global tow prepregs market in forecast period. The market growth tow prepregs in this region is primarily attributed to the presence of strong industrial base along with prominent manufactures significantly contributing to market growth. Further, the growth of automotive and transportation industry backed by the shift in living standards and high growth potential in China, India, and other such economies are significantly propelling the demand for tow prepregs. The rising foreign direct investments along with increasing manufacturing spending toward better product offerings offer lucrative opportunities for the market growth in Asia Pacific. The upsurge in the middle-class population along with growth in urbanization provides drives the growth of the tow prepregs market. The Asia Pacific manufacturing sector is rapidly adopting the innovative accelerators that include advanced technologies and processes. The easy accessibility and availability of raw materials, cheap labor, and low production cost accelerate the market growth in the region.
The COVID-19 pandemic is adversely affecting economies and industries in various countries due to government-imposed lockdowns, travel bans, and business shutdowns. The chemical & materials is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East and Africa has restricted the global supply chain and negatively impacted the manufacturing activities, delivery schedules, and product sales. Furthermore, various companies have already predicted possible delays in product deliveries and slump in future sales of their products. The travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering the activities in the chemical & materials industry, which are restraining the growth of various markets related to this industry. Many countries are now resuming to normalcy, whereas many are experiencing second wave of the outbreak. In addition, due to vaccination drives, situations are changing now across the globe
Arisawa Manufacturing Co., Ltd.; Mitsubishi Chemical Corporation; Red Composites Ltd; SGL Carbon; TCR Composites, Inc.; Teijin Limited; ENEOS Corporation; HEXCEL CORPORATION; PORCHER INDUSTRIES; and TORAY INDUSTRIES, INC. are among the major players operating in the global tow prepregs market.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Tow Prepreg Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Expert Opinion
5. Tow Prepreg Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growth of Automotive and transportation Industry
5.1.2 Surge in Demand for Lightweight and Cost-Efficient Materials
5.2 Market Restraints
5.2.1 High Cost of Carbon Fiber and Other Such Raw Materials
5.3 Market Opportunities
5.3.1 Rising Demand for Tow Prepregs from Diverse Application Bases
5.4 Future Trends
5.4.1 Significant Research and Technological Developments in Tow Prepeg Industry
5.5 Impact Analysis of Drivers and Restraints
6. Tow Prepreg - Global Market Analysis
6.1 Tow Prepreg Market Overview
6.2 Tow Prepreg Market -Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Global Market Players
7. Tow Prepreg Market Analysis - By Fiber type
7.1 Overview
7.2 Tow Prepreg Market, By Fiber type (2019 and 2028)
7.3 Carbon
7.3.1 Overview
7.3.2 Carbon: Tow Prepreg Market - Revenue and Forecast to 2028 (US$ Mn)
7.4 Glass
7.4.1 Overview
7.4.2 Glass: Tow Prepreg Market - Revenue and Forecast to 2028 (US$ Mn)
7.5 Others
7.5.1 Overview
7.5.2 Others: Tow Prepreg Market - Revenue and Forecast to 2028 (US$ Mn)
8. Tow Prepreg Market Analysis - By Resin Type
8.1 Overview
8.2 Tow Prepreg Market, By Resin type (2019 and 2028)
8.3 Epoxy
8.3.1 Overview
8.3.2 Epoxy: Tow Prepreg Market - Revenue and Forecast to 2028 (US$ Mn)
8.4 Phenolic
8.4.1 Overview
8.4.2 Phenolic: Tow Prepreg Market - Revenue and Forecast to 2028 (US$ Mn)
8.5 Others
8.5.1 Overview
8.5.2 Others: Tow Prepreg Market - Revenue and Forecast to 2028 (US$ Mn)
9. Tow Prepreg Market Analysis - By End-Use Industry
9.1 Overview
9.2 Tow Prepreg Market, By End-Use Industry (2019 and 2028)
9.3 Aerospace and Defense
9.3.1 Overview
9.3.2 Aerospace and Defense: Tow prepreg Market - Revenue and Forecast to 2028 (US$ Mn)
9.4 Automotive and Transportation
9.4.1 Overview
9.4.2 Automotive and Transportation: Tow Prepreg Market - Revenue and Forecast to 2028 (US$ Mn)
9.5 Sports and Recreational
9.5.1 Overview
9.5.2 Sports and Recreational: Tow Prepreg Market - Revenue and Forecast to 2028 (US$ Mn)
9.6 Oil and Gas
9.6.1 Overview
9.6.2 Oil and Gas: Tow Prepreg Market - Revenue and Forecast to 2028 (US$ Mn)
9.7 Others
9.7.1 Overview
9.7.2 Others: Tow Prepreg Market - Revenue and Forecast to 2028 (US$ Mn)
10. Tow Prepreg Market - Geographic Analysis
11. Impact of COVID-19 Pandemic on Global Tow Prepregs Market
11.1 Overview
11.2 Impact of COVID-19 on Tow Prepeg Market
11.3 North America: Impact Assessment of COVID-19 Pandemic
11.4 Europe: Impact Assessment of COVID-19 Pandemic
11.5 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.6 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
11.7 South America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Product News
12.2 Mergers and Acquisitions
12.3 Market Initiatives
13. Company Profiles
13.1 Arisawa Manufacturing Co., Ltd.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Mitsubishi Chemical Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Red Composites Ltd
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 SGL Carbon
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 TCR Composites, Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Teijin Limited
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 ENEOS Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 HEXCEL CORPORATION
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 PORCHER INDUSTRIES
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 TORAY INDUSTRIES, INC.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
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