Prepreg Global Market Report 2023

NEW YORK, March 28, 2023 /PRNewswire/ -- Major players in the prepreg market are Axiom Materials Inc., Gurit Holding AG, Hexcel Corporation, Mitsubishi Chemical Carbon Fiber And Composites Inc., Park Aerospace Corporation, Solvay S.A, Teijin Limited, Toray Industries Inc., Plastic Reinforcement Fabrics Ltd., Rock West Composites Inc., SHD Composite Materials Ltd., GMS Composites, ACP Composites Inc., Celanese Corporation, and SGL Group SE.

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The global prepreg market grew from $7.72 billion in 2022 to $8.69 billion in 2023 at a compound annual growth rate (CAGR) of 12.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The prepreg market is expected to grow to $13.58 billion in 2027 at a CAGR of 11.8%.

The prepreg market consists of sales of fiberglass, carbon fiber, and aramid.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Prepreg refers to composite materials in which a reinforcing fibre is pre-impregnated in a certain ratio with a thermoplastic or thermoset resin matrix.These materials are used in making aircraft and automotive interiors and components, A/C ducting, electronic-transmission applications, sporting goods, carbon-carbon composites, high-rise flooring, flame retardant laminates, UAVs, and seatbacks.

Its properties include high strength, consistency and repeatability, minimal waste, and short curing time.

North America was the largest region in the prepreg market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this prepreg market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main types of prepreg are carbon fibre prepreg, glass fibre prepreg, and other types of fibre reinforcement.Glass fibre prepreg refers to composite materials such as carbon, graphite, or glass fibres that are "pre-impregnated" with resins and then cured.

The forms are tow prepreg and fabric prepreg.The manufacturing process is the hot-melt process and solvent dip process.

The various applications involved aerospace and defense, wind energy, automotive, sporting goods, electronics (PCB), and other applications.

Growing automotive production is expected to propel the growth of the prepreg market going forward.Automotive refers to the design, operation, manufacture, or sale of automobiles.

Prepregs are used for high-performance applications in industries like aerospace, defence, automotive, sports, and wind energy. For instance, in 2021, according to ACEA, a Belgium-based association of the automobile industry, 79.1 million motor vehicles were produced around the world, an increase of 1.3% compared to 2020. Therefore, growing automotive production is driving the growth of the prepreg market.

Technological advancements are a key trend gaining significant popularity in the prepreg market.Major companies operating in the prepreg market are focused on developing new technological solutions to strengthen their position.

For instance, in February 2020, Solvay, a Belgium-based company operating in prepreg, launched CYCOM® EP2750, a market-first technology that enables the high-rate, cost-effective manufacture of aerospace structural parts.This includes advanced continuous fibre prepreg materials and process characteristics required for achieving aerospace quality and performance using compression moulding processing technology.

This advanced prepreg has been applied to both primary and secondary structures and is compatible with multiple reinforcements and provides high-notched compression properties.

In August 2020, Mitsubishi Chemical Corporation, a Japan-based chemical company that manufactures advanced polymers, composites, petrochemicals, carbon, and industrial gases, acquired C-m-p GmbH for an undisclosed amount.The acquisition is aimed at strengthening Mitsubishi Chemical Corporation's presence in the carbon fibre composite material business and enhancing its capacity to produce carbon fibre composite materials in Europe.

C-m-p GmbH is a German-based company that manufactures prepregs.

The countries covered in the prepreg market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The prepreg market research report is one of a series of new reports that provides prepreg market statistics, including prepreg industry global market size, regional shares, competitors with a prepreg market share, detailed prepreg market segments, market trends, and opportunities, and any further data you may need to thrive in the prepreg industry. This prepreg market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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