NEW YORK, Aug. 31, 2016 /PRNewswire/ -- "The prepreg market projected to grow at a CAGR of 10.12%"
The prepreg market size is projected to reach USD 8.64 billion by 2021, registering a CAGR of 10.12% between 2016 and 2021. The major drivers stimulating the growth of the prepreg market are increasing demand for lightweight and high performance materials in the aerospace & defense, wind energy, sporting goods, and automotive industries.
"Aerospace & Defense: The largest application segment in the prepreg market, in terms value"
The key drivers of prepreg in aerospace & defense industry are the global increase in the number of airplane deliveries in the near future, high performance properties such as lightweight, excellent safety & acoustic features, and government regulations. To comply with regulatory norms, aerospace manufacturers such as Boeing (U.S.), Airbus (France), and GE Aviation (U.S.), have started using prepreg to manufacture primary and secondary structures and interior components of aircrafts. Thus, aerospace application would be the most profitable investment pocket for stakeholders.
"Asia-Pacific: The fastest-growing market of prepreg"
Asia-Pacific is expected to be the fastest-growing market for prepreg in the next five years owing to the growth in number of wind capacities installed as well as increased number of airplane deliveries. Similarly, new product developments by various leading players are also leading to the growth of the prepreg market in this region. China leads the prepreg market in Asia-Pacific. Its consumption of prepreg has grown remarkably due to growth in the wind energy, sporting goods, and aerospace & defense industries.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into following three categories:
- By company type - Tier 1 - 35%, Tier 2 - 25%, and Tier 3 - 40%
- By designation - C Level - 30%, Director Level - 25%, and Others - 45%
- By region - North America - 30%, Europe - 25%, Asia-Pacific - 30%, Latin America - 10% and the Middle East & Africa - 5%
The report provides comprehensive analysis of company profiles which include:
- Royal Ten Cate N.V. (Netherland)
- Toray Industries, Ltd. (Japan)
- Teijin Ltd. (Japan)
- Hexcel Corporation (U.S.)
- SGL group (Germany)
- Gurit Holding AG. (Switzerland)
- Solvay SA Group (Belgium)
- Park Electrochemical Corp. (U.S.)
- Mitsubishi Rayon Co. Ltd.
- Axiom Materials (U.S.)
Reasons to buy the report
The report will help the leaders/new entrants in this market in the following ways:
1. This report segments the prepreg market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report will help stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. It will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, agreements & partnerships, and acquisitions.
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