Global Aramid Prepreg Market - 2022-2029

Global Aramid Prepreg Market - 2022-2029

Market Overview

The global aramid prepreg market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Prepreg is an integrated material composed of a partially cured polymer matrix and pre-impregnated fibers such as phenolic resin, epoxy resins or thermoplastics mixed with liquid rubbers. The aramid prepreg market's future looks bright for opportunities in commercial, military/defense, aerospace, sports, maritime, wind energy, engineering and other industries.

Prepreg in aerospace, automotive, and other industries has increased dramatically. As a result, prepreg compounds account for more than half of the weight in constructing large transport aircraft. Prepregs are commonly used by experienced fabricators who want to reduce the weight of their parts. Aerospace, racing, sporting goods, pressure vessels and commercial products are typical applications.

Thermoplastic prepregs are thermoplastic resin-impregnated composite reinforcements (fiberglass, carbon fiber, aramid, etc.). Aramid is excellent resistant to organic solvents and has excellent heat and low flammability resistance. Aramid prepreg is created by infusing para-aramid fiber fabrics with a precise amount of epoxy resin.

Market Dynamics

The market is driven by rising demand for lightweight and flexible materials from the automotive, military & defense industries for various applications. Furthermore, carbon-reduction regulations compel several industry players to seek alternative lightweight, strong and fuel-efficient materials. It is expected further to drive the aramid prepreg market during the forecast period. On the contrary, aramid prepreg's high R&D costs and non-biodegradability impede the market growth.

Increasing need for lightweight materials offering significant emission reduction in vehicles

As prepregs have a higher specific strength and modulus than most metallic alloys, they are increasingly being used to replace their metal counterparts in fabricating interior and exterior structures. Aramid prepregs are increasingly used in the automotive industry due to their superior strength-to-weight ratio. Aramid prepregs are used in various automotive applications, including hoses, diaphragms, railroad car connection membranes, anti-lock braking systems and wheel wells.

The global automotive industry has expanded in recent years. However, the global automotive industry has seen a 1.1 percent drop in production in recent years. A passenger vehicle emits approximately 4.7 metric tons of CO2 per year, according to U.S. Environmental Protection Agency (EPA). As a result, governments worldwide emphasize the importance of stringent environmental regulations. U.S. EPA modified and enforced several standards for reducing vehicular emissions regularly.

Moreover, the European Union (EU) has imposed stringent rules that manufacturers of passenger and light-duty vehicles must follow by 2020 under the EU light-duty vehicle CO2 regulation. The EU regulation set a target of reducing CO2 emissions by 3.1 percent per year between 2017 and 2020. A compulsory CO2 emission standard for new passenger cars, light commercial vehicles and heavy-duty vehicles CO2 standards was proposed in 2018. The stringent regulations reduce vehicle emissions, driving the demand for lightweight materials that significantly reduce vehicle emissions.

Growing aerospace and defense sector

Aramid prepreg is suitable for structural applications in aircraft, including hot air balloons, spacecraft, fighter planes, passenger airlines and space shuttles. Commercial flights continuously improve performance and increase fuel efficiency as fuel costs rise. Because aramid is lightweight, it has been proposed as the best solution for improving fuel efficiency.

Furthermore, growing security concerns worldwide have made aircraft the preferred mode of transportation. As a result, the use of aramid prepreg in aircraft is increasing because it provides corrosion and impact resistance. It also offers temperature stability, durability and improved vision systems.

High costs of production and investment in R&D

Aramid prepregs are high-performance materials used in composites with high load-bearing capacity, high mechanical & chemical strength, excellent thermal resistance and lightweight materials. As a result, the fibers necessitate extensive R&D to deliver high-quality products for a wide range of applications, including security & protection and industrial filtration. However, R&D costs in terms of man-hours, materials and technology are extremely high, stifling the growth of the aramid prepreg market.

COVID-19 Impact Analysis

Almost every industry in the world has been affected by the global pandemic. The aramid prepreg market is being moderately impacted by disruptions in the global supply chain and a halt in aerospace and automotive activities, the primary end-users of aramid prepreg. The market relies heavily on aerospace, defense, automotive and electrical & electronics. The COVID-19 outbreak has moderately impacted business and consumer sentiment in key global markets, resulting in significant declines in the aerospace and automotive sectors. Though the market is gradually improving, it will take time for all sectors to resume a stable growth trajectory. The aerospace & automotive industries are estimated to recover slowly, as collapsed demand will take 6-8 quarters to recover fully.

Most automobile and aviation manufacturing facilities were closed due to social distancing policies, which reduced the output of commercial vehicles and airplanes. For instance, the Welsh Government services and information state that by the end of 2025, the demand for the manufacturing of short-haul sized aircraft (about 1,500 fewer aircraft out of 10,000) and long-haul sized aircraft (between 30 and 65 percent) is likely to decline globally (overall manufacturers) (around 600 - 1,300 fewer aircraft out of 2,000). Additionally, OEMs have been forced to operate at zero or partial capacity due to supply chain disruptions like raw material delays or non-arrival, disrupted financial flows and rising absenteeism among many production line staff. It has decreased the supply and consumption of thermoset and thermoplastic matrix-based aramid Prepregs in 2020.

Segment Analysis

By end-user, the aramid prepreg market is segmented into aerospace & defense, automotive, electrical & electronics, sports & leisure and others.

Numerous applications of aramid prepreg in the automotive industry

The prepregs have a higher specific strength and modulus than most metallic alloys; they are increasingly being used to replace their metal counterparts in the fabrication of interior and exterior structures. Aramid prepregs are increasingly used in the automotive industry due to their superior strength-to-weight ratio. Aramid prepregs are used in various automotive applications, including hoses, diaphragms, railroad car connection membranes, anti-lock braking systems and wheel wells.

The global automotive industry has expanded in recent years. However, the global automotive industry recently saw a 1.1% drop in production. Approximately 95.63 million cars have been produced globally over the years. Furthermore, the automotive production is declining due to low demand, the transition to electric vehicles, and growing concerns about vehicle emissions.

Geographical Analysis

Growing demand from various end-use industries in Germany

Germany's economy is the largest in Europe and the fourth largest globally. Factors such as trade tensions resulting in lower exports and tariff disputes triggered by U.S. government impact the country's economic growth. However, such fluctuations in economic performance are expected to lift the country over the forecast period. Germany leads the European automotive market, accounting for one-third of total European automobile production with 41 assembly and engine production plants. As one of the leading aircraft manufacturing bases, Germany is home to manufacturers from various segments, including equipment manufacturers, material & component suppliers, engine producers and whole system integrators.

German companies account for approximately 21 world's top 100 automotive suppliers. Due to high costs and shifting production to other countries, the country's automotive production has been declining in recent years. The aerospace industry is one of Germany's most innovative and high-performing industries. The German aerospace manufacturing and supplier industry employ over 2,300 people across the country, with a higher concentration in northern Germany. As a result, all such trends in the country's end-user industries are expected to drive demand for the market under consideration over the forecast period.

Competitive Landscape

The aramid prepreg market is partially consolidated, with a few players controlling a sizable portion of the market. Players in the aramid prepreg market primarily use technology launches, acquisitions and R&D efforts as their primary business models.

Composites Evolution debuted the Evopreg EPC200 adjustable temperature cure epoxy components prepreg technology in May 2020. Composites Evolution offers Evopreg EPC component resins with carbon, glass, aramid and ampliTex flax reinforcements.

Major players operating in the aramid prepreg market include Axiom Materials, Inc., Holding company ""Composite,"" DuPont de Nemours, Inc., Hexcel Corporation, Lingol Corporation, Toray Industries Inc, Mitsubishi Chemical Carbon Fiber and Composites, Inc., SGL Carbon, Ventec International Group and Zyvex Technologies.

Axiom Materials Inc.

Overview: Axiom Materials, Inc. is a forward-thinking composite materials manufacturer founded to combine high-quality prepreg, adhesive and ancillary composite products. Ceramic prepregs, epoxy unidirectional carbon prepregs, tooling prepregs and film adhesives are among the many composite materials and engineered products manufactured by Axiom Materials. Axiom Materials, Inc holds AS9100D and ISO90012015 certifications.

Product Portfolio: Pre-impregnated composite material is the area of expertise for Axiom Materials, Inc. (prepreg). Various film adhesives, paste adhesives, primers and other complementary products are also part of its product line. Epoxy, phenolic, polyester, cyanate, vinyl and polyimide are the resin systems manufactured by the company. Prepreg woven aramid prepregs, woven carbon prepregs, unidirectional prepregs and woven fiberglass prepregs are available.

Key Development: Kordsa, a subsidiary of Sabanc Holding, paid US$181 million for Axiom Materials Inc. in 2019. According to Kordsa, the investment makes the company the only qualified manufacturer of Oxide-Oxide ceramic matrix composites globally. With the establishment of the Composite Technologies Center of Excellence in partnership with Sabanc University, Kordsa has entered the market for advanced composite materials.

The first stage of Kordsa's plan to establish a second Kordsa in composite technologies has been accomplished with the acquisition of Axiom Materials. The value-added materials made by Axiom Materials, which are extensively utilized in aircraft engines and have a variety of uses in diverse industries, are thought to be the future material.

Why Purchase the Report?
• Visualize the composition of the aramid prepreg market segmentation by type, end-user and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in the aramid prepreg market by analyzing trends and co-development deals.
• Excel data sheet with thousands of aramid prepreg market-level 4/5 segmentation points.
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The global aramid prepreg market report would provide access to an approx. 53 market data table, 43 figures and 180 pages.

Target Audience 2022
• Aramid Prepreg Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Emerging Companies
• Aramid Prepreg Manufacturers