Prepreg Market Forecasts to 2030 – Global Analysis By Fiber Type (Carbon Fiber Prepreg, Glass Fiber Prepreg, Aramid Fiber Prepreg and Other Fiber Types), Resin Type (Thermoset Prepreg, Thermoplastic Prepreg, Epoxy Prepreg, BMI Prepreg, Phenolic Prepreg, C

Prepreg Market Forecasts to 2030 – Global Analysis By Fiber Type (Carbon Fiber Prepreg, Glass Fiber Prepreg, Aramid Fiber Prepreg and Other Fiber Types), Resin Type (Thermoset Prepreg, Thermoplastic Prepreg, Epoxy Prepreg, BMI Prepreg, Phenolic Prepreg, Cynate Ester and Other Resin Types), Form (Tow Prepreg, Fabric Prepreg and Other Forms), Manufacturing Process (Hot-Melt Process, Solvent Dip Process and Other Manufacturing Processes), Application, End User and By GeographyAccording to Stratistics MRC, the Global Prepreg Market is accounted for $9.17 billion in 2023 and is expected to reach $23.67 billion by 2030 growing at a CAGR of 14.5% during the forecast period. Prepregs are composite materials made of high-strength reinforcement fibers that have already been pre-impregnated with either thermoset or thermoplastic resin. The fiber-to-resin ratio is precisely controlled during resin impregnation. It provides a number of advantages, including maximum strength properties, part uniformity and repeatability, less waste, and quicker curing. Prepregs are typically used in high-performance applications where cost is secondary to weight and mechanical performance in sectors like aerospace, sports, military, automotive, and wind energy.

According to the Boeing Commercial Outlook 2022-2041, around 8,485 new airplane deliveries are expected to be made by 2041, with a market service value of USD 545 billion. According to Boeing, around 41,170 fleet deliveries will be done by 2041.

Market Dynamics:

Driver:

Increased demand from the automotive industry for lightweight materials

The global automotive industry is investing heavily in research and development of lightweight materials in order to reduce costs, improve recycling rates, maximize fuel efficiency, and enable materials integration into vehicles. Thus, aluminum and steel are currently being replaced in the automotive industry by carbon fiber-reinforced polymer (CFRP) and glass fiber-reinforced polymer (GFRP). Steel is 15-20% and 50-70% lighter in weight than prepregs made of glass and carbon fiber, respectively. Additionally, using such prepreg parts can reduce a vehicle's weight by about 60%. As a result, the demand for lightweight materials from the automotive industry fuels the expansion of the global prepreg market.

Restraint:

High material costs

Prepreg products are expensive because the cost of the raw materials, like carbon fiber and epoxy resin, is relatively high. Additional production-related costs, such as those for handling, storage, and transportation, further increase this cost. The high cost of production and processing, as well as the difficulties related to the product's recyclability, will slow the market's expansion. Additionally, a lack of demand for and supply of raw materials may push up market prices.

Opportunity:

Rising interest in renewable energy

Prepregs are composite materials that have a resin system pre-impregnated into them. They are also referred to as pre-impregnated composites. Composites are becoming a more popular material choice for solar panels, wind turbine blades, and other renewable energy applications in the renewable energy sector. Moreover, these Composites are perfect for these applications due to their lightweight and high strength characteristics, which can help reduce the overall structure's weight, boost energy efficiency, and enhance durability. As a result of manufacturers' efforts to create more effective and long-lasting products, the demand for prepregs in the renewable energy sector is probably going to rise. Prepreg manufacturing could then see an increase in investment as businesses try to take advantage of the rising demand.

Threat:

Recycling materials

Prepreg recycling can be a costly process, and since the fibers degrade during recycling, the recycled material might not perform as well as the original material. This may restrict the recycled material's usefulness, especially in fields that demand high-performance materials. Moreover, prepreg materials are frequently difficult to recycle, and disposal can be expensive and environmentally harmful. Due to rising environmental awareness and corporate pressure to lessen their environmental impact, this issue has gained importance over the past few years.

Covid-19 Impact:

The COVID-19 pandemic has had a conflicting effect on the prepreg market, causing supply chain disruptions and a decline in demand from some end-use industries, including aerospace and automotive. A few prepreg materials, however, that are used in protective gear and medical equipment have seen an increase in demand. In the prepreg industry, the pandemic has brought to light the necessity for robust supply chains and diversified end markets. Due to COVID-19, Europe and North America were the two regions that were most severely impacted. In order to meet the demand for prepreg materials in the near future and deal with the sudden changes in the market, businesses must quickly improve their distribution network and supply chain to prepare for the sudden impact the pandemic will have on the industry.

The carbon fiber segment is expected to be the largest during the forecast period

The carbon segment is expected to account for largest revenue share during the forecast period, due to its outstanding characteristics and extensive usage across a wide range of industries, including aerospace, automotive, wind energy, and sporting goods. In the aerospace and defense industries, carbon fibers are widely used. Carbon fibers' high strength, superior stiffness, and superior fatigue resistance make them ideal for use in aircraft structures. Additionally, due to the consumer of these materials due to their high strength-to-weight ratio, exceptional heat resistance, and resistance to corrosion.

The automotive segment is expected to have the highest CAGR during the forecast period

The automotive segment is expected to experience the highest CAGR during the forecast period due to rising consumer demand for lightweight and fuel-efficient vehicles. Prepreg materials are used in the manufacture of numerous automotive components, such as body panels, door panels, and structural elements. Due to their exceptional stiffness, longevity, and strength-to-weight ratios, these materials are ideal for use in the automotive industry.

Region with largest share:

During the forecast period, it is anticipated that the Asia-Pacific market will contribute the largest revenue share. Rising demand for lightweight materials across a range of industries, including aerospace and defense, automotive, wind energy, and sports and leisure, is anticipated to fuel market revenue growth in this area. The increase in air traffic, rising defense spending, and rising space exploration investments are all contributing to the region's aerospace and defense industries rapid growth. Prepreg demand in this area is rising as a result of the need for strong materials that are lightweight. Additionally, the automotive sector is embracing lightweight materials to increase fuel efficiency and decrease emissions, which is predicted to increase demand for prepreg in this region.

Region with highest CAGR:

Due to the growing demand for prepreg in the aerospace and defense industries, the North American market is anticipated to experience the highest CAGR during the forecast period. Some of the top aerospace and defense firms, including Boeing and Lockheed Martin, are based in the area, increasing demand for lightweight materials like prepreg. Additionally, because prepreg is used in the production of wind turbine blades, rising demand for wind energy in the area is also anticipated to increase demand for it. Prepreg demand is anticipated to increase in this region due to the growing emphasis on renewable energy sources and rising investments in wind energy projects.

Key players in the market

Some of the key players in Prepreg market include Composite Resources Inc., SGL Group, Henkel ltd, 3M, Ventec International Group , Teijin Limited, Axiom Materials, Inc., Toray Industries, Inc., Celanese Corporation, Isola Group, Park Eletrochemical Corp. , Aerospace Corp, Plastic Reinforcement Fabrics Ltd., Renegade Materials Corporation, Zoltek, Solvay Group, BASF SE, Sunrez Corporation, Borealis AG, Hexcel Corporation and Mitsubishi Chemical Holdings Corporation

Key Developments:

In July 2023, Toray Industries, Inc., announced today that it has developed a material that can bond micro-electronic components at temperatures more than 30°C lower than with existing technologies—less than half their levels and under low-pressure conditions.

In June 2023, 3M reached an agreement to pay a $10.3bn settlement with numerous US public water systems to resolve thousands of lawsuits over PFAS contamination.

In May 2022, Solvay Group introduced SolvaLite 714 Prepregs, an essential addition to its wide portfolio of composite materials for the automotive industry. This offering is the new generation of unidirectional carbon-fiber and woven-fabric products pre-impregnated with SolvaLite 714 epoxy resin.

In April 2022, Hitachi Power Solution introduced cutting-edge services like Blade Total Service. Due to stress from fusing drones and artificial intelligence technology, this blade's full service reduces the risk of wind power outages.

Fiber Types Covered:
• Carbon Fiber Prepreg
• Glass Fiber Prepreg
• Aramid Fiber Prepreg
• Other Fiber Types

Resin Types Covered:
• Thermoset Prepreg
• Thermoplastic Prepreg
• Epoxy Prepreg
• BMI Prepreg
• Phenolic Prepreg
• Cynate Ester
• Other Resin Types

Forms Covered:
• Tow Prepreg
• Fabric Prepreg
• Other Forms

Manufacturing Processes Covered:
• Hot-Melt Process
• Solvent Dip Process
• Other Manufacturing Processes

Applications Covered:
• Aerospace & Defense
• Wind Energy
• Automotive
• Sporting Goods
• Electronics (PCB)
• Other Applications

End Users Covered:
• Commercial Aerospace
• Military
• General Aviation
• Space/Satellite
• Marine
• Civil Engineering
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements