The Global Prepreg Market Projected to Surge at $12.25 Billion by 2028

November 16 11:26 2021
The Global Prepreg Market Projected to Surge at $12.25 Billion by 2028
The Global Prepreg Market
As per Triton’s report, the global prepreg market garnered $5.91 billion in 2020, and is estimated to advance at a CAGR of 9.19% by 2028.

A recent study by Triton Market Research titled ‘Global Prepreg Market’ includes the Global Analysis and Forecasts by Manufacturing Process (Hot Melt, Solvent Dip), Resin Type (Thermoset, Thermoplastic), Applications (Automotive, Sporting Goods, Aerospace & Defence, Wind Energy, PCB & Other Application), Reinforcement Type (Aramid Fiber, Glass Fiber, Carbon Fiber), and by Geography (North America, Latin America, Europe, Middle East and Africa, Asia-Pacific).  

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Triton’s research report signifies that the global prepreg market is likely to exhibit growth at a CAGR of 9.19% during the considered years 2021-2028. It is predicted to gain revenue worth $12.25 billion by 2028.

Automakers are working towards manufacturing light and improved vehicle interior and exterior parts that can drastically improve vehicles’ fuel efficiency. This is positively influencing the demand for prepregs, which is supporting the market growth.

On the flip side, prepregs are expensive. This is because the cost of R&D, raw materials, and manufacturing prepregs is very high. The high cost of prepregs is thus restraining the growth of the market studied.

The prepreg market is broadly divided into manufacturing process, resin type, applications, and reinforcement type. Based on manufacturing process, it is divided into hot melt and solvent dip. Based on resin type, it is mainly classified into thermoset, and thermoplastic. The applications segment includes automotive, sporting goods, aerospace & defence, wind energy, PCB & other application. Whereas, the reinforcement type segment includes aramid fiber, glass fiber, and carbon fiber.

The market in North America is currently the largest in the world, and is expected to continue its lead over the projected period. The United States is expected to showcase the fastest growth in the region in the coming years. It is home to several companies operating in the prepreg market. Also, the manufacturing companies located here are continuously improving their overall business processes to cater to the growing demand of their customers. These factors are supporting the prepreg market growth in North America.

Unicarbon, Zyvex Labs, Cytec Solvay Group, Celanese, Hexcel Corporation, Renegade Materials Corporation, Mitsubishi Rayon Co Ltd, Ventec Group, Axiom Materials, Toray Industries Inc, Park Electrochemical Corp, Royal Ten Cate NV, Teijin Limited, Gurit Holding AG, and SGL Group are reputed companies engaged in the prepreg market.

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Question & Answer: Prepreg Market

Question 1: What is supporting the prepreg market growth?

Answer: Automakers are working towards manufacturing light and improved vehicle interior and exterior parts that can drastically improve vehicles’ fuel efficiency. This is positively influencing the demand for prepregs, which is supporting the market growth.

Question 2: What is restraining the growth of the market?

Answer: Prepregs are expensive. This is because the cost of R&D, raw materials, and manufacturing prepregs is very high. The high cost of prepregs is thus restraining the growth of the market studied.

Question 3: Which region is dominating the global market?

Answer: The market in North America is currently the largest in the world, and is expected to continue its lead over the projected period. The United States is expected to showcase the fastest growth in the region in the coming years. It is home to several companies operating in the prepreg market. Also, the manufacturing companies located here are continuously improving their overall business processes to cater to the growing demand of their customers. These factors are supporting the prepreg market growth in North America.

Question 4: Which are the reputed companies engaged in the prepreg market?

Answer: Unicarbon, Zyvex Labs, Cytec Solvay Group, Celanese, Hexcel Corporation, Renegade Materials Corporation, Mitsubishi Rayon Co Ltd, Ventec Group, Axiom Materials, Toray Industries Inc, Park Electrochemical Corp, Royal Ten Cate NV, Teijin Limited, Gurit Holding AG, and SGL Group are reputed companies engaged in the prepreg market.

Related Report:

Global Conductive Polymers Market

The global conductive polymers market is likely to propel at a CAGR of 12.50% during the period of 2021-2028, while garnering $6454.12 million worth of revenue by 2028.

Conductive polymers are a class of ICPs that conduct electricity. These polymers showcase electrical & optical properties similar to those of metals & inorganic semiconductors.

The automotive industry has been witnessing substantial growth worldwide, reaching prerecession levels in some regions. In the recent past, there has been an increase in the usage of automobiles, in both developed as well as developing countries. This can be attributed to the rise in people’s disposable income. The auto industry is one of the biggest end-users of conductive polymers. And therefore, its development is expected to drive the growth of the marker studied, over the forecast period.

However, the cost of production of conductive polymers market is very high, including the cost of obtaining raw materials. This is a major factor hindering the growth of the conductive polymers market.

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