The global prepreg market is expected to reach USD 12.48
billion by 2024, according to a new report by Grand View Research, Inc.
Increasing need for high-performance materials particularly in the automotive,
aerospace and sporting goods sectors is expected to have a positive impact on
the market over the next eight years. Environmental norms introduced by various
agencies including the U.S. EPA and EU, to promote sustainable energy sources
as opposed to conventional sources,
particularly in North America and Europe,
have led to rising number of wind power installations in these regions. This is
expected to be one of the major factors propelling product need over the
forecast period.
Enhanced mechanical properties including short curing time,
longer life span, high strength and superior machinability are expected to have
a positive impact on product demand in the automotive as well as the aerospace
industries.
Various advantages of prepregs over its counterparts such as
low void content, ease of use, high strength, and specific modulus, enhanced
corrosion resistance and low thermal expansion coefficient makes it a key
product in the manufacturing of numerous aerospace components. The rapid growth
of the wind power industry in the Asia-Pacific is expected to fuel prepreg
demand over the forecast period.
Browse full research report on Prepreg Market: http://www.grandviewresearch.com/industry-analysis/prepreg-market
Further key findings from the report suggest:
- The
global prepreg market was estimated around 260 kilo tons in 2015 and is
anticipated to grow at a CAGR of around 8% from 2016 to 2024
- Glass
fibers are expected to witness the fastest growth at a CAGR of over 9%
from 2016 to 2024 on account of its rising use in the manufacturing of
various sporting goods such as bicycle frames and golf shafts
- Use of
thermosetting resins accounted for over 60% of the overall industry in
2015. Recyclable nature of thermosetting resins is expected to fuel its
demand over the forecast period
- Solvent
dip process accounted for over 25% of the overall industry in 2015. Rising
use in the manufacturing of fabric prepregs as it meets performance
requirements such as low-temperature curing and good fatigue performance
is expected to fuel its use over the next eight years
- Aerospace
& defense will witness the fastest growth at a CAGR of over 11% from
2016 to 2024 owing to increasing product use in the manufacturing of
interior components and aero-engines
- The
Middle East and Africa currently account for a smaller share but is
expected to witness substantial growth over the forecast period. Emerging
markets such as Brazil and Mexico are projected to have an increased
potential for the product due to rapid industrialization in these
economies
- Key
companies in the industry focusing on increasing their global presence
through plant expansions, new product launches, and mergers &
acquisitions. For instance, in September 2015, SGL Group developed an
isotropic non-woven prepreg (ICV prepreg) from recycled carbon fiber and
epoxy resin which will help the company in expanding its product portfolio
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented the global prepreg market
on the basis of product, application and region:
Fiber type outlook (Volume, Kilo Tons; Revenue, USD
Million, 2013 - 2024)
- Carbon
- Glass
- Aramid
Resin type outlook (Volume, Kilo Tons; Revenue, USD
Million, 2013 - 2024)
- Thermoset
- Thermoplastic
Manufacturing process type outlook (Volume, Kilo Tons;
Revenue, USD Million, 2013 - 2024)
- Hot-melt
- Solvent
dip
Application outlook (Volume, Kilo Tons; Revenue, USD
Million, 2013 - 2024)
- Aerospace
& defense
- Wind
energy
- Sporting
goods
- Automotive
- Others
Regional outlook (Volume, Kilo Tons, Revenue, USD
Million, 2013 - 2024)
- North
America
- U.S.
- Europe
- Germany
- UK
- Russia
- Asia
Pacific
- China
- India
- Vietnam
- Latin
America
- Brazil
- MEA
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-prepreg-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more Info: www.grandviewresearch.com
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