Prepreg Market Size, Share, and COVID-19 Impact Analysis, By FRP Type (Thermoset and Thermoplastic), By Type (Carbon, Glass, and Others), By Technique (Hot Melt Process and Solvent Dip Process), By Application (Aerospace, Marine Industry, Electronics Products, Wind Energy, Automotive, and Others) and Regional Forecast, 2024-2032

Prepreg is a composite material consisting of fibers or fabrics and a pre-catalyzed thermoset or thermoplastic. All have been impregnated into the composite form. The product is well known for its high-performance application, including mechanical and physical properties. These properties are achieved due to the presence of epoxy resin, carbon fiber, and other advanced composite materials. Additionally, resins in the material make it slow-reactive at room temperature, making it durable and long-lasting. All these properties allow the product to grow its market share in upcoming forecasted years. The wind energy industry is one of the largest application industries in the prepreg market in terms of volume.  

Rising concerns against the environmental issue raised space for alternatives to traditional energy generation sources. Wind energy is a moderately adopted technology that further strengthens the demand for prepreg material as traditional materials, including steel and aluminum, became less popular due to their low resisting properties against the environment. On the other hand, the prepreg material allows an excellent balance of strength, rigidness, and a slenderer blade profile, enabling more efficiency and higher energy.

However, prepreg offers excellent and extensive benefits for end-users, but their high cost is anticipated to hinder the prepreg market. Prepreg can be stored for up to six months; this short storage lifetime is a disadvantage. Additionally, the processing cost is relatively high for different applications and end-use. Thus, all the mentioned factors are the key restraints for the market.

Impact of COVID-19 on the Prepreg Market

The covid-19 pandemic negatively impacted the end-use industries. This has resulted in the demand for the prepreg being low during the pandemic. In addition, countries such as the U.S., China, and India were deeply affected due to which supply of raw materials and man labor was not available. Additionally, the government imposed rules and regulations and launched new production policies for the safety of the people. This has resulted that production operations being either on a low scale or entirely halted. But in the current scenario, world trade is in the recovery phase, and companies are operating at total capacity.

Key Insights

The report will cover the following key insights:

• Regulatory Scenario of Prepreg Industry


• Key Development of Prepreg


• Impact of COVID-19 on Prepreg Market

PREPREG MARKET Segmentation ANALYSIS:

Analysis by FRP Type

Based on the impregnation, the prepreg market can be segmented into thermoset and thermoplastic FRP types. Thermoset prepreg is a moderately adopted FRP type as it has high-grade resins that make it remarkably strong and extremely lightweight.  Additionally, the thermoset is quickly adoptable due to its high-impact resistance and cost-effectiveness. Furthermore, thermoset is used in automotive and aerospace applications such as engine parts, bicycle rims, chassis, etc. Hence, all these factors are expected to create a space for the prepreg industry.

Analysis Technique

The global prepreg market can be segmented into carbon composites, glass composites, and others. All of the products have better strength ratio, weight ratio, resistance to chemicals, and other properties. Additionally, all of the products used in the application include aerospace, marine industry, electronics products, wind energy, automotive, and others. Furthermore, the product is used to manufacture multilayered and complex PCBs. PCBs are the newly developed application of the prepreg

Regional Analysis

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The global prepreg industry has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to secure the largest share of the market due to the presence of key market players and existing investors. Moreover, the U.S. has the potential to invest in advanced technologies. Additionally, the aerospace industry is at its peak in the entire region. Europe is expected to show moderate growth due to the automotive sector increase. Latin America, the Middle East & Africa are projected to register a comparatively higher CAGR by the end of the estimated period.

Key Players Covered

• Toray


• Henkel Ltd


• KREMPEL GmbH


• Teijin Limited


• Park Aerospace Corp


• Hexcel Corporation


• Gurit Holding AG


• RockWest Composites


• Mitsubishi


• Solvay


• Others

Segmentation

Key Industry Developments

In June 2021, Solvay launched a high-compression molding PrePrag called CYCOM EP2750 for the aerospace industry.