Market Executive Summary

REPORT HIGHLIGHT

The Prepreg market was valued at USD 6.18 billion by 2017, growing with 9.7% CAGR during the forecast period, 2018-2028

Market Dynamics

Prepreg is a material that is partially processed while manufacturing of the prepreg material and partially processed in the end product manufacturing system. It is basically a resin system which is partially cured initially and then further cured when it has been incorporated in the end product such as aeroplane systems. At a later stage, during the manufacture of the end product, the complete polymerization occurs due to high processing temperatures etc. The system needs no further addition of resin when setting into a mould. Major growth driver for this industry is the growing need for lightweight materials in the aerospace front. It is also used for lightweight wings or blades that finds application in wind turbine systems. The Airline Network News and Analysis stated that the Airbus & Boeing productivity rate has improved by 3.5% in the first half of 2018. An improvement in the manufacturing productivity will significantly impact the product demand positively. One factor that could threaten the growth of this industry is the cost of the product. Aluminium is used as a replacer and due to its lost cost can hamper the market share of Prepreg. In order to circumvent this situation, R&D work on improving curing times and the manufacturing process are being worked upon.

Fibre Type Takeaway

Three major categories include in fibre type, carbon based system, aramid and glass type. The carbon-based systems are especially beneficial due to its natural intrinsic properties like the product imparts an excellent surface finish to the end product, reduces porosity, can be stored at ambient temperature and easy for handling and storage. These attributes are extremely essential in aerospace engineering. The carbon-based prepreg is majorly used in order to manufacture aircraft based products such as ducts, sears, Cargo floor, storage cases, flooring carpets etc. The glass type system is also used in aerospace and is known for its structural properties and versatility in use. Aramid fibre is used where high temperature processing/ high pressure cycles are needed. Aramid finds applications where constructions have high stiffness and low weight requirement.

Resin Type Takeaway

There are two variants used to resin types; one is thermosetting type, while other is the thermoplastic type. The thermosetting resin is used for the automotive sector. Generally, epoxy resin is used within the thermosetting category. These are excellent for materials that require superior toughness and can take high load. However, the thermoplastic resin is expected to grow in the coming years owing to its exceptional properties such as moisture resistance, solvent resistance etc.

Manufacturing Process Takeaway

Hot-melt process and solvent dip method are the two ways in which prepreg is manufactured. While using the hot melt method, the substrate paper/ material is coated with a thin film of the heated resin. These materials interact with one another on the prepreg machine. Secondly, pressure and geare are applied so that the resin impregnates into the fibre glass thus forming the final prepreg. Second method i.e. solvent dip method is used only for prepreg fabric manufacturing. In this case, the resin is dissolved in a solvent system and the fabrics dipped into this solvent bath system. This is followed by oven drying so as to evaporate the solvent.

Application Takeaway

The major application categories are Wind, Automotive, Sporting goods and others. The Aerospace segment has been a key driver in the growth of Prepreg products. Due to the lightweight quality of the product, it is used in crucial parts of the aeroplanes i.e. bars, seats, fins, cabin linings, & winglets.

Turbines and wind energy based accessories used for the production of wind energy is another major application area. Based on an article published in the Green Tech Media, July 2018, the wind turbines industry is also set to witness unparalleled growth, thus boosting the prepreg industry as well. The reason for using this product in wind turbines is due to its light blades durability that enhances efficiency. An article published in the Wind Power Monthly, April 2017, stated that wind power could contribute to approximately 14% of India?s renewable energy resource, supporting the segment growth.

Regional Takeaway

North America dominates the global markets in terms of the share it demands in Prepreg industry. Investments and growth in the automotive industry, electrical cars, and airlines result in increased market share. An article published by the Folley Lardner LLP, August 2018, stated that light vehicle sales in North America were projected to be 17.4 million units by 2020. Europe follows the suit after North America, also showing promising steady growth. Data published by the European Automobile Manufacturers Association, July 2018 stated that there has been a 3.4% rose in passenger car registrations, which is the highest since 2007, thus boosting the prepreg market.

Key Vendor Takeaway

The key players that dominate the market are Axiom Materials, Toray Industries Inc., Ltd, Gurit, Park Electrochemical Corp, Royal Tencate, Toho Tenax Co., SGL Group, and others. Key players are actively engaged in developing new products, strategic mergers and acquisitions and research activities to enhance their market share. In the year 2017, a company called Hexel Corporation introduced CFRP technology in the high-end BMW7 series. The company was responsible for supplying HexPly M77 resin system to BMW.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year ? 2017 ? 2021
Base Year ? 2021
Estimated Year ? 2022
Projected Year ? 2028
TARGET AUDIENCE

Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies and Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY FIBRE TYPE

Carbon
Aramid
Glass
MARKET, BY RESIN TYPE

Thermoset
Thermoplast
MARKET, BY MANUFACTURING PROCESS

Hot-melt
Solvent DIP
MARKET, APPLICATION

Wind
Automotive
Sporting goods
Others
MARKET, BY REGION

North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America