Thermoset Prepreg Market Size and Country Analysis to 2027
Stratview Research, a global market research firm announces the release of the report titled – Thermoset Prepreg Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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According to this report, the global Thermoset Prepreg Market is estimated to growth at a healthy CAGR of 5% by 2027.
Market Segments Analysis
The market researchers have studied the Thermoset Prepreg Market minutely for better understanding. The report consists of segment-wise details to assist the users in making suitable decisions for better growth opportunities. Below is the short piece of information -
Key Players
Hexcel Corporation
Solvay S.A. (Cytec Industries)
Toray Industries Inc.
Kordsa Teknik Tekstil
Gurit Holding AG
SGL Group
Mitsubishi Chemical Carbon Fiber and Composites Inc.
Teijin Limited
Park Electrochemical Corp.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Thermoset Prepreg Market value and growth drivers over the trend period of 2022-27. According to the report -
The thermoset prepreg market is likely to endure a weighty downturn in 2021, thereafter recouping at a healthy rate to reach US$ 5.6 billion in 2026. Currently, thermoset prepreg accounts for more than two-thirds’ share of the total prepreg market and is expected to maintain its irrefutable lead in the years to come, propelled by an expected rebound in the production rate of next-gen. aircraft programs (A350XWB and B787), increasing preference towards composite parts over traditional metallic ones, development of longer and larger wind turbine blades, reduction in part cycle time, and requirement of lightweight and durable components/parts.
Segment Analysis:
Based on Resin Type:
Based on the resin type, Stratview Research has segmented the market as epoxy prepreg, phenolic prepreg, BMI prepreg, cyanate ester prepreg, and polyimide prepreg. Epoxy prepreg is projected to maintain its dominance in the market over the next five years. Despite experiencing a grave decline in 2021, epoxy prepreg is also likely to heal at the fastest rate during the forecast period. Components fabricated with epoxy prepreg show excellent strength, durability, and chemical resistance. Epoxy prepreg offers high performance at elevated temperatures, with hot/wet service temperatures up to 121°C.
Based on Region:
In terms of region, North America is projected to remain the largest market for thermoset prepregs during the forecast period. The USA is the growth engine of the region’s market with the presence of a large number of OEMs, tier players, distributors, and raw material suppliers. Most of the major thermoset prepreg manufacturers have their presence in the region in order to cater to huge demand from a wide array of industries including aerospace & defense, wind energy, marine, oil & gas, and construction. Furthermore, there is a total un-filled order of more than 2,691 F-35 aircraft from 12 countries out of which the USA’s inventory objective is 2,456 F-35 aircraft. Lockheed Martin’s F-35 uses BMI prepreg in a wide array of crucial applications such as nacelles.
Asia-Pacific is likely to depict the fastest recuperation during the forecast period, driven by China, India, and Japan. An expected increase in the penetration of composite materials including thermoset prepregs in various end-use industries is driving the growth of the region’s market. A gradual shift of the aerospace manufacturing bases from North America and Europe to Asia-Pacific is another factor acting as a catalyst for the region’s market.
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What else are available in this report?
The answer lies in the TOC and other details. Take a sneak-peek into the TOCs of this report.
- Report Scope
- Report Objectives
- Research Methodology
- Market Segmentation
- Secondary Research
- Primary Research
- Breakdown of Primary Interviews by Region, Designation, and Value Chain
- Data Analysis and Triangulation
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