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The Tow Prepreg Market is likely to witness an impressive CAGR of 6.7% during the forecast period. The prime factor that is contributing to the demand for Tow Prepreg is the increasing demand for Tow Prepreg in various industries.
This report on the Tow Prepreg Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the Tow Prepreg Market. The report intends to present a thorough analysis of the Tow Prepreg Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
Tow Prepreg Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
Few key players operating in the Tow Prepreg Market are-
ARISAWA Mfg. Co., Ltd.
HEXCEL Corporation
JXTG Holdings, Inc.
Mitsubishi Chemical Holdings Corporation
Porcher Industries
Red Composites Ltd.
SGL Carbon SE
TCR Composites, Inc.
Teijin Limited
VITECH COMPOSITES
Growth drivers and Market Value:
This report, from Stratview Research, studies the Tow Prepreg Market value and growth drivers over the trend period of 2022-27. According to the report -
Tow Prepreg Market is likely to witness an impressive CAGR of 10.0% during the forecast period. The growing demand from various industries such as aerospace & defense, automotive & transportation, and oil & gas is the main factor contributing to the growth of the tow prepreg market. The surge in production of commercial aircraft by Boeing and Airbus to cater to the increasing airline traffic of passengers is also bolstering the growth of the market. Further, the mounting use of tow prepregs in electric cars and aircraft is substantially underpinning the growth of the market, globally.
Segment Analysis:
Based on Fiber Type:
Based on the fiber type, the tow prepreg market is segmented as carbon fiber, glass, and others. Carbon fiber is expected to be the largest segment of the market during the forecast period, in terms of value, owing to its wide use in various industries such as aerospace & defense, automotive & transportation, and sports & recreational sectors. This fiber offers features such as higher strength modulus, higher tensile strength and elastic modulus in comparison to the other fiber types.
Based on Region:
In terms of regions, Europe is estimated to be the leading region in the tow prepreg market during the forecast period, with The UK and Germany being the major countries with a large number of offshore wind energy installations and lucrative growth opportunities. The aerospace & defense industry has launched Airbus A320 and the Eurofighter successfully in the region. The penetration of the aerospace & defense industry in Europe by tow prepreg manufacturers is due to the low corporate income tax and growth in the industry. The strict rules and regulations implemented by the European Union Automotive Fuel Economy standard is to reduce the emission of carbon by making use of lightweight materials and the EU has also agreed to reduce 37.5% of carbon in cars by the year 2030, which in turn, has led to the wide use of tow prepregs in electric cars in the European region. Asia-Pacific and North-America are also expected to offer substantial growth opportunities during the forecast period.
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