Prepreg Market Future Growth, Latest Trends and Growth Factors Forecast to 2026

The increasing demand of wind energy as a renewable energy, drives the demand for prepreg.


Northbrook, IL 60062 -- (SBWIRE) -- 12/01/2023 -- The report "Prepreg Market by Fiber Type (Glass, Carbon, Others), By Resin Type (Thermoset, Thermoplastic), Form (Tow, Fabric), Manufacturing, Application ( Aerospace & Defense, Wind Energy, Sporting Goods, Automotive) and Region - Global Forecast 2026", The global prepreg market size is estimated at USD 7.0 billion in 2021 and is projected to reach USD 12.6 billion by 2026, at a CAGR of 12.5%. Prepreg is being used in the aerospace & defense, wind energy, automotive, sporting goods, electronics, and other end-use industries. The increasing wind energy projects and demand of lightweight material from automotive industry support the demand for prepreg in the wind energy and automotive end-use industry.

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282 market data Tables
62 Figures
267 Pages

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Carbon Fiber Prepreg comprises a major share of the prepreg market in terms of value.
The carbon fiber prepregs find wide applications in various end-use industries. Carbon fiber prepregs are used in automotive, sporting goods, and leisure items such as vehicles (motorcycle) rim and integral spokes structural components. The use of carbon fiber prepregs in these applications provides 40–50% weight reduction over their conventional aluminum counterparts.

The aerospace & defense application accounted for the largest market share in the global prepreg market during the forecast period in terms of value and volume.
The use of prepregs has continuously increased in aerospace & defense applications due to their lightweight properties and increased fuel efficiency. Mass usage of prepreg is quite established in aerospace & defense applications, with 50% of aircraft materials being composites. Prepregs help build lightweight aircraft and facilitate more efficient structural and aerodynamical designs. They are used in secondary structures, such as fairings, seat structures, luggage racks, and galley equipment. Due to COVID-19 outbreak major manufacturers temporarily closed their plants during the lockdown. However, The demand is expected to recover in the forecasted period.

APAC is expected to account for the largest market share in the prepreg market during the forecast period.
APAC is the largest prepreg market in terms of volume and is expected to maintain its lead during the forecast period. The remarkable growth of the wind energy industry has driven the expansion of the market in the region. China is leading the Asia Pacific prepreg market in the wind energy industry, with 71.7 GW new wind capacity installed in 2020. Favorable government policies, to protect the economies from volatile fossil fuel prices and take steps against harmful GHGs emissions, are expected to drive the wind energy industry in Asia Pacific, stimulating the demand for prepreg in the region. North America is the second major consumer of prepregs aerospace & defense, and wind energy are the major industries fueling the growth of the prepreg market in this region.

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The key players in the prepreg market include Solvay Group (Belgium), Hexcel Corporation (United States), Toray Industries, Inc. (Japan), Teijin Limited (Japan), and Mitsubishi Chemical Holdings Corporation (Japan), are some of the key players in the prepreg market. SGL Group (Germany), Axiom Materials (United States), Gurit Holding AG (Switzerland), Park Aerospace Corp. (United States), and Plastic Reinforcement Fabrics Ltd. (United Kingdom) are among others. These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the prepreg market. These players have taken different organic and inorganic developmental strategies over the past five years.

Toray Industries, Inc. and Solvay SA are two of the major players in the segment. Toray Industries, Inc. is a multinational corporation that specializes in industrial products having applications in organic synthetic chemistry, polymer chemistry, and biochemistry. The company is currently the largest producer of carbon fiber in the world and synthetic fiber in Japan. It provides prepreg through its subsidiary, Toray Advanced Composites.

Solvay Group is one of the leading players in materials, chemicals, and solutions worldwide. The company is primarily engaged in developing, manufacturing, and selling products for agro, feed & food, automotive & aerospace, building & construction, customer goods & healthcare, oil & gas, electrical & electronics, energy & environment, mining, coatings, and industrial applications. Cytec Industries, which was acquired by Solvay SA in December 2015, included its former aerospace materials and industrial materials activities in the Advanced Materials segment and its process separation and additive technologies activities in the advanced formulations segment of Solvay SA.

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