Global Prepreg Market | Growth, Opportunity, Share

1
The Global Prepreg Market at CAGR of 9.19 by 2028
Triton Market Research presents the Global
Prepreg Market segmented by Resin Type
(Thermoplastic, Thermoset), Manufacturing Process
(Solvent Dip, Hot Melt), Reinforcement Type
(Aramid Fiber, Glass Fiber, Carbon Fiber),
Applications (Sporting Goods, Automotive, Wind
Energy, Aerospace Defence, PCB Other
Application), and By Geography (Middle East and
Africa, Europe, Asia-Pacific, Latin America,
North America). It further discusses the Market
Summary, Industry Outlook, Impact of COVID-19,
Key Insights, Porters Five Forces Model, Market
Attractiveness Index, Vendor Scorecard, Industry
Components, Key Market Strategies, Drivers,
Challenges, Opportunities, Competitive Landscape,
Research Methodology Scope, Global Market Size,
Forecasts Analysis (2021-2028).
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Triton Market Researchs report states that
the global prepreg market would expand by with a
CAGR of 9.19 during the evaluated period between
2021 and 2028.
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Prepregs are witnessing an increase in the demand
from the aerospace defense sector, with the
introduction of new larger commercial aircraft.
Owing to their properties like high strength,
heat chemical resistance, high stiffness, etc.,
prepregs are largely being used in this sector.
The growing demand from the aerospace defense
sector is thus a major driving force of the
prepreg market. On the flip side, prepregs
require to be stored under constant freezing
temperature, away from moisture and UV radiation,
so as to maintain their effectiveness and shelf
life. This acts as a major hindrance to their
adoption, and is restraining the market
growth. The Asia-Pacific is estimated to exhibit
the fastest growth rate in the global market,
over the forecasted period. Countries like India,
China, South Korea, Australia, Taiwan, Singapore,
Japan, and Indonesia have large manufacturing
industries in diverse sectors such as
construction, chemical, electronics, automotive,
and other industries. The manufacturing sector in
these nations has experienced a huge shift over
the years. This has increased the demand for
prepregs in the region, significantly, and is
driving the regional markets growth. Moreover,
favorable government initiatives to encourage the
development of the manufacturing sector and
increasing foreign direct investments are also
contributing to the growth of the market in the
APAC. The key companies profiled in the prepreg
market are Celanese, Unicarbon, SGL Group, Hexcel
Corporation, Axiom Materials, Ventec Group, Toray
Industries Inc, Mitsubishi Rayon Co Ltd, Park
Electrochemical Corp, Royal Ten Cate NV, Renegade
Materials Corporation, Teijin Limited, Gurit
Holding AG, Cytec Solvay Group, and Zyvex
Labs. The market for prepregs is highly
concentrated, with the key players accounting for
the majority of the share. Most players, such as
Teijin Limited, Toray Industries Inc, and SGL
Carbon SE, are vertically integrated, which
further intensifies the competition. With the
surging demand for prepregs, manufacturers are
looking towards implementing competitive
strategies, such as capacity expansions and
mergers acquisitions, in order to stay ahead of
the competition. Moreover, the leading companies
in the industry are also aiming to sustain their
competitive advantage via product innovation by
investing heavily in research and development
activities.
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