The growth of the Global Prepreg Market is positively being influenced by factors like its ease of use, growing demand from Aerospace & Defense as well as wind generation applications and its large-scale use in automotive industry. Over the forecast period of 2018-2026, the market is anticipated to witness a CAGR rise of 9.55%.
The market segmentation for prepregs is done on the basis of four primary criteria: applications, types of resins, types of reinforcement and the manufacturing process. The prepregs applications are observed for wind energy, aerospace & defence, automotive, PCB, sporting goods, etc. The resins types include thermoplastic and thermostat resins. The reinforcement types are aramid fibre, carbon fibre, and glass fibre while the different manufacturing processes include solvent dip and hot melt.
The geographical segmentation of the market is done into Asia-Pacific, Europe, North America and rest of the world. A tremendous demand for prepregs from aerospace sectors has led the North American region to capture the biggest market share. The APAC market is also growing steadily with China and Japan being the major contributors to this region. Industries like aerospace and aviation, marine industry and wind energy generation are augmenting the demand in this market.
Inorganic growth by undertaking different corporate strategic moves is emerging as the key trend for several global prepreg market players. Some of these players include Celanese, Axiom Materials, Cytec Solvay Group, Hexcel Corporation, Royal Ten Cate N.V,Gurit Holding Ag, Park Electrochemical Corp, Mitsubishi Rayon Co. Ltd, Renegade Materials Corporation, SGL Group, Teijin Limited, Uni-carbon, Toray Industries Inc, Zyvex Technologies and Vantec Group.