Prepreg Market Size, Trends, Share, Growth | Report 2023-2032
The global prepreg market was valued at USD 11.07 billion in 2022 and it is predicted to surpass around USD 30.98 billion by 2032 with a CAGR of 10.84% from 2023 to 2032.
Key Pointers
Report Scope of the Prepreg Market
| Report Coverage | Details |
| Market Size in 2022 | USD 11.07 billion |
| Revenue Forecast by 2032 | USD 30.98 billion |
| Growth rate from 2023 to 2032 | CAGR of 10.84% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Covered | Park Electrochemical Corp.; Axiom Materials, Inc.; Mitsubishi Rayon Co.; LTD, Royal Ten Cate NV; Teijin Limited; Hexcel Corporation; Gurit Holding; SGL Group; Toray Industries; Cytec Industries. |
The market is expected to witness robust growth on account of the increasing use of prepreg materials in the aerospace and automotive industries. Surging demand for light and durable materials with increased efficiency in the manufacturing of aerospace components has driven the prepreg industry in the past few years. Furthermore, the rising use of lightweight blades in wind turbines to improve fuel efficiency is another key driver of the prepreg industry. The prepreg fibers with superior strength and lightweight are vital for the aircraft manufacturing industry. Replacing traditional materials with lightweight composites is an effective path towards meeting the aim of producing lightweight aircraft to increase fuel efficiency, decrease emissions, and reduce material usage, which translates into a growing adoption of prepreg materials.
U.S. led the North America regional prepreg industry in 2022 and will expand further at a significant CAGR during the forecast period. Rising demand for materials with low density, low electrical conductivity, and high durability and strength across various industries such as aerospace & defense, automotive, and wind energy is projected to augment the market growth for prepreg.
The aerospace & defense systems manufacturers in the U.S. are registering strong gains from the export of manufactured aircraft parts, which has led to an upward trend in the consumption of prepreg. This can be attributed to the increasing use of prepreg in the parts of aircraft, helicopters, defense aircraft, and aero engines.
High manufacturing costs of aramid, carbon, and glass fibers, which are used as raw materials for the production of prepreg inflate the final product price. Increased raw material prices are projected to pose a threat to market expansion. However, the rising adoption of advanced processing and assembly techniques to minimize the lead time and enhance product quality is projected to benefit the market growth of prepreg.
Major market players of prepreg have a strong presence across the various stages of the value chain including raw material supply and product manufacturing. This enables them to procure raw materials at affordable prices and gain a competitive edge. In addition, companies are focusing on R&D investments to develop high-quality products, which is likely to stimulate industry growth.
Regional Insights
North America accounted for a market share of 37.74% in 2022. It is estimated to grow further at a significant CAGR during the forecast period. This growth is attributed to the rapidly expanding aerospace industry in North America. Rising awareness among the population regarding the benefits of using wind energy is also expected to drive the wind sector market growth.
Asia Pacific is projected to become the fastest-growing regional market at a CAGR of 12.22% during the forecast period. This growth is attributed to rapidly expanding application industries in developing countries including China, India, and Japan. The wind energy application segment is estimated to register the maximum CAGR during the forecast period, while the aerospace & defense segment accounts for the major share of the APAC regional prepreg industry. Europe is estimated to witness steady development over the forecast years.
Prepreg Market Segmentations:
| By Fiber | By Resin | By Manufacturing Process | By Application |
|
Carbon Glass Aramid |
Thermoset Thermoplastic |
Hot-melt Solvent dip |
Aerospace & Defense Automotive Wind Energy Sporting Goods Others |
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Prepreg Market
5.1. COVID-19 Landscape: Prepreg Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Prepreg Market, By Fiber
8.1. Prepreg Market, by Fiber, 2023-2032
8.1.1. Carbon
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Glass
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Aramid
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Prepreg Market, By Resin
9.1. Prepreg Market, by Resin, 2023-2032
9.1.1. Thermoset
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Thermoplastic
9.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Prepreg Market, By Manufacturing Process
10.1. Prepreg Market, by Manufacturing Process, 2023-2032
10.1.1. Hot-melt
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Solvent dip
10.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Prepreg Market, By Application
11.1. Prepreg Market, by Application, 2023-2032
11.1.1. Aerospace & Defense
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Automotive
11.1.2.1. Market Revenue and Forecast (2020-2032)
11.1.3. Wind Energy
11.1.3.1. Market Revenue and Forecast (2020-2032)
11.1.4. Sporting Goods
11.1.4.1. Market Revenue and Forecast (2020-2032)
11.1.5. Others
11.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Prepreg Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.1.2. Market Revenue and Forecast, by Resin (2020-2032)
12.1.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.1.4. Market Revenue and Forecast, by Application (2020-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.1.5.2. Market Revenue and Forecast, by Resin (2020-2032)
12.1.5.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.1.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.1.6.2. Market Revenue and Forecast, by Resin (2020-2032)
12.1.6.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.1.6.4. Market Revenue and Forecast, by Application (2020-2032)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.2.2. Market Revenue and Forecast, by Resin (2020-2032)
12.2.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.2.4. Market Revenue and Forecast, by Application (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.2.5.2. Market Revenue and Forecast, by Resin (2020-2032)
12.2.5.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.2.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.2.6.2. Market Revenue and Forecast, by Resin (2020-2032)
12.2.6.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.2.6.4. Market Revenue and Forecast, by Application (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.2.7.2. Market Revenue and Forecast, by Resin (2020-2032)
12.2.7.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.2.7.4. Market Revenue and Forecast, by Application (2020-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.2.8.2. Market Revenue and Forecast, by Resin (2020-2032)
12.2.8.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.2.8.4. Market Revenue and Forecast, by Application (2020-2032)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.3.2. Market Revenue and Forecast, by Resin (2020-2032)
12.3.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.3.4. Market Revenue and Forecast, by Application (2020-2032)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.3.5.2. Market Revenue and Forecast, by Resin (2020-2032)
12.3.5.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.3.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.3.6.2. Market Revenue and Forecast, by Resin (2020-2032)
12.3.6.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.3.6.4. Market Revenue and Forecast, by Application (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.3.7.2. Market Revenue and Forecast, by Resin (2020-2032)
12.3.7.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.3.7.4. Market Revenue and Forecast, by Application (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.3.8.2. Market Revenue and Forecast, by Resin (2020-2032)
12.3.8.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.3.8.4. Market Revenue and Forecast, by Application (2020-2032)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.4.2. Market Revenue and Forecast, by Resin (2020-2032)
12.4.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.4.4. Market Revenue and Forecast, by Application (2020-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.4.5.2. Market Revenue and Forecast, by Resin (2020-2032)
12.4.5.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.4.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.4.6.2. Market Revenue and Forecast, by Resin (2020-2032)
12.4.6.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.4.6.4. Market Revenue and Forecast, by Application (2020-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.4.7.2. Market Revenue and Forecast, by Resin (2020-2032)
12.4.7.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.4.7.4. Market Revenue and Forecast, by Application (2020-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.4.8.2. Market Revenue and Forecast, by Resin (2020-2032)
12.4.8.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.4.8.4. Market Revenue and Forecast, by Application (2020-2032)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.5.2. Market Revenue and Forecast, by Resin (2020-2032)
12.5.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.5.5.2. Market Revenue and Forecast, by Resin (2020-2032)
12.5.5.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.5.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Fiber (2020-2032)
12.5.6.2. Market Revenue and Forecast, by Resin (2020-2032)
12.5.6.3. Market Revenue and Forecast, by Manufacturing Process (2020-2032)
12.5.6.4. Market Revenue and Forecast, by Application (2020-2032)
Chapter 13. Company Profiles
13.1. Park Electrochemical Corp.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Axiom Materials, Inc.
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Mitsubishi Rayon Co.; LTD
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Royal Ten Cate NV
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Teijin Limited
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Hexcel Corporation
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Gurit Holding
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. SGL Group
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Toray Industries
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Cytec Industries.
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers