Wind Energy Applications Will Enhance The Global Prepreg Market Growth At 4.67% Of Cagr By 2027

Triton Market Research presents the Global Prepreg Market report segmented by Type of Resins (Thermoset and Thermoplastic), Manufacturing Process (Hot Melt and Solvent Dip process), Type of Reinforcement (Carbon Fiber, Glass Fiber and Aramid Fiber reinforcements), Applications (Aerospace & Defense, Wind Energy, Automotive, Sporting Goods, PCB and Other sectors) and by geography (North America, Europe, Asia Pacific and Rest of World). It further discusses the Industry Value Chain Analysis, Porter's 5 Force Analysis, Drivers, Restraints, Vendor Profiles, Global Market Size, Forecasts & Analysis (2019-2027).

Triton Market Research has determined that the Global Prepreg Market be collectively growing at a compound annual growth rate approximately 4.67% during the forecasting years of 2019-2027. The demand for carbon fiber prepreg materials, offering both high strength and lightweight benefits, is increasing from the aircraft manufacturing industry as the prepregs satisfy their weight reduction cum heightened fuel efficiency requirement. Also, the same feature is satisfying the consumers from the automotive industry who are manufacturing hybrid & electric vehicles, which is going to provide growth opportunities to the prepreg market shortly. Furthermore, the ease of handling the prepregs and their convenient utilization in making wind turbines for the growing wind energy market is proliferating the prepreg market growth globally.

The wind energy market has been determined to be the most rapidly growing segment for the prepreg market. This can be justified to the increasing demands from the wind energy industry for making wind turbines as prepregs offer exceptional environmental resistance, stable mechanical performance, and ease of their processing. Also, the recommendations favoring wind energy market like governmental incentives and awareness about clean energy are expected to drive the market growth for prepregs.

The prepreg market vendors are offering state-of-the-art products to cater to the amplified demand from the aerospace industry of North America, which holds onto the largest share by revenue of the global prepreg market. The United States with its powerful economy and significant GDP has the fastest growing market for prepregs, mainly by the country’s automotive industry. The Asia Pacific region comprising the most evolving market changes the market share equilibrium as there is an increased focus on development & rapid industrialization in the Asian giants like China, India, and Japan.

The major contenders for the global prepreg market are Axiom Materials, Celanese, Cytec Solvay Group, Gurit Holding AG, Hexcel Corporation, Mitsubishi Rayon Co. Ltd., Park Electrochemical Corp., Renegade Materials Corporation, Royal Ten Cate N.V., SGL Group, Teijin Limited, Toray Industries, Inc., Unicarbon, Ventec Group and Zyvex Labs.