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Glass Prepreg Market Report
Glass Fiber Prepreg Market is Segmented by End-Use Industry Type (Aerospace & Defense, Automotive, Consumer Goods, Wind Energy, and Others), by Resin Type (Thermoset Prepreg and Thermoplastic Prepreg), by Form Type (UD Prepreg and Fabric Prepreg), by Curing Type ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Glass fiber or fiberglass is the oldest, and most familiar, performance fiber. Prepregs made from glass fiber offer several advantages such as superior FST performance, moderate strength-to-weight ratio, and are lower in weight as compared to traditional materials, such as aluminum and steel. Glass fiber is widely used by various part fabricators to reduce the weight in different applications such as automotive components, wind turbine blades, and sporting goods. However, the crucial factor acting as the market constraint is its possible carcinogenic effect, coupled with low awareness about its usage in the emerging economies.
The year 2020 has unfolded as one of the most perplexing times, causing dismay across end-use industries. The biggest demand-generator, wind energy is no exception. With the disruption in the supply chain, production delays and halts, deferring project milestones, and canceled orders, the industry is facing a grave impact of the pandemic’s aftermath.
Stratview Research’s estimates suggest that the market is set to log a massive downturn in 2020, subsequently picking up pace during the next five years to reach an estimated value of US$ 762.2 million in 2026. Several factors behind this long-term rejuvenation of glass prepreg demand would be increasing demand for lightweight vehicles and aircraft, growing usage in new applications, the introduction of stricter emission regulations, etc. Furthermore, the governments of all the major economies are heavily investing in renewable sources of energy such as wind energy, assuring a sustainable demand for composite materials.
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Based on the end-use industry, Stratview research has segmented the market as aerospace & defense, automotive, wind energy, consumer goods, and others. Wind energy is expected to remain the largest segment of the market during the forecast period, driven by increasing wind turbine installations worldwide. The increasing wind blade length leads to the demand for a material with the high load-bearing property. Non-woven glass fiber prepreg-based wind turbine blades provide higher load-bearing capacity than woven prepreg-based blades and are highly suitable for longer wind blades. Rotor blades strengthened with fiberglass can achieve lengths of up to 80 meters/262 ft. and are used on land and offshore windmill systems.
Post severe decline in 2020, the automotive segment is anticipated to bounce back with a healthy pace in the years to come. Glass fiber prepreg is used in various automotive applications such as monocoque, hood, door panel, roof, body panels, leaf spring, and closures. The growing penetration of composite materials in the automotive industry is likely to give an impetus to the glass prepreg market.
Based on the resin type, we have classified the market as thermoset and thermoplastic glass fiber prepregs. Thermoset prepreg is likely to maintain its undeniable supremacy in the market during the forecast period. Thermoset prepregs have been enjoying a long and marvelous history in several industries such as aerospace & defense, wind energy, and automotive. They offer a broad range of favorable properties such as mechanical, chemical, and dimensional stability, low cost, and ease of processing and handling.
In terms of region, North America is projected to remain the largest market during the forecast period. North America is the largest manufacturing hub of prepreg, backed by key demand generators such as Aircraft OEMs (Boeing, Lockheed Martin Corporation, and Gulfstream Aerospace Corporation), Automotive OEMs (Ford, General Motors, and Fiat Chrysler), and Wind Turbine manufacturers (GE Power).
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Asia-Pacific is projected to be the fastest-growing market during the forecast period. In 2019, the total installed wind capacity in Asia-Pacific reached 290.6 GW, representing a 44% share of the global market. Upcoming commercial aircraft program i.e. C919, the opening of assembly plants in China by Boeing and Airbus, a rapid shift in manufacturing plants of automotive OEMs in the region from North America and Europe, and increasing focus towards renewable source of energy such as wind energy are the major growth drivers of the region’s market in the long-term.
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Research Scope |
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Trend & Forecast Period |
2015-2026 |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Size in 2026 |
US$ 762.2 million |
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Countries/Subregions Covered |
The USA, Canada, Mexico, Germany, France, the UK, Spain, Russia, China, Japan, India, Latin America, the Middle East and others |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The glass fiber prepreg market is segmented into the following categories.
