Tow Prepreg Market Analysis | 2021-2026

“The Tow Prepreg Market is expected to grow at a promising CAGR of 10.0% during the forecast period”.

Market Dynamics

Introduction

Tow prepreg refers to a composite material made by impregnating continuous carbon fiber tows with a resin matrix, typically epoxy. The carbon fiber tows are pre-impregnated with resin to ensure uniform distribution and resin content. This ready-to-use material is commonly used in aerospace, automotive, and sports equipment for lightweight and strong components.

A tow prepreg is a fiber bundle or a towing product that is pre-impregnated with resin. A high level of productivity can be achieved by making use of two prepregs with the filament winding method, a forming method that is used in CF shaft and gas cylinder production.

Market Drivers

The growing demand from various industries such as aerospace & defense, automotive & transportation, and oil & gas is the main factor contributing to the growth of the tow prepreg market. The surge in the production of commercial aircraft by Boeing and Airbus to cater to the increasing airline traffic of passengers is also bolstering the growth of the market. Further, the mounting use of tow prepregs in electric cars and aircraft is substantially underpinning the growth of the market, globally.

Segments Analysis

By End-Use Industry Type

“The automotive and transportation industry is anticipated for the fastest growth”.

The market is segmented as aerospace & defense, trends in the aerospace industry, automotive & transportation, sports & recreational, oil & gas, and others. The automotive & transportation industry is expected to be the fastest-growing segment of the tow prepreg market due to the use of tow prepreg in the manufacturing of CNG cylinders, transmission axles, leaf springs, and other automotive components used in the automotive industry. There are many challenges that the automotive industry faces in terms of enhancing energy efficiency, reduction in vehicle emissions, and increasing durability.

Tow prepregs are increasingly preferred by the industry to achieve much improved and better performance, including high mechanical features and low weight. Due to stringent environmental factors, car manufacturers come under pressure to manufacture more fuel-efficient cars, so that the carbon emissions can be reduced, eventually fueling the growth of the tow prepreg market during the forecast period.

By Fiber Type

“Carbon fiber will dominate the market during the forecast period”.

The market is segmented as carbon fiber, glass, and others. Carbon fiber is expected to be the largest segment of the market during the forecast period, in terms of value, owing to its wide use in various industries such as aerospace & defense, automotive & transportation, and sports & recreational sectors. This fiber offers features such as higher strength modulus, higher tensile strength, and elastic modulus in comparison to the other fiber types.

Regional Analysis

“Europe is expected to lead the tow prepreg market during the forecast period”.

The market is broken down geographically into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In terms of regions, Europe is estimated to be the leading region in the tow prepreg market during the forecast period, with The UK and Germany being the major countries with a large number of offshore wind energy installations and lucrative growth opportunities. The aerospace & defense industry has launched Airbus A320 and the Eurofighter successfully in the region.

The penetration of the aerospace & defense industry in Europe by tow prepreg manufacturers is due to the low corporate income tax and growth in the industry. The strict rules and regulations implemented by the European Union Automotive Fuel Economy standard are to reduce the emission of carbon by making use of lightweight materials and the EU has also agreed to reduce 37.5% of carbon in cars by the year 2030, which in turn, has led to the wide use of tow prepregs in electric cars in the European region. Asia-Pacific and North America are also expected to offer substantial growth opportunities during the forecast period.

Key Players

The following are the key players in the Tow Prepreg Market (arranged alphabetically)

• ARISAWA Mfg. Co., Ltd.
• HEXCEL Corporation
• JXTG Holdings, Inc.
• Mitsubishi Chemical Holdings Corporation
• Porcher Industries
• Red Composites Ltd.
• SGL Carbon SE
• TCR Composites, Inc.
• Teijin Limited
• VITECH COMPOSITES.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

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This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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