Tooling Prepreg Market Report
Tooling Prepreg Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026 See less
Tooling Prepreg Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026
Tooling Prepreg Market is Segmented by End-Use Industry Type (Aerospace, Automotive, Industrial, and Others), by Process Type (Autoclave and Out-of-Autoclave), by Resin Type (Epoxy Prepreg, BMI Prepreg, and Others), by Fiber Type (Carbon Fiber Prepreg and Glass Fiber Prepreg), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Tooling Prepreg Market is Segmented by End-Use Industry Type (Aerospace, Automotive, Industrial, and Others), by Process Type (Autoclave and Out-of-Autoclave), by Resin Type (Epoxy Prepreg, BMI Prepreg, and Others), by Fiber Type (...
Tooling prepreg is used to make high-quality composite tools, also known as molds, for various industries. It is mainly reinforced with carbon fiber or glass fiber which is impregnated with resins like epoxy, BMI, and others. For the manufacturing of composite parts, tools made from tooling prepregs can withstand several curing cycles. The biggest advantage of tooling prepreg-made molds over metal molds is that its CTE (Coefficient of thermal expansion) is close to the CTE of parts; hence, during cure, shrinkage and thermal expansions of tools and parts are almost similar which helps to maintain the part’s dimensional accuracy.
The tooling prepreg market was severely hit by the pandemic in 2020, majorly influenced by the downfall of end-use industries, such as aerospace, automotive, and industrial. The tooling prepreg market logged a massive decline of -30.7% in 2020, creating a lag of more than 4 years in the market.
In the post-pandemic market developments, the tooling prepreg market is set to grow at an impressive CAGR of 9.1% to reach US$ 0.2 Billion in 2026. An expected recovery in the aerospace and automotive industries coupled with an incessant increase in the penetration of composites is likely to drive the demand for molds in the years come. Furthermore, the inherent benefits of tooling prepregs help the material to gain more acceptance in the market.
Based on the end-use industry type, the tooling prepreg market is segmented as aerospace, automotive, industrial, and others. Aerospace is expected to remain the biggest demand generator for tooling prepregs during the forecast period. The industry type is also subjected to grow fastest in the post-pandemic market developments. Prepreg is majorly used in aerospace tooling applications owing to its advantages, such as CTE near to the CTE of the parts, and easy fabrication into complex tool shapes.
Based on the process type, the market is segmented as autoclave prepreg and out-of-autoclave (OoA) prepreg. Autoclave is the dominant process type in the market during the forecast period, whereas out-of-autoclave prepreg is expected to experience faster growth during the same period. The dominance of autoclave tooling prepreg is due to its outstanding mechanical properties and service temperature. The out-of-autoclave process is gaining faster acceptance in the market as it provides excellent surface finish and low void content with an overall low equipment cost.
Based on the resin type, the tooling prepreg market is segmented as epoxy prepreg, BMI prepreg, and other prepreg. Epoxy resin is likely to maintain its dominance during the forecast period. Epoxy resin is suitable for low production rates and is used as a low-cost solution for prototype and one-off development tool design. BMI is expected to remain the second-dominant and the highest-growing segment during the forecast period. BMI resin is generally used for high-rate production as it becomes economical, whereas, for a single tool, it is extremely expensive as it requires a master mold.
Based on the fiber type, the market is segmented as carbon fiber prepreg and glass fiber prepreg. Carbon fiber is expected to remain the most preferred fiber type in the market during the forecast period. Higher specific strength, lightweight, and excellent corrosion resistance are some key factors behind its dominance.
In terms of regions, North America is expected to remain the largest market for tooling prepregs during the forecast period. The USA is the growth engine of the region’s market with the presence of several tooling prepreg manufacturers, aircraft and automotive OEMs, tier players, and raw material suppliers. Asia-Pacific is likely to experience the fastest growth during the same period, mainly driven by emerging economies such as China and India.
The following are the key players in the tooling prepreg market. Most of the major players are providing tooling prepregs for almost all the major end-use industries.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s tooling prepreg market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
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 1000 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 industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The tooling prepreg market is segmented into the following categories.
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The tooling prepreg market is estimated to grow at a CAGR of 9.1% by 2026. An expected recovery in the demand for advanced composites, particularly in the Aerospace industry, is likely to drive the demand for tooling prepregs in the years to come.
Toray Advanced Composites, Hexcel Corporation, Solvay S.A., Airtech Advanced Materials Group, 3M, GMS Composites, SHD Composites Material Ltd, and PRF Composite Materials are the leading players in the tooling prepreg market.
North America is estimated to remain dominant in the tooling prepreg market in the foreseen future. The USA is not only the largest market in North America but also in the global marketplace.
The tooling prepreg market size is expected to reach US$ 0.2 Billion in the foreseeable future.
Aerospace is expected to be the biggest demand generator in the tooling prepreg market during the forecast period.
Epoxy resin is expected to remain dominant resin type in the tooling prepreg market in the coming years.