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North American Prepreg Market Growth Analysis | 2023-2028
North American Prepreg Market Size, Share, Trends, Forecast, & Growth Analysis - 2023-2028
Exhibiting an impressive YoY growth of >25%, the North American prepreg market was valued at USD 1.6 billion in 2022 and is estimated to reach USD 3.3 billion in 2028, with a healthy CAGR of 9.9% during 2023-28.
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What is prepreg?
Prepreg is one of the most common forms of composite materials in which the reinforcement material is pre-impregnated with either a thermoplastic or thermoset resin system in a predefined ratio. It enables a consistent resin/matrix ratio in the finished product; thus, delivering uniform mechanical and physical properties throughout the final part. The resin system in prepregs is partially cured for ease of handling and to prevent complete polymerization, it is stored in a cool place. This is the b-stage product and needs to be heated in an autoclave or oven during the fabrication to achieve full polymerization. With the advent of the growing demand for composites, the usage of prepregs is growing and is finding a place in a multitude of applications.
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North American Prepreg Market Report Highlights |
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Market Size in 2022 |
USD 1.6 billion |
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Market Size in 2028 |
USD 3.3 billion |
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Market Growth (2023-2028) |
9.9% CAGR |
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Base Year of Study |
2022 |
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Trend Period |
2017-2021 |
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Forecast Period |
2023-2028 |
In the aerospace industry, prepregs are increasingly being used owing to their advantages such as weight reduction, ease of use, low void content, exceptionally low thermal expansion of coefficient, and control of laminate thickness. The aerospace industry uses epoxies for highly loaded parts and supreme toughness, BMI systems for high-temperature performance, phenolics for fire, smoke, and toxicity performance in aircraft interiors, and cyanate esters for space structures and satellite applications.
The composite industry stakeholders witnessed a sharp rise in carbon prepreg prices in the year 2022, mainly due to supply chain constraints and the Russo-Ukrainian war. Despite short-term demand fluctuations, the long-term market outlook seems favorable to the industry stakeholders. Key factors fueling the market’s growth are an expected rise in the production rate of key aircraft programs (B737 Max, B787, A320neo, and A350XWB), expected entry of programs (B777x), increasing installations of wind turbines with an increase in average blade length, increasing incorporation of advanced composites in automobiles, and excellent growth in boats.
Recent Product Developments: Low cycle time, cost-effectiveness, and high heat resistance are the indispensable focus areas of the leading players during product developments.
Recent Market JVs and Acquisitions: In order to expand product portfolio and geographical reach, major players have acquired other players to gain a competitive advantage.
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The north american prepreg market is segmented into aerospace & defense, wind energy, sporting goods, automotive, marine, civil engineering, and others. The aerospace & defense industry grabbed a major chunk of the market in 2022 and is expected to remain the growth engine of the market until 2028. Thermoset UD prepreg, especially epoxy UD prepreg, is used to fabricate primary structures, including fuselage and wings, of the next-generation aircraft, such as the B737 and A350XWB, whereas thermoplastic UD prepreg is found usage in small parts, such as clips, cleats, brackets, and profiles.
The market is segmented into thermoset prepreg and thermoplastic prepreg. Thermoset prepreg captured a higher share of the market in 2022, whereas thermoplastic prepreg is likely to mark a higher growth till 2028. Thermoset prepreg, especially carbon fiber-reinforced UD prepreg, is mostly found in the aerospace industry for a wide range of applications, including primary aerostructures.
Key applications other than the aerospace industry are car body panels and monocoque; golf shafts, fishing rods, and other sporting goods; wind turbine blades; and MRI/CT scan tables. Thermoplastics offer exceptional properties such as higher toughness, high chemical resistance, easier & quicker consolidation, quick cycle time, recyclability, and unlimited shelf life. PEEK, PEKK, PAEK, PEI, and PPS are among the most used high-performance thermoplastic resins.
The market is segmented into carbon fiber prepreg, glass fiber prepreg, and aramid fiber prepreg. Carbon Fiber to remain the most attractive fiber type till 2028. It was the largest segment in 2022 and is anticipated to remain the fastest-growing segment, primarily driven by increasing demand from aerospace & defense, automotive, sporting goods, and wind energy.
Most of the major aerospace structural applications, fuselage, wings, spars, and control surfaces, are preferably manufactured using carbon fiber prepreg. Spar sections of longer wind turbine blades are also fabricated using carbon fiber prepreg. Similarly, golf shafts, hockey sticks, and fishing rods are also fabricated using carbon fiber prepreg.
The USA is expected to remain the largest market for prepreg in North America during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators. Most of the prepreg suppliers have their presence in the region to address the emergent needs of OEMs.
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Critical Questions Answered in the Report
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The north american prepreg market is segmented into the following categories.
By End-Use Industry Type
By Resin Type
By Fiber Type
By Form Type
By Country
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The market is less populated with the presence of a handful number of players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the north american prepreg market:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s north american prepreg market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner 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 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 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.
What Deliverables Will You Get in this Report?
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Key questions this report answers |
Relevant contents in the report |
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How big is the sales opportunity? |
In-depth Analysis of the North American Prepreg Market |
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How lucrative is the future? |
Market forecast and trend data and emerging trends |
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Which regions offer the best sales opportunities? |
Global, regional, and country-level historical data and forecasts |
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Which are the most attractive market segments? |
Market Segment Analysis and Forecast |
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Which are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis |
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How complex is the business environment? |
Porter’s five forces analysis, PEST analysis, Life cycle analysis |
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What are the factors affecting the market? |
Drivers & challenges |
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Will I get the information on my specific requirements? |
10% free customization |
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
Prepreg is one of the most common forms of composite materials in which the reinforcement material is pre-impregnated with either a thermoplastic or thermoset resin system in a predefined ratio. It enables a consistent resin/matrix ratio in the finished product; thus, delivering uniform mechanical and physical properties throughout the final part. The resin system in prepregs is partially cured for ease of handling and to prevent complete polymerization, it is stored in a cool place. This is the b-stage product and needs to be heated in an autoclave or oven during the fabrication to achieve full polymerization. With the advent of the growing demand for composites, the usage of prepregs is growing and is finding a place in a multitude of applications.
The north american prepreg market was estimated at USD 1.6 billion in 2022.
The north american prepreg market is likely to reach USD 3.3 billion in 2028.
The north american prepreg market is likely to grow at a healthy CAGR of 9.9% during 2023-2028.
Hexcel Corporation, Solvay S.A., Toray Industries, Inc., Celanese Corporation, Gurit Holding AG, Mitsubishi Chemical Carbon Fiber and Composites, Park Electrochemical Corporation, SABIC, SGL Carbon SE, Teijin Limited are among the leading players in the market.
The aerospace hub, USA is estimated to remain dominant in the market in the foreseen future. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators.
Carbon Fiber to remain the most attractive fiber type till 2028. It was the largest segment in 2022 and is anticipated to remain the fastest-growing segment, primarily driven by increasing demand from aerospace & defense, automotive, sporting goods, and wind energy.
Thermoset prepreg captured a higher share of the market in 2022, whereas thermoplastic prepreg is likely to mark a higher growth till 2028. Thermoset prepreg, especially carbon fiber-reinforced UD prepreg, is mostly found in the aerospace industry for a wide range of applications, including primary aerostructures.
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