Thermoplastic Prepreg Market Growth Analysis | 2021-2026

Market Insights

Thermoplastic prepregs offer a series of advantages including faster part cycle time, recyclability, ease of fabrication, and excellent mechanical properties. Major aircraft OEMs: Boeing, Airbus, and Gulfstream have efficaciously started leveraging the potential of thermoplastic composites from the tail to wings to fuselage components in their latest aircraft.

Though thermoset prepregs have been the perennial choice for several decades in the aerospace industry, the penetration of thermoplastic composites is likely to rise in the future with the continuous advancements in materials, technology, and processes. Major thermoplastic prepreg manufacturers are avidly working with tier players and OEMs in order to develop new applications using thermoplastic prepregs.

Stratview Research estimates that the thermoplastic prepreg market is likely to grow progressively, reaching a value of US$ 170.2 Million by 2026.

Want to know more about the market scope? Register Here

Market Highlights

The outburst of COVID-19 has caused an unnerving impact on the two key demand-generators of thermoplastic prepreg, the aerospace, and automotive industries. The aerospace industry was the hardest hit by the pandemic with grave repercussions in the first half of 2020. Similarly, the automotive production levels slumped massively in 2020, imprinting an appalling impact on the industry (Automotive production’s plummet during the Great Recession: -12.1% YoY 2008-2009 and The Great Lockdown: -22% YoY 2019-2020).

However, the rapid recoveries logged during the Great Recession, SARS, MERS, etc., coupled with several primaries conducted across the supply chain, the global market for thermoplastic prepreg gained momentum.

Thermoplastic prepreg currently accounts for less than 5% of the global prepreg market; however, it is likely to grow at a faster rate than the overall prepreg market in the coming five years, driven by an expected recovery in the aerospace & defense and automotive industries.

Market Dynamics

Some of the key factors that will burgeon the demand for thermoplastic prepregs in the long run are –

• Expected recuperation in the production rates of commercial and regional aircraft, such as thermoplastic composite-rich next-generation aircraft, B787, and A350XWB.
• Rising demand for lightweight recyclable parts.
• Reduced part cycle time coupled with the lower processing cost of thermoplastic composite parts as compared to thermoset composite parts.
• Stringent regulations regarding fuel efficiency and carbon emissions in the aerospace and automotive industries.

Want to have a closer look at this market report? Click Here.

Segment Analysis

By End-Use Industry Type

The thermoplastic prepreg market is segmented based on the end-use industries such as aerospace & defense, consumer goods, automotive, and others. Despite suffering a grave impact of the pandemic in 2020, aerospace & defense is projected to remain the most dominant segment of the market during the forecast period. Gradually rebounding the production of commercial aircraft coupled with an increase in penetration of thermoplastic composites, especially in composite-rich aircraft programs, such as B787 and A350XWB is likely to fuel the growth of the segment in the long term. Clips and cleats used in the fuselage are the major applications of thermoplastic prepregs in these aircraft programs.

By Resin Type

Based on the resin type, we have segmented the market as PPS, PEEK, PEI, and others. PPS resin is likely to maintain its unquestionable lead in the market, along with the fastest recovery in the post-pandemic scenario. PPS resin has good dimensional stability even at elevated temperatures and in the harsh chemical environment coupled with the advantage of the ease of molding complex parts with a tight tolerance making them the preferred material for various aircraft applications, especially in aircraft airframe. The aircraft industry is also showing a sheer interest in PEEK-based thermoplastic prepregs.

By Fiber Type

Based on the fiber type, carbon fiber is projected to remain the larger segment of the market during the forecast period. Carbon fiber offers numerous advantages, such as excellent weight reduction, high strength-to-weight ratio, high tensile and compressive strength, low coefficient of thermal expansion, and high fatigue resistance but at a very high cost. Major thermoplastic composite applications in aircraft, such as clips and cleats, are fabricated with carbon fiber-based thermoplastic prepreg.

By Manufacturing Process Type

Based on the manufacturing process type, we have classified the market as compression molding, injection molding, AFP (Automated Fiber Placement)/ATL (Automated Tape Layup), and others. Compression molding is expected to maintain its supremacy in the market. The process offers a faster part cycle time, reduced part wastage, and reduced defects, which overall leads to a lower part cost. On the other hand, AFP/ATL is likely to grow at the quickest pace during the same period, driven by increasing demand for an automated process that can lay the prepreg at a faster rate than the manual layup process and generate low void content.

Regional Insights

In terms of regions, Europe is expected to maintain its unassailable dominance in the market, also recovering at the fastest rate during the forecast period. Airbus is one of the major consumers of thermoplastic prepregs in Europe. Major thermoplastic component manufacturers have set up their manufacturing plants in the region in order to remain proximal with the Airbus assembly plants to fulfill its current and future requirements of composite parts made with thermoplastic prepregs. North America suffered the most severe jolt due to the pandemic, subsequently marking a fast rally. The major OEMs, Boeing and Gulfstream Aerospace are likely to drive the demand for thermoplastic composite parts in the region in the long run.

Know the high-growth countries in this report. Register Here

Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

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 thermoplastic prepreg market is segmented into the following categories.

By End-Use Industry

• Aerospace & Defense
• Automotive
• Consumer Goods
• Others

By Resin Type

• PPS Prepreg
• PEEK Prepreg
• PEI Prepreg
• Other Prepregs

By Fiber Type

• Carbon Fiber Prepreg
• Glass Fiber Prepreg

By Form Type

• UD Prepreg
• Fabric Prepreg

By Process Type

• Compression Molding
• Injection Molding
• AFP/ATL
• Others

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, the Netherlands, France, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Click Here, to learn the market segmentation details.

Key Players

The supply chain of this market comprises raw material suppliers, thermoplastic prepreg manufacturers, distributors, thermoplastic composite component manufacturers, OEMs, and MRO companies.

The key thermoplastic prepreg manufacturers include-

• Solvay S.A.
• Toray Industries, Inc.
• Lanxess A.G
• SABIC
• Teijin Group.

Some of the major end-users in the thermoplastic prepreg market include-

• Airbus
• Boeing
• Gulfstream Aerospace
• Dassault Aviation
• Lenovo
• Hewlett-Packard (HP)

The formation of long-term contracts, application development, and development of innovative products are some of the key strategies adopted by the major players in order to gain a competitive edge in the market.

Research Methodology

For calculating the market size, our analysts follow either a Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are 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.

We leverage the multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data.

More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Report Features

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s thermoplastic 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. Also, the report provides the possible loss that the industry is likely to register by comparing pre-COVID and post-COVID scenarios. The vital data/information provided in the report can play a crucial role for market participants as well as investors in formulating short-term as well as long-term growth strategies.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across the 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.