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    Aerospace Prepreg Market Size, Share & Forecast (2019-2024)

    Aerospace Prepreg Market Size, Share & Forecast (2019-2024)
    Report code - SRAD200 Published On : Feb,2019 No. of Pages: 324
    Aerospace Prepreg Market Size, Share, Trend, Forecast, & Competitive Analysis: 2019-20 See more...
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    Aerospace Prepregs Market Insights

    Composite materials have been witnessing the most disruptive journey especially in the aerospace & defense industry where the penetration of advanced composites has reached up to 53% of the total structural weight of the next-generation aircraft programs, such as A350XWB and B787, in order to make the aircraft lightweight yet durable with an ultimate aim to enhance fuel efficiency. Prepreg is an intermediate material and is one of the most common forms of composite materials in which the reinforcement material is pre-impregnated with either thermoplastic or thermoset resin system in a predefined ratio. It is one of the most preferred materials used for fabricating different parts and components in the aerospace industry as it enables consistent resin/matrix ratio in the finished product, thus delivering uniform mechanical and physical properties throughout the final part or component.

    The global aerospace prepreg market is expected to grow at a healthy rate over the next five years to reach an estimated value of US$ 4.9 billion in 2024. Currently, aerospace alone accounts for more than 70% of the total prepreg market and it is expected to gain further share in the years to come, propelled by an incessant increase in the penetration of composites in the upcoming aircraft programs with prepreg being the material of choice.

    Aerospace Prepreg Market Forecast

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    The market for aerospace prepreg is gradually consolidating as the major companies are performing mergers & acquisitions to quickly gain the leading position and to tap growing opportunities in the market. For instance; Solvay S.A., a leading global supplier of advanced material for a wide array of applications, acquired the Cytec Industries Inc. at a total purchase price of approximately US$ 5.5 Billion. After the acquisition of Cytec Industries Inc.; Solvay S.A. has become the second-largest player in the aerospace prepreg market.

    Similarly, in 2018, Toray, the world’s largest carbon fiber manufacturer, acquired TenCate Advanced Composites Holding B.V. (TCAC), a fully-owned subsidiary of Koninklijke Ten Cate B.V., at an agreed purchase price of 930 million Euro. TCAC is the leading supplier of carbon fiber-reinforced thermoplastic tapes and high heat-resistant thermoset prepregs to the aerospace industry.

    Several factors driving the growth of prepreg in the aerospace industry are increasing demand for fuel-efficient aircraft coupled with composites becoming the material of choice; increasing production of the prepreg-rich aircraft programs including B787 and A350XWB; upcoming aircraft programs with high composites content; and introduction of fuel-efficient variants of the best-selling aircraft programs including B737 Max and A20neo with a greater use of composites.

    Among all the factors, increasing production rates of key commercial aircraft programs are primarily driving the demand for aerospace prepregs. Both major commercial aircraft OEMs, Airbus and Boeing, are incessantly increasing the production of their best-selling aircraft in order to meet huge order backlogs of 13,528 commercial aircraft as of December 31, 2018. Irkut and COMAC, the newcomers in the commercial aerospace industry, also hold excellent order backlogs for their upcoming commercial aircraft programs, which is likely to further bolster the demand for prepreg in the coming years.

    Aerospace Prepreg Market Share Analysis

    Aerospace Prepreg Market Share by Platform Type

    The market is segmented based on the platform type as commercial aircraft, military aircraft, general aviation, spacecraft, UAVs, and regional aircraft. Commercial aircraft is expected to remain the largest and fastest-growing segment of the market during the forecast period. Increasing production rates of key programs, such as B787, and A350XWB supported by an incessant increase in the demand for fuel-efficient aircraft; market entry of new players, such as COMAC and Irkut; introduction of variants of existing best-selling aircraft programs, such as B737 max, A320neo, and B777X; and rising commercial aircraft fleet across regions are the key factors propelling the demand for prepregs in the commercial aircraft segment.

    Aerospace Prepreg Market Share by Resin Type

    Based on resin type, the market is segmented as epoxy, polyimide (PI), bismaleimide (BMI), polyphenylene sulfide (PPS), cyanate ester, polyether ether ketone (PEEK), polyetherimide (PEI), and others. Epoxy prepreg is expected to remain the most widely used resin system in the market during the forecast period. Epoxy resins bond well with reinforcement materials, such as carbon fiber and glass fiber. Further, they also offer excellent interlaminar strength and mechanical properties, good chemical resistance, and high electrical insulation, which make them a preferred resin system for a wide array of applications including fuselage, wings, control surfaces, as well as interior applications.

    Aerospace Prepreg Market Share by Curing Type

    Based on the curing type, the market is segmented as autoclave, out of the autoclave, and others. Autoclave is expected to remain the largest segment of the market during the forecast period. Autoclave curing have decades of excellent track record in the aerospace composites market and is projected to remain one of the most vital curing systems in the aerospace industry. Autoclave curing leads to an excellent surface finish with low void content as well as high pressure ensures good mechanical properties, which make it the most preferred curing process.

    Regional Insights

    In terms of regions, North America is expected to remain the largest market for aerospace prepreg 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 major prepreg manufacturers have their presence in the region to address the emergent needs of the OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.

    Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus in China for B737, A320 and A330 aircraft programs; upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ); rising aircraft fleet size and increasing military spending by countries such as China and India.

    Key Players

    The supply chain of this market comprises raw material suppliers, prepreg suppliers, tier players, aircraft OEMs, airline companies, aircraft leasing companies, and MRO companies. The key players in the aerospace prepreg market are Hexcel Corporation, Cytec Solvay Group, Toray Industries, Teijin Group, and Gurit Holdings, AG. Execution of mergers & acquisitions, development of new applications, advancements in prepregs are the key strategies adopted by the major players to gain a competitive edge in the market.

    Aerospace Prepreg Market Forecast

    Research Methodology

    For calculating the market size, our analysts follow either 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 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 multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, 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.

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2013-2024

    Size in 2024

    US$ 4.9 billion

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries/Subregions Covered

    The USA, Canada, Mexico, Germany, France, the UK, Spain, Russia, Japan, China, India, Latin America, the Middle East and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The market is segmented in the following ways:

    Aerospace Prepreg Market Size, Share & Forecast by Plateform Type:

    • Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Spacecraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • UAV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Prepreg Market Size, Share & Forecast by Fiber Type:

    • Carbon Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Glass Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aramid Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

     Aerospace Prepreg Market Size, Share & Forecast by Resin Type:

    • Epoxy Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Polyimide Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • BMI Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • PPS Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Cyanate Ester Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • PEEK Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • PEI Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Other Prepregs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

     Aerospace Prepreg Market Size, Share & Forecast by Form Type:

    • Unidirectional Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Fabric Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

     Aerospace Prepreg Market Size, Share & Forecast by Curing Type:

    • Autoclave (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Out of Autoclave (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

     Aerospace Prepreg Market Size, Share & Forecast by Region:

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Spain, Russia, 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)

     

    Report Features

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace prepreg market realities and future market possibilities for the forecast period of 2019 to 2024. 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 in order to expedite their growth process.

    The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

     


    Frequently Asked Questions (FAQs)

    What will be the size of the Aerospace Prepreg Market in the foreseeable years?

    Driven by a number of factors like incessant increase in the penetration of composites in the upcoming aircraft programs, the aerospace prepreg market is projected to reach an estimated value of US$ 4.9 billion in 2024.

    Who are the key players in the Aerospace Prepreg Market?

    Hexcel Corporation, Cytec Solvay Group, Toray Industries, Teijin Group, and Gurit Holdings, AG. are among the key players in the aerospace prepreg market.

    Which country/region is expected to witness the highest growth in the Aerospace Prepreg Makret?

    Asia Pacific is expected to witness the highest growth in the aerospace prepreg market during the forecast period of 2019-2024.

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