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Prepreg Laminates Market | Covid-19 Impact Analysis
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Stratview Research’s voyage towards publishing extremely niche market subjects containing disruptive growth potential continues. This time, we are launching another comprehensive report on the Prepreg Laminates market, a material that is successful in gaining traction in high-performance applications. The report studies the changing market dynamics, competitive landscapes, and market trends in the wake of the pandemic and examines the possible impact on the prepreg laminates market. The report also estimates the possible loss that the market participants have to endure due to the pandemic in the years to come.
Prepreg Laminates Market: Highlights
Prepreg laminates are thin sheets produced using fibers impregnated with either thermoset or thermoplastic resins. These sheets are alternatives to conventional metal sheets as well as other composites sheets, such as continuous laminates, sandwich-constructed panels, pultruded panels, and other composite sheets. Prepreg laminate accounts for a diminutive share of the total composite panels & sheets market and finds applications in various industries including aerospace & defense, building & construction, transportation, and others.
The Prepreg Laminates Market: The COVID-19 Impact
Prepreg laminate is a niche market and is registering an increased usage in high-performance applications. The prepreg laminates market holds a minuscule share of the entire composite panels & sheets market but could not escape themselves from the pandemic. The pandemic impeded the growth trajectory of both thermosets as well as thermoplastic prepreg laminates in all the major end-use industries.
Among the major markets, Aerospace proves to be the biggest victims of the pandemic, negatively impacting the entire supply chain including delays in B737 MAX approval and production curtails by OEMs in the wake of order cancellation by airlines and fading air passenger traffic. The pandemic is also affecting other major markets, such as building & construction and transportation. Delay in the start of construction activities and interruption in automotive production schedules further to worsen the market conditions.
The short-term scenario seems challenging for the market participants due to fading demand and production halts. Stratview Research’s forecast model, based on the past industry trends (the Great Recession, SARS, Industrial Recession, etc.) and primary interview results with the major market participants and industry experts, indicates that the demand for prepreg laminates is likely to be plateaued in 2020 and then register sequential growth till 2025, ultimately driving the market to reach US$ 130-million mark in 2025.
Prepreg Laminates Market Share Analysis
Aerospace & Defense is the Most Dominant End-Use Industry Type
Based on the end-use industry type, the prepreg laminates market is segmented as aerospace & defense, building & construction, transportation, and others. The aerospace & defense industry is likely to maintain its leading position in the market during the forecast period. Increasing use of reinforced thermoplastic laminates (RTLs) in the next-generation aircraft, especially in assembly components, such as clips and cleats and brackets; an expected recovery in the production of the best-selling aircraft programs; market entries of new companies (COMAC and Irkut); and increasing commercial aircraft fleet size would act as the growth drivers of the segment’s market in the foreseen future.
Thermoplastic Prepreg Laminates to Dominate the Market
Based on the resin type, the prepreg laminates market is segmented into thermoplastic prepreg laminates and thermoset prepreg laminates. Thermoplastic prepreg laminate is expected to maintain its lead in the market in years to come. Compared with thermoset prepreg composites, thermoplastics are less brittle and have a higher resistance to impact loading. Thermoplastic prepreg laminates are gaining market traction in c-class components, especially in assembly ones, in the latest aircraft programs including B787 and A350XWB. Despite witnessing a hefty decline in 2020 due to the COVID-19 pandemic, the thermoplastic prepreg laminates market is expected to mark a healthy recovery from 2022 onwards.
Carbon Fiber is the Dominant Fiber Type
Based on the fiber type, the market is segmented as glass fiber prepreg laminates and carbon fiber prepreg laminates. Both fiber types are anticipated to log huge declines in 2020; however, carbon fiber prepreg laminate is estimated to maintain its lead in the market in years to come. The fiber type is also anticipated to register speedier recovery than glass prepreg laminates post-pandemic. Carbon fiber prepreg is always considered the choice of material in the high-performance applications, owing to its superior strength and lighter in weight. In the aerospace & defense and transportation industries, which require high performance with weight optimization, carbon fiber prepregs are an excellent choice.
Europe to Maintain its Leading Position
Despite being the worst-hit region by the COVID-19 pandemic, Europe is expected to maintain its dominant position in the market in the coming five years as well. The region’s market is estimated to heal up gradually with Airbus being the largest customer of prepreg laminates in the region. Germany, France, and the UK are the major markets in the region. The supply chain of the region’s market is extremely persuasive with the presence of several industry stakeholders in the region.
Asia-Pacific, a relatively small market, is likely to heal up with the fastest pace in the post-pandemic market scenario. The region's demand will be driven by a host of factors including an expected increase in the demand for commercial aircraft to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus in China; upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi SpaceJet); and increasing penetration of composites in the building & construction industry. China, Japan, and Australia are projected to be the growth engines of the region’s market.
Some of the major prepreg laminate manufacturers are Bond-Laminates GmbH, ISOVOLTA AG, Norplex Micarta, PolyOne Corporation, Solvay S.A., and Toray Advanced Composites. Most of the major players have been efficacious in achieving distinct positioning in the market. Also, the market noticed a good number of acquisitions over a period of time to either gain capabilities or strengthen their existing capabilities.
This report offers high-quality insights and is 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. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. About 15 detailed primary interviews with the market players across the value chain in all major regions and industry experts have been executed to obtain both qualitative and quantitative insights.
This report provides market intelligence most comprehensively. 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 prepreg laminates market is segmented into the following categories.
Prepreg Laminates Market, By End-Use Industry Type
Prepreg Laminates Market, By Fiber Type
Prepreg Laminates Market, By Resin Type
Prepreg Laminates Market, By Region
Report Customization Options
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