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Global Prepreg Market Share, Trends, Analysis, Outlook: By Fibre: Carbon, Glass, Aramid; By Resin: Thermoset, Thermoplastic; By Manufacturing Process: Hot-Melt, Solvent Dip; By Application: Aerospace and Defence, Automotive, Wind Energy, Sporting Goods, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Prepreg Market Outlook
The global prepreg market reached a value of nearly USD 12.43 billion in 2023. The market is further expected to grow at a CAGR of 10.4% in the forecast period of 2024-2032 to reach a value of about USD 22.55 billion by 2032.
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Healthy Growth of the Automotive Industry to Augment the Prepreg Industry Growth
Based on application, the automotive segment is expected to grow at a healthy pace over the forecast period. Carbon fibre prepregs are currently exclusively utilised in racing vehicles and select high-end sports cars in the automobile industry due to their exorbitant cost. However, because the average cost of carbon fibre prepreg is projected to fall in the coming years, it may be utilised in mass manufacturing of vehicles, resulting in an increased demand for the material. The United States’ Oak Ridge National Laboratory (ORNL) is working on developing low-cost carbon fibre (LCCF) technology, which is projected to aid the market growth within the automotive sector in the coming years.
Asia Pacific to Provide Enhanced Growth Opportunities to the Prepreg Industry
Region-wise, the Asia Pacific is expected to witness a robust growth over the forecast period and hold a significant share of the market by 2026 owing to the region’s rising demand for the product from the aerospace and defence and wind energy industries, along with building and infrastructure projects. The growing automotive and sporting goods production and increasing electronic manufacturing is projected to further catalyse the market growth. The significant presence of tyre producers in the region, along with increasing wind installation capabilities, are providing further growth opportunities for the market.
Prepreg: Market Segmentation
A composite material produced from "pre-impregnated" fibres and a partly cured polymer matrix, such as epoxy or phenolic resin, or even thermoplastic combined with liquid rubbers or resins, is known as prepreg.
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By fibre, the market is divided into:
- Carbon
- Glass
- Aramid
Based on resin, the industry can be segmented into:
- Thermoset
- Thermoplastic
The market is bifurcated by manufacturing process into:
- Hot-Melt
- Solvent Dip
On the basis of application, the industry can be classified into:
- Aerospace and Defence
- Automotive
- Wind Energy
- Sporting Goods
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand from Downstream Sectors to Bolster the Growth of the Prepreg Industry
The prepreg industry is expanding due to the increased demand for prepregs in a variety of applications globally. In addition, the cessation of the lockdowns that were put in place during the COVID-19 pandemic and the recovery in the end-use industries are boosting the demand for the product. The expansion of the wind energy industry is projected to provide further growth opportunities for the prepreg industry in the coming years. Prepregs are widely used in the production of complicated structural components for wind turbines.
In the forecast period, the rapidly growing applications of prepregs in the aerospace industry are expected to drive the demand growth in the market. Composites in the form of prepreg now account for more than half of the structural mass of big transport planes.
Key Industry Players in the Global Prepreg Market
The report gives a detailed analysis of the following key players in the global prepreg market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Hexcel Corporation
- Toray Industries, Inc.
- Axiom Materials, Inc.
- Teijin Limited
- Park Aerospace Corp.
- Mitsubishi Chemical Carbon Fiber and Composites, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Fibre, Resin, Manufacturing Process, Application, Region |
| Breakup by Fibre | Carbon, Glass, Aramid |
| Breakup by Resin | Thermoset, Thermoplastic |
| Breakup by Manufacturing Process | Hot-Melt, Solvent Dip |
| Breakup by Application | Aerospace and Defence, Automotive, Wind Energy, Sporting Goods, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Hexcel Corporation, Toray Industries, Inc., Axiom Materials, Inc., Teijin Limited, Park Aerospace Corp., Mitsubishi Chemical Carbon Fiber and Composites, Inc., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Prepreg Market Analysis
8.1 Key Industry Highlights
8.2 Global Prepreg Historical Market (2018-2023)
8.3 Global Prepreg Market Forecast (2024-2032)
8.4 Global Prepreg Market by Fibre
8.4.1 Carbon
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Glass
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Aramid
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Prepreg Market by Resin
8.5.1 Thermoset
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Thermoplastic
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Prepreg Market by Manufacturing Process
8.6.1 Hot-Melt
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Solvent Dip
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Prepreg Market by Application
8.7.1 Aerospace and Defence
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Automotive
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Wind Energy
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Sporting Goods
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Others
8.8 Global Prepreg Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Prepreg Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Prepreg Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Prepreg Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Prepreg Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Prepreg Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Hexcel Corporation
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Toray Industries, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Axiom Materials, Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Teijin Limited
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Park Aerospace Corp.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Mitsubishi Chemical Carbon Fiber and Composites, Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Prepreg Market: Key Industry Highlights, 2018 and 2032
2. Global Prepreg Historical Market: Breakup by Fiber (USD Billion), 2018-2023
3. Global Prepreg Market Forecast: Breakup by Fiber (USD Billion), 2024-2032
4. Global Prepreg Historical Market: Breakup by Resin (USD Billion), 2018-2023
5. Global Prepreg Market Forecast: Breakup by Resin (USD Billion), 2024-2032
6. Global Prepreg Historical Market: Breakup by Manufacturing Process (USD Billion), 2018-2023
7. Global Prepreg Market Forecast: Breakup by Manufacturing Process (USD Billion), 2024-2032
8. Global Prepreg Historical Market: Breakup by Application (USD Billion), 2018-2023
9. Global Prepreg Market Forecast: Breakup by Application (USD Billion), 2024-2032
10. Global Prepreg Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Prepreg Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Prepreg Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Prepreg Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Prepreg Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Prepreg Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Prepreg Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Prepreg Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Prepreg Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Prepreg Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Prepreg Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Prepreg Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Prepreg Market Structure
Key Questions Answered in the Report
In 2023, the global prepreg market attained a value of nearly USD 12.43 billion.
The market is projected to grow at a CAGR of 10.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 22.55 billion by 2032.
The major drivers of the industry, such as the growing demand from various application sectors, post-COVID recovery of downstream industries, and the thriving wind energy industry, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the growing applications of prepregs in the aerospace industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major fibres in the market are carbon, glass, and aramid.
The significant resins of prepreg in the industry are thermoset and thermoplastic.
The leading manufacturing processes involved in the market are divided into hot-melt and solvent dip.
The major application segments of the industry are aerospace and defence, automotive, wind energy, and sporting goods, among others.
The major players in the industry are Hexcel Corporation, Toray Industries Inc., Axiom Materials Inc., Teijin Limited, Park Aerospace Corp., and Mitsubishi Chemical Carbon Fiber and Composites Inc., among others.
Analyst Review
The global prepreg market attained a value of USD 12.43 billion in 2023, driven by the rising demand from various applications. Aided by the high demand from the wind energy industry, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 10.4%. The market is projected to reach USD 22.55 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on fibre, the market can be divided into carbon, glass, and aramid. By resin, the industry can be segmented into thermoset and thermoplastic. Based on manufacturing process, the market is divided into hot-melt and solvent dip. On the basis of application, the industry can be classified into aerospace and defence, automotive, wind energy, sporting goods, and others. The major regional markets for prepreg are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Hexcel Corporation, Toray Industries Inc., Axiom Materials Inc., Teijin Limited, Park Aerospace Corp., Mitsubishi Chemical Carbon Fiber and Composites Inc., and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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