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According to a new market report published by Lucintel, the future of the global prepreg market looks strong with opportunities in the aerospace, sporting goods, and industrial markets. The global prepreg market is forecast to grow at a CAGR of 8.4% from 2015 to 2020. The major drivers of growth for this market are greater penetration of prepreg materials in applications, such as aerospace, defense, wind energy, and automotive, and escalated demand for lightweight, environment-friendly, and efficient products. Advantages of corrosion resistance, higher strength-to-weight ratio, lower maintenance, and a longer lifecycle than other traditional materials, like aluminum and steel, are additional factors contributing to the market growth. Growth of further demand in key end-use industries, such as aerospace and wind energy, is expected to remain a key driving factor for the global prepreg market.
The commercial aerospace segment is expected to record the highest growth during the forecast period. Lucintel adds that the aerospace market is predicted to remain robust due to strong back orders for Boeing 787 and Airbus 380 aircraft. New products, including COMAC 919, are expected to increase the production rate from eight per year to 200 per year by 2020.
Although North America is the largest region in terms of value shipment, APAC is expected to witness the highest growth during the forecast period (2015-2020). Lucintel believes that Asia, particularly China, will continue to see tremendous growth in wind energy over the next five years. As the industry moves to supply offshore wind turbines that are larger, manufacturers will continue to incorporate more carbon fiber reinforced prepreg into their designs. This means that the underlying prepreg demand for wind turbine applications should grow at a faster rate than wind generation capacity itself.
For market expansion, the report suggests innovation and new product development. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for end users. Cytec, Hexcel, Gurit, Newport, and Toray are among the major suppliers of prepreg. There are some companies that are opting for M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global prepreg market by region and market segment and has come up with a comprehensive research report, “Global Prepreg Market 2015-2020: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for the growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes forecast of the global prepreg market through 2020, segmented by region and market segment as follows:
Prepreg market by region-
North America Europe Asia and Rest of World
Prepreg market by market segment-
Aerospace Industrial Sporting Goods
This unique report from Lucintel will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In today’s stringent economy, you need every advantage that you can find.
To make business, investment, and strategic decisions, you need timely, useful information. This market report fulfills this core need and is an indispensable reference guide for multinational materials suppliers, product manufacturers, investors, executives, distributors, and many more that operate in this market.
Some of the features of “Global Prepreg Market 2015-2020: Trends, Forecast, and Opportunity Analysis” include:
Porter’s Five Forces analysis for global prepreg market Global prepreg market intelligence with special emphasis on wind energy, aerospace, sporting goods, transportation and civil engineering markets (E&E market overview excluded) Market size estimates in terms of volume and value shipment by type of reinforcements Market size estimates in terms of volume and value shipment in various prepreg market segments Regional Analysis: Prepreg market breakdown by key regions (e.g., North America, Europe and Asia/ROW) Growth trend (2009-2014) and growth forecast (2015-2020): Volume and value of shipments for various market segments such as wind energy, commercial aerospace, defense, general aviation, space/satellite, marine, transportation, civil engineering and sporting goods Growth opportunities and emerging trends in global prepreg market
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