involves in the production of prepreg materials which are used in high performance applications in the composite industry ans some other sectors also. Prepregs are composite materials, wherein a reinforcement fiber is pre-impregnated with a prepreg resin type of either thermoplastic or thermoset resin.
Prepreg material has unique properties since they are cured under high temperatures and pressures. Types of fiber reinforcement which are mostly used for prepreg are carbon fiber, fiberglass, aramid fiber. They are produced by two kinds of prepreg manufacturing processes namely hot melt process and solvent dip process. These are used in many applications including aerospace, defense, automobile, construction, sports, electronics and medical. Rising demand for lightweight, environment friendly and efficient products are the major growth factors for the Prepreg Market.
The increasing usage of prepregs in major applications like aerospace, defense, wind energy and automotive is the primary growth driver of the Prepreg market. Due to increasing demand for automotive interior, glass fiber segment is expected to register high growth rate. In addition, rapidly increasing demand in end-use applications and competitive manufacturing costs are driving the market growth. However, the competition from cheaper alternatives such as aluminum is anticipated to restrain the industry growth.
North America is currently dominating the Prepreg Market by holding the largest share. Asia-Pacific is anticipated to witness the highest growth during the forecast period and also expected to continue over the next seven years. Even though Middle East and Africa hold smallest share but expected to witness considerable growth in terms of economical land and labor rates in the region in the near future. In addition, emerging economies like Brazil and Mexico are expected to have high potential growth for prepregs due to rapid industrialization.
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