The global Prepreg market is projected to reach 155 thousand metric tons by 2018, driven by increasing use in end-use markets such as aerospace, automotive, wind energy, defense and marine.
Prepregs are rapidly gaining prominence as the preferred material in a wide range of commercial applications driven primarily by the rising demand for materials with high performance and lightweight characteristics from sectors such as sporting goods, industrial equipment, and aircraft components. Though the market posted strong growth in the pre-recession period led by the expanding composite manufacturing operations in Asia, and booming wind energy and aerospace sectors in Europe and North America, the growth came to a halt in 2009 due to the global economic downturn. However, the market recovered swiftly in 2010 led by the slow yet steady resurgence in most end-use markets. While developed regions continue to make steady progress, future growth would be attributed to the rising opportunities in developing nations.
Future growth in the market would be led by the increasing demand for high-performance materials in newer applications such as tidal turbine blades. The rising attractiveness of prepregs is also attributed to the technological advances in the production process, which aid in lowering curing temperatures of prepregs and extending the shelf life. Growth potential is high for prepregs that exhibit longer shelf life without the need for refrigeration, as well those that can be cured at room temperature or use only heat lamps.
The United States represents the single largest market globally. The market is expected to continue progressing at a robust pace led by the emerging demand from aerospace, military & defense and commercial sectors. Asia-Pacific represents the fastest growing regional market for prepregs across the globe, with India and China offering huge prospects due to rising adoption of prepregs in a wide range of applications.
For more information on the prepreg market, see the latest research: Prepreg Market Research
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.