Stratistics MRC’s Global Prepreg Market value is expected to reach $23.67 billion growing at a CAGR of 14.5% during 2023-2030.
Prepregs are composite materials made of high-strength reinforcement fibers that have already been pre-impregnated with either thermoset or thermoplastic resin. The fiber-to-resin ratio is precisely controlled during resin impregnation. It provides a number of advantages, including maximum strength properties, part uniformity and repeatability, less waste, and quicker curing. Prepregs are typically used in high-performance applications where cost is secondary to weight and mechanical performance in sectors like aerospace, sports, military, automotive, and wind energy.
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Due to the growing demand for prepreg in the aerospace and defense industries, the North American market is anticipated to experience the highest CAGR during the forecast period. Some of the top aerospace and defense firms, including Boeing and Lockheed Martin, are based in the area, increasing demand for lightweight materials like prepreg. Additionally, because prepreg is used in the production of wind turbine blades, rising demand for wind energy in the area is also anticipated to increase demand for it. Prepreg demand is anticipated to increase in this region due to the growing emphasis on renewable energy sources and rising investments in wind energy projects.
Some of the key players in Prepreg market include Composite Resources Inc., SGL Group, Henkel ltd, 3M, Ventec International Group , Teijin Limited, Axiom Materials, Inc., Toray Industries, Inc., Celanese Corporation, Isola Group, Park Eletrochemical Corp. , Aerospace Corp, Plastic Reinforcement Fabrics Ltd., Renegade Materials Corporation, Zoltek, Solvay Group, BASF SE, Sunrez Corporation, Borealis AG, Hexcel Corporation and Mitsubishi Chemical Holdings Corporation.
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Key Developments:
In July 2023, Toray Industries, Inc., announced today that it has developed a material that can bond micro-electronic components at temperatures more than 30°C lower than with existing technologies—less than half their levels and under low-pressure conditions.
In June 2023, 3M reached an agreement to pay a $10.3bn settlement with numerous US public water systems to resolve thousands of lawsuits over PFAS contamination.
In May 2022, Solvay Group introduced SolvaLite 714 Prepregs, an essential addition to its wide portfolio of composite materials for the automotive industry. This offering is the new generation of unidirectional carbon-fiber and woven-fabric products pre-impregnated with SolvaLite 714 epoxy resin.
In April 2022, Hitachi Power Solution introduced cutting-edge services like Blade Total Service. Due to stress from fusing drones and artificial intelligence technology, this blade’s full service reduces the risk of wind power outages.
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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