The global Prepreg (Pre-Impregnated Composite Fibers) Market is anticipated at USD 7.3 billion in 2022. Demand is likely to remain high for prepreg (pre-impregnated composite fibers) during the assessment period. this is due to the rising application across various end-use industries and garnering USD 23.4 billion in 2033, recording a CAGR of 11% from 2023 to 2033. The market is likely to secure USD 8.2 billion in 2023.
| Data Points | Kay Statistics |
|---|---|
| Prepreg (Pre-Impregnated Composite Fibers) Market Size Value in 2023 | USD 8.2 billion |
| Prepreg (Pre-Impregnated Composite Fibers) Market Forecast Value in 2033 | USD 23.4 billion |
| Global Growth Rate | 11% |
| Forecast Period | 2023 to 2033 |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
| Historical CAGR (2018 to 2022) | 13.5% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 11% |
From 2018 to 2022 the prepreg (pre-impregnated composite fibers) market expanded at a CAGR of 13.5%. Increasing demand for carbon fiber prepreg, and glass fiber prepreg in the end-use industries is driving the prepreg (pre-impregnated composite fibers) market growth during the forecast period. The increasing investment in the renewable energy sector is considerably contributing to the development of the carbon fiber prepreg market.
Prepregs are widely used in various end-use industries such as aerospace, automotive, wind energy, sports equipment, and others due to their high strength-to-weight ratio, excellent mechanical properties, and ease of use. They are typically used in applications where high performance and durability are required.
Increasing demand for high-quality materials from emerging economies for prepregs is expected to drive market growth over the coming years. Prepregs are also commonly used in the production of sports equipment, such as tennis rackets, golf clubs, and hockey sticks. The prepreg (pre-impregnated composite fibers market is projected to show a noteworthy growth of USD 23.4 billion by the end of the forecast period of 2033.
Principal Consultant
The Rapid Growth of the Automotive Industry Provides an Opportunity For Market Growth
Prepreg is highly adopted in the automotive industry owing to the increased focus of companies on incorporating durable and light materials to make lightweight vehicles and push fuel efficiency. Prepregs are widely used in the automotive industry for various applications due to their high strength-to-weight ratio, excellent mechanical properties, and ability to be easily molded into complex shapes.
Carbon fiber prepregs are mostly used in racing vehicles and high-end sports cars in the automobile industry. With high strength and durability, prepregs can be molded into complex shapes to create unique designs and textures. Prepregs can be used to produce interior components such as door panels, dashboards, and center consoles.
The Increasing Demand from The Aerospace Industry Globally Drives the Market Growth
Prepregs are majorly used in the aerospace industry due to their high strength-to-weight ratio and excellent mechanical properties. Increasing demand for more fuel-efficient and lightweight aircraft, is expected to increase, the demand for prepregs.
Continuing advances in aerospace engineering and increasing popularity of prepregs in the manufacturing of aircraft structures, including wings, fuselages, and tail sections. Carbon fiber prepregs are also used in the aerospace industry due to their high strength and stiffness, as well as their ability to withstand high temperatures and stress.
Prepregs can be molded into complex shapes to meet specific design requirements and thus are used in cabin panels, galley components, and lavatories.
The leading players in the market are developing prepregs for lightweight components for the aerospace industry. For instance, in 2021, Arisawa Mfg Co Ltd announced the development of a new line of lightweight carbon fiber prepregs that offer improved strength and stiffness compared to conventional materials for use in aerospace and other high-performance applications where weight reduction is critical.
High Manufacturing Cost May Impede the Growth of the Market
High manufacturing and processing costs may act as a restraint to the growth of the market during the forecast period. Also, the recycling of prepregs is expensive this is another factor hampering the growth of the prepreg market during the forecast period. The limited supply of raw materials used to produce prepregs, such as carbon fiber and epoxy resin, could constrain the growth of the prepreg market.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Presence of a well-developed aerospace industry to Boost the Growth of the prepreg (pre-impregnated composite fibers) in the United States
The global market is expected to be dominated by North America. The market is anticipated to expand at a CAGR of 10.9% and is expected to accumulate a market value of USD 4.2 billion over the forecast period.
The increasing demand from well-developed aerospace and defense and automotive industries. Increasing application of prepreg in the production of combat, commercial & transport aircraft is propelling the growth of the prepreg (pre-impregnated composite fibers) market. The market is expected to continue growing owing to technological advancement and increasing demand for lightweight & sustainable materials.
Technological Advances in the Automotive Sector to Boost the Growth of the Market in the United Kingdom
The Prepreg (pre-impregnated composite fibers) sales in the United Kingdom are expected to keep rising with a CAGR of 10.6% and are expected to gain a market value of USD 917.4 million by the end of the forecast period.
The steady growth in the automobile sector in the region is the major driving factor. The strong demand from the end-use sector and increased government focus on sustainability and carbon reduction are expected to drive the prepreg market in the United Kingdom.
Increasing Demand from Different Industry Verticals to Drive the Growth of the Market in China
China’s quantum cascade lasers market is expected to rise at 11.0%CAGR between 2023 to 2033. The market is expected to gain a market value of USD 5.4 billion by the end of the forecast period.
Increasing demand from the aerospace, defense, and wind industry and increased electronic manufacturing are driving the Prepreg (pre-impregnated composite fibers) market growth. Increasing investment in the automotive sector is expected to boost the market growth in the region.
Carbon Fiber Prepreg Segment Generated High Revenue
Based on fiber type, the Prepreg (Pre-Impregnated Composite Fibers) market is segmented into carbon fiber prepreg, glass fiber prepreg, and aramid fiber prepreg segments. The carbon fiber prepreg segment is expected to dominate the market in the forecast period. The segment is projected to exhibit a CAGR of 10.8% during the forecast period.
Carbon fiber prepreg has a high strength-to-weight ratio, excellent mechanical properties, and high stiffness. They are also highly resistant to fatigue, corrosion, and temperature extremes, making them ideal for use in high-performance applications. Carbon fiber prepregs are highly used in a variety of industries, including aerospace, automotive, wind energy, and sports equipment. Owing to this application the segment is expected to grow in the near future.
Thermoset Segment to Gain Significant Traction During the Forecast Period
Based on resin type, the market is segmented into the thermoset & thermoplastics segments. Among all these thermoset segments remains the rasin type category is expected to expand with a CAGR of 10.7% throughout the forecast period.
Thermosets are widely used in aerospace, automotive, and electronics industries because of their high strength, stiffness, high heat resistance. On the other hand thermoplastics segment is expected to account for a significant share of the market during the forecast period.
New players in the Prepreg (pre-impregnated composite fibers) market are among others, which are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. For instance
Prominent players in the Prepreg (Pre-Impregnated Composite Fibers) market are 3M Company; Arkema Group; Advanced International Multitech Co., Ltd.; Arisawa Mfg. Co., Ltd.; 5M Sro among others.
The key players in the prepreg (pre-impregnated composite fibers) market are focusing on improved productivity and quality of their products to gain more customer base. Key players are working on research & development activities for the effective composition of the material that is to be used for manufacturing.
Other expansion strategies of key players include extensive research & development activities, collaborations, and mergers & acquisitions. Some notable developments are as follows:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 11% from 2023 to2033 |
| Market Value in 2023 | USD 8.2 billion |
| Market Value in 2033 | USD 23.4 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Fiber Type, Rasin Type, Application, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | 3M Company;; Arkema Group;; Advanced International Multitech Co., Ltd.;; Arisawa Mfg. Co., Ltd.;; 5M Sro |
As of 2023, the market for prepreg (pre-impregnated composite fibers) market is expected to be valued at USD 8.2 billion, as per FMI
By 2033, the market value of the prepreg (pre-impregnated composite fibers) market is expected to reach USD 23.4 billion
From 2023 to 2033, prepreg (pre-impregnated composite fibers) sales are expected to flourish at a CAGR of 11%
Based on fiber type, the carbon fiber prepreg segment is expected to account for a CAGR of 10.8 % during the forecast period.
Based on the resin type, the thermoset segment dominates the market with a CAGR of 10.7% during the forecast period.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Fiber 5.1. Carbon Fiber Prepreg 5.2. Glass Fiber Prepreg 5.3. Aramid Fiber Prepreg 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Resin 6.1. Thermoset 6.2. Thermoplastic 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Aerospace & Defense 7.2. Automotive 7.3. Wind Energy 7.4. Sporting Goods 7.5. Electronics 7.6. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. 3M Company 16.2. Arkema Group 16.3. Advanced International Multitech Co., Ltd 16.4. Arisawa Mfg. Co., Ltd. 16.5. 5M Sro 16.6. ACP Composites, Inc. 16.7. Advanced Materials Technology (Pty) Ltd 16.8. Airtech International, Inc 16.9. Allred & Associates, Inc. 16.10. Dragonplate; APCM LLC 17. Assumptions & Acronyms Used 18. Research Methodology
Industrial Automation
May 2023
REP-GB-7040
333 pages
Explore Chemicals & Materials Insights
View Reports
Prepreg (Pre-Impregnated Composite Fibers) Market
