The China prepreg market is predicted to project a CAGR of 9.64% in terms of volume and 11.55% in terms of revenue during the forecast period, 2021-2026. The flourishing automotive manufacturing industry is a key growth driver.
The rapid growth of the Chinese automotive manufacturing industry is accredited to the rising automobile production over sales. Also, the production of passenger cars was the highest in 2017, followed by light commercial vehicles and heavy commercial vehicles. Also, the automobile development plan of 2018 entails consolidating China’s position as the leading automotive manufacturing hub over the next decade.
Additionally, the production of high-value motor vehicles and electric vehicles is increasingly prioritized. Besides, the surging vehicle sales are evaluated to threaten the environment due to increased emissions. Moreover, vehicle emissions are a major source of air pollution in China. Therefore, the government has put strict regulations in place to minimize carbon emissions. This will increase the need for cure and composite materials, thereby raising the demand for prepregs in China. Also, the growing wind power generation capacity and electricity generation benefit market growth.
Some of the eminent companies in the market include Mitsubishi Rayon Co Ltd, Teijin Limited, Toray Industries, Ventec International Group Ltd, Guang Wei Composites, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments