Global Prepreg Market Overview

The Global Prepreg Market is valued at approximately USD 10 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 10.80% over the forecast period 2022-2029. Prepreg is a fabric that has been reinforced and is pre-impregnated from a resin system.

Prepregs are applied in high-performance applications where the cost has less importance compared to mechanical properties and weight. The growth of the Prepreg Market is mainly driven by the automotive industry, with a shift towards carbon fiber composite materials. As per Statista, a total of 66.7 million units were sold in the automobile sector in 2021, increasing the demand for prepregs.

Another factor driving growth is the rising demand for prepreg in the aviation industry. Prepregs offer extraordinary properties such as a superior strength-to-weight ratio and high impact resistance, making them effective in producing composite parts for aircraft.

However, the high cost associated with prepregs, including manufacturing and processing, may restrict market growth. Consumer sensitivity to price, as found in a study by McKinsey & Company, is a significant factor affecting the growth of prepregs.

The growth in carbon fiber-reinforced plastic (CFRP) presents an opportunity for the prepreg market. CFRP is extensively used in construction, and as per Statista, the construction market is expected to reach 14.4 trillion in 2030 from 6.4 trillion in 2020.

Rising demand for lightweight vehicles is another opportunity for the prepregs market, allowing weight reduction in automobiles for increased fuel efficiency and reduced emissions. The production of lightweight vehicles is expected to reach 98.9 million units in 2025, creating demand for prepregs.

Key Regions in the Global Prepreg Market

The key regions considered for the Global Prepreg Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominates the market in terms of revenue, driven by increasing awareness of wind energy benefits, expansion of the aviation industry, and significant R&D investments.

Asia Pacific is expected to grow with the highest CAGR during the forecast period, driven by the extension of industries using prepregs in developing countries. India, for instance, is the third-largest domestic aviation market globally.

Major Market Players

  • Hexcel Corporation
  • Axiom Materials Inc.
  • Mitsubishi Chemical Corporation
  • Teijin Carbon Europe GmbH
  • Sunrez Corporation
  • Isola Group
  • SGL Carbon
  • Toray Composite Materials America Inc.
  • Evonik Industries AG
  • Celanese Corporation

Recent Developments

  • In September 2021, Notus Composites launched a new high-performance epoxy prepreg material.
  • In February 2023, Toray Industries Inc. developed a new prepreg material with extraordinary impact resistance for the automobile industry.

Global Prepreg Market Report Scope

Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Resin Type, Fiber Type, Manufacturing Process, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report incorporates both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also provides detailed information about crucial aspects such as driving factors & challenges defining the future growth of the market. It includes potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players.

Detailed Segments

  • By Resin Type: Thermoplastic, Thermoset
  • By Fiber Type: Aramid, Carbon, Glass
  • By Manufacturing Process: Solvent Dip, Hot Melt
  • By End User: Automotive, Aerospace and Defence, Sporting Goods, Wind Energy, Others
  • By Region: North America (U.S., Canada), Europe (UK, Germany, France, Spain, Italy, ROE), Asia Pacific (China, India, Japan, Australia, South Korea, RoAPAC), Latin America (Brazil, Mexico), Rest of the World