According to a new composite materials industry report market report published by Lucintel, the
future of the global prepreg market looks strong with opportunities in the
aerospace, sporting goods, and industrial markets. The global prepreg market is
forecast to grow at a CAGR of 8.4% from 2015 to 2020. The major drivers of
growth for this market are greater penetration of prepreg materials in
applications, such as aerospace, defense, wind energy, and automotive, and escalated
demand for lightweight, environment-friendly, and efficient products. Advantages
of corrosion resistance, higher strength-to-weight ratio, lower maintenance,
and a longer lifecycle than other traditional materials, like aluminum and
steel, are additional factors contributing to the market growth. Growth of
further demand in key end-use industries, such as aerospace and wind energy, is
expected to remain a key driving factor for the global prepreg market.
The commercial aerospace segment is expected
to record the highest growth during the forecast period. Lucintel adds that the
aerospace market is predicted to remain robust due to strong back orders for
Boeing 787 and Airbus 380 aircraft. New products, including COMAC 919, are
expected to increase the production rate from eight per year to 200 per year by
2020.
Although
North America is the largest region in terms of value shipment, APAC is
expected to witness the highest growth during the forecast period (2015-2020).
Lucintel believes that Asia, particularly China, will continue to see
tremendous growth in wind energy over the next five years. As the industry
moves to supply offshore wind turbines that are larger, manufacturers will
continue to incorporate more carbon fiber reinforced prepreg into their
designs. This means that the underlying prepreg demand for wind turbine
applications should grow at a faster rate than wind generation capacity itself.
For market expansion, the report suggests
innovation and new product development. The report further suggests the
development of partnerships with customers to create win-win situations and
development of low-cost solutions for end users. Cytec, Hexcel, Gurit, Newport,
and Toray are among the major suppliers of prepreg. There are some companies
that are opting for M&A services as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting
and market research firm, has analyzed the global prepreg market by region
and market segment and has come up with a comprehensive composite materials market report , “Global
Prepreg Market 2015-2020: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a
springboard for the growth strategy, as it provides a comprehensive data and
analysis on trends, key drivers, and directions. The study includes forecast of
the global prepreg market through 2020, segmented by region and market segment as
follows:
Prepreg market by region-
·
North
America
·
Europe
·
Asia
and Rest of World
Prepreg market by market segment-
·
Aerospace
·
Industrial
·
Sporting
Goods
This 215-page research report on composites industry will enable you to make confident business
decisions in this globally competitive marketplace.
About Lucintel
Lucintel, the premier
global management consulting and market
research firm,
creates winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
