In the aerospace industry, prepregs are increasingly being used owing to their advantages such as weight reduction, ease of use, low void content, exceptionally low thermal expansion of coefficient, and control of laminate thickness. The aerospace industry uses epoxies for highly loaded parts and supreme toughness, BMI systems for high-temperature performance, phenolics for fire, smoke, and toxicity performance in aircraft interiors, and cyanate esters for space structures and satellite applications.
The North American prepreg market was valued at US$ 1.6 billion in 2022 and registered a healthy growth of >25% from its 2021 market value. North America accounts for a mammoth share of the global prepreg market in 2022. The composite industry stakeholders witnessed a sharp rise in carbon prepreg prices in the year 2022, mainly due to supply chain constraints and the Russo-Ukrainian war. Despite short-term demand fluctuations, the long-term market outlook seems favorable to the industry stakeholders. Key factors fueling the market’s growth are an expected rise in the production rate of key aircraft programs (B737 Max, B787, A320neo, and A350XWB), expected entry of programs (B777x), increasing installations of wind turbines with an increase in average blade length, increasing incorporation of advanced composites in automobiles, and excellent growth in boats.
Recent Product Developments:
- Low cycle time, cost-effectiveness, and high heat resistance are the indispensable focus areas of the leading players while product developments
- Solvay’s CYCOM® EP2750 is a cost-effective choice
- In 2018, Park Electrochemical Corp. introduced RadarWave: offering a cost-effective alternative to esoteric and higher-cost materials traditionally used for advanced radome systems
- In 2019, Teijin announced the development of Japan’s first carbon fiber sheet pre-impregnated with bismaleimide (BMI) matrix resin, offering a high glass transition temperature (Tg) of 280C and compression after impact (CAI) of 220MPa
- In Feb 2020, Solvay introduced CYCOM® EP2750, a high-rate compression molding prepreg for aerospace primary and secondary structures. Manufactures complex geometries with a 30-minute take time
Recent Market JVs and Acquisitions:
- In order to expand product portfolio and geographical reach, major players have acquired other players to gain a competitive advantage
- 2014: Toray acquired Saati SpA’s European carbon fiber fabric and prepreg business
- 2015: Solvay acquired Cytec
- 2017: Mitsubishi Chemical Carbon Fiber and Composites acquired the US-based SGL Carbon Fiber plant
- 2018: Toray acquired TenCate
- 2019: Teijin acquired Renegade and Kordsa acquired Axiom
- 2021: Toray Advanced Materials acquired the prepreg business from SK Chemicals
End-Use Industry Type
The North American prepreg market is segmented into aerospace & defense, wind energy, sporting goods, automotive, marine, civil engineering, and others. The aerospace & defense industry grabbed a major chunk of the market in 2022 and is expected to remain the growth engine of the market until 2028. Thermoset UD prepreg, especially epoxy UD prepreg, is used to fabricate primary structures, including fuselage and wings, of the next-generation aircraft, such as the B737 and A350XWB, whereas thermoplastic UD prepreg is found usage in small parts, such as clips, cleats, brackets, and profiles.
Resin Type
The market is segmented into thermoset prepreg and thermoplastic prepreg. Thermoset prepreg captured a higher share of the market in 2022, whereas thermoplastic prepreg is likely to mark a higher growth till 2028. Thermoset prepreg, especially carbon fiber-reinforced UD prepreg, is mostly found in the aerospace industry for a wide range of applications, including primary aerostructures.
Key applications other than the aerospace industry are car body panels and monocoque; golf shafts, fishing rods, and other sporting goods; wind turbine blades; and MRI/CT scan tables. Thermoplastics offer exceptional properties such as higher toughness, high chemical resistance, easier & quicker consolidation, quick cycle time, recyclability, and unlimited shelf life. PEEK, PEKK, PAEK, PEI, and PPS are among the most used high-performance thermoplastic resins.
Fiber Type
The market is segmented into carbon fiber prepreg, glass fiber prepreg, and aramid fiber prepreg. Carbon Fiber to remain the most attractive fiber type till 2028. It was the largest segment in 2022 and is anticipated to remain the fastest-growing segment, primarily driven by increasing demand from aerospace & defense, automotive, sporting goods, and wind energy.
Most of the major aerospace structural applications, fuselage, wings, spars, and control surfaces, are preferably manufactured using carbon fiber prepreg. Spar sections of longer wind turbine blades are also fabricated using carbon fiber prepreg. Similarly, golf shafts, hockey sticks, and fishing rods are also fabricated using carbon fiber prepreg.
Country Analysis
The USA is expected to remain the largest market for prepreg in North America during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators. Most of the prepreg suppliers have their presence in the region to address the emergent needs of OEMs.
The north American prepreg market is segmented into the following categories:
North American Prepreg Market, by End-Use Industry Type
- Aerospace & Defense
- Wind Energy
- Sporting Goods
- Automotive
- Civil Engineering
- Marine
- Others
North American Prepreg Market, by Resin Type
- Thermoset Prepreg
- Thermoplastic Prepreg
North American Prepreg Market, by Fiber Type
- Carbon Fiber Prepreg
- Glass Fiber Prepreg
- Aramid Fiber Prepreg
North American Prepreg Market, by Form Type
- Fabric Prepreg
- UD Prepreg
North American Prepreg Market, by Country
- The USA
- Canada
- Mexico
Key Players
The market is less populated with the presence of a handful number of players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the North American prepreg market:
- Hexcel Corporation
- Solvay S.A
- Toray Industries, Inc
- Celanese Corporation
- Gurit Holding AG
- Mitsubishi Chemical Carbon Fiber and Composites
- Park Electrochemical Corporation
- SABIC
- SGL Carbon SE
- Teijin Limited
Research Methodology
This strategic assessment report provides a comprehensive analysis that reflects today’s North American prepreg market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with the publisher's internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
The publisher conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors.
Table of Contents
Methodology
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