The Global
Thermoplastic Prepreg Market is likely to witness positive outlook during the
forecast time span. It is a composite reinforcement which is pre-impregnated
with thermoplastic resin. Different types of reinforcements materials such as
fiberglass, carbon fiber, aramid, etc., and resins such as polypropylene (PP),
polyethylene terephthalate (PET), polyethylene (PE), polyphenylene sulfide
(PPS), polyether ether ketone (PEEK), etc. are used during the composite
production process.
The product has
superior toughness, low flammability, good wear & abrasion resistance, low
coefficient of thermal cycling expansion, excellent environmental resistance,
low moisture absorption, etc. It is available in the form of unidirectional
tape, woven fabrics, stitched fabrics, etc. It is ideally used for lightweight
structural applications.
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The market will
be driven by rising demand from aerospace industry within the forecast time
span. Thermoplastic prepreg helps in production of complex aircraft parts and
promote rapid fabrication using automated processes while reducing cycle time.
It helps in significant reduction in overall weight of aircrafts thereby
reducing fuel consumption and increasing energy efficiency. Additionally,
reduction in carbon footprint is achieved along with improvements in flight
performance in terms of acceleration, safety and structural strength. Advent of
technology to manufacture aircrafts with reduced weights and improved fuel
efficiency will generate the demand for thermoplastic prepreg in upcoming
years. In addition, stringent government regulations related to fuel emissions
will support the market growth by 2025.
Another
significant factor driving the growth of thermoplastic prepreg market will be
rising demand from automotive industry. The product is used for manufacturing
various automotive components which will help in minimizing the overall weight
of the automobiles. Continuous research & development activities backed by
huge investments will revolutionize the automotive industry in future. Growing
concerns coupled with strict emission policies related to CO2 emissions will
compel automobile manufacturers to choose lightweight materials for automobile
production. This will catapult the thermoplastic prepreg demand in upcoming
years.
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The market will
be segmented on the basis of composite reinforcements, resin type and end-user
industry. Based on composite reinforcements, the market is segmented into
carbon fiber, fiberglass, aramid fiber and others. Based on resin type, the
market is divided into polypropylene (PP), polyamide (PA), polyethylene
terephthalate (PET), polyether ether ketone (PEEK), polyphenylene sulfide
(PPS), polycarbonate (PC), polyetherimide (PEI), and others. Based on end-user
industry, the market is bifurcated into aerospace, automotive and others.
Europe will
clutch significant market share in thermoplastic prepreg market in upcoming
years owing to flourishing aerospace industry. Various countries such as
France, United Kingdom, Germany and Russia are among the leading nations in
global aerospace industry. Rising air traffic, huge backlog of new aircraft
orders and technological progressions will facilitate the growth of regional
aerospace sector. Additionally, supportive government policies will boost the
aircraft manufacturing in future. In automobile sector, European Parliament and
the Council specified regulation (EU) 2019/631 to provide guidelines regarding
CO2 emission levels for new passenger cars and light commercial vehicles. As
per this regulation, European Union is aiming to reduce average CO2 emission
levels from new passenger cars and light commercial vehicles by 15% at the end
of 2025. Automobile manufacturers failing to comply with these regulations will
be charged with heavy fines.
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This will in
turn spur the market growth by 2025. North America will be another key region
in global thermoplastic prepreg market in near future. North America currently
accounts for half of the global aerospace industry. Innovation trends and high
production capacity will propel the North America aerospace industry in
upcoming years thereby bolstering the market growth.
Some of the key
players in the global thermoplastic prepreg market are Toray Industries Inc.,
SABIC, Web Industries, Inc., Teijin Limited, Maru Hachi Corporation, Hexcel
Corporation and C. Cramer & Co. (CCC).
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Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
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