Driven by aerospace & defense, Prepreg market growing at CAGR of over 10% until end of decade

13-Mar-15

The Prepreg Market is growing at a CAGR of more than 10.5% between 2015 and 2020 and is expected to reach US$6.9 bln by 2020, as per MarketsandMarkets. North America is currently the largest market for prepreg. U.S. is the largest consumer of prepreg in this region. Aerospace & defense, and automotive are the favorable market applications for Prepreg Market growth in this region. Aerospace & defense is currently the biggest segment of prepreg. North America is currently the largest market for aerospace industry. Environmental regulations for low CO2 emissions and fuel efficiency mandates in Europe and the U.S. dictate more fuel efficient vehicles. Composites are seen as a substitute for aluminum and steel in high-end cars that would help the automotive industry to meet the fuel efficiency standards. This ultimately fuels the prepreg demand in automotive application. Similarly, in case of aerospace application, increasing delivery numbers of aircrafts like Boeing-787, Airbus-350, etc. will drive this market in next 5 years. Cytec industries (U.S.), Hexcel Corporation (U.S.), Toray industries (Japan), Gurit holding (Switzerland), Royal Tencate NV (U.S.), Teijin Limited (Japan), SGL Group- The carbon company (Germany) are some of the major market players of prepreg in the world.