04-Oct-16 The rising demand for glass fiber prepreg from various applications in automotive, aerospace and defense, recent developments by the key players and low price as compared to carbon fiber are some of the key factors driving the global glass fiber prepreg market. According to the research report, the global glass fiber prepreg market was valued at US$1014 mln in 2014, and is projected to reach US$1453.67 mln by 2019, at a CAGR of 7.5% during the forecast period of 2014 to 2019. It is projected to reach a volume of 106.7 KT by 2019, at a CAGR of 6.81% during the forecast period, as per Micro Market Monitor.
The rising demand for glass fiber prepreg from various applications in automotive, aerospace and defense, recent developments by the key players and low price as compared to carbon fiber are some of the key factors driving the global glass fiber prepreg market. On the other hand, the irreparable damage of glass fiber prepreg and increasing costs of raw materials (resin and glass fiber) are expected to restrain the growth of the market Mergers & acquisitions, collaborations, joint ventures, and expansions are the major strategies adopted by the companies to achieve growth in the glass fiber prepreg market. North America dominates the global market for glass fiber prepreg, having accounted for a 37.6% share in 2014, followed by Europe. The Asia-Pacific region is expected to become a major market for the glass fiber prepreg with the highest growth rate of 9.9% during the forecast period.
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