GITNUX MARKETDATA REPORT 2024

Prepreg Industry Statistics

Prepreg industry statistics provide insights into the global market size, growth trends, key players, and future projections of the prepreg materials used in various industries such as aerospace, automotive, wind energy, and sporting goods.

Highlights: Prepreg Industry Statistics

  • The global Prepreg market size was estimated at USD 8.2 billion in 2019.
  • The global market for Prepreg is projected to reach USD 11.5 billion by 2024.
  • The aerospace and defense industry accounted for the largest share of the Prepreg market in 2018.
  • The carbon fiber Prepreg type holds the largest share in the Prepreg market.
  • The use of Prepreg is growing at a CAGR of 10.0% during the forecast period 2018-2025.
  • The transport application is to grow at the highest CAGR in the Prepreg market during the forecast period.
  • Europe is projected to be the second-largest market for Prepreg during the forecast period.
  • The Asian Prepreg market is estimated to grow at the highest CAGR from 2019 to 2024.
  • The glass fiber Prepreg is less expensive as compared to carbon fiber Prepreg.
  • The Prepreg market in the wind energy industry is projected to grow at a high CAGR of 8.8% between 2018 and 2025.
  • North America accounted for approximately 40% of the global Prepreg market consumption in 2018.
  • The market for Prepreg in sports and leisure is projected to witness a CAGR of 11% during the forecast period.
  • The Prepreg market size in terms of volume was around 181.2 kilotons in 2019.
  • The automotive sector is the fastest-growing end-use industry segment for Prepregs.
  • The thermoplastic Prepreg is expected to witness high growth rate due to its superior characteristics over thermoset Prepreg.
  • The Prepreg market is primarily driven by high demand from the aerospace & defense sector.
  • The Prepreg market in Middle East and Africa is expected to grow at a modest rate due to the lack of technological advancements.
  • The Prepreg market in South America is expected to grow at a CAGR of 7.8% during the forecast period.

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The Latest Prepreg Industry Statistics Explained

The global Prepreg market size was estimated at USD 8.2 billion in 2019.

The statistic “The global Prepreg market size was estimated at USD 8.2 billion in 2019” indicates the approximate total value of the global Prepreg market in terms of U.S. dollars as of the year 2019. Prepreg refers to a type of material commonly used in industries such as aerospace, automotive, electronics, and others, where reinforcing fibers are pre-impregnated with a resin matrix. This market size estimation serves as a key indicator of the economic scale and significance of the Prepreg industry on a global level, providing valuable insights for businesses, investors, policymakers, and other stakeholders interested in this sector. Additionally, this statistic can be used to analyze market trends, track industry growth, and make informed decisions regarding investments, product development, and strategic planning within the Prepreg market.

The global market for Prepreg is projected to reach USD 11.5 billion by 2024.

The statistic implies that the global market for Prepreg, which refers to a material combining resin and reinforcement fibers that can be pre-impregnated before being used in manufacturing processes like composites, is expected to grow significantly and reach a value of USD 11.5 billion by the year 2024. This projection suggests a growing demand for Prepreg in various industries such as aerospace, automotive, electronics, and construction, indicating a trend towards increased use of advanced materials in manufacturing applications. The anticipated market growth may be driven by factors like technological advancements, performance benefits offered by Prepreg over traditional materials, and a shift towards lightweight and high-performance products in different sectors.

The aerospace and defense industry accounted for the largest share of the Prepreg market in 2018.

The statistic indicates that in 2018, the aerospace and defense industry had the highest market share within the Prepreg market, which is a type of composite material used in various industries for its high strength and lightweight properties. This suggests that the aerospace and defense sector was the leading consumer and driver of demand for prepreg materials during that year. This information is valuable for market analysts, investors, and businesses operating within the prepreg industry as it highlights the prominence and significance of the aerospace and defense sector as a key player in driving market trends and growth within this specific segment. It could also imply potential opportunities for companies to target and serve the aerospace and defense industry with specialized prepreg products and solutions.

The carbon fiber Prepreg type holds the largest share in the Prepreg market.

The statistic that the carbon fiber Prepreg type holds the largest share in the Prepreg market indicates that carbon fiber Prepreg materials, which are composite materials consisting of carbon fibers that are pre-impregnated with a resin matrix, are the most widely used and preferred type of Prepreg in the market. This suggests that there is a strong demand for carbon fiber Prepreg due to its desirable properties such as high strength-to-weight ratio, stiffness, and corrosion resistance, making it a popular choice in industries such as aerospace, automotive, and sporting goods. The dominance of carbon fiber Prepreg in the market highlights its competitive advantage over other types of Prepreg materials and its significance in various applications requiring lightweight, high-performance materials.

The use of Prepreg is growing at a CAGR of 10.0% during the forecast period 2018-2025.

This statistic indicates that the utilization of Prepreg, a type of composite material formed by combining reinforcing fibers with a resin matrix, is experiencing a steady increase with a compound annual growth rate (CAGR) of 10.0% during the forecast period spanning from 2018 to 2025. The CAGR reflects the consistent growth rate over this period and suggests that the demand for Prepreg is steadily rising, likely driven by factors such as increasing applications in industries like aerospace, automotive, and sporting goods. This growth trend implies a positive outlook for the Prepreg market, indicating a growing preference for this advanced material in various sectors over the specified timeframe.

The transport application is to grow at the highest CAGR in the Prepreg market during the forecast period.

This statistic highlights the growth trend expected in the transport application segment within the prepreg market over the forecast period. The Compound Annual Growth Rate (CAGR) indicates the average annual growth rate of the market, and a higher CAGR in the transport application signifies a rapid expansion in this particular sector. This suggests increased adoption and demand for prepreg materials in the transport industry, such as automotive, aerospace, and marine sectors. Factors driving this growth could include the lightweight and high-performance properties of prepreg materials, leading to their use in fuel-efficient vehicles, aircraft components, and marine vessels. Overall, the statistic points towards a promising outlook for the transport application segment within the prepreg market.

Europe is projected to be the second-largest market for Prepreg during the forecast period.

This statistic indicates that Europe is expected to rank as the second-largest market for Prepreg products during the specified forecast period. Prepreg is a type of composite material made of resin and reinforcement fibers that are pre-impregnated before being cured. The projection suggests that Europe will experience significant demand for Prepreg products, likely due to various factors such as industrial growth, technological advancements, and increasing applications in sectors like aerospace, automotive, and wind energy. This forecast highlights the importance of the European market in the global Prepreg industry and signals potential opportunities for manufacturers, suppliers, and stakeholders in this region.

The Asian Prepreg market is estimated to grow at the highest CAGR from 2019 to 2024.

This statistic indicates that the Asian Prepreg market is projected to experience the highest Compound Annual Growth Rate (CAGR) between the years 2019 and 2024 compared to other regions. A high CAGR suggests a strong and consistent growth trend over the forecast period, which could be driven by factors such as increasing demand for prepreg materials in industries like aerospace, automotive, and wind energy in Asia, as well as advancements in technology and manufacturing processes. This projection reflects the growing significance of the Asian region in the global prepreg market and highlights potential opportunities for businesses operating in this sector to capitalize on the expanding market landscape.

The glass fiber Prepreg is less expensive as compared to carbon fiber Prepreg.

The statement “The glass fiber Prepreg is less expensive as compared to carbon fiber Prepreg” indicates a cost difference between two types of prepreg materials used in manufacturing processes. Prepreg materials are fibers that have been pre-impregnated with a resin matrix, commonly used in aerospace, automotive, and sporting equipment industries. Glass fiber is typically considered a more cost-effective option than carbon fiber due to differences in raw material costs and manufacturing processes. While both materials offer distinct advantages in terms of strength, stiffness, and weight, choosing glass fiber over carbon fiber can lead to cost savings without compromising on performance, making it a preferred choice in applications where cost is a significant factor.

The Prepreg market in the wind energy industry is projected to grow at a high CAGR of 8.8% between 2018 and 2025.

The statistic indicates that the Prepreg market within the wind energy industry is forecasted to experience a robust growth rate with a compound annual growth rate (CAGR) of 8.8% over the period from 2018 to 2025. This suggests that there is expected to be significant expansion and increasing demand for Prepreg materials in wind energy applications during this timeframe. Such a high CAGR implies a strong potential for market opportunities, indicating sustained growth prospects and a positive outlook for the industry. This growth could be driven by factors such as the increasing adoption of wind energy for renewable power generation, advancements in Prepreg technology, and a growing emphasis on sustainability and reducing carbon emissions in the energy sector.

North America accounted for approximately 40% of the global Prepreg market consumption in 2018.

The statistic states that North America represented about 40% of the total consumption of the Prepreg market worldwide in 2018. This indicates that a significant portion of the demand for Prepreg materials, which are composite materials used in various industries such as aerospace, automotive, and electronics, was attributed to North American consumers. The high consumption in North America suggests a strong market presence and demand for these advanced materials in the region, potentially driven by factors such as technological advancements, industry growth, and infrastructure development. Understanding regional consumption patterns is essential for market analysis, strategic planning, and decision-making for businesses operating within the Prepreg industry.

The market for Prepreg in sports and leisure is projected to witness a CAGR of 11% during the forecast period.

This statistic indicates that the market for Prepreg materials in the sports and leisure industry is expected to experience a Compound Annual Growth Rate (CAGR) of 11% over a specific period of time set in the forecast. This projection suggests a consistent annual growth rate for the market, emphasizing the anticipated expansion and increasing demand for Prepreg materials in applications related to sports and leisure activities. The CAGR metric provides a valuable insight into the expected overall growth trajectory of the market for Prepreg in this particular sector, highlighting promising opportunities for businesses operating within this industry to capitalize on the potential market expansion.

The Prepreg market size in terms of volume was around 181.2 kilotons in 2019.

This statistic indicates that the total volume of prepreg materials sold in 2019 was approximately 181.2 kilotons. Prepreg materials are composites that consist of a reinforcement material pre-impregnated with resin, which are widely used in industries such as aerospace, automotive, and construction for their high performance and lightweight properties. The volume of 181.2 kilotons reflects the extent of demand for prepreg materials in various sectors and provides insight into the scale of production and consumption within the market. Tracking changes in market volume over time can help analyze trends, identify growth opportunities, and assess the overall health of the prepreg industry.

The automotive sector is the fastest-growing end-use industry segment for Prepregs.

The statistic “The automotive sector is the fastest-growing end-use industry segment for Prepregs” indicates that the demand for Prepregs, which are composite materials typically used in high-performance applications, is increasing at a quicker rate in the automotive industry compared to other industries. This growth suggests that automotive manufacturers are increasingly adopting Prepregs in the production of vehicles to improve performance, reduce weight, enhance fuel efficiency, and meet stringent regulatory standards. The trend towards lightweight materials in the automotive sector, driven by the focus on sustainability and technological advancements, is driving the growth of Prepregs in this industry segment.

The thermoplastic Prepreg is expected to witness high growth rate due to its superior characteristics over thermoset Prepreg.

The statistic suggests that the thermoplastic Prepreg material is anticipated to experience rapid growth compared to its thermoset counterpart, primarily due to its superior qualities. Thermoplastic Prepreg offers advantages such as higher durability, faster processing times, easier recyclability, and superior impact resistance. These characteristics make it a preferred choice for various industries, leading to an increased demand for thermoplastic Prepreg products. As a result, the market for thermoplastic Prepreg is projected to grow at a higher rate than that of thermoset Prepreg in the foreseeable future.

The Prepreg market is primarily driven by high demand from the aerospace & defense sector.

The statement suggests that the Prepreg market, which refers to a type of composite material where fibers are pre-impregnated with a resin matrix, experiences significant growth and activity due to strong demand from the aerospace and defense industry. This indicates that companies involved in the production and supply of Prepreg materials are heavily influenced by the needs and requirements of aerospace and defense applications. These sectors typically have stringent performance standards, requiring materials that offer high strength-to-weight ratios, durability, and resistance to various environmental conditions. As a result, the demand from aerospace and defense serves as a key driver for the growth and profitability of the Prepreg market, motivating manufacturers to focus on innovation and quality to meet the specialized needs of these industries.

The Prepreg market in Middle East and Africa is expected to grow at a modest rate due to the lack of technological advancements.

The statistic suggests that the Prepreg market in Middle East and Africa is projected to experience a gradual increase at a modest rate in the foreseeable future. This growth is attributed to the perceived deficiency in technological advancements within the region, which may potentially limit the pace of expansion in the Prepreg industry. The implication is that without significant strides in technological innovation, the growth trajectory of the Prepreg market in the Middle East and Africa may be relatively moderate compared to regions with more advanced technologies. This statistic underscores the importance of technological development in driving market growth and competitiveness within the Prepreg sector in these regions.

The Prepreg market in South America is expected to grow at a CAGR of 7.8% during the forecast period.

This statistic indicates that the Prepreg market in South America is projected to experience a Compound Annual Growth Rate (CAGR) of 7.8% over a specified forecast period. A CAGR of 7.8% signifies that the market is anticipated to expand steadily at an average annual rate of 7.8% throughout the forecast period. This growth rate suggests increasing demand and adoption of Prepreg materials in various industries across South America, potentially driven by factors such as technological advancements, growing awareness of the benefits of Prepreg materials, and increasing industrial activities in the region. The forecasted growth highlights opportunities for market players in the Prepreg industry to capitalize on this upward trend and potentially achieve sustainable business growth in the South American market.

References

0. – https://www.www.grandviewresearch.com

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2. – https://www.www.transparencymarketresearch.com

3. – https://www.www.psmarketresearch.com

4. – https://www.www.mordorintelligence.com

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6. – https://www.www.linkedin.com

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How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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