During the COVID-19 epidemic, the global prepreg market is estimated at US$5.1 billion in 2020 and is expected to reach US$6.9 billion by 2026, with a CAGR of 5.6%; of which carbon fiber prepreg is expected to grow at a CAGR of 6.5% %, which will reach $4.5 billion by 2026. Glass fiber prepreg will grow at a CAGR of 4.1% in the future after an analysis of the business impact of the COVID-19 pandemic and the economic crisis it has caused.
As an intermediate material, prepreg is usually a material obtained by impregnating reinforcing fibers with resin, which can be processed into various shapes (such as plates, wires, tapes, and rods). These shapes, in turn, serve as the base material for specialized parts manufacturers, enabling the reinforcement fibers in prepregs, often in the form of unidirectional fibers or fabrics (such as multiaxial or woven), using resin systems that are primarily epoxy resins, Because it can provide a wide range of performance. However, in the automotive industry and aerospace applications, resins such as vinyl ester and polyester systems are also sometimes used.
Resin systems react very slowly at room temperature, and when the prepreg resin is heated to the specified curing temperature, its probability of complete curing increases. The precision of the equipment used to combine the fabric with the resin system ensures that laminates produced with prepreg contain higher fiber and more consistent content than materials obtained using wet layup techniques. In addition, this technology facilitates the use of high-viscosity, tough resin systems.
The U.S. prepreg market size is estimated to be approximately $1.3 billion in 2021. As the world’s second largest economy, China’s market size is expected to reach US$1 billion by 2026, with a CAGR of 8% during the forecast period. Among other notable regional markets, Japan and Canada are expected to grow at a CAGR of 4.3% and 4.9%, respectively, between 2020-2026; while in Europe, Germany is expected to grow at a CAGR of 4.1%.
Prepregs have superior properties such as high mechanical properties, high strength and fast curing, and can be used in a variety of applications in industries such as automotive, military and defense, electronics, sporting goods and wind energy. The demand from various industries, especially the automotive and aerospace industries, will strongly propel the growth of the global prepreg market. Market growth is driven by the implementation of stringent regulations to improve fuel efficiency and reduce carbon emissions from vehicles, especially in Europe and North America.
In addition to growing demand from the electronics and marine industries, these products may also benefit from the increasing use of lightweight materials in sports equipment. Rising advancements in electrical engineering and increasing popularity of circuit boards are likely to have a significant boost in the market. In addition, prepreg is expected to see increasing use in the wind energy industry to achieve lightweight and durable wind turbine blades; while space travel and orthopaedic technologies are fast becoming promising areas for prepreg, while racing The production of gears is expected to drive the overall consContinued efforts to develop advanced manufacturing and curing technologies are expected to positively impact the prepreg market.
Technological advances have also led to further improvements in material properties, shortening curing times and lowering the cost of prepreg materials. However, the growth of the prepreg market is hindered by the high cost of materials such as higher cost and lower shelf life compared to alternatives such as aluminum. Professional equipment is required to shape the material into a finished product.umption of these materials.
