Tow Prepreg Market Size To Surpass USD 1.03 Billion By 2027

Tow Prepreg Market: An Overview

According to the current analysis of Reports and Data, the global Tow Prepreg Market was valued at USD 404.25 million in 2019 and is expected to reach USD 1.03 billion by the year 2027, at a CAGR of 15.5%. It is conventionally produced by an impregnation method wherein a resin is diluted with a solvent, a reinforcement fiber is produced with the resin, and the organic solvent is volatilized, leaving a resin-impregnated fiber.

The prepreg tow can be used in a variety of manufacturing processes, ranging from fibre positioning to filament winding and other moulding techniques, while the unidirectional tape can be used as a composite base for the construction of three-dimensional structures, including tubular structures or other complex structural geometries. This production method is also suitable for other non-interwoven fibre layers, such as parallel, large area fibre composite structure.

Have Queries? To request a sample or speak to an expert before you buy the report, click on the link below: @ https://www.reportsanddata.com/sample-enquiry-form/2100

Tow Prepreg Market Dynamics

Tow prepreg is essential for the production of primary and secondary structural components for the aerospace, defence and automotive industries. It is the preferred choice of material due to its excellent properties, including high strength, light weight, less curing time, consistency and better cosmetics. The high tensile strength of the prepreg tow makes it ideal for application in hydrogen fuel cells and high-pressure 4 cylinders for the aerospace, defence and automotive industries.

Tow Prepreg Market

Tow Prepreg is commonly used in aerospace & defence, industrial, automobile, sports goods, and so on. Automotive is the fastest-growing end-use industry for the tow prepreg market. This is due to the rising demand for light and strong materials such as tow prepreg from the European and North American regions. Strict environmental regulations in these regions have made it mandatory for OEM producers to use lightweight materials in cars to minimise fuel consumption.

Tow Prepreg Market: Regional Outlook

The North American region has a dominant market position and will continue to be the largest tow prepreg consumer. The market is expected to register a CAGR of 12.9 per cent over the forecast period. This spread stems from the large aerospace & defence industry, high defence investment and high disposable income in the region. The presence of leading prepreg manufacturers and steady economic progress in the region are key drivers for the growth of market for prepreg tows. Prominent commercial and defense aircraft manufacturers such as Boeing, Airbus, and Lockheed Martin also have large manufacturing units in North America which create a high demand for tow prepreg.

The use of lightweight materials has also increased in the Asia-Pacific region, particularly Japan, China and South Korea. For example, Kangde Group (China) has set up a smart manufacturing facility for carbon fibre car body and components that is estimated to produce 6 million parts per year. This will stimulate the consumption of prepreg tows in the Chinese automotive industry. APAC is expected to be the fastest-growing market with a CAGR of 13.5 per cent over the forecast period. This is due to the increasing penetration of composite materials, such as tow prepregs in a number of end-use industries. Electric vehicles also offer a considerable opportunity for the tow prepreg market. For example, BMW 7 and BMW i3 electric cars use prepreg carbon fibre tows. In order to meet the target set by European countries, various manufacturers of electric cars in Europe will adopt lightweight materials in their vehicles. The prepreg market for Europe tow is expected to register a CAGR of 11.6% over the forecast period.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/tow-prepreg-market

Tow Prepreg Market: Key Players

TCR Composites
Mitsubishi Chemical Corporation
SGL Group
Hexcel Corporation
Toray Industries, Toyobo Co. Ltd.
JXTG Nippon Oil & Energy
Fibrtec
North Thin Ply Technology
HyPerComp Engineering
Impact of COVID-19 on Tow Prepreg Market

The two prepreg market will witness effects of COVID-19 pandemic as the disruptions caused by the disease will be reflected on end user industries which will in turn decide the growth prospects for the market. In commercial aviation, companies are experiencing disruption in production and slowing demand as workers go home, passengers stop traveling, and customers defer delivery of new aircraft. Demand for spare parts is also low at present since little maintenance is currently needed. Aircraft manufacturing is capital intensive, thus causing short-term concerns about cash flow. The COVID-19 pandemic has also impacted the globally integrated automotive industry. Disruption in Chinese parts exports, large scale manufacturing disruptions across Europe, and the halting of assembly plants in the US have been side effects of the pandemic. This is placing intense pressure on the industry already coping with a downgrade in global demand, and expected to lead to mergers & acquisition activities.

Customisation available as per your requirement: @ https://www.reportsanddata.com/report-detail/tow-prepreg-market

Report Highlights:

Detailed overview of the market
Evolving tow prepreg market dynamics
In-depth tow prepreg market classification
Historical, present, and anticipated tow prepreg market size and share in terms of volume and value
Recent tow prepreg market trends and advances
Competitive landscape
Strategies adopted by key players and products portfolio
Segments, sub-segments, and geographic regions exhibiting growth prospects
A neutral and global perspective on tow prepreg market performance
Tow Prepreg Market: Segmentation

For this report, Reports and Data has segmented the tow prepreg market based on fiber type, end-use industry, and region.

Fiber Type (Revenue in USD Thousand; Volume in Tons, 2017–2027)

Carbon Fiber
Glass Fiber
S-Glass Fiber
E-Glass Fiber
Aramid Fiber
End-Use Industry (Revenue in USD Thousand; Volume in Tons, 2017–2027)

Aerospace & Defense
Automotive
Marine
Industrial
Sporting Goods
Infrastructure
Others
Regional Outlook (Revenue in USD Thousand; Volume in Tons, 2017–2027)

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.