Non-Woven Prepreg Market to experience an impressive growth of 9.2% during 2016-2021
February 10, 2020
Non-Woven Prepreg Market offers healthy growth opportunity and is likely to grow at 9.2% CAGR during the forecast period of 2016 to 2021. Increasing installations of large MW wind turbines, increasing use of composites in aerospace & defense and automotive industries, and recovering boat sales are some of the major growth drivers of the non-woven Prepreg market.
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Non-Woven Prepreg Market Segment Insights:
By Industry Type:
Wind energy market is expected to remain the largest consumer of non-woven prepreg during the forecast period, driven by increasing wind energy installations worldwide. Increasing wind blade length needs a material which has high load bearing properties. Non-woven prepreg based blades provide higher load bearing capacity than woven prepreg based blades and are highly suitable for longer wind blades. Glass fiber based non-woven prepreg are mostly used to manufacturer different sections of wind blades although, some companies are also using carbon fiber based non-woven prepreg in the spar section of wind blades.
Automotive industry is expected to experience the fastest growth in the next five years driven by increasing use of composites in mass produced vehicles to reduce an overall vehicle weight and increase fuel efficiency. Stringent government regulations, such as CAFÉ standards are putting pressure on automakers to either reduce the vehicle weight or downsize the engine to enhance the efficiency and reduce carbon emissions. Auto OEMs are heavily working on lightweight materials including non-woven prepreg to meet the targets set by regulations. This is pushing the demand of non-woven prepreg in the global automotive industry.
By Fiber Type:
Glass fiber based non-woven prepreg is expected to remain the largest fiber type in the global non-woven prepreg market during the forecast period, driven by wind energy and automotive industries. Carbon fiber based non-woven prepreg is expected to witness the fastest growth in the next five years. Increasing use of carbon fiber based non-woven prepreg in longer blades by major players, such as Vestas and Gamesa, increasing use of carbon composites in the structural applications in aerospace and defense aircraft and automotive industries will provide the significant growth momentum.
By Region:
Asia-Pacific is expected to remain the largest non-woven prepreg market during the forecast period. The region is also likely to grow at the fastest rate in the next five years. The largest market for wind turbine installations, the largest automotive producers, the largest electrical and electronic components manufacturing region, and the fastest growing aerospace industry are the major growth drivers of the region.
Key Players:
The supply chain of this market comprises of raw material suppliers, textile manufacturers, non-woven prepreg manufacturers, composite part manufacturers, distributors, and OEMs. The key non-woven textile manufacturers are Owens Corning, Seartex, PPG Fiberglass, Jushi, CPIC and Taishan Fiberglass and the key OEMs are Vestas, Gamesa, GE Energy, Airbus, Boeing, General Motors, and Ford.
The key non-woven prepreg manufacturers are Hexcel Corporation, Toray Industries, Gurit Holding AG, SGL Carbon, and Mitsubishi Rayon Carbon.
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