Thermoplastic Prepreg Market to reach US$ 223.2 Million in 2024
February 06, 2020
Thermoplastic Prepreg currently accounts for less than 5% of the global prepreg market; however, it is likely to grow at a faster rate than the overall prepreg market in the coming five years, driven by the aerospace & defense and automotive industries. The global thermoplastic prepreg market is projected to grow at an impressive rate over the next five years to reach an estimated value of US$ 223.2 million in 2024.
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Thermoplastic Prepreg Market Segment Insights:
By End-Use Industry Type:
Based on the end-use industry type as aerospace & defense, consumer goods, automotive and others. Aerospace & Defense is projected to remain the most dominant segment of the global thermoplastic prepreg market during the forecast period. Increasing production of commercial aircraft coupled with an increase in penetration of thermoplastic composites, especially in composite-rich aircraft programs, such as B787 and A350XWB is likely to fuel the growth of the segment in the coming years. Clips and cleats used in fuselage are the major applications of thermoplastic prepreg in these aircraft programs.
By Resin Type:
Based on the resin type, PPS resin dominates the thermoplastic prepreg market and is expected to maintain its dominance during the forecast period as well. PPS resin has good dimensional stability even at elevated temperatures and in the harsh chemical environment. The resin system also has the advantage of molding complex part easily and with a tight tolerance. Also, the resin type finds usage in various aircraft applications, especially in aircraft airframe. The aircraft industry is also showing a sheer interest in PEEK-based thermoplastic prepregs.
By Fiber Type:
Based on the fiber type, carbon fiber is projected to remain the larger segment of the global thermoplastic prepreg market during the forecast period. Carbon fiber offers numerous advantages, such as excellent weight reduction, high strength-to-weight ratio, high tensile and compressive strength, low coefficient of thermal expansion, and high fatigue resistance but at a very high cost. Major thermoplastic composite applications in an aircraft, such as clips and cleats, are fabricated with carbon fiber-based thermoplastic prepreg.
By Product Type:
Based on the product form type, the global thermoplastic prepreg market is classified as unidirectional prepreg and fabric prepreg. The unidirectional prepreg is likely to remain the larger segment of the global thermoplastic prepreg market during the forecast period, owing to its low cost. The product type is also considered suitable for aircraft structural applications requiring high strength in one direction.
By Manufacturing Process Type:
Based on the manufacturing process type, the global thermoplastic prepreg market is classified as compression molding, injection molding, AFP (Automated Fiber Placement)/ATL (Automated Tape Layup), and others. Compression molding is the most dominant process type in the global thermoplastic prepreg market. The process offers a faster part cycle time, reduced part wastage, and reduced defects, which overall lead to a lower part cost. AFP/ATL is likely to be the fastest-growing process type during the same period, driven by increasing demand for an automated process that can layup prepreg at a faster rate than the manual layup process and generates low void content.
By Region:
Based on regions, Europe is expected to remain the largest thermoplastic prepreg market during the forecast period. Airbus is one of the major consumers of thermoplastic prepregs in Europe. Major thermoplastic component manufacturers have set up their manufacturing plants in the region in order to be proximal with the Airbus assembly plants to fulfill its current and future requirements of composite parts made with thermoplastic prepregs.
North America was the second-largest thermoplastic prepreg market in the world after Europe and is expected to maintain its position in the coming five years as well. Boeing and Gulfstream Aerospace are the major OEMs, which are likely to drive the demand for thermoplastic composite parts in the region.
Key Players:
The supply chain of this market comprises raw material suppliers, thermoplastic prepreg manufacturers, distributors, thermoplastic composite component manufacturers, OEMs, and MRO companies. The key thermoplastic prepreg manufacturers include Cytec Solvay Group, Koninklijke TenCate nv, Lanxess A.G, SABIC, and Teijin Group (Toho Tenax). Some of the major end-users in the thermoplastic prepreg market include Airbus, Boeing, Gulfstream Aerospace, Dassault Aviation, Lenovo, and Hewlett-Packard (HP). The formation of long-term contracts, application development, and development of innovative products are some of the key strategies adopted by the major players in order to gain a competitive edge in the market.
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