Lucintel Identifies and Prioritizes Opportunities for Growth in Global Prepreg Market by Region and Market Segment

According to a new composite materials industry report market report published by Lucintel, the future of the global prepreg market looks strong with opportunities in the aerospace, sporting goods, and industrial markets. The global prepreg market is forecast to grow at a CAGR of 8.4% from 2015 to 2020. The major drivers of growth for this market are greater penetration of prepreg materials in applications, such as aerospace, defense, wind energy, and automotive, and escalated demand for lightweight, environment-friendly, and efficient products. Advantages of corrosion resistance, higher strength-to-weight ratio, lower maintenance, and a longer lifecycle than other traditional materials, like aluminum and steel, are additional factors contributing to the market growth. Growth of further demand in key end-use industries, such as aerospace and wind energy, is expected to remain a key driving factor for the global prepreg market.

The commercial aerospace segment is expected to record the highest growth during the forecast period. Lucintel adds that the aerospace market is predicted to remain robust due to strong back orders for Boeing 787 and Airbus 380 aircraft. New products, including COMAC 919, are expected to increase the production rate from eight per year to 200 per year by 2020.

Although North America is the largest region in terms of value shipment, APAC is expected to witness the highest growth during the forecast period (2015-2020). Lucintel believes that Asia, particularly China, will continue to see tremendous growth in wind energy over the next five years. As the industry moves to supply offshore wind turbines that are larger, manufacturers will continue to incorporate more carbon fiber reinforced prepreg into their designs. This means that the underlying prepreg demand for wind turbine applications should grow at a faster rate than wind generation capacity itself.

For market expansion, the report suggests innovation and new product development. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for end users. Cytec, Hexcel, Gurit, Newport, and Toray are among the major suppliers of prepreg. There are some companies that are opting for M&A services as a strategic initiative for driving growth.

Lucintel, a leading global strategic consulting and market research firm, has analyzed the global prepreg market by region and market segment and has come up with a comprehensive composite materials market report , “Global Prepreg Market 2015-2020: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for the growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes forecast of the global prepreg market through 2020, segmented by region and market segment as follows:

Prepreg market by region-

·         North America

·         Europe

·         Asia and Rest of World

Prepreg market by market segment-

·         Aerospace

·         Industrial

·         Sporting Goods

This 215-page research report on composites industry will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents contact Lucintel at +1-972-636-5056 or click on this link…… or helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.