Ready Yourself for Challenges in the Time of COVID-19. Here’s What Stakeholders Need to Know About the Evolving Global Prepreg (Pre-Impregnated Composite Fibers) Market
The worst affected industry in this pandemic driven crisis is manufacturing with its complex supply chains, labor intensive processes, and interdependencies.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Prepreg (Pre-Impregnated Composite Fibers) market. Report segmentation includes Fiber Type (Carbon Fiber Prepreg, Glass Fiber Prepreg, Aramid Fiber Prepreg); Resin Type (Thermoset, Thermoplastic); Application (Aerospace & Defense, Automotive, Wind Energy, Sporting Goods, Electronics, Other Applications) ).
10 June 10:09 A.M., California/Marketwire/ - According to the new market research report, the worst affected industry in this pandemic driven crisis is manufacturing with its complex supply chains, labor intensive processes, and interdependencies. Division of labor, modular manufacturing strategies, outsourcing to reduce costs and increase the efficiency, consistency, and quality of each operations, have made the manufacturing sector most vulnerable amid the lockdown restrictions. As upstream, midstream and downstream sectors of manufacturing feel the ripple effect of disruption, Prepreg (Pre-impregnated Composite Fibers) also a key part of the value chain is expected to feel the heat. A revised outlook pegs the global market size at a projected US$7.5 billion for the year 2027.
The COVID-19 pandemic will have lasting long-term economic, social and political impact. The automotive industry which is facing the worst ever business disruption with production plants being shutdown both as a result of lockdown measures and falling demand, poses the biggest growth challenge for the prepreg. Decades of untiring OEM focus on vehicle performance and strength has made automotive prepreg materials important in production. New vehicle sales are rapidly declining as unemployment rates surge and consumer confidence plummets. Like the automotive sector, other end-user industries for prepreg are also reeling under a vastly similar impact. Given that maintaining focus on achieving part uniformity, consistent quality and superior surface finishes in product manufacturing is critically important, the market's growth fundamentals will nevertheless bounce back once the economic climate improves. From their early applications in the aerospace industry, prepregs are today used in a wide spectrum of industries including automotive, sporting goods, high temperature components, electronic-transmission systems, A/C ducting and in products with high impact surfaces. In the post COVID-19 period carbon fibers prepregs will witness robust demand given its many material benefits which are invaluable in automotive and aircraft parts and components manufacture. Resumption of manufacturing growth will fuel commodity prepreg applications. Also, during this period, chopped prepreg molding compound will gain in popularity. In a return to business as normal scenario, Asia-Pacific including China, will continue to be led by a recovery of growth in automobile production, increased applications in general engineering and strong demand for structural prepregs for renewable energy structures against the backdrop of growing government investments in ensuring energy sustainability and security.
Key Competitors Covered in the Report
Axiom Materials Inc.
Cytec Solvay Group
Gurit Holding AG
Holding Company Composite
Koninklijke Ten Cate bv
Mitsubishi Chemical Corporation
SGL Group - The Carbon Company
Taiwan First Li-Bond Co. Ltd.
Toray Industries Inc.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 606. Among this pool, 121 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 24 unique participations, a total of 12 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
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Global Industry Analysts, Inc.