Epoxy Segment to Dominate Asia Pacific Tow Prepregs Market during 2020-2028
According to this research study titled “Asia Pacific Tow Prepregs Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast - by Fiber Type, Resin Type, End-Use Industry and Country,” the market is expected to reach US$ 396.91 million by 2028 from US$ 156.32 million in 2020. The market is estimated to grow at a CAGR of 12.4% from 2020 to 2028. The report provides trends prevailing in the Asia Pacific tow prepregs market along with the drivers and restraints pertaining to the market growth. Growth of automotive and transportation industry and heightening demand for lightweight and cost-efficient materials are the major factors driving the growth of the Asia Pacific tow prepregs market. However, the high cost associated with carbon fiber and other such raw materials may hinder the growth of Asia Pacific tow prepregs market.
In case of COVID-19, Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of tow prepregs manufacturing activities. Downfall in other chemical and materials manufacturing sector has subsequently impacted the demand for tow prepregs during the early months of 2020. Moreover, decline in the overall fabric and resin manufacturing activities has led to the discontinuation of tow prepregs manufacturing projects, thereby reducing the demand for tow prepregs. Similar trend was witnessed in other Asia Pacific countries such as Japan, China, and Australia. However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of 2021.
The market for Asia Pacific tow prepregs is segmented into fiber type, resin type, end-use industry, and country. Based on fiber type, the market is segmented into carbon, glass, and others. In 2019, the carbon segment held the largest share in Asia Pacific tow prepregs market. Based on resin type, the Asia Pacific tow prepregs is bifurcated into epoxy, phenolic, and others. The phenolic segment is expected to be the fastest growing segment over the forecast period. Based on end-use industry, the Asia Pacific tow prepregs is broken into aerospace and defense, automotive and transportation, sports and recreational, oil and gas, and others. In 2019, the aerospace and defense segment held the largest share in Asia Pacific tow prepregs market. Furthermore, in this present scenario of COVID-19 pandemic, the Asia Pacific tow prepregs market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for tow prepregs.
Arisawa Manufacturing Co., Ltd.; Eneos Corporation; Hexcel Corporation; Mitsubishi Chemical Corporation; Porcher Industries; SGL Carbon; TCR Composites, Inc.; Teijin Limited; and Toray Industries, Inc. are some of the leading companies in the Asia Pacific tow prepregs market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The report segments the Asia Pacific Tow Prepregs market as follows:
Asia Pacific Tow Prepregs Market - By Fiber Type
Asia Pacific Tow Prepregs Market - By Resin Type
Asia Pacific Tow Prepregs Market - By End-Use Industry
Asia Pacific Tow Prepregs Market - By Country
In case of COVID-19, Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of tow prepregs manufacturing activities. Downfall in other chemical and materials manufacturing sector has subsequently impacted the demand for tow prepregs during the early months of 2020. Moreover, decline in the overall fabric and resin manufacturing activities has led to the discontinuation of tow prepregs manufacturing projects, thereby reducing the demand for tow prepregs. Similar trend was witnessed in other Asia Pacific countries such as Japan, China, and Australia. However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of 2021.
The market for Asia Pacific tow prepregs is segmented into fiber type, resin type, end-use industry, and country. Based on fiber type, the market is segmented into carbon, glass, and others. In 2019, the carbon segment held the largest share in Asia Pacific tow prepregs market. Based on resin type, the Asia Pacific tow prepregs is bifurcated into epoxy, phenolic, and others. The phenolic segment is expected to be the fastest growing segment over the forecast period. Based on end-use industry, the Asia Pacific tow prepregs is broken into aerospace and defense, automotive and transportation, sports and recreational, oil and gas, and others. In 2019, the aerospace and defense segment held the largest share in Asia Pacific tow prepregs market. Furthermore, in this present scenario of COVID-19 pandemic, the Asia Pacific tow prepregs market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for tow prepregs.
Arisawa Manufacturing Co., Ltd.; Eneos Corporation; Hexcel Corporation; Mitsubishi Chemical Corporation; Porcher Industries; SGL Carbon; TCR Composites, Inc.; Teijin Limited; and Toray Industries, Inc. are some of the leading companies in the Asia Pacific tow prepregs market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The report segments the Asia Pacific Tow Prepregs market as follows:
Asia Pacific Tow Prepregs Market - By Fiber Type
- Carbon
- Glass
- Others
Asia Pacific Tow Prepregs Market - By Resin Type
- Epoxy
- Phenolic
- Others
Asia Pacific Tow Prepregs Market - By End-Use Industry
- Aerospace and Defense
- Automotive and Transportation
- Sports and Recreational
- Oil and Gas
- Others
Asia Pacific Tow Prepregs Market - By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
Table of Contents
1. Introduction
3. Research Methodology
4. Asia Pacific Tow Prepregs Market Landscape
5. Asia Pacific Tow Prepregs Market - Key Market Dynamics
6. Tow Prepregs - Asia Pacific Market Analysis
7. Asia Pacific Tow Prepreg Market Analysis - By Fiber type
8. Asia Pacific Tow Prepreg Market Analysis - By Resin Type
9. Asia Pacific Tow Prepreg Market Analysis - By End-Use Industry
10. Asia Pacific Tow Prepreg Market - Country Analysis
11. Impact of COVID-19 Pandemic on Asia Pacific Tow Prepregs Market
12. Industry Landscape
13. Company Profiles
14. Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Arisawa Manufacturing Co., Ltd.
- Eneos Corporation
- Hexcel Corporation
- Mitsubishi Chemical Corporation
- Porcher Industries
- SGL Carbon
- TCR Composites, Inc.
- Teijin Limited
- Toray Industries, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 139 |
| Published | June 2021 |
| Forecast Period | 2020 - 2028 |
| Estimated Market Value ( USD | $ 156.32 Million |
| Forecasted Market Value ( USD | $ 396.91 Million |
| Compound Annual Growth Rate | 12.4% |
| Regions Covered | Asia Pacific |
