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Global Tow Prepreg Market, By Resin Type, By Fiber Type, By Application, By End User, Estimation & Forecast, 2017 - 2027

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  • 129 Pages
  • January 2022
  • Region: Global
  • Astute Analytica
  • ID: 5547461
The global tow prepreg market held a market value of USD 290.9 Million in 2021 and is projected to reach USD 438.8 Million by the year 2027. The market is anticipated to grow at a CAGR of 7.1% from 2022 to 2027. Around 54,632.5 tons of tow prepreg was sold in 2021.

The market is expected to be driven by the advantages over wet-winding process and increasing demand from emerging economies. Furthermore, increasing use of tow prepreg in the automotive and aerospace industry are also estimated to fuel the market growth.

Despite the driving factors, high processing and manufacturing cost are anticipated to hinder the market growth. Furthermore, during the COVID-19 pandemic, the market was negatively impacted due to the closure of the end-use industries.

Growth Influencers:

Increasing use of tow prepreg in the automotive and aerospace industry

Aerospace and automotive sectors are amongst the largest consumers of tow prepreg. Tow prepreg help in increasing the fuel efficiency and decrease the weight. It also provides high strength-to-weight capability, which allows highly aerodynamic and structural designs. Therefore, growing usage of tow prepreg in the aerospace and automotive industry is anticipated to fuel the market growth.

Segments Overview:

The global tow prepreg market is segmented into resin type, fiber type, application,, and end user.

By Resin Type,

  • Epoxy
  • Phenolic
  • Others

The epoxy segment is estimated to account for a market size of USD 200 million by 2026 owing to the rising demand of epoxy resin for pressure vessels. Furthermore, phenolic segment is anticipated to witness the highest growth rate of about 7.8% over the projected period owing to their increasing usage in various industries.

By Fiber Type,

  • Carbon
  • Glass

The glass segment is estimated to generate a revenue of USD 150 million in 2021 owing to its good durability, thermal conductivity, chemical resistance, as well as dimensional stability. Carbon segment is also expected to witness significant growth owing to its low weight, low thermal expansion, and high tensile strength.

By Application,

  • Pressure Vessel
  • Oxygen Cylinder
  • Others

The pressure vessel segment is anticipated to grow at the fastest growth rate of about 7.4% over the projected period owing to the rising demand of pressure vessels in the oil and gas industry.

By End User,

  • Aerospace and Defense
  • Automotive and Transportation
  • Sports and Recreational
  • Oil and Gas
  • Others

The oil and gas segment is estimated to account for a market share of over 25% in 2021 owing to the growing usage of tow prepreg in the industry. Moreover, the automotive and transportation segment is expected to witness the fastest growth rate of about 7.6% over the forecast period owing to the better fuel efficiency provided by tow prepreg, which is a vital aspect of the automotive industry.

Regional Overview

By region, the global tow prepreg market is divided into Asia Pacific, Europe, North America, Middle East & Africa, and South America.

The North America region accounted for the largest market share of more than 35% owing to the growing oil & gas and aerospace industry in the region. Within the Asia Pacific region, China is estimated to account for the dominant share of more than 48% in 2021 owing to the presence of manufacturing plants in the country.

Competitive Landscape

Major players in the global tow prepreg market include TEIJIN Limited, Mitsubishi Chemical Holdings, SGL Carbon, TCR Composites, Inc., ENEOS Holdings, Inc., PORCHER Industries, Hexcel Corporation, Red Composites Ltd., Toray Group, and Arisawa Mfg. Co., Ltd., among others.

These market players are involved in collaborations, mergers & acquisitions, and new product launches, among other initiatives, to strengthen their market presence. For instance, in December 2021, Hexcel completed the supply of a 34m HexPly carbon fiber prepreg mast for Chantiers de l’Atlantique Silenseas project. This supply fulfilled all the parameters of processing, mechanical, and project quality performance targets. Similarly, in November 2021, Toray Industries Inc.’s subsidiary Zoltek Companies, Inc. announced the bolstering of its large-tow carbon fiber production capacity by 2023. The production capacity is set to increase to more than 40,000 filaments. This capacity boost is estimated to cost around USD 130 million to the company.

The global Tow prepreg market report provides insights on the below pointers:

  • Market Penetration: Provides comprehensive information on the market offered by the prominent players
  • Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
  • Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
  • Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Tow prepreg market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
  • Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The global Tow prepreg market report answers questions such as:

  • What is the market size and forecast of the Global Tow prepreg Market?
  • What are the inhibiting factors and impact of COVID-19 on the Global Tow prepreg Market during the assessment period?
  • Which are the products/segments/applications/areas to invest in over the assessment period in the Global Tow prepreg Market?
  • What is the competitive strategic window for opportunities in the Global Tow prepreg Market?
  • What are the technology trends and regulatory frameworks in the Global Tow prepreg Market?
  • What is the market share of the leading players in the Global Tow prepreg Market?
  • What modes and strategic moves are considered favorable for entering the Global Tow prepreg Market?

Table of Contents

Chapter 1 Tow Prepreg Market Scope 13
1.1 Product Overview and Scope of Tow Prepreg 13
1.2 Objective of the study 14
1.3 List of Assumptions 16
1.4 Currency Exchange Rate 17
Chapter 2 Executive Summary 18
2.1 Global Tow Prepreg Market Share Comparison by Region 18
2.2 Market Introduction 19
2.3 Market Value and Growth Factor Analysis 19
2.4 Segmental Overview 19
Chapter 3 Research Methodology 21
3.1 Research Process 21
3.2 Market Size Estimation Methodology 22
3.2.1 Primary Research 24
3.2.2 Secondary Research 24 Secondary Research Sources 24
3.2.3 Analyst Tools and Models 25
3.3 Forecasting Methodology 25
Chapter 4 Global Tow Prepreg Market Overview 27
4.1 Global Tow Prepreg Market Key Players 27
4.2 Market Dynamics 28
4.2.1 Drivers 28 Increasing use of tow prepreg in the automotive & aerospace industry 28 Advantages over wet-winding process 29
4.2.2 Restraints 30 High processing and manufacturing cost 30
4.2.3 Opportunity 31 Increasing demand from emerging economies 31
4.2.4 Trend 32 Product Launch and Acquisition is Emerging as the Significant Marketing Strategies by the Key Players 32
4.3 COVID-19 Impact 32
4.3.1 Global COVID-19 Status Overview 32
Chapter 5 Global Tow Prepreg Market Analysis, by Region 34
5.1 Sector Breakdown Assessment, 2017-2027 34
Chapter 6 Global Tow Prepreg Market Analysis, by Resin Type 37
6.1 Introduction 37
Chapter 7 Global Tow Prepreg Market Analysis, by Fiber Type 40
7.1 Introduction 40
Chapter 8 Global Tow Prepreg Market Analysis, by Application 42
8.1 Introduction 42
Chapter 9 Global Tow Prepreg Market Analysis, by End User 44
9.1 Introduction 44
Chapter 10 North America Tow Prepreg Market Analysis 47
10.1 Introduction 47
10.2 North America Tow Prepreg Market, by Country 47
Chapter 11 Asia Pacific Tow Prepreg Market Analysis 57
11.1 Introduction 57
11.2 Asia Pacific Tow Prepreg Market, by Country 57
Chapter 12 Europe Tow Prepreg Market Analysis 67
12.1 Introduction 67
12.2 Europe Tow Prepreg Market, by Country 67
Chapter 13 South America Tow Prepreg Market Analysis 78
13.1 Introduction 78
13.2 South America Tow Prepreg Market, by Country 78
Chapter 14 MEA Tow Prepreg Market Analysis 89
14.1 Introduction 89
14.2 MEA Tow Prepreg Market, by Country 89
Chapter 15 Company Profiles 99
15.1.1 Company Information 99
15.1.2 Main Business Overview 99
15.1.3 Products Offered 99
15.1.4 Recent Development 100
15.1.5 Company Financials 100
15.1.6 SWOT Analysis 101
15.2 Mitsubishi Chemical Holdings 102
15.2.1 Company Information 102
15.2.2 Main Business Overview 102
15.2.3 Products Offered 102
15.2.4 Recent Development 103
15.2.5 Company Financials 103
15.2.6 SWOT Analysis 104
15.3 SGL Carbon 105
15.3.1 Company Information 105
15.3.2 Main Business Overview 105
15.3.3 Products Offered 105
15.3.4 Recent Development 106
15.3.5 Company Financials 106
15.3.6 SWOT Analysis 107
15.4 TCR Composites, Inc 108
15.4.1 Company Information 108
15.4.2 Main Business Overview 108
15.4.3 Products Offered 108
15.4.4 Company Financials 109
15.4.5 SWOT Analysis 109
15.5.1 Company Information 110
15.5.2 Main Business Overview 110
15.5.3 Products Offered 110
15.5.4 Company Financials 111
15.5.5 SWOT Analysis 111
15.6.1 Company Information 112
15.6.2 Main Business Overview 112
15.6.3 Products Offered 113
15.6.4 Company Financials 113
15.6.5 SWOT Analysis 114
15.7 Hexcel Corporation 115
15.7.1 Company Information 115
15.7.2 Main Business Overview 115
15.7.3 Products Offered 116
15.7.4 Recent Development 116
15.7.5 Company Financials 116
15.7.6 SWOT Analysis 117
15.8 Red Composites Ltd 118
15.8.1 Company Information 118
15.8.2 Main Business Overview 118
15.8.3 Products Offered 118
15.8.4 Company Financials 119
15.8.5 SWOT Analysis 119
15.9 Toray Group 120
15.9.1 Company Information 120
15.9.2 Main Business Overview 120
15.9.3 Products Offered 121
15.9.4 Recent Development 121
15.9.5 Company Financials 121
15.9.6 SWOT Analysis 123
15.10 Arisawa Mfg. Co., Ltd 124
15.10.1 Company Information 124
15.10.2 Main Business Overview 124
15.10.3 Products Offered 125
15.10.4 Company Financials 125
15.10.5 SWOT Analysis 126

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Mitsubishi Chemical Holdings
  • SGL Carbon
  • TCR Composites, Inc
  • Hexcel Corporation
  • Red Composites Ltd
  • Toray Group
  • Arisawa Mfg. Co., Ltd

Table Information