The glass prepreg market size is expected to expand at a significant CAGR of than 7% during the forecast period, 2021–2028. Growth of the market is attributed to increasing demand for airplanes in the Asia Pacific region.
The glass prepreg is nothing more than a braided sheet of glass fiber with resins. It is weaved with glass fibers and rolled into sheets, much like a fabric. They are commonly utilized to make components lighter, and employed when great tensile strength is required. Glass prepregs have a wide range of possible applications, including usage in aviation, automotive, sporting goods, recreational equipment, electrical and electronics, insulation, piping, shipping, and other sectors.
The report on the glass prepreg market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Glass Prepreg Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Resin Type (Thermosetting and Thermoplastic), End-user Industry (Aerospace and Defense, Automotive, Wind Turbine, Sports and Leisure, Other End-user Industries) |
Geographical Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Plastic Reinforcement Fabrics, SGL Carbon, TEIJIN LIMITED, Solvay, and Hexcel Corporation. |
The thermosetting segment is anticipated to grow at rapid pace
On the basis of resin type, the glass prepreg market is bifurcated into thermosetting and thermoplastics. The thermosetting segment is estimated to represent a key share of the market during the forecast period. A thermosetting polymer, often known as a thermoset, is a polymer made by permanently hardening (curing) a soft solid or viscous liquid prepolymer (resin). Heat is typically created through the interaction of the resin with a curing agent rather than being applied externally. Due to the three-dimensional network of bonds (crosslinking), thermosetting plastics are generally stronger than thermoplastic materials. They are also better suited to high-temperature applications up to the decomposition temperature because strong covalent bonds between polymer chains cannot be easily broken.
The aerospace and defense segment is projected hold a large market share
On the basis of end users, the glass prepreg market is divided into aerospace and defense, automotive, wind turbine, sports and leisure, other end-user industries. The aerospace and defense segment is expected to represent a key share of the market during the forecast period. Rising demand for airplanes across Asia-Pacific and the Middle East and Africa area is boosting the demand for glass prepreg in the aerospace and military industry.
To fulfil the worldwide demand for air travel, major aerospace firms such as Boeing have begun to construct plants in Asian nations such as China. As a result of the aforementioned factors, the aerospace and defense industry is expected to dominate the worldwide glass prepreg market during the forecast period.
Asia-Pacific is expected to dominate the market
On the basis of geography, the glass prepreg market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia-Pacific is anticipated to dominate the market during the forecast period Due to rising demand from nations such as China, India, and Japan.
China is home to the major hub of automobile industry. There are also significant aerospace and defense sectors, as well as renewable energy industries. In addition, glass prepreg is in high demand in Southeast Asian countries for applications in aerospace, automotive, and other sectors. Reduction in automobile manufacturing in nations such as China, India, and Indonesia is expected to limit market growth during the forecast period.
Segments Covered in the Report
The glass prepreg market has been segmented on the basis of
Resin Type
End-user Industry
Regions
Key Players
Key players competing in the glass prepreg market include Plastic Reinforcement Fabrics, SGL Carbon, TEIJIN LIMITED, Solvay, and Hexcel Corporation.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
Segments Covered in the Report
The glass prepreg market has been segmented on the basis of
Resin Type
End-user Industry
Regions
Key Players
Key players competing in the glass prepreg market include Plastic Reinforcement Fabrics, SGL Carbon, TEIJIN LIMITED, Solvay, and Hexcel Corporation.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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