According to a research report by Stratview Research, the Thermoplastic Prepreg Market is likely to make a healthy rebound, reaching a value of US$ 170.2 Million by 2026. Thermoplastic prepreg currently accounts for less than 5% of the global prepreg market; however, it is likely to grow at a faster rate than the overall prepreg market in the coming five years, driven by an expected recovery in the aerospace & defense and automotive industries.

Market Highlights

Thermoplastic prepregs offer a series of advantages including faster part cycle time, recyclability, ease of fabrication, and excellent mechanical properties. Major aircraft OEMs: Boeing, Airbus, and Gulfstream have efficaciously started leveraging the potential of thermoplastic composites from the tail to wings to fuselage components in their latest aircraft. Though thermoset prepregs have been the perennial choice for several decades in the aerospace industry, the penetration of thermoplastic composites is likely to rise in the future with the continuous advancements in materials, technology, and processes. Major thermoplastic prepreg manufacturers are avidly working with tier players and OEMs in order to develop new applications using thermoplastic prepregs.

The outburst of COVID-19 has caused an unnerving impact on the two-key demand-generators of thermoplastic prepreg, the aerospace, and automotive industries. The aerospace industry is likely to be the hardest hit by the pandemic with the grave repercussions in the first half of 2020. Similarly, the automotive production levels are expected to slump massively in 2020, imprinting an appalling impact on the industry (Automotive production’s plummet during the Great Recession: -12.1% YoY 2008-2009 and The Great Lockdown: -22% YoY 2019-2020).

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis

• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis

• Market trend and forecast analysis

• Market segment trend and forecast

• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.

• Attractive market segments and associated growth opportunities

• Emerging trends

• Strategic growth opportunities for the existing and new players

• Key success factors

Segments' Analysis

The market is segmented based on the end-use industry as aerospace & defense, consumer goods, automotive, and others. Despite suffering a grave impact of the pandemic in 2020, aerospace & defense is projected to remain the most dominant segment of the market during the forecast period. Gradually rebounding the production of commercial aircraft coupled with an increase in penetration of thermoplastic composites, especially in composite-rich aircraft programs, such as B787 and A350XWB is likely to fuel the growth of the segment in the long-term. Clips and cleats used in the fuselage are the major applications of thermoplastic prepregs in these aircraft programs.

Based on the resin type, we have segmented the market as PPS, PEEK, PEI, and others. PPS resin is likely to maintain its unquestionable lead in the market, along with the fastest recovery in the post-pandemic scenario. PPS resin has good dimensional stability even at elevated temperatures and in the harsh chemical environment coupled with the advantage of the ease of molding complex parts with a tight tolerance making them the preferred material for various aircraft applications, especially in aircraft airframes. The aircraft industry is also showing a sheer interest in PEEK-based thermoplastic prepregs.

Based on the fiber type, carbon fiber is projected to remain the larger segment of the market during the forecast period. Carbon fiber offers numerous advantages, such as excellent weight reduction, high strength-to-weight ratio, high tensile and compressive strength, low coefficient of thermal expansion, and high fatigue resistance but at a very high cost. Major thermoplastic composite applications in aircraft, such as clips and cleats, are fabricated with carbon fiber-based thermoplastic prepreg.

Based on the manufacturing process type, we have classified the market as compression molding, injection molding, AFP (Automated Fiber Placement)/ATL (Automated Tape Layup), and others. Compression molding is expected to maintain its supremacy in the market. The process offers a faster part cycle time, reduced part wastage, and reduced defects, which overall leads to a lower part cost. On the other hand, AFP/ATL is likely to grow at the quickest pace during the same period, driven by increasing demand for an automated process that can lay the prepreg at a faster rate than the manual layup process and generate low void content.

In terms of regions, Europe is expected to maintain its unassailable dominance in the market, also recovering at the fastest rate during the forecast period. Airbus is one of the major consumers of thermoplastic prepregs in Europe. Major thermoplastic component manufacturers have set up their manufacturing plants in the region in order to remain proximal with the Airbus assembly plants to fulfill its current and future requirements of composite parts made with thermoplastic prepregs. North America to suffer the most severe jolt due to the pandemic, subsequently marking the fast rally. The major OEMs, Boeing and Gulfstream Aerospace are likely to drive the demand for thermoplastic composite parts in the region in the long run.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Leading Players Covered in the forklift truck market Report:

• Solvay S.A.

• Toray Industries, Inc.

• Lanxess A.G

• SABIC

• Teijin Group.

To develop better customer understanding, the team at Stratview Research employ a range of quantitative and qualitative market research approaches. This report aims to help the users make use of the available data in a way, that profits the business and leads to growth.

Stratview Research is interested in learning what additional information, if included, would be beneficial to the users’ business. We also customise reports based on your preferred countries/regions, segmentations, companies, and so on. You can share any specific requirements related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com