Global Tow Prepreg Market, analyzed by Astute Analytica, was valued at US$ 290.9 Mn in 2021 and is projected to reach US$ 438.8 Mn by 2027, registering a CAGR of 7.1% over the projection period. In terms of volume, the market is registering a CAGR of 6.6% during 2022-2027. Tow prepreg refers to composite materials such as carbon, graphite, or glass fibres that are “pre-impregnated” with resins and then cured. The prepreg process can be accomplished by hot-melt impregnation, resin filming, or solvent impregnation. The various end-use industries which use tow prepregs are aerospace & defense, automotive & transportation, sports & recreational, and oil & gas, among others.
The market is majorly driven by factors such as increasing use of tow prepreg in the automotive & aerospace industry and the advantages it has over wet-winding process. The rise in demand of electric vehicle to reduce the emission of green-house gases such as CO2 as compared to other gasoline or conventional vehicles is augmenting the growth of tow prepreg market owing to the use of tow prepreg in the manufacturing of CNG cylinders, transmission axle, leaf springs, and other automotive components. Further, the automotive & aerospace industry is significantly adopting tow prepregs to achieve improved performance such as high mechanical properties and low weight. In addition, the growing automotive production coupled with rising investments in the industry is propelling market growth. Furthermore, for some applications, filament winding with prepreg tow has advantages over wet winding. Prepreg tow enables for more exact resin content control, resulting in reduced fluctuation in the mechanical properties of the cured item. Prepreg towing also has the benefit of enabling for a significantly cleaner work environment with decreased environmental hazards for the operators. However, the high processing and manufacturing cost is hindering the market growth.
Key Insights of the Report:
Key Takeaways from the Global Tow Prepreg Market Report:
Competitive Dashboard
The key players in the global tow prepreg market are Teijin Ltd., Mitsubishi Chemical Holdings, SGL Carbon, TCR Composites, Inc., ENEOS Holdings Inc., Arisawa Mfg. Co., Ltd., Toray Group, Red Composites Ltd., Hexcel Corporation, and Porcher Industries, among others.
Segmentation Overview
The following are the various segments of the Global Tow Prepreg Market:
By Resin Type segment of the Global Tow Prepreg Market is sub-segmented into:
By Fiber Type segment of the Global Tow Prepreg Market is sub-segmented into:
By Application segment of the Global Tow Prepreg Market is sub-segmented into:
By End Users segment of the Global Tow Prepreg Market is sub-segmented into:
By Region segment of the Global Tow Prepreg Market is sub-segmented into:
Global Tow Prepreg Market was valued at US$ 290.9 Mn in 2021.
Global Tow Prepreg Market is projected to expand at a CAGR of 7.1% during the forecast period.
The market is majorly driven by factors such as increasing use of tow prepreg in the automotive & aerospace industry and the advantages it has over wet-winding process.
Increasing demand from emerging economies is creating a lucrative opportunity for the market growth.
The high processing and manufacturing cost is hindering the market growth.
The various segments considered to analyze the market are based on resin type, fiber type, application, end user, and region.
Epoxy resins holds the highest share in the global tow prepreg market.
Oxygen cylinders are the highest application segment in the market in 2021.
Oil & gas industry is the highest end user in the Global Tow Prepreg Market.
North America dominates the Global Tow Prepreg Market in 2021.
The key players in the global tow prepreg market are Teijin Ltd., Mitsubishi Chemical Holdings, SGL Carbon, TCR Composites, Inc., ENEOS Holdings Inc., Arisawa Mfg. Co., Ltd., and Porcher Industries among others.