Global tow prepreg market to reach USD 493.4 million by 2027. Global tow prepreg market is valued approximately at USD 223.2 million in 2020 and is anticipated to grow with a healthy growth rate of about 12.0% over the forecast period 2021-2027. Tow prepreg refers to an intermediate material for the filament winding process that has been pre-impregnated fiber tow, with resin system. As dry filament winding process is emerging as an alternative to conventional filament winding, called wet filament winding process, the interest and popularity of tow prepreg, as a material for dry filament winding is increasing as well. The global tow prepreg market is being driven by growing automotive and transportation industry and advantages over the wet-winding process. Furthermore, rising demand for tow prepregs in the aerospace industry will provide new opportunities for the global tow prepreg industry. Market players across the globe are also significantly contributing towards the market growth through a range of strategic initiatives. For instance, in 2019, Teijin Limited acquired all the shares of Renegade (Renegade Materials Corporation), which is one of the leading North America based suppliers of thermoset prepreg (highly heat - resistant) for the aerospace industry. Also, in 2019, TCR Composites announced to establish new production capabilities in tow prepreg in the Republic of Korea. Such strategic initiatives taken by the market players across the globe is expected to further fuel developments in the market which is expected to boost the market growth. However, high processing and manufacturing cost may impede market growth over the forecast period of 2021-2027.
The regional analysis of the global tow prepreg market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe accounts for the largest share in terms of market revenue in the global tow prepreg market over the forecast period 2021-2027. Factors such as rising demand of tow prepregs from domestic industries, increasing demand from automotive, aerospace, and oil & gas industries, etc. contribute towards the largest market share of the region in the forecast years.
Major market player included in this report are:
SGL Carbon SE
ENEOS Holdings, Inc.
Mitsubishi Chemical Carbon Fiber and Composites, Inc.
Arisawa Manufacturing Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Resin Type:
By Fiber Type:
By End-Use Industry:
Aerospace & Defense
Automotive & Transportation
Sports & Recreational
Oil & Gas
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Tow Prepreg Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers