Tow Prepreg Market Forecasts to 2028 – Global Analysis By Fiber Type (Carbon, Glass and Others), Resin Type (Epoxy, Phenolic and Others), Application (Scuba Tanks, Pressure Vessel and Others), End User and By Geography
According to Stratistics MRC, the Global Tow Prepreg Market is accounted for $335.50 million in 2020 and is expected to reach $830.69 million by 2028 growing at a CAGR of 12.0% during the forecast period. Increasing use of tow prepreg in the oil & gas industry and penetration of tow prepregs in new applications are the major factors propelling the market growth. However, high processing and manufacturing cost is hampering the market growth.
Tow prepreg features high filament numbers and is mainly utilized in industries that require great robustness. Tow prepregs consist of a mixture of filament, glass fiber carbon, and duro plastic resin as binder material. The tow prepreg is pre-impregnated, which allows industrial manufacturers to enhance their output by eliminating the resin coating.
Based on the end user, the automotive & transportation segment is estimated to have a lucrative growth due to a wide range of product applications such as manufacturing of transportation materials including CNG cylinders, transmission axle, and other important automotive components. In addition, rising concerns about carbon dioxide emissions and other environmental concerns are leading to increasing demand for manufacturing fuel-efficient vehicles.
By geography, North America holds the largest share in the market. The region is predicted to cater to almost one-third of the world's operational fleet demand, leading to increased production of airframe and aircraft parts over the amount. Ascending demand for new-generation aircraft is predicted to spice up the expansion of the aircraft manufacturing industry, thereby supporting the regional market over the forecast period.
Some of the key players profiled in the Tow Prepreg Market include Arisawa Manufacturing Co., Ltd., ENEOS Corporation, Fibrtec Inc, Hexcel Corporation, Mitsubishi Chemical Corporation, North Thin Ply Technology, Porches Industries Designs, Red Composites Limited, SGL Carbon SE, TCR Composites, Teijin Limited, Toray Industries, Inc, Vitech Composites and Zoltek.
Fiber Types Covered:
• Carbon Fiber
• Glass Fiber
• Other Fiber Types
Resin Types Covered:
• Epoxy Resin
• Phenolic Resin
• Other Resin Types
• Oxygen Cylinders
• Pressure Vessel
• Scuba Tanks
• Other Applications
End Users Covered:
• Aerospace & Defense
• Automotive & Transportation
• Oil & Gas
• Sports & Recreational
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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