Global Prepreg market analysis and insights

The global prepreg (short for pre-impregnated composite fibers) market estimated at US$8.9 billion in the year 2024 is projected to grow at a CAGR of 11.9% and reach US$19.5 billion by 2030.

Prepreg market growth drivers

This growth is primarily driven by increasing demand from aerospace, automotive, wind energy, and sporting goods sectors. In aerospace and defense, prepregs are extensively used in manufacturing lightweight and durable aircraft components such as fuselages, wings, and tail sections. Similarly, the automotive industry is incorporating prepregs in electric vehicles (EVs) to reduce weight and enhance energy efficiency, which directly improves battery performance and range.

Another significant growth driver is the push for renewable energy, particularly in the wind energy sector. Prepregs are a critical material in producing longer, stronger, and more lightweight wind turbine blades, which are essential for maximizing energy output in large-scale wind farms. The global renewable energy market is expected to grow significantly, with wind energy projected to account for a large share of this expansion. China, the U.S., and Europe are heavily investing in wind energy projects, creating a strong demand for advanced materials like prepregs. Additionally, the sporting goods industry continues to adopt prepregs for high-performance equipment, including tennis rackets, golf clubs, and bicycles, further fueling market growth.

Future growth opportunities lie in the development of sustainable and bio-based prepregs, responding to increasing consumer and regulatory focus on eco-friendly solutions. Manufacturers are exploring bio-resins and recyclable fibers to reduce the environmental footprint of prepregs. Technological advancements, such as automated manufacturing processes and 3D printing using prepregs, are anticipated to lower production costs and expand their applications across industries. Additionally, innovations in thermoplastic prepregs, which offer better recyclability and shorter production cycles than thermoset variants, are likely to open new avenues for market growth.

Prepreg market regional insights

North American prepreg market is expected to grow significantly over the forecast period. This growth can be attributed to the region’s leadership in aerospace innovation, increasing adoption in wind energy projects, and growing demand for lightweight materials in automotive and industrial applications. United States contributed around 81% of the total North American air conditioning systems market is estimated to have a market value of US$2.4 billion in the year 2024. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 10.3% and 8.6% respectively over the 2024-2030 period.

Asia-Pacific prepreg market is anticipated to emerge as the fastest growing market with a CAGR of 13.7% over the analysis period, led by factors such as rapid industrialization, rising investments in infrastructure, and growing demand for electric vehicles in emerging economies like China and India. China is expected to dominate the Asia-Pacific market and reach a market size of US$3.2 billion by 2030.

Within Europe, France, Germany, and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a CAGR of 10.6% over the forecast period.

Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, and Oman due to a similar growth pattern as the Asia Pacific.

Key players

Key players profiled in the report include ACP Composites, Inc.; Airtech Advanced Materials Group; Axiom Materials, Inc.; Barrday, Inc.; BASF SE; Celanese Corporation; DuPont de Nemours, Inc.; GMS Composites Pty. Ltd.; Gurit Holding AG; Hexcel Corporation; Huntsman Corporation; Isola Group B.V.; Isovolta AG; Krempel GmbH; Mitsubishi Chemical Corporation; Norplex-Micarta; Park Aerospace Corp.; Plastic Reinforcement Fabrics Ltd.; Royal TenCate; SEIREN Co., LTD.; SGL Carbon; Solvay S.A.; TCR Composites, Inc.; Teijin Limited; Toray Industries, Inc. and Zoltek Corporation, among others.

Competitive landscape

January 03, 2025 – Gurit, a supplier of high-performance epoxy products, continues to deliver on market and customer formulation needs, now including options that are more environmentally friendly and safer for customers to use. Gurit provides a complete range of formulated products including adhesives, in-mold gelcoats, laminating and multipurpose systems with bio-content as standard. This includes its Prime resin infusion range for composite tooling and components and Ampreg wet laminating range.

September 10, 2024 – Hexcel Corporation, a leading manufacturer of advanced composite reinforcement materials, has announced the launch of its new HexForce® 1K woven reinforcement fabric. This lightweight fabric leverages the Hexcel proprietary HexTow® AS4C 1K carbon fiber, enabling the production of high-strength, low-weight composite materials.

Global prepreg market segmentation

• By type of fiber reinforcement
  • Carbon fiber prepreg
  • Glass fiber prepreg
  • Aramid fiber prepreg

• By resin type
  • Thermoset
  • Thermoplastic

• By application
  • Aerospace and defense
  • Automotive
  • Energy and power
  • Sports and recreation
  • Marine
  • Electrical and electronic
  • Construction
  • Others

• By region
  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East and Africa

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The report provides market estimates and forecast for geographic markets such as the North America (US, Canada, Mexico and Rest of North America), South America (Brazil, Argentina and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Norway, Switzerland, Denmark and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel and Rest of Middle East) & Africa.