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Tow prepreg Market Trends

Report ID: GMI8512
Published Date: Mar 2024
Report Format: PDF

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Tow Prepreg Market Trends

Preferred for its strength and low weight, tow prepreg is experiencing a boom in demand from major sectors such as sports, automotive, and aerospace. Improvements in manufacturing, such as automation and better resins, which result in higher quality and more uses, are also driving this rise. Environmental concerns are also propelling the use of eco-friendly prepreg materials, opening intriguing new possibilities in the fields of electric vehicles and wind turbines. To fully benefit from the growing tow prepreg industry, it will be essential to embrace these changing trends and sustainable methods.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market for tow prepreg was valued at around USD 330 million in 2023 and is anticipated to register over 12.3% CAGR between 2024 and 2032, driven by the increasing demand in industries like aerospace, cars, and sports equipment for the product features like very strong, stiff, and can bounce back to its original shape easily.

Epoxy segment was valued at USD 262 million in 2023 and is expected to be worth over USD 732 million by 2032 due to its impressive strength, adhesion, and adaptability.

North America had a significant position in the global tow prepreg industry with a revenue size of USD 112.1 million in 2023 and is expected to reach USD 300.3 million by 2032 due to growing product demand from the aerospace, automotive, and sports industries.

Axiom Materials, Cytec Solvay Group, Gurit, Hexcel Corporation, Mitsubishi Chemical Advanced Materials, Park Aerospace Corp, Renegade Materials Corporation, SGL Carbon, Sigmatex, Teijin Carbon Europe GmbH, TenCate Advanced Composites, and Toray Advanced Composites.