Market Research

Glass Prepreg Market Size to Reach $1.4 Billion by 2025 Growing at a CAGR of 6.5% During the Forecast Period

Jul 21, 2020 3:58 PM ET

iCrowd Newswire – Jul 21, 2020

Glass Prepreg Market size is forecast to reach $1.4 billion by 2025, after growing at a CAGR of 6.5% during the forecast period from 2020-2025. Reinforcing fabric such as glass fiber is widely used by various fabricators to reduce the weight of different parts in applications such as sporting goods, pressure vessels, and commercial products. With increasing demand of lightweight vehicles and lightweight aircraft there is a rise in production of aerospace and automotive industry, owing to increase of glass prepreg industry in the forecast period.

By Resin Type- Segment Analysis

Thermosetting resin held the largest share in the glass prepreg market and is widely used in various applications. Properties such as mechanical & chemical and dimensional stability, low cost, and easy processing, and handling is increasing the use of Thermosetting resin in Glass Prepreg industry. The thermosetting resin has six types of resin such as, epoxy resin, polyester resin, phenol resins, vinyl ester resin, polyurethane, and high temperature resins (such as cyanate ester) out of which the epoxy resin segment holds key share of the thermosetting resin and is used in fiberglass prepreg reinforcements. Also, Phenol resin is used in the production of aircraft interiors and galley walls.

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Application- Segment Analysis

Aerospace is the largest growing application with CAGR of 7.1% in glass prepreg market over the forecast period. About 50% of the weight of the airplanes is constructed using composites. Even though a number of composite matrices can be used in aerospace products, E-Glass remains one of the reinforcements most commonly used. The bodies of fiber glass planes weigh less than the conventional aluminum planes, with the use of glass fiber Prepreg the weight of interiors from airplane seats to washstands to overhead bins can be minimized; decreased weight makes all of these things less vulnerable in the case of a collision or hard landing. Also, Glass Fiber Prepreg can increase the flying range as well as improve fuel economy. In addition, thermoset polymer matrix used in application such as glass-reinforced plastic radar domes on aircraft and graphite-epoxy payload bay doors on the space shuttle will further drive the market in the projected period.

Geography- Segment Analysis

North America held the largest share with 38.9% in 2019 in glass prepreg market, due to increase in rise of aerospace industry. Internationally, U.S is the largest aerospace industry in the world. In May 2017, the United States aircraft giant, Boeing, had started to build its first overseas factory in China aiming to deliver 100 Boeing 737 planes per year. It is likely to start delivering planes by the end of March 2018. According to SelectUSA, in 2018 the sector contributed 151 billion dollars in export revenue to the U.S. economy.

Drivers –Glass Prepreg Market

Increasing demand of lightweight vehicles

Glass Prepreg is used for its tensile strength, temperature tolerance and dimensional flexibility in automotive and aerospace applications. Treated glass cords are used for reinforcing extruded profiles of rubber and thermoplastics in automotive applications as well as clutch disks and brake pads are lined with woven fiberglass to maintain the plastic quality in a warm and abrasive environment. Lightweight materials are important to improve the fuel efficiency of modern vehicles while maintaining their safety and durability. Since driving a lighter vehicle demands less energy than a heavy one, lightweight materials provide greater promise for both manufacturers and auto buyers alike.

Rising Demand from the wind energy sector

Glass Prepreg is used by the internationally growing wind energy industry in lightweight constructions, where it has been incorporated into various wind energy application for several years. The rotor blades and wind generation nacelles are built on composites constructed from Glass Prepreg compatible with resin. Fiberglass composite components require high strength at low weight, so that longer and more powerful rotor blades can be manufactured in a cost-effective manner for larger wind turbines. Fiberglass strengthened rotor blades can achieve rotor blade lengths of up to 80 meters / 262 feet and are used on land and offshore windmill systems in different settings.

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Challenges –Glass Prepreg Market

Health effects of Glass Prepreg

Airborne glass particles can be inhaled. The propensity for inhaled glass fibers to cause some health danger, though, depends on their “breathability,” i.e. their capacity to reach lower regions of the lung. Nonetheless, the basic criterion of a chemical health and safety evaluation is to decide if the drug can induce respiratory cancer through respiration. Glass Prepreg products may cause skin and mucous membranes itching due to the mechanical abrasion effect of fibers. People working can feel transient upper respiratory tract irritation when adequate quantity of glass fiber is released into the air during fabrication and handling. The upper respiratory pain, like skin burning, is a chemical response to the fibers.

Market Landscape

Technology launches, acquisitions and R&D activitiesare key strategies adopted by players in the Glass Prepreg Market. Major players in the Glass Prepreg Market are Axiom Material, Cytec Solvay Group, Gurit, Hexcel Corporation, Isola Group, Krempel Gmbh, Lingol Corporation, Park Electrochemical Corp, Plastic Reinforcement Fabric Ltd, and Sunrez Corporation among others.

Acquisitions/Technology Launches

In 2016, The Gurit SmartcureTM epoxy Prepreg press molding device, which was officially unveiled at Composites Europe 2016, was primarily developed to satisfy the high volume production needs of the automotive industry.

Key Takeaways

Asia-Pacific dominates the glass prepreg market due to increase in impregnated glass cables used in vehicle application for reinforcing the rubber drive belts.

Prepreg has wide range of benefits, such as high strength properties, good uniformity and repeatability, less mess and less waste, less healing time and better cosmetics.

Increasing use of glass Prepreg market in wind turbine applications such as rotor blades in order to reduce its weight will further boost the glass prepreg market in the forecast period.

With the World Health Organization declaring the COVID-19 outbreak a pandemic, automotive industry is being significantly affected as most of the countries have issued “stay at home guidance” i.e., lockdown due to which manufacturing plants are being shuttered around the world. This factor is limiting glass Prepreg market growth in current situation.

Related Reports:

A. Non-Woven Glass Fiber Prepreg Market

B. Storefront Glass Market

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