Report scope & Overview:
Tow Prepreg Market Size was valued at USD 314.71 million in 2022, and expected to reach USD 790.43 million by 2030, and grow at a CAGR of 12.2% over the forecast period 2023-2030.
Tow prepregs are made of strands of glass fibre, carbon, and a binding material called duro plastic resin. The growth of the tow prepreg market is driven by the increasing use of tow prepregs in a wide range of industries and the rising demand for lightweight and cost-effective materials. During the forecast period, the demand for tow prepregs is also expected to rise due to rapid urbanisation, economic growth, and large investments in research and development.
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More and more cars and aeroplanes are being made with tow prepreg
Advantages over the process of wet-winding
The oil and gas industry is increasing its demand for tow prepregs
High cost of processing and making
Demand from emerging economies is rising
Impact of Covid-19:
Due to the COVID-19 pandemic, the market for tow prepreg is expected to go down in 2020. The entire world has been hurt by this deadly virus, especially the APAC and European regions. To stop this virus from spreading even more, businesses have shut down their operations and factories, and the government has put limits on building. Because of this, the amount of Tow prepreg used in all applications has gone down.
COVID-19 and other regulations, like long processes for getting permits, have slowed down the production of end-use industries, which has decreased the need for tow prepreg. But the demand for tow prepreg should rise again in 2021. China was the first country to be affected by COVID-19, which messed up the global tow prepreg supply chain and slowed down manufacturing in a number of industries that use tow prepreg. But the aerospace and defence, automotive and transportation, and other industries have started making things again and are expected to get back to normal soon. This has caused the demand for tow prepreg to go up.
By Resin Type:
By Fiber Type:
By End-Use Industry:
Aerospace & Defense
Automotive & Transportation
Sports & Recreational
Oil & Gas
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The tow prepreg market is expected to be one of the largest in Europe. This is because BMW, BAE Systems, Airbus, and other large manufacturers in the area make cars and aeroplanes. The growth of the aerospace, wind energy, automotive, and military industries in France and Germany is also driving the market in Europe. Germany has the largest market for cars in Europe. In these countries, the government and environmental groups are putting a lot of pressure on manufacturers to reduce carbon emissions. Because of this, OEMs are using more and more tow prepregs in cars.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
TCR Composites, Inc., SGL Carbon SE, HEXCEL Corporation, VITECH COMPOSITES., ARISAWA Mfg. Co., Ltd., Mitsubishi Chemical Holdings Corporation, JXTG Holdings, Inc., Red Composites Ltd., Teijin Limited, Porcher Industries, and other players.
Mitsubishi Chemical Holdings Corporation-Company Financial Analysis
|Market Size in 2022||US$ 314.71 Million|
Market Size by 2030
|US$ 790.43 Million|
|CAGR||CAGR of 12.2% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Resin Type (Epoxy Resin, Phenolic Resin, Others)
• By Fiber Type (Carbon Fiber, Glass Fiber, Others)
• By Application (Pressure Vessels, Scuba Tanks, Oxygen Cylinders, Others)
• By End-Use Industry (Aerospace & Defense, Automotive & Transportation, Sports & Recreational, Oil & Gas, Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||TCR Composites, Inc., SGL Carbon SE, HEXCEL Corporation, VITECH COMPOSITES., ARISAWA Mfg. Co., Ltd., Mitsubishi Chemical Holdings Corporation, JXTG Holdings, Inc., Red Composites Ltd., Teijin Limited, Porcher Industries, and other players.|
|DRIVERS||• More and more cars and aeroplanes are being made with tow prepreg.
• Advantages over the process of wet-winding
• The oil and gas industry is increasing its demand for tow prepregs.
|Restraints||• High cost of processing and making|
Ans: More and more cars and aeroplanes are being made with tow prepreg, Advantages over the process of wet-winding and The oil and gas industry is increasing its demand for tow prepregs are the drivers for Tow Prepreg Market.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: TCR Composites, Inc., SGL Carbon SE, HEXCEL Corporation, VITECH COMPOSITES., ARISAWA Mfg. Co., Ltd., Mitsubishi Chemical Holdings Corporation, JXTG Holdings, Inc., Red Composites Ltd., Teijin Limited, Porcher Industries are the major key players of Tow Prepreg Market.
Ans: High cost of processing and making are the restraints for Tow Prepreg Market.
Ans: Tow Prepreg Market Size was valued at USD 280.5 million in 2021, and expected to reach USD 627.88 million by 2028, and grow at a CAGR of 12.2 % over the forecast period 2022-2028.
Table of Content:
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
184.108.40.206 United Kingdom
220.127.116.11 South Korea
18.104.22.168 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Tow Prepreg Market Segment, By Resin Type
8.1 Epoxy Resin
8.2 Phenolic Resin
9.Tow Prepreg Market Segment, By Fiber Type
9.1 Carbon Fiber
9.2 Glass Fiber
10.Tow Prepreg Market Segment, By Application
10.1 Pressure Vessels
10.2 Scuba Tanks
10.3 Oxygen Cylinders
11.Tow Prepreg Market Segment, By End-Use Industry
11.1 Aerospace & Defense
11.2 Automotive & Transportation
11.3 Sports & Recreational
11.4 Oil & Gas
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profile
13.1 TCR Composites, Inc.
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 SGL Carbon SE
13.3 HEXCEL Corporation
13.4 VITECH COMPOSITES.
13.5 ARISAWA Mfg. Co., Ltd.
13.6 Mitsubishi Chemical Holdings Corporation
13.7 JXTG Holdings, Inc.
13.8 Red Composites Ltd.
13.9 Teijin Limited
13.10 Porcher Industries
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
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