The Global Glass Prepreg Market has been estimated at USD XXXX million in 2016 and is projected to reach USD XXX million by 2022, at a CAGR of X.X% during the forecast period from 2016 to 2022. The global Glass Prepreg business is expected to grow moderately over the following years. Glass Prepreg is the sheet of Glass fibre woven along with resins. It resembles a cloth woven with Glass fibres and is generally rolled into sheets. They are used in making components lighter. They are used as a substitute for steel and asbestos. They cost a slight premium over steel. Glass Prepreg is an intermediate good, as it is not utilised by the end consumer nor the raw material.
There exists a wide variety of potential and existing applications for Glass Prepregs. Glass Prepregs are used in aviation, automotive, sports goods, leisure equipment, electrical and electronics, Insulation, Piping, shipping and other industries. They are used wherever there is requirement for lightweight and require higher tensile strength. Automotive and Aviation form the major segment in terms of revenue, as Glass fibre usage is high in these segments. The Automotive Industry accounted for more than 17% share of the Global Glass Prepreg market in 2015.
The properties of being the commercially cheap, light and heat resistant available material drives the growth of this market. The market is expected to be driven by the huge investments in manufacturing sector, especially automotive and aviation. Glass fibre reinforced plastic (GFRP) being the lightest commercially material available, is used in manufacturing of propellers for windmills. GFRP components are finding their usage ever increasing in aviation and automotive applications where lightness is important. However, there is a fear of GFRP being a carcinogen, which is proven in some studies. Autoclave, that is used to cure the components made from prepreg and its maintenance costs add to final cost of the manufacturing of final components.
The market has been segmented by resin type and industrial sector. Based on resin type the market is segmented into thermoplastic and thermosetting. Thermosetting forms the major market. Based on industry, the market is segmented into aviation, automotive, electronics, insulation, piping, shipping, sports and others. Automotive occupies the major market share. Lightweight materials are very important in automotive industry for efficient operations. Glass Prepregs are majorly used in making components in this industry to make components that replace steel parts.
The market has also been geographically segmented into APAC, North America, Europe, South America, and MEA. In terms of consumption in 2015, North America led the market with a share of 24%. It was followed by APAC and Europe. Automotive companies are the largest consumers of the Glass Fibre in the world and are responsible for high market share of North America, which have high production of automobiles. Asia Pacific is fast becoming an automotive hub and uses GFRP extensively for automotive bodies and other components.
Company profiles of the major Glass Prepreg manufacturers have been discussed in this study. They are ACP Composites, Composite Holding Company, Mitsubishi Rayon Co. Ltd., Gurit Holding Ag, NACCO Aerospace, Royal Ten Cate N.V., Sunrez, Toray Industries, Inc., Zyvex Technologies etc.
Key Deliverables in the Study