The global glass prepreg market is expected to witness a CAGR of 7.45% during the forecast period of 2018–2023, driven by the rising demand for airplanes in the Asia-Pacific region. The growing usage of glass prepreg as an asbestos substitute is also likely to stimulate the market.
Airplanes Demand Driving the Market
The global airline passenger traffic is expected to grow at 4.8% year-on-year. As the aviation industry grows, it is likely to drive the demand for airplanes. By 2035, China’s domestic air traffic is expected to overtake North America’s traffic to become the world’s largest. Asia-Pacific alone is expecting the demand of around 15,130 new airplanes till 2035, thereby contributing about 40% of the world’s airplane demand. As glass prepreg is a cost-effective solution to their metal counterparts, it is likely that increasing demand for airplanes will stimulate the glass prepreg market over the coming years.
Aerospace and Defense Dominate End-user Industry
The global glass prepreg market, based on the end-user industry, can be broadly segmented into aerospace and defense, automotive, wind turbine, sports and leisure, and others. The aerospace and defense industry is expected to dominate the glass prepreg market, owing to increased demand of airplanes across Asia-Pacific and the Middle-East & Africa regions. Glass fiber reinforced plastic (GFRP) finds extensive use in aviation industry where lightness is important. The new agreements and construction plans in Asia-Pacific are coming up to meet the growing demand for travel. 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.
Automotive Manufacturing Drives the Asia-Pacific Market
The market, based on the geographic area, is segmented into Asia-Pacific, North America, Europe, South America, and the Middle East & Africa. In terms of consumption in 2017, North America held a significant market share, followed by Asia-Pacific and Europe. Asia-Pacific is expected to be an emerging market during the forecast period with the increase in automotive and airplanes manufacturing activities in China, India, and ASEAN countries. Middle-East & Africa is expected to have a significant growth rate, owing to increasing investments in wind power projects.
Major players are Cytec Solvay Group, Hexcel Corporation, Gurit, Plastic Reinforcement Fabrics Ltd, and ACP, among others.
Reason to Purchase the Report
- To understand the impact of various resins on the market.
- Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
- To understand the dominating resin type and end-user industry in the market.
- Identify the countries expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support along with the Market Estimate sheet (in Excel).
Customization of the Report
- This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
1. Introduction
1.1 Scope of the Report
1.2 Research Phases
1.3 Study Deliverables
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Raw Material Analysis
4. Market Dynamics
4.1 Drivers
4.1.1 Rising Airplanes Demand, Especially in Asia-Pacific Region
4.1.2 Growing Usage as Asbestos Substitute
4.1.3 Increasing Market Adoption of Fiber Plastics
4.2 Restraints
4.2.1 Carcinogenic Effect of Glass Prepreg
4.2.2 Cost Prohibitive
4.3 Opportunities
4.3.1 Development of New Resin Technology to Reduce Curing Process
5. Market Segmentation and Analysis
5.1 By Resin Type
5.1.1 Thermosetting
5.1.2 Thermoplastic
5.2 By End-user Industry
5.2.1 Aerospace and Defense
5.2.2 Automotive
5.2.3 Wind Turbine
5.2.4 Sports & Leisure
5.2.5 Others
6. Regional Market Analysis
6.1 North America
6.1.1 United States
6.1.2 Canada
6.1.3 Mexico
6.1.4 Rest of North America
6.2 Europe
6.2.1 Germany
6.2.2 United Kingdom
6.2.3 Italy
6.2.4 France
6.2.5 Nordic Countries
6.2.6 Rest of Europe
6.3 Asia-Pacific
6.3.1 China
6.3.2 India
6.3.3 Japan
6.3.4 South Korea
6.3.5 Rest of Asia-Pacific
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Qatar
6.5.4 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.1 ACP
8.2 Axiom Materials
8.3 Cytec Solvay Group
8.4 Gurit
8.5 Hexcel Corporation
8.6 Isola Group
8.7 Krempel GmbH
8.8 Lingol Corporation
8.9 Park Electrochemical Corp.
8.10 Plastic Reinforcement Fabrics Ltd
8.11 SGL Group - The Carbon Company
8.12 Sunrez Corporation
8.13 Teijin Limited
*List not Exhaustive
9. Disclaimer
**Subject to Availability of Public Domain
