The prepreg market share in North America is expected to grow by USD 955.83 million, accelerating at a CAGR of 6.61% during the forecast period. The high demand for composites from the automotive sector is notably driving market growth. However, the key factor impeding prepreg market growth in North America is that prepregs are cost-prohibitive. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
Prepreg Market Analysis in North America 2021-2025: View the Free Sample Report
The market is segmented by type (carbon fiber, glass fiber, and aramid fiber), application (aerospace and defense, wind energy, automotive, and others), and geography (the US and Canada).
Growth by the carbon fiber segment will be significant during the forecast period. The increasing use of carbon fiber prepregs in the aerospace and defense, wind energy, sports, and automotive sectors will drive the prepreg market growth in North America. The US has been exhibiting a significant growth rate for prepreg market vendors in North America. Factors such as increased government spending in the aerospace and defense sectors in the US are accelerating the prepreg market growth in North America.
This report provides an accurate prediction of the contribution of all the segments to the growth of the prepreg market size in North America. In addition, the high demand for composites from the automotive sector will be a significant factor in driving the growth of the prepreg market in North America.
Technavio's research report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable marketers to assess their play in the market and plan for growth opportunities.
The market is fragmented due to the presence of several players. Celanese Corp., Gurit Holding AG, Hexcel Corp., Kaman Corp., Mitsubishi Chemical Holdings Corp., Park Aerospace Corp., SGL Carbon SE, Solvay SA, Toray Industries Inc., and Yokohama Rubber Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Technavio custom reports provide market insights at the global and regional levels along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations. Download the Free PDF Sample Report
