Popularity of prepreg has grown largely in the past couple of years and acts as a building block of flourishing composites landscape. Prepreg helps in pre-impregnating composites fibers wherein specialty resins remain the key sales driver of prepreg. Moreover, it plays the crucial role and ensures uniform distribution of fibers and resins throughout the composites framework. Growing application of prepreg in day to day has also substantially grown as it is widely used in different industries.
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Some of the key industries in which prepreg are used vastly are automotive industry, sporting goods, traditional defense, growing industrial ecosystems, and others. In addition, leading industry players are also making significant efforts to provide advanced products made by prepreg. For example, Park Electrochemical Corp. (NYSE-PKE) in 2018 launched RadarWave – a new type of prepreg material used in manufacturing advanced radome systems that are used in defense and aerospace industry. This material is high cost effective as compared to traditional variants and is backed by enhanced functionalities.
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Asia Pacific to Lead Global Prepreg Market Due to Rapidly Growing Aerospace and Defense Industry
Among the various regions across the globe, the demand for prepreg is largely seen in Asia Pacific due to the growing aerospace and defense industry in this region. India and China are going to play the significant role in the expansion of this market. Rising investment in the aerospace and defense sector in these countries and rapid growth in wind energy are the key factors driving the growth in this market in Asia Pacific. The consumption information of prepreg in the above-mentioned region has grown substantially, due to extraordinary growth of multiple industries between wind energy and aerospace & defense. Considering all these factors the global prepreg market is expected to grow at a rapid rate in the near future.