Spain Brazil Russia France Germany China Korea Japan

Artificial Intelligence driven Marketing Communications

Feb 12, 2020 11:00 AM ET

Superior Properties Offered by Tow Prepreg Market




iCrowd Newswire - Feb 12, 2020

According to the new market research report Tow Prepreg Market by Fiber Type (Carbon, Glass), Resin Type (Epoxy, Phenolic), Application (Pressure Vessel, Scuba Tanks, Oxygen Cylinders), End-use Industry, Region (Europe, North America, APAC, MEA, Latin America) – Global Forecast to 2024″, The tow prepreg market is expected to grow from USD 305 million in 2019 to USD 492 million by 2024, at a CAGR of 10.0% during the forecast period. The tow prepreg market is growing due to its increasing demand from the aerospace & defense, automotive & transportation, and oil & gas industries. Boeing and Airbus have increased the production of commercial aircraft to cater to the rising airline passenger traffic. There is increasing use of tow prepreg in electric cars and aircraft.

Don’t miss out on business opportunities in Tow Prepreg Market

Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=73680934

The tow prepreg market size is estimated to be USD 305 million in 2019 and is projected to reach USD 492 million by 2024, at a CAGR of 10.0% during the forecast period. The new developments across the tow prepreg value chain such as new product development by various players, new players entering the market with low-cost tow prepregs, and demand from aerospace and automotive industries are bolstering the market growth, globally.

The  growth of the market is attributed to the increasing demand for lightweight and high-strength materials such as tow prepreg in the aerospace & defense and automotive & transportation industries. The use of such materials in these industries enhances fuel efficiency and safety. There is rising number of collaborations between aerospace & defense and automotive & transportation companies and tow prepreg manufacturers for new projects, which is supporting the growth of the market. In June 2018, Airbus and Bombardier (Quebec, Canada) entered into a partnership for the production of the C Series aircraft. Agreements have been signed between research organizations and tow prepreg manufacturers to manufacture low-cost and high strength tow prepregs for the automotive industry.

Browse and in-depth TOC on “Tow Prepreg Market – Global Forecast to 2024”

82 – Tables
37 – Figures
122 – Pages

View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/tow-prepreg-market-73680934.html

The high modulus of tow prepregs has resulted in its widespread use across numerous industries, including aerospace & defense, automotive & transportation, sports & recreational, and oil & gas. The increasing penetration of tow prepreg as a replacement to traditional materials in these industries, coupled with the advancement of these industries, is set to result in the significant demand for tow prepreg over the next few years. The tow prepreg market is expected to grow from USD 305 million in 2019 to USD 492 million by 2029, at a CAGR of 10.0% during the forecast period.

Over the past few years, companies have strengthened their position in the global tow prepreg market by adopting strategies such as new product development, and partnership.

From 2015 to 2019, new product development and partnership were the key strategies adopted by the market players to maintain growth in the global tow prepreg market. These strategies accounted for 30% and 16%, respectively, of the overall strategies adopted between 2015 and 2019. The market players concentrated mainly on consolidation through new product development and partnership with the focus on increasing their market shares and enhancing their sustainability.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=73680934

TCR Composites (US), SGL Carbon SE (Germany), and Teijin Limited (Japan) are the major players in the tow prepreg market. SGL Carbon SE (Germany) is one of the leading companies and the largest contributor to the growth of the global tow prepreg market. It accounted for the largest share of all the development activities undertaken in the global market between 2015 and 2019. As a part of its growth strategy, the company focused on new product development to meet the requirements of end-use industries, globally. In March 2015, the company introduced tow prepreg under the brand name, SIGRAPREG TowPregs. This product offers superior mechanical properties and permits uniform lay-up.

TCR Composites (US) is another leading manufacturer of tow prepregs and a known brand in the prepregs business. The product portfolio of the company includes prepreg tow, prepreg fabrics, prepreg braided sleeves, and prepreg uni-directional tapes. As a part of its growth strategy, the company procures fibers from various manufacturers, such as Hexcel Corporation, DowAksa, and Toray Industries, Inc., to manufacture tow prepregs as per the need of end users. This availability of different grades of tow prepregs gives an edge to the company over others in offering highly customized products in comparison to other players.

Browse Adjacent Markets @ Chemicals Market Research Reports & Consulting

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/tow-prepreg-market.asp
Visit Our Website: https://www.marketsandmarkets.com

 

 

 



Contact Information:

MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: [email protected]






Keywords:    Tow Prepreg Market

Tags:    Extended Distribution, Wire, Research Newswire, English