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According to the new market research report “Tow Prepreg Market by Resin Type (Epoxy, Phenolic), Fiber Type (Carbon, Glass), Application (Pressure Vessels, Scuba Tanks, Oxygen Cylinders), End-Use Industry, and Region (North America, Europe, APAC, MEA, & Latin America) – Global Forecast to 2026″, is expected to grow from USD 250 million in 2021 to USD 440 million by 2026, at a CAGR of 12.0% during the forecast period.
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Tow prepregs are widely used in the manufacturing of type-3 and type-4 cylinders. These cylinders offer numerous advantages over other cylinders regarding weight reduction, longer lifespan, and excellent tensile strength. A pressure vessel is primarily used in the oil & gas industry. However, since the past few years, aerospace & defense and automotive & transportation are also shifting towards the use of composite pressure vessels, which in turn is augmenting the demand for tow prepreg in the pressure vessels application.
The tow prepreg pressure vessels consist of a thin, non-structural linear wrapped in fiber composite designed to hold fluid under pressure. In the oil & gas industry, pressure vessels are used in both upstream and downstream operations. The growing use of these vessels in the oil & gas and other chemical industries is driving the market.
Browse and in-depth TOC on “Tow Prepreg Market – Global Forecast to 2026”
254 – Tables
48 – Figures
233 – Pages
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Tow prepreg (also referred to as towpreg) is a form of prepreg made using continuous fibers such as carbon, glass, and others. It is generally used as a material for the filament winding process to produce composite structures. Moreover, these tow prepregs can be used in various industries, including automotive & transportation, aerospace & defense, oil & gas, industrial, and sports & recreational.
Tow prepreg offers numerous advantages over the wet winding process, making it highly useful for composite manufacturers. These are used in manufacturing pressure vessels, scuba tanks, oxygen cylinders, marine masts, leaf springs, and other components. Led by strong end-user demand, the tow prepreg industry is growing at a rapid pace. However, amidst the global COVID-19 pandemic, the demand for Tow prepreg from the above-mentioned industries is expected to show a sharp decline in 2020 from 2019. The global tow prepreg market size is projected to grow from USD 250 million in 2021 to USD 440 million by 2026, at a compound annual growth rate (CAGR) of 12.0% during the forecast period.
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ENEOS Holdings, Inc., formerly JXTG Holdings Inc, is a Japanese company mainly with three business segments—energy, oil and natural gas exploration and production, and metal. The energy segment is engaged in refining and selling petroleum, providing lubricants, basic chemicals, functional chemicals, gas, coals, electricity, new energy, other products, and the investment business.
Teijin Limited combines three business domains of materials, healthcare, and IT. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, films, resins & plastics processing, polyester fibers, products converting, healthcare, and IT. The company has production facilities in Japan, Germany, and the US.
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Research Insights: https://www.marketsandmarkets.com/ResearchInsight/tow-prepreg-market.asp
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