Global Prepreg Market forecast period 2021-2027

1. Global Prepreg Market

2. The global prepreg market was worth USD 7.8 billion in 2020 and is further projected to reach USD 11.2 billion by 2027, at a CAGR of 5.9% during the forecast period (2021-2027). The rising demand for lightweight components from the electronics, automotive, aerospace & defense, wind energy, and sporting goods industries, etc. is the key driver for the global prepreg market. In the aerospace and wind energy industries, the replacement of traditional metallic components with lightweight prepreg-based components to boost fuel economy and reduce weight is offering even more lucrative potential for the global prepreg market. Prepreg is composed consisting of a matrix (or resin) and reinforcing fiber. It adds stiffness and strength to composites, as well as good thermal, electrical, and chemical properties. It offers significant weight reductions by replacing heavy metallic components. The global prepreg market seeks to meet the high component demands of the aerospace and defense, electronics, automotive, and wind energy industries. These specially developed resin matrix systems reinforced with man-made fibers like carbon, glass, and aramid can be further classified based on production techniques, resin type, and so on.

3. Growth Drivers Upsurging demands from the wind energy industry to drive the global prepreg market Due to rising pollution and concerns for environmental health with traditional energy production methods, the global prepreg market has seen significant demand from the wind energy industry. The wind energy business eventually drew many countries and industries to focus on more environmentally-friendly energy production methods. Furthermore, favorable legislative support for renewable capacity expansion, as well as minimal noise pollution from wind turbine technology, is driving the market growth. Increasing Demands from The Aerospace & Defense Industry to Drive the Global Prepreg Market The aerospace and defense industry relies heavily on the global prepreg market for lightweight components and materials. The growth of this market is due to advancements in 3D printing technology for the fabrication of lightweight aircraft parts, government initiatives, and the key players investing extensively in R&D for aircraft manufacturing. Sample Copy of the Report :https://www.blueweaveconsulting.com/india-biscuits-market-bwc19105/report-sample