Market Size of Glass Prepreg Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Glass Prepreg Market Analysis
The global glass prepreg market is expected to grow at with a CAGR greater than 7% during the forecast period. One of the major factors driving the market is the increasing demand for airplanes in the Asia-Pacific region. However, declining automotive industry is hindering the growth of the market studied.
- Increasing usage of glass prepreg as a substitute for asbestos is another major driver for the market studied.
- Asia-Pacific is expected to witness the growth rate during the forecast period.
- Among the end-user industries, aerospace snd defense is likely to account for the highest market share during the forecast period.
Glass Prepreg Industry Segmentation
The glass prepreg market report includes:
| Resin Type | |
| Thermosetting | |
| Thermoplastic |
| End-user Industry | |
| Aerospace and Defense | |
| Automotive | |
| Wind Turbine | |
| Sports and Leisure | |
| Other End-user Industries |
| Geography | ||||||||
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Glass Prepreg Market Size Summary
The global glass prepreg market is poised for significant growth, driven primarily by the increasing demand for airplanes, particularly in the Asia-Pacific region. This demand is fueled by the expansion of the aerospace and defense sectors, which currently hold the largest market share. The use of glass fiber reinforced plastic (GFRP) in aviation is gaining traction due to its lightweight properties, essential for enhancing fuel efficiency and performance. The market is also benefiting from the shift towards using glass prepreg as a substitute for asbestos, aligning with global trends towards safer and more sustainable materials. However, the market faces challenges from the declining automotive industry, which could hinder its overall growth trajectory.
Asia-Pacific is expected to experience the highest growth rate in the glass prepreg market, driven by robust demand from countries like China, India, and Japan. The region's aerospace and defense industries are expanding, with major companies like Boeing establishing manufacturing facilities to cater to the rising global air travel demand. Despite this growth, the market's expansion is somewhat tempered by the downturn in automotive production in several Asian countries. The market is moderately consolidated, with key players such as Solvay, Hexcel Corporation, SGL Carbon, TEIJIN LIMITED, and Plastic Reinforcement Fabrics Ltd holding significant shares. These companies are pivotal in shaping the competitive landscape and driving innovation within the industry.
Glass Prepreg Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand for Airplanes in the Asia-Pacific Region
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1.1.2 Growing Usage as a Substitute for Asbestos
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1.1.3 Others Drivers
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1.2 Restraints
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1.2.1 Carcinogenic Effect of Glass Prepreg
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1.2.2 Impact of COVID-19 Pandemic
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1.2.3 Other Restraints
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1.3 Industry Value-chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Resin Type
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2.1.1 Thermosetting
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2.1.2 Thermoplastic
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2.2 End-user Industry
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2.2.1 Aerospace and Defense
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2.2.2 Automotive
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2.2.3 Wind Turbine
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2.2.4 Sports and Leisure
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2.2.5 Other End-user Industries
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 ASEAN Countries
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2.3.1.6 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Glass Prepreg Market Size FAQs
What is the current Glass Prepreg Market size?
The Glass Prepreg Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Glass Prepreg Market?
Solvay, Hexcel Corporation, SGL Carbon, TEIJIN LIMITED and Plastic Reinforcement Fabrics Ltd are the major companies operating in the Glass Prepreg Market.
