Aerospace Prepreg Market by Platform Type, by Fiber Type, by Resin Type, by From Type, by Curing Type, and by Region, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025
|出版日期||內容資訊||英文 308 Pages
|航空預浸料的全球市場：平台類型，纖維類型，樹脂類型，泡沫類型，硬化類型，區域預測，競爭分析，增長機會：2020-2025 Aerospace Prepreg Market by Platform Type, by Fiber Type, by Resin Type, by From Type, by Curing Type, and by Region, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025|
|出版日期: 2020年09月13日||內容資訊: 英文 308 Pages||
Aerospace Prepreg Market by Platform Type (Commercial Aircraft, Military Aircraft, General Aviation, Spacecraft, UAV, Regional Aircraft), by Fiber Type (Carbon Prepreg, Glass Prepreg, Aramid Prepreg), by Resin Type (Epoxy Prepreg, Polyimide Prepreg, BMI Prepreg, PPS Prepreg, Cyanate Ester Prepreg, PEEK Prepreg, PEI Prepreg, Other Prepregs), by From Type (Unidirectional Prepreg, Fabric Prepreg), by Curing Type (Autoclave, Out of Autoclave, Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.
This strategic assessment report provides a comprehensive analysis that reflects today's aerospace prepreg market realities and future market possibilities for the forecast period of 2020 to 2025. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for prepreg in the aerospace industry at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data/information provided in the report can play a crucial role for market participants as well as investors in formulating short-term as well as long-term growth strategies.
Composite materials have undertaken a ground-breaking journey across industries. Inevitably, the aerospace industry has been taking the lead in composite material adoption. The penetration of the material has reached up to 53% of the total structural weight of the next-generation aircraft programs, such as A350XWB and B787, to make the aircraft lightweight yet durable with an ultimate aim to enhance fuel efficiency.
Prepreg is an intermediate material and is one of the most common forms of composite materials in which the reinforcement material is pre-impregnated with either thermoplastic or thermoset resin system in a predefined ratio. It is one of the most preferred materials used for fabricating different parts in the aerospace industry as it enables consistent resin/matrix ratio in the finished product, thus, delivering uniform mechanical and physical properties across different sections of the part.
The grounding of the B737 max ended the aerospace industry's 16-year boon. The tremor of B737 max grounding had been felt across the supply chain, many business segments registered a massive plunge in their sales. However, the aerospace prepreg market was incredibly efficacious in managing itself from the impact of the B737 max grounding in the year 2019. The key whys and wherefores behind this being the content of the low composite on B737MAX coupled with the rose in the production of composite-rich aircraft, B787 that neutralized the ripple effect of the B737 max grounding.
In 2020, the rapid spread of COVID-19 has completely shaken the aerospace industry, bringing in catastrophic changes including plunging RPKs, reducing production rates, and massive disruption in the supply chain. The aerospace prepreg market is likely to mirror the industry's struggle, marking a colossal decline of over 25% in 2019-2020, completely overthrowing the growth trajectory followed till 2019, crashing the hopes of another successful year with flourishing aerospace prepreg demand.
However, the long-term scenario still seems positive with the aerospace industry gradually getting back on track, reviving the prepreg demand from 2021 onwards, with an astounding CAGR of 7.5% during the forecast period, to reach a value of US$ 3.7 Billion by 2025. Several factors rejuvenate the demand for aerospace prepregs in the long-term are rebounding commercial aircraft deliveries, aging aircraft fleet size, and rapidly increasing penetration of composites in current and upcoming aircraft programs.
The market for aerospace prepreg is gradually consolidating as major companies recorded a fair number of mergers & acquisitions to quickly gain the leading position as well as to tap the growing opportunities in the market. For instance, Solvay S.A. acquired Cytec Industries Inc. at a total purchase price of approximately US$ 5.5 Billion, landing at the second-most dominant position in the market. Similarly, in 2018, Toray, the world's largest carbon fiber manufacturer, acquired TenCate Advanced Composites Holding B.V. (TCAC), at an agreed purchase price of €930 million. TCAC was the leading supplier of carbon fiber-reinforced thermoplastic tapes and high heat-resistant thermoset prepregs to the aerospace industry.
Based on the platform type, Stratview Research has segmented the market as commercial aircraft, military aircraft, regional aircraft, general aviation, spacecraft, and UAVs. Despite logging a massive decline in 2020, commercial aircraft is expected to maintain its indubitable lead in the market followed by a quick recovery in the year ahead. Both Boeing and Airbus have huge order backlogs of 12,724 aircraft (Airbus: 7,539 and Boeing: 5,185) as of July 2020. Irkut and COMAC, the newcomers in the commercial aerospace industry, also hold excellent order backlogs for their upcoming commercial aircraft programs, which is likely to further substantiate the demand for prepreg in the commercial aircraft segment in the long run. Though UAV occupies a low share in the market, it is likely to offer consequential growth opportunities in the next five years.
Based on the resin type, we have segmented the market as epoxy prepreg, BMI prepreg, cyanate ester prepreg, PI prepreg, PPS prepreg, PEEK prepreg, PEI prepreg, and others. Epoxy prepreg is expected to remain the most dominant resin system in the market, whereas BMI prepreg to rebound at the fastest rate post-pandemic during the forecast period. Epoxy resins bond well with reinforcements such as carbon fiber and glass fiber. Also, the resin system offers excellent interlaminar strength, excellent mechanical properties, good chemical resistance, and high electrical insulation, which make them a preferred resin system for a wide array of applications including fuselage, wings, control surfaces, as well as interior applications.
Based on the curing type, the market is segmented as autoclave, out-of-autoclave, and others. Autoclave is expected to remain the dominant curing method in the market during the forecast period. Autoclave curing has decades of excellent track record in the aerospace composites and is projected to remain one of the most vital curing systems in the industry. Autoclave curing leads to an excellent surface finish with low-void content as well as its high pressure ensures good mechanical properties. However, there has been a gradual shift towards out-of-autoclave prepreg in the industry, due to no need for expensive equipment, faster cure, and no-size limitation.
In terms of regions, North America is expected to remain the largest market for aerospace prepreg during the forecast period. The USA is the growth engine of the region's market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators. Most of the major prepreg manufacturers have their presence in the region to address the emergent needs of the OEMs.
With the relatively low decline combined with the fastest recovery, Asia-Pacific is likely to remain the most attractive region, offering a pool of opportunities in the long-term. Other key factors likely to cause a stir in the region's market are the opening of assembly plants of Boeing and Airbus in China and upcoming indigenous commercial and regional aircraft. India is to be the new growth engine, actively developing policies to welcome companies willing to move away from China.
The supply chain of this market comprises raw material suppliers, prepreggers, tier players, aircraft OEMs, airline companies, aircraft leasing companies, and MRO companies. The key players in the aerospace prepreg market are Hexcel Corporation, Solvay S.A., Toray Industries, Teijin Group, and Gurit Holdings, AG. The pandemic has compelled Prepreggers to build different strategies for the short term with an aim to battle the current distressing time. However, the execution of mergers & acquisitions, development of new applications, and advancements in prepregs have always been considered the key strategies in the market in the long run.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research's internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report: