Non-Woven Glass Fiber Prepreg Market - Forecast(2022 - 2027)

Report Code: CMR 49533 Report Format: PDF + Excel

Non-Woven Glass Fiber Prepreg Market Overview

The non-woven glass fiber prepreg market size is forecast to reach US$956.3 million by 2027 after growing at a CAGR of 7.1% during 2022-2027. Non-woven glass fiber prepreg is a composite material used extensively for minimizing the weight of the components in several industries. The aerospace and defense sector accounts for one of the largest consumers of non-woven glass fiber prepreg as it helps in the manufacturing of lightweight aircraft parts. The aerospace and defense sector is expanding globally with the increase in production of aircraft and this will drive the growth of the market in the forecast period. For instance, according to the Commercial Market Outlook 2021-2040 report by Boeing, the global commercial fleet will touch 49,000 airplanes by 2040. Furthermore, non-woven glass fiber prepreg is widely used in the manufacturing of automobiles to achieve lightweight vehicle production. The automotive sector is booming with increasing production and sales of automobiles globally and this will drive the growth of the market in the forecast period. For instance, as per the data by the European Automobile Manufacturers Association, in October 2021, electrically-chargeable cars registration surged in the European Union with plug-in hybrids and battery electric cars nearly doubled their market share in the third quarter of 2021, accounting for 9.1% and 9.8% respectively, of the market. Thermoplastic prepreg is projected to witness the highest demand. Thermoset prepreg will witness significant demand in the forecast period. The high cost associated with prepreg fibers might hamper the market’s growth in the forecast period.

COVID-19 Impact

The non-woven glass fiber prepreg market was hampered by the COVID-19 pandemic with challenges such as supply chain disruption and the idling of factories that affected the non-woven glass fiber prepreg ecosystem. Market players modified their working patterns to maintain a standard businesses operation but struggled owing to the severity of the pandemic. For instance, according to Hexcel Corporation’s April 2020 report about its business update related to COVID-19, the company faced unprecedented challenges because of the COVID-19 pandemic. Hexcel had to cancel its merger agreement with Woodward Inc. due to economic uncertainties in both the industrial and aerospace sectors which resulted from the pandemic. The market witnessed decent growth towards the end of 2020 with demand for composite tooling surging in the automotive and aerospace industries. Going forward, the non-woven glass fiber prepreg market is expected to witness robust growth in the forecast period owing to the increasing demand for lightweight composite parts in end-use sectors like automotive, aerospace, and construction.

Report Coverage

The report: Non-Woven Glass Fiber Prepreg Market Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Non-Woven Glass Fiber Prepreg Industry. 

By Type: Thermoplastic Prepreg, Thermoset Prepreg
By End Use Industry: Automotive, Passenger Vehicle, Commercial Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Industrial, Sports, Aerospace and Defense, Wind Energy, Electrical and Electronics, Marine, Construction, Residential, Commercial, Office, Hotels and Restaurants, Concert Halls and Museums, Educational Institutes, Healthcare, Textile, Consumer Goods, Others
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa).

Key Takeaways:

  • Thermoplastic prepreg is leading the non-woven glass fiber prepreg market. This type of prepreg offers robust lightweight properties and high strength, making it a suitable choice in the market.
  • The automotive sector will drive the growth of the market in the forecast period. For instance, according to the June 2021 stats by European Automobile Manufacturers Association, registrations for passenger cars in the European region grew by 53.4% in May 2021 compared to May 2020.
  • The Asia-Pacific region is projected to witness the highest demand for non-woven glass fiber prepreg due to the regions’ booming automobile industry. As per the report by the China Association of Automobile Manufacturers, the annual sales volume of Chinese new energy vehicles is likely to reach 3 million units by 2025 compared to 1.2 million units in 2019.

Figure: Asia Pacific Non-Woven Glass Fiber Prepreg Market Revenue, 2021-2027 (US$ Billion)

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Non-Woven Glass Fiber Prepreg Market - By Type

Thermoplastic prepreg dominated the non-woven glass fiber prepreg market in 2021 and is growing at a CAGR of 7.4% in the forecast period. This type of prepregs provides high strength, stiffness, and excellent lightweight properties. Owing to such superior properties, the demand for thermoplastic prepreg consisting of glass fiber is increasing in the market. For instance, as per the September 2020 article by Innovation in Textiles, the use of thermoplastic prepregs is increasing in automobiles and many other industries. Such growing use of thermoplastic prepreg will increase its demand in the forecast period. The thermoset prepreg segment is projected to witness significant demand in the forecast period.

Non-Woven Glass Fiber Prepreg Market - By End Use Industry

The automobile industry dominated the non-woven glass fiber prepreg market in 2021 and is growing at a CAGR of 7.8% in the forecast period. Non-woven glass fiber prepregs are used extensively in the automobile industry for the manufacturing of lightweight automobile components. The automobile industry is booming globally with increasing production and sales and this will contribute to the growth of the market in the forecast period. For instance, according to the data by the China Association of Automobile Manufacturers, in September 2021, the production of passenger vehicles in China accounted for 1.767 million units, surging 18.1% month on month. Similarly, according to the July 2021 statistics by the European Automobile Manufacturers Association, the passenger car registrations in June 2021 surged with Germany witnessing the highest growth (+24.5%), followed by Spain (+17.1%). This massive boost in the automobile sector will augment the higher uses of non-woven glass fiber prepreg in the manufacturing of various lightweight auto components and this will contribute to the market’s growth in the forecast period. The aerospace and defense industry will drive the market’s growth significantly in the forecast period.

Non-Woven Glass Fiber Prepreg Market - By Geography

The Asia-Pacific region held the largest market share in the non-woven glass fiber prepreg market in 2021 with a market share of up to 34%. The high demand for non-woven glass fiber prepreg is attributed to the booming automobile sector in the region. For instance, according to the report by the India Brand Equity Foundation, sales in Indian passenger vehicles jumped as 261,633 units sold in April 2021, acquiring a market share of 12.9%. Similarly, as per the stats by the China Association of Automobile Manufacturers, in September 2021, the production of Chinese commercial vehicles accounted for 310000 units, increasing 35.5% month on month. Such massive growth in the region’s automobile industry will stimulate the higher uses of non-woven glass fiber prepreg in the production of several lightweight automobile parts and components. The North American region will witness significant demand for non-woven glass fiber prepreg due to the aerospace and defense industry in the region.

Non-Woven Glass Fiber Prepreg Market Drivers

The booming automobile industry will drive the market’s growth 

The automobile industry is one of the largest consumers of non-woven glass fiber prepreg. Non-woven glass fiber prepreg such as thermoplastic prepreg and thermoset prepreg finds their massive uses in the automobile industry in the production of lightweight automobile components. The automobile industry is booming globally with rising production and sales and this will drive the growth of the non-woven glass fiber prepreg market in the forecast period. For instance, as per the statistics by European Automobile Manufacturers Association, sales in electrically-chargeable vehicles increased as the segment accounted for 10.5% of total car sales in 2020 compared to 3% in 2019. Similarly, as per the August 2020 stats by the China Association of Automobile Manufacturers, the Chinese automobile industry is expected to stay on a progressive track in the forthcoming years with the New Energy Vehicles segment anticipated to witness the highest demand. Such massive progress in the automobile industry globally will amplify the higher uses of non-woven glass fiber prepreg in the manufacturing of lightweight automobile components, thereby contributing to the growth of the non-woven glass fiber prepreg market in the forecast period.

Expanding aerospace and defence sector will drive the market’s growth

Non-woven glass fiber prepreg is vastly associated with the aerospace and defense sector as this material helps in the manufacturing of lightweight aerospace components and improves aircraft fuel efficiency. The aerospace and defense sector expanding globally and this will contribute to the growth of the market. For instance, according to the November 2021 report by Airbus, the company projected demand of 39000 new passenger and freighter aircraft by 2040. Similarly, according to the 2021 Boeing Market Outlook report, the aerospace products and services that Boeing addresses are anticipated to reach a USD 9 trillion market over the next decade. Such huge expansion in the global aerospace and defense sector will increase the higher uses of non-woven glass fiber prepreg which will contribute to the market’s growth in the forecast period.

Non-Woven Glass Fiber Prepreg Market Challenges

High cost of prepreg fibers might affect the growth of the market

The manufacturing process and cost of prepreg fiber material is costly which makes the end product based on non-woven glass fiber prepreg also high and this might affect the market’s growth in the forecast period. As per the September 2020 journal by the International Journal of Engineering Research & Technology (IJERT), the cost of using prepreg materials in manufacturing wind turbines is high. The involvement of prepreg fibers can make the cost of non-woven glass fiber prepreg high and this might affect the non-woven glass fiber prepreg market’s growth in the forecast period.

Non-Woven Glass Fiber Prepreg Industry Outlook

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the non-woven glass fiber prepreg market. Major players in the non-woven glass fiber prepreg market are:

  1. Jushi Group Co., Ltd
  2. Johns Manville
  3. Owens Corning
  4. PPG Industries
  5. Hexcel Corporation
  6. SAERTEX GmbH & Co. KG
  7. Adfors
  8. Ahlstrom Oyj
  9. SGL Carbon
  10. Gurit
  11. Toray Advanced Composites
  12. Fibrtec Inc.
  13. Cannon Plastec
  14. C. A. Litzer Co., Inc.
  15. Jonam Composites Ltd
  16. Seartex
  17. Others

Acquisitions/Product Launches

In March 2021, US-based Composites One which deals with non-woven glass prepregs, announced the acquisition of process materials business from Solvay S.A. This acquisition will allow Composites One to expand its glass prepreg portfolio in the forecast period.

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1. Non-Woven Glass Fiber Prepreg Market- Market Overview
    1.1 Definitions and Scope
2. Non-Woven Glass Fiber Prepreg Market- Executive Summary
    2.1 Key Trends by Glass Fiber Type
    2.2 Key Trends by End Use Industry
    2.3 Key Trends by Geography
3. Non-Woven Glass Fiber Prepreg Market- Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Non-Woven Glass Fiber Prepreg Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Non-Woven Glass Fiber Prepreg Market– Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis - Major companies
6. Non-Woven Glass Fiber Prepreg Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of substitutes
7. Non-Woven Glass Fiber Prepreg Market-Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product/Market life cycle
    7.4 Distributors Analysis - Major Companies
8. Non-Woven Glass Fiber Prepreg Market– By Type (Market Size -US$ Million, Billion)
    8.1 Thermoplastic Prepreg
    8.2 Thermoset Prepreg
9. Non-Woven Glass Fiber Prepreg Market– By End Use Industry (Market Size -US$ Million, Billion)
    9.1 Automotive
        9.1.1 Passenger Vehicle
        9.1.2 Commercial Vehicle
        9.1.2.1 Light Commercial Vehicle
        9.1.2.2 Heavy Commercial Vehicle
    9.2 Industrial
    9.3 Sports
    9.4 Aerospace and Defense
    9.5 Wind Energy
    9.6 Electrical and Electronics
    9.7 Marine
    9.8 Construction
        9.8.1 Residential
        9.8.2 Commercial
            9.8.2.1 Office
            9.8.2.2 Hotels and Restaurants
            9.8.2.3 Concert Halls and Museums
            9.8.2.4 Educational Institutes
            9.8.2.5 Others
    9.9 Healthcare
    9.10 Textile
    9.11 Consumer Goods
    9.12 Others
10. Non-Woven Glass Fiber Prepreg Market - By Geography (Market Size -US$ Million / Billion)
    10.1 North America
        10.1.1 USA
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 UK
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Netherlands
        10.2.6 Spain
        10.2.7 Russia
        10.2.8 Belgium
        10.2.9 Rest of Europe
    10.3 Asia Pacific
        10.3.1 China
        10.3.2 Japan
        10.3.3 India
        10.3.4 South Korea
        10.3.5 Australia and New Zealand
        10.3.6 Indonesia
        10.3.7 Taiwan
        10.3.8 Malaysia
        10.3.9 Rest of Asia Pacific
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Colombia
        10.4.4 Chile
        10.4.5 Rest of South America
    10.5 ROW
        10.5.1 Middle East
            10.5.1.1 Saudi Arabia
            10.5.1.2 UAE
            10.5.1.3 Israel
            10.5.1.4 Rest of Middle East
        10.5.2 A frica
            10.5.2.1 South Africa
            10.5.2.2 Nigeria
            10.5.2.3 Rest of Africa
11. Non-Woven Glass Fiber Prepreg Market-Entropy
    11.1 New Product Launches
    11.2 M&A’s, Collaborations, JVs and Partnerships
12. Non-Woven Glass Fiber Prepreg Market-Industry/Segment Competition Landscape Premium
    12.1 Company Benchmarking Matrix- Major Companies
    12.2 Market Share at Global Level- Major companies
    12.3 Market Share by Key Region- Major companies
    12.4 Market Share by Key Country- Major companies
    12.5 Market Share by Key Application - Major companies
    12.6 Market Share by Key Product Type/Product category- Major companies
13. Non-Woven Glass Fiber Prepreg Market- Key Company List by Country Premium Premium 
14. Non-Woven Glass Fiber Prepreg Market Company Analysis- Business Overview, Product Portfolio, Financials, and Developments
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

LIST OF FIGURES

1.US Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
2.Canada Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
3.Mexico Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
4.Brazil Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
5.Argentina Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
6.Peru Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
7.Colombia Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
8.Chile Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
9.Rest of South America Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
10.UK Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
11.Germany Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
12.France Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
13.Italy Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
14.Spain Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
15.Rest of Europe Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
16.China Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
17.India Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
18.Japan Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
19.South Korea Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
20.South Africa Non-Woven Glass Fiber Prepreg Market Revenue, 2019-2024 ($M)
21.North America Non-Woven Glass Fiber Prepreg By Application
22.South America Non-Woven Glass Fiber Prepreg By Application
23.Europe Non-Woven Glass Fiber Prepreg By Application
24.APAC Non-Woven Glass Fiber Prepreg By Application
25.MENA Non-Woven Glass Fiber Prepreg By Application
26.Owen Corning, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Saertex Gmbh & Co. Kg, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Jushi Group Co., Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Ppg Industries, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.John Manville, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Saint-Gobain Adfors, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Ahlstrom Oyj, Sales /Revenue, 2015-2018 ($Mn/$Bn)