Report ID: SQMIG15A2454
Report ID:
SQMIG15A2454 |
Region:
Global |
Published Date: November, 2024
Pages:
168
|
Tables:
86 |
Figures:
71
North America dominates the global prepreg market due to its robust aerospace, defense, and automotive industries, which are key consumers of high-performance prepregs. The vibrant research and development (R&D) ecosystem prevalent in the region encourage innovation in advanced composite materials such as lightweight and tough prepregs which can be used for future applications. Rising investments in clean energy sources particularly in wind turbines increases the need for use of prepregs in structural parts. Government backing of clean energy policies, as well as the imposition of tough rules mandating for fuel economies and reduction of emissions, help in market expansion. Moreover, the availability of leading prepreg producers and the qualified labor secures competition and promotes the North American dominance in the global prepreg industry.
Europe is the fastest-growing region in the global prepreg market due to its aggressive focus on sustainability, lightweighting, and renewable energy adoption. The region’s strong automotive and aerospace sectors drive demand for advanced prepregs to meet stringent emission and fuel efficiency regulations. Expanding wind energy projects, particularly in countries like Germany and Denmark, fuel the need for glass and carbon prepregs in turbine components. The growth of the region is also fuelled by technological developments and state policies promoting green energy and circular economy practices. Moreover, the vast research facilities in Europe, paired with the industry-academia collaboration, contribute to innovative solutions, thus turning Europe into the leading supplier of advanced prepreg technology.
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Report ID: SQMIG15A2454