Global Non-Woven Glass Fiber Prepreg Market – Industry Trends and Forecast to 2029

Global Non-Woven Glass Fiber Prepreg Market, By Prepreg Type (Thermoplastic Prepreg, Thermosetting Prepreg), Processing Method (Vacuum Bag Processing, Autoclave Processing), Glass Fiber Type (C-GLASS, A- GLASS, E-GLASS, AE-GLASS, S-GLASS), Application (Wind Energy, Electronics, Automotive, Aerospace and Defense, Others) – Industry Trends and Forecast to 2029.

Global Non-Woven Glass Fiber Prepreg Market Analysis and Size

Over the last few years, there has been immense need for smart mobility, smart architecture, and smart energy solutions has grown as the world's population has largely grown. In the forecasted period, the rising demand for innovations that combine robustness with low maintenance and excellent performance is projected to be a major driver of the nonwoven composites sector.

• Global Non-Woven Glass Fiber Prepreg Market was valued at USD 834.50 million in 2021 and is expected to reach USD 1699.76 million by 2029, registering a CAGR of 9.3% during the forecast period of 2022-2029. The "thermoplastic prepreg" accounts for the largest prepreg type segment in the non-woven glass fiber prepreg market due to its superior properties such as high strength, stiffness and excellent lightweight properties. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Global Non-Woven Glass Fiber Prepreg Market Definition

Nonwoven glass fibre prepreg is basically a high-strength composite with excellent mechanical qualities. The creation of glass fibre mesh and subsequent bonding of the mesh with reinforcing chemicals are the first steps in the non-woven prepreg process. Prepreg is a composite material made up of reinforcing glass fibre and a resin matrix.

Report Scope and Market Segmentation

Non-Woven Glass Fiber Prepreg Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

• High Utilization of Non-Woven Glass Fiber Prepreg

The industry is anticipated to expand as the demand for wind energy grows. Other factors such as increased use of non-woven glass fibre prepregs in the electronic and aerospace sectors, growth in the non-woven glass fibre prepreg market, rising demand for sports equipment and sports goods, and rising demand for automobiles will all contribute to the non-woven glass fibre prepreg market's acceleration during the forecast period.

The increasing applications for high-performance composites will further propelled the growth rate of non-woven glass fiber prepreg market. Additionally, the growing demand for lightweight vehicles is also to drive market value growth. The growing awareness regarding their beneficial properties such as improved energy efficiency, reduced vehicle emissions and increase safety at reduced program costs, which are projected to bolster the growth of the market.

Opportunities

• Technological Advancements and Shift towards high-performance composites

Furthermore, technological advancements in automobiles in developing regions also extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the major key players are largely shifting towards high-performance composites which will further expand the future growth of the non-woven glass fiber prepreg market.

Restraints/Challenges Global Non-Woven Glass Fiber Prepreg Market

• High Cost

The high manufacturing cost of non-woven glass fiber composites is estimated to create hindrances for the growth of the non-woven glass fiber prepreg market.

• Complexity With Recycling

Moreover, the complexity associated with the recycling prepreg material is also expected to hamper growth of the global non-woven glass fiber prepreg market.

• Lower Shelf Life

Also, the less shelf life of prepregs will prove to be a demerit for the non-woven glass fiber prepreg market. Therefore, this will challenge the non-woven glass fiber prepreg market growth rate.

This non-woven glass fiber prepreg market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the non-woven glass fiber prepreg market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Non-Woven Glass Fiber Prepreg Market

The recent outbreak of coronavirus had a negative impact on the non-woven glass fiber prepreg market. Due to increased feedstock costs and weak demand, the worldwide nonwoven composites sector is expected to decrease significantly during the coronavirus pandemic. In addition to this, the severe disruptions in various manufacturing as well as the supply-chain operations due to the various precautionary lockdowns imposed by governments to curb the spread of disease les to huge financial setback for the market. COVID-19's global proliferation has wreaked havoc on the global non-woven glass fibre prepreg market's supply chain. Low production rates, hoarded inventory difficulties, and a lack of labour availability are all projected to be major supply-side constraints in the foreseeable future for the nonwoven glass fibre prepreg market. Consumer sentiment is expected to be a major demand-side factor affecting the worldwide nonwoven glass fibre prepreg market negatively. These aforementioned determinants will weigh on the market's revenue trajectory over the forecast period.  

Recent Development

• In March 2021, Composites One, the largest North American supplier of composites materials and value added services, announced the acquisition of Solvay Composites Materials Global Business. The acquisition provides the company with an once-in-a-lifetime opportunity to expand its international manufacturing and sales capabilities in specialist materials used in vacuum-assisted composite manufacturing processes.

Global Non-Woven Glass Fiber Prepreg Market Scope

The non-woven glass fiber prepreg market is segmented on the basis of prepreg type, processing method, glass fiber type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Prepreg Type

• Thermoplastic Prepreg
• Thermosetting Prepreg

On the basis of prepreg type, the non-woven glass fiber prepreg market has been segmented into thermoplastic prepreg and thermosetting prepreg. Thermoplastic prepreg is anticipated to dominate the market owing to the high demand due to its superior properties such as high strength, stiffness and excellent lightweight properties.

Processing Method

• Vacuum Bag Processing
• Autoclave Processing

The non-woven glass fiber prepreg market has also been segmented on the basis of processing method into vacuum bag processing and autoclave processing.

Glass Fiber Type

• C-GLASS
• GLASS
• E-GLASS
• AE-GLASS
• S-GLASS

On the basis of glass fiber type, the non-woven glass fiber prepreg market is segmented into C-GLASS, A- GLASS, E-GLASS, AE-GLASS and S-GLASS.

Application

• Wind Energy
• Electronics
• Automotive
• Aerospace and Defense
• Others

On the basis of application, the non-woven glass fiber prepreg market is segmented into wind energy, electronics, automotive, aerospace and defense and others.

Non-Woven Glass Fiber Prepreg Market Regional Analysis/Insights

The non-woven glass fiber prepreg market is analysed and market size insights and trends are provided by country, prepreg type, processing method, glass fiber type and application as referenced above.

The countries covered in the non-woven glass fiber prepreg market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the non-woven glass fiber prepreg market because of the increased government support and the growing need of electricity from the industries in the region. Furthermore, as the need for electronic products grows, so does the demand for non-woven glass fibre prepregs, which are used in the PCBs of electronic goods. This enhances the market within the region.

North America on the other hand, is estimated to show lucrative growth due to the booming automotive industry along with the increase in the demand of non-woven glass fiber prepregs due to their application in the PCBs of electronic goods in the emerging economies in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Non-Woven Glass Fiber Prepreg Market Share Analysis

The non-woven glass fiber prepreg market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to non-woven glass fiber prepreg market.

Some of the major players operating in the non-woven glass fiber prepreg market are

• Saint-Gobain (France)
• Huntsman International LLC (U.S.)
• Owens Corning (U.S.)
• BASF SE (Germany)
• SOLVAY (Belgium)
• Setral Chemie GmbH (Germany)
• SGL Carbon (Germany)
• SAERTEX GmbH & Co. KG (Germany)
• Jushi Group Co., Ltd (China)
• PPG Industries Inc. (U.S.)
• Johns Manville (U.S.)
• Ahlstrom-Munksjö (Finland)
• Ashland Inc (U.S.)
• Arkem S.A. (France)
• Hexcel Corporation (U.S.)
• Jonam Composites Ltd., (U.K)
• Toray Advanced Composites (Netherlands)