[FURL=https://www.industryarc.com/Research/Aramid-Prepreg-Market-Research-503026?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Aramid Prepreg market[/FURL] size is forecast to reach US$5.2 billion by 2026, after growing at a CAGR of 8.9% during 2021-2026. The aramid prepreg is an aramid fiber layer that is woven together with the resins and resembles a fabric that is woven with aramid fibers and folded into sheets. Para-aramid fiber fabrics are infused with a controlled amount of epoxy resin and phthalic anhydrides to create aramid prepreg. Some of the prominent trends that the market is seeing are raising demand for greater safety and security. Key Takeaways
Asia-Pacific dominates the aramid prepreg market, owing to the increasing electrical & electronics industry in the region. According to Invest India, the domestic electronics market in India to attain US$400 billion by
2025.
Thermoset and thermoplastic matrix based aramid Prepreg are increasingly being used to replace their metal counterparts, to manufacture interior and exterior structures, because the former has higher specific strength and modulus than most metallic alloys.
There has been an increase in accidents and attacks using fire recently, with increasing urbanization. This is leading to an increase in demand for police, firefighting, and army personnel for protective suits, which is increasing the demand for reinforcement fibers and consecutively driving the market growth.
The major opportunity for this market is high research spending and growing awareness in society. Furthermore, it is also an opportunity for this market to develop advanced software tools for the development of reinforcement fibers of prepreg products.
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Aramid Prepreg Market Segment Analysis – By Geography
Asia-Pacific region held the largest share in the aramid prepreg market in 2020 up to 45%, owing to the accelerating aerospace industries in the region. Another factor contributing to the growth of the prepreg market in this area is the growth in the wind energy sector. The increasing population and per capita income are boosting the aerospace industry in the region. According to Boeing Commercial Market Outlook 2018-2037, China will require 7,690 new aircraft worth US$1.2 trillion over the next 20 years. Also, China currently accounts for 15% of the world’s commercial airplane fleet and by 2037 it will be nearly 20%.
Aramid Prepreg Market Drivers
Increasing Automotive Production
Flourishing Wind Energy Sector
Aramid Prepreg Market Landscape
Aramid prepreg market top companies are ACP Composites, Composite Holding Company, DuPont, Gurit Holding Ag, Hexcel Corporation, Isola Group, Composites Evolution, Lewcott, Mitsubishi Rayon Co. Ltd., NACCO Aerospace. Park Electrochemical Corporation, Toray Industries Inc., Ventec USA, Yokohama Aerospace, and Zoltek Companies.
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