Tow Prepreg Market value projected to expand by 2024

ReportsnReports adds “Tow Prepreg  Market” to its store. The Report provides in-depth analysis of the Tow Prepreg Market at global and key country level.

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The Tow Prepreg Market is expected to grow from USD 305 Million in 2019 to USD 492 Million by 2024, at a CAGR of 10.0% during the forecast period.

Top Companies Profiled in the Tow Prepreg Market:

  • TCR Composites (US)
  • SGL Carbon SE (Germany)
  • JXTG Holdings, Inc. (Japan)
  • Teijin Ltd. (Japan)
  • Mitsubishi Chemical Holdings Corporation (Japan)
  • Hexcel Corporation (US)
  • Porcher Industries designs (France)
  • Red Composites Ltd. (UK)
  • Vitech Composites (France)
  • Arisawa Mfg. Co., Ltd. (Japan)

“Automotive & transportation is the fastest-growing end-use industry of tow prepreg, in terms of value.”

Tow prepreg is gaining importance in the automotive& transportation industry. The automotive industry is researching on the commercial viability of advanced materials and is focused on increasing efficiency by reducing vehicle weight. Several car manufacturers, along with tow prepreg producers, are slowly venturing into the production of tow prepreg-based automotive parts.

“Carbon fiber type accounted for major share of the overall tow prepreg market.”

The global tow prepreg market is projected to be dominated by the carbon fiber type during the forecast period. It has better mechanical properties, which is driving its use in many applications. It is possible to produce Class A surface finish on panels with the use of carbon fiber. This fiber is robust enough for handling and processing during the manufacturing process.

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Breakdown of primary participants’ profile:

  • By Company Type- Tier 1- 35%, Tier 2- 40%, and Tier 3- 25%
  • By Designation- C Level- 25%, Director Level- 35%, and Others- 40%
  • By Region- North America- 20%, Europe- 35%, APAC- 25%, MEA-15%, Latin America-5%

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