Thermoplastic Prepreg Market size was valued at USD 290 million in 2024 and is expected to reach USD 1.39 billion by 2037, exhibiting a CAGR of 12.8%. In 2025, the industry size of thermoplastic prepreg is evaluated at USD 330 million.
The rising demand for durable and lightweight materials in the automotive and aerospace industries is a major driver of the market. They offer superior features in comparison to traditional materials. For instance, in May 2024, the National Aeronautics and Space Administration (NASA) published a literature review on the advances in thermoplastic composites over three decades. It stated that advancements in automation drive the adoption of thermoplastic composites, and thermoplastic composites prepreg quality has improved over time, offering nearly infinite room temperature shelf life. The growing adoption of thermoplastic composites drives demand for prepregs, creating opportunities for suppliers and manufacturers.
Additionally, the rising demand for fuel-efficient vehicles is a major driver for the market. Automakers are leveraging thermoplastic prepregs to produce lightweight components that improve fuel efficiency without making concessions on durability. In November 2024, the U.S. Environmental Protection Agency released the 50th annual Automotive Trends Report, highlighting the U.S. fuel economy of 2023 reaching a record high and greenhouse gas emissions (GHG) dropped to record low levels. The improving fuel economy and reduction in emissions create opportunities for thermoplastic prepregs to provide sustainable performance-enhancing solutions.
The thermoplastic prepreg market is poised to benefit from surging opportunities in the green energy market, especially in wind turbine manufacturing. Thermoplastic prepregs offer the durability and lightweight properties required to create turbine blades. For instance, in March 2022, the ZEBRA consortium produced the prototype of its 100% recyclable wind turbine blade made using Elium resin of Arkema, i.e., a thermoplastic resin known for its recyclable properties. Such advancements are poised to create opportunities in wind turbine rotor blade manufacturing, with a global manufacturing focus shifting to usher in a circular economy. The thermoplastic prepregs market is poised to leverage the favorable trends and continue its robust growth by the end of the forecast period.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
12.8% |
|
Base Year Market Size (2024) |
USD 290 million |
|
Forecast Year Market Size (2037) |
USD 1.39 billion |
|
Regional Scope |
|
Matrix Material (Polyether-ether-ketone, Polyamide-Imide, Polyphenylene Sulfide, Polyetherketoneketone)
By 2037, poly-ether-ketone (PEEK) segment is estimated to capture thermoplastic prepreg market share of over 54.6%. A key driver of the segment’s dominance is the exceptional thermal stability offered by PEEK as a heat-resistant polymer. PEEK-based prepregs are experiencing increasing demand from the automotive and aerospace industries for components that can withstand extreme temperatures. Furthermore, the durability of PEEK makes it ideal for applications in medical implants.
Key players, such as Syensqo, are demonstrating advanced PEEK solutions to leverage the rising demands and expand their revenue share in the market. For instance, in October 2024, the Ajedium Peek e-motor slot liners of Syensqo were showcased at the Battery Show North America 2024 to highlight its usage in next-generation electric vehicle solutions. The PEEK film for 800V electric motor slot liners can outperform the copper fill and heat dissipation capabilities of traditional aramid papers, benefiting manufacturers by reducing dependence on conventional cooling systems. The innovation-centric approach by major market players is a testament to the segment’s growth potential.
The polyamide-imide (PAI) segment of the thermoplastic prepreg market is positioned to increase its revenue share by the end of the forecast period. The superior wear resistance offered by PAI-based prepregs is benefiting adoption across industries. Furthermore, businesses are investing in research to push the boundaries in the capabilities of advanced polymers to expand their applications across various industries. For instance, in July 2023, Drake Plastics announced the development of Torlon PAI heavy-wall injection molding technology. The advancement is a testament to the growing demand for high-performance polymers which can also be used as a matrix resin in thermoplastic prepregs.
Reinforcement Fiber (Carbon Fiber, Glass Fiber, Aramid Fiber)
The carbon fiber segment of the thermoplastic prepreg market is positioned to hold a significant revenue share in the market. The design flexibility offered by carbon fiber thermoplastic prepreg, along with repairability features, boosts its adoption. Apart from the major industries such as aerospace, automotive, and wind energy, emerging end users such as in sports & recreation are poised to expand the segment.
Furthermore, major market players are seeking to repurpose carbon fiber prepreg waste as a commitment to the circular economy initiatives. For instance, in July 2024, Toray Composite Materials America, Inc., announced the execution of a MoU with Elevated Materials under which the latter will scrap carbon fiber prepreg materials and boost the elimination of carbon fiber waste in the aerospace industry.
Our in-depth analysis of the global thermoplastic prepreg market includes the following segments:
|
Matrix Material |
|
|
Reinforcement Fiber |
|
|
Form |
|
|
Application |
|
North America Market Forecast
In thermoplastic prepreg market, North America region is poised to hold more than 30.9% revenue share by 2037. The regional market’s growth is owed to rising demands for thermoplastic prepreg from well-established aerospace, defense, automotive, and medical industries. The U.S. and Canada lead the revenue share in North America. Furthermore, North America boasts a stable supply chain for thermoplastic composites ensuring reduced disruptions and price stability. Additionally, the rising EV adoption in the region is projected to create a sustained demand for the material benefiting the continued growth of the sector.
Companies with a presence in the region are committed to reducing emissions. For instance, in May 2024, BASF Inc. announced opting for sustainable glass fiber in its Ultramid portfolio, and the glass fibers will be produced by 3B Fibreglass, a leading company and supplier of glass fiber solutions for the reinforcement of thermoplastic and thermoset polymers.
The U.S. holds a dominant share in the North America thermoplastic prepreg market. The advanced industrial ecosystem of the U.S. drives the sector’s growth due to increased consumption of the material. The expansion of the fuel economy in the U.S. is poised to drive demands for thermoplastic prepregs. The U.S. Environmental Protection Agency (EPA) released the Annual Automotives Report in May 2024, stating that the new vehicle fuel economy increased by 1.1 mpg, reaching a record high of 27.1 miles mpg. The trends create a favorable outlook for the thermoplastic prepreg market in the country as the material is ideal for creating lightweight components for vehicles.
Furthermore, increasing demand for reinforcement fibers has the potential for manufacturers to diversify product offerings. For instance, in October 2023, Ahlstrom launched a new glass fiber tissue line for high-performance building materials in the U.S. The advanced glass fibers can be incorporated into thermoplastic prepregs to improve the mechanical properties, and durability boosting the sector’s growth.
Canada is poised to expand its share in the North America thermoplastic prepreg market. The advanced manufacturing trends in the country propel the sector’s growth. Canada’s commitment to renewable energy, such as wind energy projects, creates opportunities for thermoplastic prepreg suppliers and distributors. Furthermore, advancements in carbon fiber production are positioned to improve the supply chain for thermoplastic prepreg manufacturers.
For instance, in July 2024, Alberta Innovates announced receiving USD 10 million for the Regional Innovation Ecosystems (RIE) to allow the former to establish a specialized production and testing facility to convert bitumen into carbon fiber. The commercialization of the production process stands to reduce the cost of carbon fiber, which in turn benefits the domestic thermoplastic prepreg sector of Canada.
Europe Market Forecast
The Europe thermoplastic prepreg market is poised to exhibit the fastest growth during the forecast period. The strong focus on building a circular economy and advancements in thermoplastic composites are major drivers of the sector’s growth curve in Europe. The region has a strong automobile industry, led by Germany, and a thriving aerospace industry led by companies such as Airbus, that are integrating thermoplastic prepreg solutions to boost operational efficiency.
Furthermore, key players in the Europe thermoplastic prepreg market are advancing thermoplastic composites that have the potential to expand applications. For instance, in May 2023, Solvay launched a new Ketaspire PEEK for monolayer e-motor magnet wire insulation which is expected to provide heightened sustainability benefits. The advancements stand to drive demand for high-performance polymers benefiting the market of Europe.
Germany holds a dominant share in the thermoplastic prepreg market of Europe owing to a well-established automotive industry in the country and the presence of major market players in the composites sector. For instance, in October 2020, Ensinger commissioned a new prepreg facility in Germany, and an increase in facilities strengthens the domestic supply chain in the country.
Additionally, companies in Germany are at the forefront of innovation related to advanced composite materials, expanding their applications which in turn increases the revenue streams for the thermoplastic prepreg market. For instance, in October 2023, Evonik launched carbon-fiber-reinforced PEEK filament for 3D printed medical implants, expanding end use scope of the thermoplastic prepreg market.
France is poised to increase its revenue share in the Europe market. The market has the potential to witness an increase in thermoplastic prepreg manufacturing to cater to demands for advanced lightweight materials for next-generation aircraft. Furthermore, investments and acquisitions of domestic companies in France indicate the burgeoning potential of the market. For instance, in May 2022, Bemis Associates Inc., acquired the France-based manufacturing company, Protechnic. The acquisition is expected to boost Bemis’s portfolio of thermoplastic film manufacturing.
The thermoplastic prepreg market is poised to register a profitable expansion during the forecast period. The competitive market has key players maintain their revenue share through continuous innovation and strategic investments. The major players are investing to expand to emerging markets in APAC, the Middle East, and Africa to establish production facilities and shore up supply lines. Furthermore, collaborations with OEMs ensure tailored solutions for the end user and can help in strengthening the market position of the companies.
Here are some key players in the thermoplastic prepreg market:
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?