Thermoplastic Prepreg Market Share

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.