Strategic Partnerships and Mergers: Catalysts for Revenue and Prepreg Market Growth
The global prepreg market size reached USD 6.94 Billion in 2021 and is expected to register a revenue CAGR of 10.7% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for prepreg from various end-use industries, especially from aerospace & defense, coupled with rising demand from the automotive industry is a key factor driving market revenue growth to a significant extent. Composite materials such as carbon fiber have replaced metal in the production of aircraft and automobiles owing to light weight and high strength. Moreover, flexibility for casting or molding into any shape highly increases demand for manufacturing of components for aircraft interiors, engine blades and rotors, propellers, fin blades, seats, and tail planes – also known as a horizontal stabilizer – among others. Lighter components also decrease operational costs, which is another key factors driving demand for prepreg and is expected to support revenue growth of...