Tow Prepreg Companies

The tow prepreg market is projected to grow from USD 0.20 billion in 2024 to USD 0.35 billion by 2029, at a CAGR of 12.3% during the forecast period.

Tow Prepreg Companies

The key drivers of the tow prepreg market are the growing demand for lightweight materials in various end-use industries, and changing consumer preferences regarding sustainable solutions. Stringent environmental regulations by the government are pushing the OEMs to adopt tow prepregs for light weight components to improve efficiency and reduce environmental impact. Companies like SGL Carbon, ENEOS Holdings, Inc., Teijin Limited, Toray Industries, Inc., and Hexcel Corporation are strategically positioning themselves in the tow prepreg market by increasing the production capacities of the tow prepreg to fulfill the need from automotive & transportation, oil & gas, aerospace & defense, and sports equipment industry. Major automotive manufacturers are utilizing carbon fiber tow prepreg to reduce the weight of the vehicles and contribute to sustainability by replacing traditional materials in body panels, and structural elements. In the following years, the automotive industry will continue to focus on a better supply chain that reduces CO2 emissions besides providing improved fuel efficiency. The growth in this sector is likely to drive the demand for tow prepreg rapidly.

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The major players active in the tow prepreg market are based in North America, Europe, and Asia Pacific region. TCR Composites, Inc. (US), SGL Carbon (Germany), ENEOS Holdings, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Carbon Fiber Composites, Inc. (US), Hexcel Corporation (US), Porcher Industries (France), Red Composites (UK), VITECH Composites (France), Arisawa Manufacturing Co., Ltd. (Japan), Toray Industries, Inc. (Japan), 3M (US), KORDSA (Turkey), Gurit Services AG (Switzerland), and Huntsman International LLC (US), are among a few leading players operating in the tow prepreg market. Significant attention has been dedicated to developing cost-effective manufacturing technology in the tow prepreg market to meet evolving global demands. Key players have implemented various growth strategies to solidify their market position. These strategies encompass contracts, partnerships, mergers and acquisitions, and, production capacity expansions, all aimed at enhancing their presence in the tow prepreg market.

Teijin Limited (Japan)

Teijin Limited is identified as one of the key players in the global carbon fiber tow prepreg market. Teijin Carbon Europe GmbH (principal subsidiary of Teijin Limited) has been manufacturing high-performance pre-impregnated materials, tow prepregs under the brand name Tenax. It also offers advanced material solutions, including high-temperature resins, prepreg systems, new fibers, and tailored sizing, among others. Teijin Limited is expanding its global reach by entering into agreements and partnerships with other companies in the market. It is also acquiring major suppliers to boost its production capacity to meet the increasing demand. It spends significantly on research & development for new products.

Hexcel Corporation (US)

Hexcel Corporation is a global leader in advanced tow prepreg market, primarily serving the aviation and aerospace industries. The company operates through two main segments: Composite Materials and Engineered Products. The company specializes in developing and marketing lightweight, high-performance materials and structures, such as carbon fibers, composites, prepregs, honeycombs, matrix systems, adhesives, and composite structures. These products are used across various sectors, including aerospace, defense, automotive, and industrial applications. Under its Composite Materials segment, Hexcel offers tow prepregs branded as HexTow. The company has a strong global presence, with 22 manufacturing facilities across North America, Europe, and the Asia Pacific region.

SGL Carbon (Germany)

SGL Carbon is a technology-driven global leader in the development and production of carbon-based solutions. The company operates through four business units: Graphite Solutions, Process Technology, Carbon Fibers, and Composite Solutions. SGL Carbon offers tow prepreg under the brand name SIGRAPREG. These high-quality pre-impregnated materials are used to create strong, stiff, and ultra-light fiber composites, which are widely applied in industries such as automotive, aerospace, and other end-use sectors. The company boasts a broad sales network, with 29 production sites and a global presence across Europe, North America, Asia Pacific, and the Middle East & Africa. The company aims to expand its carbon fiber business by developing new applications with innovative carbon fiber products in the construction industry and in the area of green hydrogen storage in pressure vessels.

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Tow Prepreg Market by Resin Type (Epoxy, Phenolic), Fiber Type (Carbon, Glass), Application (Pressure Vessel, Oxygen Cylinders, Scuba Tanks), End-Use Industry (Automotive & Transportation, Oil & Gas, Aerospace & Defense), and Region - Global Forecast to 2029