Environmental regulations in Europe and the U.S. enforcing low CO2 emissions and increased fuel efficiency are compelling manufacturesto develop more fuel-efficient vehicles,which has resulted in increasing use of composites in the automotive industry. Composites are seen as a substitute for aluminum and steel in high-end cars which would help the automotive industry meet the fuel efficiency standards. This will ultimately fuel the prepreg demand in automotive application in North America and Europe, which will positively impact the global glass fiber prepreg market.
In December 2014, Hexcel Corporation (U.S.) acquired 50% interest in Formax UK Limited (U.K.) to advance its knitting technology for aerospace applications and provide scale for growing industrial markets. This will help the company develop its range of stitch-bonded reinforcements (including glass fiber) and help grow its business while expanding technologies and strengthening the market position.
In addition to this, Hexcel Corporationhad previously expanded its carbon fiber and glass fiber production capacity in September 2014 through the addition of new precursor, glass epoxy, and carbon fiber lines in Roussilion, France, to serve the aerospace industry. The company invested $250 million in precursor and carbonization lines. These acquisitions and expansions helped Hexcel leading with the highest share of 24.0% in the global glass fiber prepreg market.
North America has the largest share of 37.6% in the global glass fiber prepreg market. Its market size isprojected to reach $587.0 million by 2019. The major reason behind the growth of this regional market is the expansions, collaborations, and acquisitions of the key players, such as Hexcel Corporation and Cytec Industries, Inc. that are operating in this region.
The report includes in-depth profiles of the key market players along with the recent developments (including new product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their market position.
The major participants operating in the Global glass fiber prepreg market are Hexcel Corporation (U.S.), Cytec Industries, Inc. (U.S.), Gurit Holding AG (Switzerland), SGL Group, Toray Industries (Japan), TenCate Advanced Composites (Netherlands), Axiom Materials, Inc. (U.S.), Mitsubishi Rayon Co., Ltd. (Japan), and Teijin Limited (Japan).