Stratview Research has recently published a report on BMI Prepreg Market segmented by Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026. The objective of the market experts at Stratview Research is to conduct a thorough analysis of the ‘BMI Prepreg’ and put a detailed knowledge about the industry and business attractiveness, revenue, market size, segmentation, growth and restraining factors so that the user gets in depth information about the industry and the business from a past, current and a future perspective and can potentially invest capital for further growth.
Additionally, the report covers a variety of established and emerging start-ups and organisations operating in the industry. As a result, the report provides a comparative analysis by presenting the user with various aspects of the markets discussed in the report.
Covid-19 Analysis –
Nationwide lockdowns have impacted, and halted productions, supply of raw materials sourcing disruption has affected the balance in the supply of finished products. This report aims to cover all the aspects of how the pandemic has affected the business in the BMI Prepreg market and how has the subsequent lockdowns inflamed the industry scenario and what are the areas that needs urgent action and re-planning.
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The report encompasses in-depth segmentations like regional segmentation, segmentation by product types, application-wise segmentation, geographical segmentation and thereby gives the user an overview of the effectiveness of the segmentation by various classes.
Based on the end-use industry type, Stratview Research has segmented the market as aerospace, defense, and others. The defense industry is estimated to remain the most dominant segment of the market during the forecast period. The best-selling fifth-generation military aircraft program, F-35, is likely to face delays of around two to three months in 2020 with a possible production reduction of 18 to 24 aircraft than its early projections of 141 aircraft. The production rate of the F-35 is likely to quickly bounce back in the years to come, owing to huge inventory objectives from domestic and international customers, which, in turn, will give an impetus to the demand for BMI prepreg.
Based on the application type, we have segmented the market as airframe, tooling, nacelle, and others. Tooling is likely to maintain its vanguard in the market during the forecast period. For this application, BMI prepreg serves high Tg (glass transition), which can be used across the major structural parts in the aerospace & defense industry. It offers good mechanical performance, toughness, robust tooling, and durability with an excellent surface finish.
Based on the curing type, the autoclave is projected to maintain its supremacy in the market over the next five years. Aircraft’s primary structures, such as wings, fuselages, and empennage components, are mostly fabricated by using composite materials and cured through an autoclave. The high pressure of the autoclave ensures good mechanical properties and helps to reduce void contents. The gradual shift towards out-of-autoclave prepreg owing to no requirement of expensive equipment and no size-limitation is expected to pressurize the autoclave market stakeholders to develop improvised, cost-efficient products in order to curb shortcomings in the long-term.
In terms of regions, North America is projected to capture the lion’s share during the forecast period, driven by the presence of the world’s leading aircraft OEMs, aeroengine manufacturers, tier players, prepreg manufacturers, and raw material suppliers. The USA’s unsurpassed defense spending is likely to give a thrust to the region’s market. Furthermore, Lockheed Martin has opened a new manufacturing facility to produce F-35 aircraft in Pinellas Park, Florida, the USA, which will generate greater demand for BMI prepreg in this region in the long run.
The BMI prepreg market is likely to endure the consequences of the suffering aerospace industry, marking a huge decline from 2019 to 2020 to reach a value of US$ 81.6 Million. The defense industry’s dominance in the market is expected to provide some solace to the market stakeholders sooner rather than later. As a result, the market is expected to register an overall rebounding CAGR of 5.3% during the forecast period.
Key Players in the BMI Prepreg Market
The following are the key players in the BMI Prepreg market.GMS Composites Hexcel Corporation Mitsubishi Chemical Carbon Fiber and Composites (MCCFC) Teijin Limited Solvay S.A. Toray Industries, Inc.
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