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Prepreg is known as reinforcing fabric that has been pre-impregnated with resin system. The resin system includes proper curing agent. Prepreg is one of the essential materials used in multilayer boards and holds the cores together. Tow prepreg features high filament numbers and is majorly used in industries which require great robustness. Tow prepregs consists of a combination of glass fiber filament, carbon, and duro plastic resin as binder material. The tow prepreg is pre-impregnated, which allows industrial manufacturers to enhance their output by eliminating the resin coating.

Rising usage of tow prepreg in the oil & gas industry and benefits of over wet-winding process is key factor driving the growth of the global Tow Prepreg market. Wet winding process is majorly used for circular, hollow, or oval sectional components such as tanks, and pipes. Materials involved in wet winding process includes resins, fibres, and cores. The process is limited to convex shaped components and includes wastage of materials leading to environmental pollution. It generates health hazards for workers and technicians, therefore it is not considered as a suitable working environment for workers. Wet winding process develops issues related to resin pot-life, odour, and off-gassing. However, tow prepregs are efficient in overcoming all of the challenges faced through wet winding process. The tow prepreg process does not include volatile organic components, and no solvents are involved in the process. The process involves low raw material cost and allows flexibility in resin/ fiber combination. Unlike wet winding process, the working environment is clean for workers and enhances the winding process. Such advantages of tow prepared over wet winding process is catalyzing the growth of the market, globally. On contrary, high manufacturing and processing cost might hamper the growth of the market.

Based on the fiber type, the market is segmented into carbon fiber, glass fiber, and other. Among these, the carbon fiber is expected to grow at a higher CAGR during the forecast period. This is attributed to the high demand for carbon fiber in automotive & transportation, aerospace & defense, and sports & recreational sectors. Moreover, its enhanced properties such as high strength, excellent fatigue resistance, lightweight, and no corrosion accelerates the growth of the carbon fiber in Tow Prepreg market, globally. In addition to this, glass fiber segment is expected to grow at a higher CAGR during the forecast period as prepreg produced through glass fiber has excellent thermal conductivity, durability, dimensional stability, and good chemical resistance.

On the basis of end-use Industry, the market is segmented into aerospace & defense, automotive & transportation, sports & recreational, oil & gas, and others. Among these, the aerospace & defense industry is expected to grow at a higher CAGR during the forecast period. Increasing usage of product in manufacturing of numerous aerospace parts such as air ducts, lavatories, cabin linings, passenger floor panels, bars, ceiling panels, fins & winglets due to tow prepreg’s light weight nature would generate the growth of market. On the other hand, the automotive & transportation industry is projected to grow at a higher CAGR during the forecast period owing to the increasing usage of tow prepreg in manufacturing of transmission axle, CNG cylinders, leaf springs, and other automotive components in the industry. Additionally, to reduce environmental pollution, automotive & transportation industry is inclined toward environment friendly products, which fuels the growth of the market.

Based on region, Asia-Pacific is projected to grow at higher CAGR during the forecast period. This is due to the continuous growth in installation of wind capacity across major countries in the region, which includes Indonesia, China, and India.

The major players operating in Tow Prepreg market includes TCR Composites, SGL Carbon, JXTG Holdings, Inc., TEIJIN LIMITED, Mitsubishi Chemical Holdings Corporation, Hexcel Corporation, Red Composites Ltd, Arisawa Manufacturing Co., Ltd, Porcher Industries Designs and Vitech Composites among others.

The Global Tow Prepreg market has been segmented based on Resin Type, Fiber Type, Application, End-Use Industry and Region. Based on Resin Type, the market is segmented into Epoxy Resin, Phenolic Resin, and Others. Based on Fiber Type, the market is segmented into Carbon Fibre, Glass Fibre, and Others. Based on Application, the market is segmented into Pressure Vessel, Scuba Tanks, Oxygen Cylinders, and Others. Based on End-Use Industry, the market is segmented into Aerospace & Defense, Automotive & Transportation, Sports & Recreational, Oil & Gas, and Others.

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