CHICAGO, Oct. 20, 2021 /PRNewswire/ -- According to the new market research report "Tow Prepreg Market by Resin Type (Epoxy, Phenolic), Fiber Type (Carbon, Glass), Application (Pressure Vessels, Scuba Tanks, Oxygen Cylinders), End-Use Industry, and Region (North America, Europe, APAC, MEA, & Latin America) - Global Forecast to 2026", published by MarketsandMarkets™, the market is expected to grow from USD 250 million in 2021 to USD 440 million by 2026, at a CAGR of 12.0% during the forecast period.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=73680934

Browse in-depth TOC on "Tow Prepreg Market"

254 – Tables
48 – Figures
233 – Pages

View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/tow-prepreg-market-73680934.html

Pressure vessels application to have the largest market share in the tow prepreg market during the forecast period.

Tow prepregs are widely used in the manufacturing of type-3 and type-4 cylinders. These cylinders offer numerous advantages over other cylinders regarding weight reduction, longer lifespan, and excellent tensile strength. A pressure vessel is primarily used in the oil & gas industry. However, since the past few years, aerospace & defense and automotive & transportation are also shifting towards the use of composite pressure vessels, which in turn is augmenting the demand for tow prepreg in the pressure vessels application.

The oil & gas end-use industry segment is expected to account for the largest share in the tow prepreg market during the forecast period, in terms of value.

Oil & gas is one of the world's largest industries. Globally, in terms of value, oil & gas exports were higher than 30% of the total global exports. FRP tanks are widely used in the oil & gas industry for storage, and nowadays, tank manufacturers are increasingly manufacturing these tanks using tow prepregs through the filament winding process. These storage tanks have high strength and long life to avoid the need for early replacement. Using tow prepreg-based tanks instead of steel tanks helps increase the durability of the tank and reduces the cost of replacement. Therefore, the increasing need for pressure vessels and tanks in this industry will drive the market growth of tow prepreg market.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=73680934

Europe region to account for the largest market share in the tow prepreg market during the forecast period.

Europe was the largest tow prepreg market, in terms of value, in 2020. The increasing use of tow prepreg in applications such as pressure vessels, scuba tanks, and other applications is expected to provide new growth opportunities to the market. Furthermore, high economic growth, growth in manufacturing industries, and presence of major tow prepreg manufacturers are some of the key factors driving the tow prepreg market in Europe.

The key players in the market include TCR Composites (US), SGL Carbon SE (Germany), ENEOS Holdings, Inc (Japan), Teijin Limited (Japan), Mitsubishi Chemical Carbon Fiber and Composites, Inc (US), Hexcel Corporation (US), Porcher Industries (France), Red Composites (England), Vitech Composites (France), Arisawa Manufacturing Co., Ltd. (Japan), Toray Industries, Inc (Japan), and 3M (US). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the tow prepreg market.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=73680934

Browse Adjacent Market: Chemicals Market Research Reports & Consulting

Related Reports:

Composites Market by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process, End-use Industry, and Region

https://www.marketsandmarkets.com/Market-Reports/composite-market-200051282.html

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com 
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/tow-prepreg-market.asp 
Visit Our Website: https://www.marketsandmarkets.com/ 
Content Source: https://www.marketsandmarkets.com/PressReleases/tow-prepreg.asp

View original content:https://www.prnewswire.com/news-releases/tow-prepreg-market-worth-440-million-by-2026--exclusive-report-by-marketsandmarkets-301404324.html

SOURCE MarketsandMarkets