Bismaleimide (BMI) Prepreg Market: Overview
·
Bismaleimide offers high-strength, high-temperature performance,
particularly when used as a matrix resin in fiber-reinforced prepregs. Prepreg
composite materials include a fiber layer, a prepreg resin composed of
bismaleimide, a thermoplastic toughening agent, and a resin distribution
stabilizer.
·
A bismaleimide (BMI) prepreg has high Tg (glass-transition
temperature), which can be useful across all major structural parts in the
aerospace & defense industry. It offers good mechanical performance,
toughness, robust tooling, and durability with an excellent surface finish.
Key Drivers of Global Bismaleimide
(BMI) Prepreg Market
·
Sales of F-35 by Lockheed Martin increased by 40% in 2017. The
company is planning to increase its annual deliveries from 66 aircraft in 2017
to 160 aircraft by 2023. Increasing sales of aircraft are boosting the global
BMI prepreg market.
·
Production of composite-rich military aircraft, especially
Lockheed Martin’s F-35, is increasing. An F-35 aircraft is composed of
composites, which account for around 35% of its structural weight. A BMI
prepreg is the most common prepreg employed to fabricate composite parts of
F-35.
·
BMI prepregs are used in the manufacture of
high-temperature-resistant composite materials, which can replace metals in
applications wherein the most critical need is to withstand extreme temperature
conditions and harsh environments. Bismaleimide (BMI) prepregs can operate at a
temperature of 350°C or above and they can be used in a wide array of
high-temperature applications such as tooling, engine nacelles, compressor
fairing, thrust reversers, automotive racing components, radomes, and missile
propulsion systems.
·
Increase in the adoption of BMI prepregs in the commercial
aircraft industry is also driving the demand for these prepregs. Major OEMs are
closely working with engine manufacturers to develop fuel-efficient aircraft so
as to meet airline requirements. This leads to the development of high-thrust
engines, which generate a higher amount of heat. Thus, aircraft manufacturers
are incorporating advanced materials in the manufacture of aircraft, such as
BMI prepregs, with the objective of making aircraft light in weight and making
it withstand extreme temperatures. These factors are anticipated to boost the
global BMI prepreg market during the forecast period.
Aerospace & Defense End-use
Industry Segment Held a Major Share in 2018
·
The aerospace & defense end-use industry segment is expected
to account for a major share of the global bismaleimide prepreg market during
the forecast period, due to increased production of aircraft by Boeing and
Airbus. According to The Teal Group, global aircraft production is anticipated
to increase from US$ 164 Bn in 2017 to US$ 218 Bn by 2022.
·
Increasing production of the fifth-generation military fighter
aircraft i.e. F-35 is likely to boost the demand for BMI prepregs in the near
future. Epoxy prepregs cannot be used in hot zones such as areas in the
vicinity of engine. On the other hand, bismaleimide prepregs can be used at
temperatures of up to 200°C.
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Asia Pacific to Hold a Major Share
of Global Bismaleimide (BMI) Prepreg Market
·
North America is expected to hold a key share of the global BMI
prepreg market during the forecast period, driven by presence of various
aircraft OEMs and aero engine manufacturers, tier players, prepreg
manufacturers, and raw material suppliers in the region. Lockheed Martin is
planning to open a new manufacturing facility for F-35 aircraft in Pinellas
Park, Florida (the U.S.) so as to raise its existing production rate. This is
expected to drive the demand for BMI prepregs in the region during the forecast
period.
·
In terms of demand, North America is followed by Europe and Asia
Pacific. Europe is likely to offer immense growth opportunities to the
bismaleimide prepreg market during the forecast period. Dassault Aviation, BAE
Systems, and Airbus Group are some of the key OEMs operating in Europe, which
are driving the demand for BMI prepregs in the region.
·
The market in Asia Pacific is likely to expand at a rapid pace
during the forecast period, driven by a range of factors including increasing
demand for commercial aircraft to support rising passenger traffic in the
region. Opening of assembly plants by Boeing and Airbus in China, upcoming
launch of indigenous commercial and regional aircraft (COMAC C919 and
Mitsubishi MRJ), and increasing aircraft fleet size are fueling the
bismaleimide prepreg market in the country.
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Key Players Operating in Market
The global
bismaleimide (BMI) prepreg market is highly fragmented, with the top
manufacturers accounting for approximately 45%–50% share of the global market.
Key players operating in the global bismaleimide (BMI) prepreg market are:
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Renegade Materials Corporation
·
Koninklijke Ten Cate BV
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Solvay
·
Hexcel Corporation
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MITSUBISHI MOTORS CORPORATION
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GMS COMPOSITES
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