Tow Prepreg is a composite material that consists of a tow composite and a prepreg composite, and the tow composite is a filament yarn or roving that contains fibers in all directions. In contrast, the prepreg composite is a solid sheet of reinforcement material. According to BlueQuark Research and Consulting, the global Tow Prepreg market is expected to grow considerably during the forecasted period. Factors such as the growing adoption of the material in the oil and gas industry and rising awareness regarding the benefits of tow prepreg over the wet winding process are expected to drive the growth of the global tow prepreg market in the forecasted period. Further, increasing demand for making electric vehicles and reducing the weight of existing vehicles with the help of lightweight materials are expected to drive the development of the global tow prepreg market in the forecasted period. Furthermore, the rise in demand for carbon fibre-reinforced plastic is expected to drive the growth of the worldwide tow prepreg market in the forecasted period. However, the high cost associated with manufacturing and processing of tow prepreg is a significant factor that could hinder the growth of the global tow prepreg market in the forecasted period.

The oil & gas industry is a significant consumer of the tow prepreg due to rising consumption. It has been one of the major industries with a high demand for tow prepreg over the years due to the rising demand for pressure vessels. Two prepreg offer increased strength and durability, making them ideal for manufacturing FRP tanks for storing oil and gas. The growing use of tow prepreg in the oil and gas sector and its advantages over the wet winding technique will likely propel the global tow prepreg industry forward. The wet winding procedure is commonly employed for round, oval-sectional, or hollow components like tanks and pipelines. Cores, fibres, and resins are used in wet winding. The procedure is confined to convex-shaped elements and involves material waste, which pollutes the environment. Due to it poses a health risk to employees and technicians, it is not regarded as a safe working environment. However, the automotive and transportation industry is projected to drive by the increasing demand for lightweight and high-strength materials as the manufacturing of automotive components such as CNG cylinders, transmission ale, and leaf springs, among others, manufacturers must focus on developing innovative products that offer to the specific needs of different end-users to capitalize on the market's growth opportunities.

Asia Pacific is expected to become the fastest-growing global tow prepreg market. This region's market growth tow prepreg is primarily attributed to a solid industrial base and prominent manufacturers significantly contributing to market growth. Increasing demand for tow prepreg from various end-use industries like aerospace and defence, automotive, and oil, among others, is a significant factor driving the market growth. Tow prepreg is infused with epoxy resin and delivered as a spool. The prepreg fibres are of exclusive strength and are lightweight, which makes these materials ideal for aircraft manufacturing. Tow prepreg generally requires heat treatment after being shaped as needed and demands prepreg epoxy to form matrices. Tow prepreg has high tensile strength and uniformity and requires less time for curing. The main application of tow prepreg is in filament winding and Automated Fiber Placement (AFP) process. Filament winding with tow prepreg enables highly accurate control of resin contrast and gives it uniformity. It is cost-efficient compared to slit tapes that are commonly used and is easy to handle compared to wet fibre systems. This also enhances the efficiency of the machine and produces less waste. Growing demand for the product from the aerospace and defence industry and surging investments in the defence sector related research and development to explore the practices of tow prepreg in defence and aerospace, and product of technologically advanced tow prepreg for application in various sectors inducing automotive, industrial, infrastructure, and numerous others are major factors expected to propel the growth of the global tow prepreg market. Tow prepregs are used for various manufacturing processes, including fibre positioning, moulding, and filament winding. In contrast, unidirectional tapes are utilized as composite structures for constructing three-dimensional structures like tubular structures and various other complex structures. This production process also suits non-interwoven fibres, including parallel and large-fibre area composite structures. Tow prepreg is one of the significant materials required in the manufacturing of primary as well as secondary structural components of automobiles and aerospace. It is the preferred material for application in these industries owing to its excellent properties, such as high strength, uniformity, less curing time, lightweight, and superior cosmetics and appearance. Prominent property of tow prepreg, like high tensile strength, is perfect for making hydrogen-fuel cells for automotive and industrial sectors.

Some market key players are TCR Composites Inc, Toyobo Co. Ltd ., Toray Industries Inc, Axiom Materials, Inc., and Park Aerospace Corp.

On October 5, 2021, Toray Advanced Materials Korea (TAK) announced its entry into the intermediate carbon fibre prepreg business to increase the commercial coordination of carbon fibre composite materials. By providing high-performance, high-quality carbon fibres and processability, TAK will actively respond to industrial fields such as wind power generation blades of eco-friendly energy and hydrogen cars, electric vehicles, and urban aviation mobility (UAM).

In May 2021, Hexcel Corporation announced the expansion of its Prepreg manufacturing capacity at its Salt Lake City facility to meet the growing demand for advanced composite materials in the aerospace and defence industries.

Global Tow Prepreg Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Tow Prepreg Market by segmenting based on By Fibre Type ( Carbon fibre, Glass fibre, and Others), By Resin Type ( Epoxy, Phenolic, and Others), By Application (Pressure Vessel, Scuba Tanks, Oxygen Cylinders), By End-use Industry (Oil & Gas, Automotive & Transportation, Aerospace & Defense, Sports & Recreational, Medical, Marine, Industrial, Wind Energy), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). The report examines the market drivers and restraints and the impact of Covid-19 on market growth in detail. The study covers emerging market trends, development, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.