The global Unidirectional Carbon Fiber Tape Market is forecast to reach USD 499.0 Million by 2027, according to a new report by Reports and Data. This is estimated to grow at a rapid pace over the forecasted period owing to its increasing demand from industries such as aerospace defense, automotive, and others. The product consists of endless fibers that are embedded into the thermoplastic or thermoset polymer matrix and are oriented in one direction.
Across the globe, industries are implementing techniques to cost-efficiently manufacture parts that have low weight and high mechanical strength. The Unidirectional Carbon Fiber Tape are expected to serve the aims aforementioned and increase demand for various other applications.
The market is estimated to witness high demand owing to its rising application in the lightweight and high-strength components from the automotive industry. Moreover, increasing government pressure on improving fuel efficiency is estimated to drive the demand for lightweight parts, thereby propelling the growth of the product. The Unidirectional Carbon Fiber Tape in automotive are extensively used to provide a solution to problems like aesthetics, safety, and efficiency. The expansion of the automotive industry in developing regions such as India, Indonesia, Japan, China, and others is estimated to boost the market growth in the next few years.
The product processing advantages, including the no emission of volatile matter, shorter cycle time, and the ability to remold is expected to be the key driving factors. Moreover, these tapes are recyclable, which further promotes its application in different end-use industries, including sports goods, transportation, and others. The superior chemical resistance boosts its demand across various industrial applications.
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Competitive Landscape
The global Unidirectional Carbon Fiber Tape market is quite competitive and comprise several market players operating at global and regional levels. Key players are focused on investing in research and development activities to develop and launch advanced effective products and are adopting various strategic plans such as mergers and acquisitions, collaborations, partnerships, joint ventures to expand their product base and strengthen their market position.
Key companies operating in the market that are profiled in the report:
- Evonik Industries
- SABIC
- Solvay
- Hexcel Corporation
- Royal Tencate
- SGL Group
- Teijin Limited
- Celanese Corporation
- BASF
- Victrex
Further key findings from the report suggest
- Among the end-use industry segment, aerospace and defense are leading the market, and it will continue to dominate the market during the forecasted period owing to the need for technologically advanced and fuel-efficient aircraft.
- Among the resin type segment, presently, the thermoplastics unidirectional tape is leading the market with 58.5% of the global revenue, and it will continue to dominate with an estimated CAGR of 13.8% over the forecasted period.
- North America is presently leading the market, and it will continue to dominate owing to the presence of major aircraft OEMs and manufacturing units of the aerospace industry.
- Across the globe, companies are trying to decrease the effect of global warming and explore the potential of Unidirectional Carbon Fiber Tape to decrease greenhouse gas emissions. The difficulty of recycling glass fiber is a stumbling block, primarily in the automotive and construction sectors, where the pressure to recycle is high.
- BMW has been extensively using Unidirectional Carbon Fiber Tape for reinforcing the roof of its M-series cars. Moreover, these tapes are also being used in F-1 composite chassis of Ferrari's hybrid car, and the CAMISMA projects lightweight seat design. With a rise in the demand for these products in lightweight, high-strength components in automotive applications, the tapes are expected to register a CAGR of 13.8% over the forecasted period.
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Segments Covered in the report :
Resin Type Outlook (Revenue, USD Million; 2017-2027)
- Thermoplastic UD tapes
- Thermoset UD tapes
Fiber Outlook (Revenue, USD Million; 2017-2027)
- Glass Fiber
- Carbon Fiber
End-User Outlook (Revenue, USD Million; 2017-2027)
- Aerospace Defense
- Automotive
- Sports Leisure
- Others
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, Italy, U.K., France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E, South Africa, Rest of Middle East Africa)
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- What is the expected market size of the global Unidirectional Carbon Fiber Tape market over the forecast period?
- Which factors are expected to hamper the growth of global Unidirectional Carbon Fiber Tape market between 2021 and 2027?
- Which key factors are expected to drive global market revenue growth during the forecast period?
- Which application segment revenue is expected to register rapid CAGR between 2021 and 2027?
- Which region is expected to register fastest revenue CAGR over the forecast period?
- Which key players are operating in the global Unidirectional Carbon Fiber Tape market?
- What are the key outcomes of SWOT analysis and Porter’s Five Force model?
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