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“The carbon fiber tape market is projected to register a CAGR of 12.0% during the forecast period.”
The global carbon fiber tape market size is projected to grow from USD 1.5 billion in 2020 to USD 2.6 billion by 2025, at a compound annual growth rate (CAGR) of 12.0% between 2020 and 2025. In comparison to conventional materials such as aluminum and steel, carbon fiber tape offers strength, tenacity, density, and thermal and electrical conductivity, fatigue, and corrosion resistance properties. Carbon fiber tape is preferred in high-performance applications in several end-use industries, including aerospace & defense, thereby driving the market. However, the negative impact of the COVID-19 pandemic on the aerospace & defense industry has affected the carbon fiber tape market adversely.
“Epoxy resin is the fastest-growing segment in the carbon fiber prepreg tape market in terms of value.”
Epoxy resin is projected to register the highest CAGR in terms of value between 2020 and 2025. Epoxy is the most widely used resin for carbon fiber prepreg tapes. It is a thermoset resin known for its excellent mechanical, electrical, and high heat resistance properties. It is also available in a wide variety of curing-agent variations. It has better physical, mechanical, and adhesion properties and low shrinkage compared to other resins. Carbon fiber prepreg tapes formulated using epoxy resin as a matrix have improved toughness, impact strength, and resistance to moisture and corrosion.
“Hot melt is the largest manufacturing process for carbon fiber prepreg tape in terms of value and volume.”
In the hot melt manufacturing process, heat and pressure are used to impregnate fibers with resin. It is also an environment-friendly process due to the use of water-based and solvent-free adhesives. In the hot melt process, resins with a very low percentage of solvents are used for the manufacturing of carbon fiber prepreg tapes. This process requires less coating, and high-speed production is possible with no thermal stress of the substrate.
“Prepreg tape is the largest form of carbon fiber tape in terms of value.”
Prepreg tapes are mainly used in aerospace and sporting goods industries for manufacturing wing spars, fuselage skins, bicycle frames, golf shafts, and others. They are also used in wind energy, automotive, pipe & tank, and medical industries for turbine blades, cosmetic components, prosthetics, and other applications. The emergence of new technologies, such as automatic fiber placement and automated tape laying, has provided precise, quick, and economical composite layups for the production of composite parts.
“Aerospace & defense is the largest end-use industry of carbon fiber tape in terms of value and volume.”
The growth of the aerospace industry is driven by the need for fuel-efficient and technologically advanced aircraft and the appreciation of the US currency that is affecting aircraft purchases. The global fleet size of aircraft is projected to double over the next two decades. Carbon fiber tapes are used on a large scale in the aerospace industry in the form of prepreg tapes. Carbon fiber prepreg tapes have higher strength-to-weight capability than other traditional aerospace materials, and hence, facilitate more efficient designs, structurally and aerodynamically. In addition, high strength, high stiffness, and high abrasion resistance are achieved with carbon fiber tapes in aircraft. They are used in both primary and secondary structures in aircraft.
“North America is the leading carbon fiber tape market in terms of value.”
North America is the largest carbon fiber tape market in terms of value. The key reason for this growth includes the demand for carbon fiber tape in the aerospace & defense industry in the region. The demand for carbon fiber tape in aerospace & defense, sporting goods, marine, and other industries is projected to grow due to product innovation and technological advancements. The growth of the market in this region is further boosted by improved carbon fiber tape composite technology solutions, superior properties, and increasing penetration in various end-use industries.
This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories:
- By Company Type- Tier 1- 35%, Tier 2- 40%, and Tier 3- 25%
- By Designation- C Level- 25%, Director Level- 35%, and Others- 40%
- By Region- North America- 20%, Europe- 35%, Asia Pacific (APAC) - 25%, Latin America-5%, Middle East & Africa (MEA)-15%,
The report provides a comprehensive analysis of company profiles listed below:
- Toray Industries, Inc. (Japan)
- Hexcel Corporation (US)
- Teijin Limited (Japan)
- Mitsubishi Chemical Holdings (Japan)
- SGL Group (Germany)
- Evonik Industries (Germany)
- SABIC (Saudi Arabia)
- Solvay (Belgium)
- Royal DSM (Netherlands)
This report covers the global carbon fiber tape market and forecasts the market size until 2025. It includes the following market segmentation – Resin (Epoxy, Thermoplastic, Bismaleimide, Polyamide, Others), Form (Prepreg Tape, Dry Tape), Manufacturing Process ( Hot Melt, Solvent Dip), End-use Industry (Aerospace & Defense, Marine, Pipe & Tank, Construction & Infrastructure, Sporting Goods, and Others) and Region (Europe, North America, APAC, Latin America, and MEA). Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global carbon fiber tape market.
Key benefits of buying the report:
The report is expected to help market leaders/new entrants in this market in the following ways:
- This report segments the global carbon fiber tape market comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
- The report helps stakeholders understand the pulse of the carbon fiber tape market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisition.
Reasons To Buy the report:
- The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall carbon fiber tape market and the sub-segments.
- This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.