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Unidirectional Tapes Market Growth & Trends
The global unidirectional tapes market size is expected to reach USD 517.9 million by 2027, registering a 14.0% CAGR, according to a new report by Grand View Research Inc. The rapidly rising demand for technologically advanced and fuel-efficient aircraft is expected to improve the application of the product in the aerospace and defense sector, thereby drving the overall market.
Unidirectional (UD) tapes offer superior strength to weight ratio as compared to other conventional aerospace materials. Thus, the UD tapes play a critical role in replacing the metal components in the primary and secondary structures of the aircraft. In addition, these tapes also offer exceptional abrasion resistance and high stiffness, thereby driving the demand.
Advancements in unidirectional tape prepreg technology are expected to enhance the laying up speed for thermoplastics composite parts. The aforementioned composite process development is projected to facilitate the aerospace sector to manufacture composite parts at higher speed and economy, thereby positively impacting the overall product demand.
Key players in the industry are continuously focusing on improving the manufacturing cost of the unidirectional tapes, which has emerged as the major growth constraint for the UD tapes market. In addition, the players are also employing efforts to commercialize the product usage in newly discovered applications, thereby increasing its market potential.
Unidirectional Tapes Market Report Highlights
- Thermoplastic unidirectional tapes segment accounted for the majority of the demand with USD 129.6 million revenue in 2019 owing to the low cost of the product as compared to other resin UD tapes
- Carbon fiber UD tapes segment dominated the market with 80.64% share in 2019 owing to superior strength to weight ratio and impact resistance offered by the tapes
- Sports and leisure end-use segment is expected to witness a notable CAGR of over 14.79% over the forecast period on account of rapidly rising usage of composite materials in the manufacturing of sports goods and equipment
- In 2019, North America market revenue stood at USD 72.4 million and the region is projected to expand at a CAGR of 13.7% over the forecast period owing to the presence of robust manufacturing base for aerospace and defense sector
- Key players in the industry are focusing on enhancement of the production process to make it more economical and also to commercialize the product usage in several novel applications