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UD Tapes Market I Forecast I Competitive Analysis
This comprehensive report, from Stratview Research, studies the UD tapes market over the trend period of 2014 to 2019 and the forecast period of 2020 to 2025. The report estimates the current and future demand for UD tapes at the global, regional, and country-level. The report also studies all the major suppliers of UD tapes across the globe. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of low-hanging fruits as well as formulate growth strategies.
The Unidirectional Tapes Market: Highlights
UD tapes are composed of endless fibers that are orientated in one direction impregnated with a polymer resin matrix. UD tapes are layered together to form a laminate or a component. The number of layers depends upon the rigidity and strength required for the component. UD tapes offer a significant reduction in weight and also helps various industries (aerospace and automotive) to reduce carbon emissions. The UD tape is made by impregnating carbon fiber, glass fiber, aramid fiber or natural fiber stacked together in one direction, with a thermoset or thermoplastic resin.
Over the decades, thermoset UD tapes are more widely used across various industries, as they are cheaper, highly reactive and have ease of impregnation. High usage of carbon fiber/epoxy composites in the aerospace industry owing to their lightweight, high strength and modulus, and excellent fatigue performance; is also one of the major factors behind the dominance of thermoset UD tapes in the market. Thermoset UD tapes are widely used for making primary aerostructures such as fuselage and wings of the next-generation aircraft programs as they offer maximum strength and stiffness in one direction which is the desired property for large structures. In recent years, thermoplastic UD tapes are gaining traction in a wide array of applications as they offer higher toughness, high chemical resistance, easier & quicker in consolidation, quick cycle time, recyclability, and unlimited shelf life.
UD tapes represent less than 1% of the total composite materials market in terms of volume; however, it is anticipated to grow at one of the highest rates in years to come. Stratview Research’s estimates suggest that the market is set to grow at an attractive CAGR of 6.1% over the next five years to reach an estimated value of US$ 3.9 billion in 2025. Several factors are behind this growth of UD tapes in a wide array of end-use industries in which inherent benefits of UD tapes over competing metals including steel, aluminum and composite materials, such as compounds and fabric prepregs has been the biggest driver across industries. The changing market dynamics of each industry is further reinforcing the demand for UD tapes.
Increasing production rates of composites-rich aircraft programs (B787 and A350XWB) coupled with the development of fuel-efficient variants of the best-selling aircraft programs (A320neo, B737 Max, B777x, A330neo, E-2 jet, etc.) is propelling the demand for composite materials in the aerospace industry. With the increasing demand for composite materials, there has been a greater urge for automation in the manufacturing processes in order to address the increasing demand. AFP and ATL processes are such technologies that can lay prepreg materials at a much faster rate than laying prepreg materials manually and have been efficacious in gaining consequential shares in the aerospace prepreg market. UD tapes (slit and UD tape) are the materials of choice for such manufacturing processes.
Similarly, increasing demand for energy with a high focus on renewables is giving another impetus to the demand for UD tapes. Wind energy has been one of the most talked renewable energy sources. Governments of all the major economies are investing heavily by setting wind energy targets, assuring a sustainable demand for composite materials. Furthermore, wind turbine manufacturers are developing wind turbines with higher MW capacity for which they have been increasing the wind turbine blade length. The role of UD tape is pivotal in developing large-size blades at a lower weight. UD tapes are increasingly preferred in crucial blade sections, such as spar cap.
Automotive is another industry that is likely to be an epicenter of composite industry stakeholders including UD tape suppliers. The demand for composite materials has been increasing in the industry because of favourable government policies, such as CAFÉ standards and EU directives on carbon emission reductions. Electric and premium vehicles are witnessing the greatest penetration of composite materials including UD tapes.
On the basis of fiber type, the market is segmented into carbon fiber UD tapes, glass fiber UD tapes, and other UD tapes. Carbon fiber UD tape is likely to remain the growth engine of the market during the forecast period. Aerospace & defense, automotive, consumer goods, and wind energy are likely to remain the major markets for carbon fiber UD tapes in years to come; however, aerospace & defense to remain the biggest market. Both thermoset and thermoplastics are gaining momentum in carbon fiber UD tapes.
On the basis of end-use industry, the market is segmented into, aerospace & defense, automotive, consumer goods, wind energy, oil & gas, and others. Aerospace & defense is expected to remain the dominant segment, whereas automotive is expected to witness the highest growth during the forecast period. UD tapes have witnessed an increased penetration in various sections of an aircraft, such as in wings, fuselage, clips, clits, brackets, and profiles. Airbus anticipated that 39,210 new passenger and freight aircraft will be needed over the next 20 years (38,360 passenger aircraft and 850 freighter aircraft) during 2019-2038. Increasing demand for aircraft in emerging economies and continuous increase in global military expenditure are the major growth drivers.
In terms of region, North America is projected to remain the largest market for UD tapes during the forecast period. North America is the largest manufacturing hub of the aerospace industry, backed up by Boeing, Airbus, Lockheed Martin Corporation, and Gulfstream Aerospace Corporation. The USA is estimated to remain the biggest demand generator of UD tapes not only in North America but also in the world. The country is the largest market for UD tapes in the aerospace & defense industry, marine, construction, and other end-use industries.
Asia-Pacific is projected to be the fastest-growing market for UD tapes during the forecast period. Upcoming commercial and regional aircraft, such as C919 and MRJ, the opening of assembly plants in China by Boeing and Airbus, and opening of assembly plants of automotive OEMs in the region are the major growth drivers of the UD tapes market in the region.
The supply chain of this market comprises of raw material suppliers, UD tape manufacturers, tier player, and end-user OEMs. The key players in the UD tapes market are BASF SE, CELANESE CORPORATION, Evonik Industries AG, Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites, Inc., SABIC, SGL Carbon SE, Solvay S.A., TEIJIN LIMITED, and Toray Industries, Inc. Advancements in the resin system, new product development, collaboration with tier players/OEMs, and execution of mergers and acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The market is segmented into the following categories:
Unidirectional Tapes Market, By Fiber Type:
Unidirectional Tapes Market, By Resin Type:
Unidirectional Tapes Market, By End-Use Industry Type:
Unidirectional Tapes Market, By Region:
Report Customization Options
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