This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Unidirectional (UD) Tape market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario.
The UD Tape Market: Highlights
UD tapes are composed of endless fibers that are orientated in one direction impregnated with a polymer resin matrix. The number of layers depends upon the rigidity and strength required for the component. UD tapes offer a significant reduction in weight and also help various industries (aerospace and automotive) to reduce carbon emissions. 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 have been widely used across industries, as they are cheaper, highly reactive, and exhibit 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.
The rapid transmission of coronavirus across the globe has brought forth unprecedented challenges for several industries. The aerospace industry, which is the major demand generator of UD tapes, is one of the worst-hit industries. The overall supply chain disruption, halts in production, cancellation of orders from airlines, and strict travel restrictions have incurred major losses and stagnation for several players in the industry across the value chain.
The UD tape market is expected to move parallelly with the aerospace industry’s trajectory as the industry holds the lion’s share of the market. Our estimates suggest that the market is likely to take a nose-dive in 2020, followed by a steady path towards recovery in the next five years to reach an estimated value of US$ 3.1 billion in 2026.
UD tapes’ inherent set of benefits over competing metals such as steel, aluminum, and composite materials (compounds, fabric prepregs, etc.) are one of the key factors contributing to the long-term growth of the market. The changing market dynamics of each industry with perpetual demand for lightweight, durable, and high-performing materials may further reinforce the demand for UD tapes. Moreover, the expected rebound in commercial aircraft production backed by the huge order backlog of 12,724 (Airbus: 7,539 and Boeing: 5,185) as of July 2020 is expected to give a thrust to the UD tape demand.
Based on the end-use industry type, Stratview Research has segmented the market as aerospace & defense, wind energy, consumer goods, automotive, oil & gas, and others. Aerospace & defense is anticipated to be preponderant in the market in the years to come. Despite taking a huge plunge in 2020, the segment’s market is expected to redeem itself with the fastest recuperation during the forecast period. With the growing penetration of composite materials in the aerospace & defense industry, 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.
Based on fiber type, the market is segmented into carbon fiber prepreg, glass fiber prepreg, and other prepregs. 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 tape.
In terms of region, North America is projected to remain the largest market 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 tape, not only in North America but also in the world. The country is the largest market for UD tapes in the aerospace & defense industry.
After recording a huge decline in 2020, Asia-Pacific is anticipated to heal at the fastest rate during the forecast period. Upcoming commercial aircraft program (C919), the opening of assembly plants in China by Boeing and Airbus, and the opening of assembly plants of automotive OEMs are the demand boosters of UD tapes in the region. Furthermore, the region holds the leading position in the consumer goods UD tapes market with a continued shift of manufacturing base from the developed regions to the Asian region.
The supply chain of this market comprises raw material suppliers, UD tape manufacturers, tier players, 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
Research Methodology
This report offers high-quality insights and is 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 700 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.
Report Features
This report provides market intelligence most comprehensively. 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:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
The UD tapes market is segmented into the following categories.
UD Tapes Market, by End-Use Industry
- Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Wind Energy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Consumer Goods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
UD Tapes Market, by Resin Type
- Thermoset UD Tapes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Thermoplastic UD Tapes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
UD Tapes Market, by Fiber Type
- Carbon Fiber UD Tapes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Glass Fiber UD Tapes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Other UD Tapes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
UD Tapes Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]
