Carbon Fiber Tape Market Growth & Forecast | 2022-28

Market Insights

The carbon fiber tape market is likely to grow from USD 1.58 billion in 2021 to reach USD 3.53 billion by 2028 at a healthy CAGR of 12.11% during the forecast period.

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Drivers

• The growing demand for carbon fiber tapes from aerospace, marine, sporting goods, and new product launches undertaken by various companies.
• The rise in demand for lightweight vehicles is one of the major factors during the sales.

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What is Carbon Fiber Tape?

Carbon Fiber Tape is made up of carbon and is available in the form of flat material. One of the basic properties of carbon fiber tape is that it is lesser in weight than steel of the same strength, i.e., about one-seventh of steel. Also, it has higher durability than steel.

Carbon Fiber Tape is processed in the forms of a hot melt process and solvent dip process. Aerospace, marine, sporting goods, pipe & tank, construction, and infrastructure are some of the industries where carbon fiber tape is being used now.

Key Players

Some of the major players in the market are-

• Royal TenCate
• Saudi Basic Industries Corporation (SABIC)
• Evonik Industries AG
• Zoltek Corporation
• Solvay SA
• Mitsubishi Rayon Carbon Fiber and Composites
• Hexcel Corporation
• Teijin Limited
• SGL Group
• Royal DSM
• PRF Composite Materials

Segment Analysis

By Form Type

The market is segmented into prepreg tape and dry tape. The prepreg tapes shares more than 76.7% in 2021.  The growth is attributed to the growing demand for prepreg tapes in various end-use industries such as sporting goods, aerospace, and automotive. The tape bears remarkable strength-to-weight-ratio, elevated toughness, and offers corrosion-fatigue resistance.

By End-Use Industry Type

The market is segmented as aerospace, marine, pipe & tank, sporting goods, construction & infrastructure, and others. The aerospace and defense share more than 47.6% in 2021. The growth is attributed to the increasing demand for lightweight and strong-hi-performance materials.

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By Region

North America shares more than 35.0% in 2021. The market is sustained by the growing demand for premium performance materials in the aerospace industry. Asia-Pacific is also estimated to offer sizeable growth opportunities during the forecast period. China and India are the growth engines of the region.

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Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories. 

By Form Type:

• Prepreg Tape 
• Dry Tape

By Resin Type:

• Epoxy
• Polyamide 
• Bismaleimide
• Thermoplastic Resin 
• Others
  • (Resin Type Analysis: Polyurethane Resin, Vinyl Ester, and Polyester)

By Manufacturing Process Type:

• Hot Melt Process
• Solvent Dip Process 

By End-Use Industry Type:

• Aerospace
• Marine 
• Pipe & Tank 
• Sporting Goods 
• Construction & Infrastructure 
• Others
  • (End-Use Industry Analysis: Medical, Automotive, and Wind Energy)

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

COVID-19 scenario analysis

Owing to the outbreak of the COVID-19 pandemic, the global carbon fiber tape market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdowns, which has led to the shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown. In addition, owing to delays of ongoing projects and nonarrival of raw materials, the recent decline in the aerospace industry is one of the key factors that are likely to negatively impact the growth of the carbon fiber tape market. Moreover, companies are dealing with missing sales and disrupted supply chains as production activities are shut down. 

Research Methodology

This report offers high-quality insights and is the outcome of a 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 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides 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 dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle and supply chain analysis
• Report environment analysis: Growth drivers and constraints, Porter’s five forces and SWOT analysis
• Trend and forecast analysis
• Segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors.

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 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the resin types by end-use industry type.  

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 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 sales@stratviewresearch.com