Carbon Fiber Tape Market Analysis | 2022-2028

Market Insights

The carbon fiber tape market was estimated at USD 1.58 billion in 2021 and is likely to grow at a CAGR of 12.11% during 2022-2028 to reach USD 3.53 billion in 2028.

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Market Dynamics

Introduction

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.

COVID-19 Impact

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. 

Market Drivers

The carbon fiber tape market  is driven by a host of factors, some of which are noted below:

• 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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Key Players

The following are the key players in the carbon fiber tape market:

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

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Form Type

"Prepreg tapes share more than 75% in 2021"

The market is segmented into prepreg tape and dry tape. The prepreg tapes share more than 75% 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 a remarkable strength-to-weight ratio, elevated toughness, and offers corrosion-fatigue resistance.

By End-Use Industry Type

"Aerospace share more than 45% in 2021"

The market is segmented as aerospace, marine, pipe & tank, sporting goods, construction & infrastructure, and others. The aerospace share more than 45% in 2021. The growth is attributed to the increasing demand for lightweight and strong high-performance materials.

Regional Analysis 

"North America shares more than 35% in 2021"

North America shares more than 35% 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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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s carbon fiber tape market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• 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 15 detailed primary interviews with 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 in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for 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, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 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 carbon fiber tape market is segmented into the following categories:

By Form Type 

• Prepreg Tape
• Dry Tape

By Resin Type 

• Epoxy
• Polyamide
• Bismaleimide
• Thermoplastic Resin
• Others

By Manufacturing Process Type 

• Hot Melt Process
• Solvent Dip Process

By End-Use Industry Type 

• Aerospace
• Marine
• Pipe & Tank
• Sporting Goods
• Construction & Infrastructure
• Others

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, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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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 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 to sales@stratviewresearch.com.