Global Carbon Fiber Tape Market, By Form Type (Prepreg Tape and Dry Tape), Resin Type (Epoxy, Polyamide, Bismaleimide, Thermoplastic and Others), Manufacturing Process (Hot Melt and Solvent Dip), End-Use Industry (Aerospace and Marine, Wind Energy, Sporting Goods, Construction and Infrastructure and Others) – Industry Trends and Forecast to 2029.
Carbon Fiber Tape Market Analysis and Size
In last few years, the demand for carbon fiber tape, mainly in developing countries, is the major reason for the market's growth. The “epoxy resin” is the highest growing resin type segment due to its superior properties such as insulation, elasticity, transmissivity, chemical resistance, fatigue resistance, and toughness during the forecast period. Moreover, the progressively growing construction sector has been at the fore of the growing carbon fiber tape sales.
Data Bridge Market Research analyses that the carbon fiber tape market was valued at USD 1.66 billion in 2021 and is expected to reach USD 3.69 billion by 2029, registering a CAGR of 10.51% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Carbon Fiber Tape Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Form Type (Prepreg Tape and Dry Tape), Resin Type (Epoxy, Polyamide, Bismaleimide, Thermoplastic and Others), Manufacturing Process (Hot Melt and Solvent Dip), End-Use Industry (Aerospace and Marine, Wind Energy, Sporting Goods, Construction and Infrastructure and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Evonik Industries AG (Germany), Teijin Limited (Japan), SGL Group (Germany), DSM (Netherlands), SABIC (Saudi Arabia), Solvay (Belgium),Hexcel Corporation (U.S.), Toray Industries Inc, (Japan) 3M (U.S.), BASF SE (Germany), Covestro AG (Germany), Dow (U.S.), Borealis AG (Austria), ZOLTEK (U.S.), Celanese Corporation (U.S.)
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Market Opportunities
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Market Definition
Carbon fibre tape is a flat material that is made up of carbon fiber that weighs as much as 1/7 as steel for a given strength. Carbon fiber tape is a reinforcement tape that contains many parallel carbon fibers that lightly bound together. These are light in weight and exhibit high stiffness and strength.
Global Carbon Fiber Tape Market Dynamics
Drivers
- Increase in demand due to unique features
The carbon fiber tapes have massive demand in the market because it provides versatile features such as lightweight, high stiffness, high tensile strength and absolute residue removal. These are also industrial tapes because they can sustain outdoor applications, especially in logistics and construction industries, which further increase the popularity and adoption of carbon fiber tape among end users.
- Growing demand of carbon fiber tape in aviation industry
Carbon fiber tapes provide exceptional properties such as high impact resistance and superior strength-to-weight ratio, thus effectively manufacturing composite parts for both primary and secondary structure of the aircraft. Furthermore, the composite parts are manufactured by automated laying up of tapes, leading to the economical production of aircraft parts with superior aesthetics. The increasing demand for carbon fiber tape in the aviation industry is expected to drive the market's growth.
Opportunities
- Rising demand of light weight vehicle
Increase in demand for lightweight automobiles is one of the major factors driving carbon fiber tape sales. As per the published report of U.S. Department of Energy, a 10% reduction in automobile weight can result in a 6% to 8% fuel economy improvement. Carbon fiber tape-based composites are feasible lightweight substitutes to metals. In the automotive industry, thermoplastic-based tapes with endless carbon fiber reinforcements are used in the automotive exterior and interior applications. Carbon fiber tapes usually are 60% lighter than their counterparts. This material also reduces automobile weight in transportation applications, thus leading to energy decrease through fuel savings. This is projected to drive the demand for the lightweight materials such as carbon fiber tapes during forecast period.
Moreover, the increasing application scope from several end user industries such as aerospace and marine, construction and infrastructure, wind energy, sporting goods, and others will flourish many opportunities for the growth of the carbon fiber tape market during forecast period.
Restraints/ Challenges
- High cost associated with carbon fiber tape
The high price of carbon fiber and high costs associated with research and development activities will dampen the market's growth rate. Developing low-cost technologies will also obstruct the growth rate of the carbon fiber tape market.
Moreover, a lack in raw material demand and supply due to the lockdown will pose a significant challenge to the growth of the carbon fiber tape market.
This carbon fiber tape market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the carbon fiber tape market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Carbon Fiber Tape Market
The outbreak of covid-19 has created ripples across the global aerospace industry. This also affected the global supply chains, which move components and materials rapidly across borders. This has resulted in disrupted financial flows, delays or non-arrival of raw materials, and increasing absence of production line workers. These factors have affected the world’s largest commercial aircraft providers, Airbus and Boeing, and their constellation of suppliers. Airbus had zero orders in February 2020. Boeing did not have any orders in January 2020.The loss of the aerospace and defence industry has directly affected the growth of the carbon fiber tape market as it is a main end user industry of carbon fiber tape.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In February 2019, Teijin acquired Renegade Materials Corporation, a heat-resistant thermoset prepreg supplier for the aerospace sector in North America. This aided the company solidify to its position as a leading supplier of solutions for aerospace applications.
Global Carbon Fiber Tape Market Scope
The carbon fiber tape market is segmented on the basis of form type, resin type, manufacturing process and end-use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Form Type
- Prepreg Tape
- Dry Tape
Resin Type
- Epoxy
- Polyamide
- Bismaleimide
- Thermoplastic
- Others
Manufacturing Process
- Hot Melt
- Solvent Dip
End-Use Industry
- Aerospace and Marine
- Wind Energy
- Sporting Goods
- Construction and Infrastructure
- Others
Carbon Fiber Tape Market Regional Analysis/Insights
The carbon fiber tape market is analysed and market size insights and trends are provided by country, form type, resin type, manufacturing process and end-use industry as referenced above.
The countries covered in the carbon fiber tape market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the carbon fiber tape market in terms of revenue. This is due to the rise in the research and development activities. The increase in demand for carbon fiber tape due to the expansion of manufacturing and production of electric vehicles is also the major reason for the growth of the market in this region.
Asia-Pacific is anticipated to be the fastest developing region during the forecast period of 2022-2029 due to the high economic growth in the emerging economies and abundant availability of raw materials in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Carbon Fiber Tape Market Share Analysis
The carbon fiber tape market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to carbon fiber tape market.
Some of the major players operating in the carbon fiber tape market are:
- Evonik Industries AG (Germany)
- Teijin Limited (Japan)
- SGL Group (Germany)
- DSM (Netherlands)
- SABIC (Saudi Arabia)
- Solvay (Belgium)
- Hexcel Corporation (U.S.)
- Toray Industries Inc., (Japan)
- 3M (U.S.)
- BASF SE (Germany)
- Covestro AG (Germany)
- Dow (U.S.)
- Borealis AG (Austria)
- ZOLTEK (U.S.)
- Celanese Corporation (U.S.)
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