$300+ Million Unidirectional Tapes (UD Tapes) Market - Global Forecast to 2023
DUBLIN, June 20, 2018 /PRNewswire/ --
The "Unidirectional Tapes (UD Tapes) Market by Fiber Type (Glass, Carbon), Resin (Thermoplastic, Thermoset), End-use Industry (Aerospace & Defense, Automotive, Sports & Leisure), and Region (North America, Europe, Asia Pacific) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The unidirectional tapes (UD Tapes) market is estimated at USD 165.8 million in 2018 and is projected to reach USD 316.3 million by 2023, at a CAGR of 13.79%.
The market is driven by the wide use of UD tapes in end-use industries, such as aerospace & defense, automotive, and sports & leisure.
Based on fiber, the glass fiber segment is estimated to account for the largest share of the UD tapes market in 2018. Glass fiber UD tapes are easy to process and manufacture as compared to carbon fiber, which are very difficult to process. Glass fiber-based UD tapes are preferable over carbon fiber UD tapes as they provide a quick and affordable way to build parts & molds and make repairs. Government regulations such as CAF Standards in the US and carbon emission targets in Europe are putting pressure on automotive OEMs to incorporate lightweight materials to reduce the overall vehicle weight. Such factors are the key drivers for the glass fiber UD tapes market.
Thermoplastic UD tapes is expected to be the largest segment, by resin, during the forecast period. Thermoplastic UD tapes are used in a large number of industries, including aerospace & defense and sports & leisure. These are widely used in the aerospace & defense industry due to their toughness, high strength, moisture absorption resistance, high performance properties, and ability to survive under high temperature conditions.
Based on end-use industry, the aerospace & defense segment is estimated to account for the largest share of the UD tapes market in 2018. UD tapes are also used in aircraft seat frames as they help reduce the weight of aircraft seats by 30% in comparison to traditional aluminum frame seats. They are also used in lightweight sandwich panels for ultralight aircraft. According to Airbus, there will be a global increase in the aircraft demand; for 28,200 new built freighters and passenger aircraft between 2012 and 2031. This increased aircraft demand includes the demand from the developing markets, such as Asia Pacific, South America, and Africa. This will drive the demand for UD tapes in the aerospace & defense industry.
The North America UD tapes market is expected to witness strong growth in the next five years. The demand for lightweight, fuel-efficient aircraft is increasing, which will drive the demand for UD tapes in the aerospace & defense industry. The launch of new aircraft such as Boeing 777x and China's indigenously build aircraft Comac C919 is also expected to drive the demand for UD tapes in the near future. UD tapes are also used in lightweight sandwich panels for ultralight aircraft. These factors will drive the demand for UD tapes.
North America accounts for a major share of the overall UD tapes market. Major factors driving the growth of the North America UD tapes market include the high demand for UD tapes in the US and Canada. This is due to the growing demand for UD tapes in commercial passenger aircraft. They are used in the manufacturing of Airbus A380 and Boeing 787 aircraft. According to Boeing, there will be 7,290 airplane deliveries between 2014 and 2033 in North America. Bombardier (Canada) has projected that North America will be the largest market, in terms of new commercial aircraft deliveries, with 3,650 aircraft deliveries between 2014 and 2033. This increase in demand for aircraft will contribute to the growth of the UD tapes market.
However, the difficulty in recycling glass fiber is a restraining factor, especially in the automotive sector where the pressure to recycle is high.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Market Players
4.2 Unidirectional Tapes (UD Tapes) Market, By Fiber
4.3 Unidirectional Tapes (UD Tapes) Market, By Resin
4.4 Unidirectional Tapes (UD Tapes) Market, Developed vs Developing Countries
4.5 North America Unidirectional Tapes (UD Tapes) Market, By End-Use Industry and Country
4.6 Unidirectional Tapes (UD Tapes) Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand From Aerospace Industry
5.2.1.2 Increasing Demand From Automotive Industry for Manufacturing Lightweight Vehicles
5.2.2 Restraints
5.2.2.1 Issues Related to Recyclability
5.2.3 Opportunities
5.2.3.1 Increasing Use of Unidirectional Tapes (UD Tapes) in New and Emerging Applications
5.2.4 Challenges
5.2.4.1 High Manufacturing and Processing Cost of Unidirectional Tapes (UD Tapes)
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Overview and Key Trends
5.4.1 Trends and Forecast of GDP
5.4.2 Trends in the Aerospace Industry
5.4.3 Trends in Automotive Industry
6 Unidirectional Tapes (UD Tapes) Market, By Resin
6.1 Introduction
6.2 Thermoplastic Unidirectional Tapes (UD Tapes)
6.2.1 Polyether Ether Ketone (PEEK)
6.2.2 Polyamide
6.2.3 Others
6.3 Thermoset Unidirectional Tapes (UD Tapes)
6.3.1 Epoxy
6.3.2 Others
7 Unidirectional Tapes (UD Tapes) Market, By Fiber
7.1 Introduction
7.2 Glass Fiber
7.3 Carbon Fiber
8 Unidirectional Tapes (UD Tapes)Market, By End-Use Industry
8.1 Introduction
8.2 Aerospace & Defense
8.3 Automotive
8.4 Sports & Leisure
8.5 Others
9 Unidirectional Tapes (UD Tapes) Market, By Region
10 Competitive Landscape
10.1 Overview
10.2 Competitive Scenario
10.2.1 New Product Launch
10.2.2 Expansion
11 Company Profiles
- Evonik Industries
- Sabic
- Solvay
- Hexcel Corporation
- Royal Tencate
- SGL Group
- Teijin Limited
- Celanese Corporation
- BASF
- Victrex
- Cristex
- Eurocarbon
- PRF Composite Materials
- TCR Composites
- Sigmatex
- Axiom Materials
- Barrday
- Oxeon AB
For more information about this report visit https://www.researchandmarkets.com/research/6zmmhj/300_million?w=5
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