The global market for carbon fiber tape, in terms of value, is projected to reach USD 2.52 Billion by 2022, at a CAGR of 11.95% from 2017 to 2022
In terms of volume, the global market for carbon fiber tape is projected to reach 24,480.0 tons by 2022, at a CAGR of 13.01% during the forecast period. The increasing demand for carbon fiber tape from aerospace, sporting goods, and marine industries, and new product launches undertaken by the major companies are driving the carbon fiber tape market.
Prepreg tape accounted for the largest market share in the carbon fiber tape market, by form type. This is because this tape is extensively used in aerospace, sporting goods, and automotive industries. This tape provides excellent strength-to-weight ratio, high stiffness, high toughness, and corrosion fatigue resistance.
The aerospace industry of the global carbon fiber tape market is projected to grow at the highest CAGR from 2017 to 2022. This can be attributed to the growing need for lightweight, strong, and stiff materials. Many aircraft manufacturers such as Boeing (US) and Airbus (France) have entered into agreements with airlines such as Ethiopian Airlines, and Spice Jet for the supply of aircrafts. This will increase the demand for carbon fiber tape by aircraft manufacturers. Commercial aircraft are increasing the use of carbon fiber tapes in wing manufacturing and repairing that will drive carbon fiber tape market in the aerospace industry in the near future.
The North American region holds the largest share in the carbon fiber tape market. This is due to the rising demand for superior performance materials in the aerospace industry. The greater strength-to-weight capability and excellent fatigue tolerance of carbon fiber tapes allow for more structurally efficient and aerodynamic aircraft designs. Carbon fiber tape provides superior properties such as high abrasion, wear resistance, high modulus, high strength, high stiffness, low density, chemical resistance, and low creep.
Presence of prominent manufacturers of carbon fiber tape such as Hexcel Corporation (US), Solvay (US), and among others in the region also fuel the market growth.
Increase in the Use of Carbon Fiber Tape in Primary and Secondary Aircraft Structures
Superior Properties Offered By Carbon Fiber Tape
Multifunctional Carbon Fiber Tapes for Automotive Composites
High Processing and Manufacturing Cost of Carbon Fiber
Increasing Usage of Carbon Fiber Tape in New Applications
Growing Demand From Emerging Markets
Developing Low-Cost Technologies
Key Topics Covered:
2 Research Methodology iangulation
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Macroeconomic Overview
7 Carbon Fiber Tape Market, By Form
8 Carbon Fiber Prepreg Tape Market, By Resin
9 Carbon Fiber Prepreg Tape Market, By Manufacturing Process