PUNE, India, August 15, 2017 /PRNewswire/ --
According to a new market research report Carbon Fiber Tape Market by Form Type, End-use Industry (Aerospace, Marine, and Sporting Goods), and Region - Global Forecast to 2022" published by MarketsandMarkets™, the market is projected to reach USD 2.52 Billion by 2022, at a CAGR of 11.95% from 2017 to 2022.
Browse 76 Market Data Tables and 51 Figures spread through 143 Pages and in-depth TOC on "Carbon Fiber Tape Market"
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The excellent properties, such as high abrasion, wear resistance, high modulus; high strength, high stiffness, low density, chemical resistance, and low creep have contributed to the high demand for carbon fiber tape.
The aerospace segment leads the carbon fiber tape market
Carbon fiber tape is widely used in aircraft components and structures due to its superior properties such as high strength, high stiffness, and high abrasion. It also has strength-to-weight capability compared to other traditional aerospace materials. Increasing demand for carbon fiber tapes in the production of primary and secondary structures of aircraft, such as wing spars, wing skins, fuselage skin, access panels, conduit, and flooring is driving the carbon fiber tape market. Carbon fiber tape is extensively used in Airbus A380, A350, and Boeing's B-787. The launch of new aircraft, such as Boeing 777x and China's indigenously build aircraft Comac C919 will boost the demand for carbon fiber tape in the near future.
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The carbon fiber prepreg tape segment accounts for a major share in the carbon fiber tape market
Carbon fiber tape is of two types, such as prepreg tape and dry tape. Prepreg tape is pre-impregnated with resin especially epoxy resin to enhance its physical and mechanical properties. Dry tape can be adhesive backed or without any adhesive. Dry tape weighs one seventh as much as for steel for given strength. This tape is extensively used in the aerospace and sporting goods industry which holds a significant market share in the carbon fiber tape market. Carbon fiber prepreg tape provides superior properties such as excellent strength-to-weight ratio, high stiffness, high toughness, and corrosion and fatigue resistance.
Epoxy resin based carbon fiber prepreg tape comprises a major share in the carbon fiber prepreg tape market in terms of value
Epoxy resin based carbon fiber prepreg tape is the leading type of carbon fiber prepreg tape used across various industries, such as aerospace, sporting goods, automotive, and wind energy. The epoxy resin based carbon fiber prepreg tape provides excellent mechanical, electrical, and high heat resistance properties. They have better physical, mechanical, and adhesion properties and low shrinkage compared to other resins. Also, it has fast curing time compared to other thermoset resins, which makes it the preferred choice among the end-use industries.
North America is the largest market for carbon fiber tape
North America is the largest market for carbon fiber tape globally due to the increased demand for carbon fiber tape from aerospace, marine, pipe & tank, medical, and automotive industries. Low-interest rates, the presence of established players, and stringent environmental regulations emphasizing on the use of lightweight composite materials are expected to drive the market. The country has the presence of major carbon fiber tape manufacturers such as Hexcel Corporation, Saudi Basic Industries Corporation, 3M, and Zoltek who are engaged in the production of high-quality carbon fiber tape. The demand for carbon fiber tape is also increasing due to increasing usage of lightweight materials by Boeing, which is one of the major aircraft manufacturers in the North American region.
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Some of the key global players operating in the Carbon Fiber Tape Market are Royal TenCate (Netherlands), Zoltek (Japan), Teijin Limited (Japan), Mitsubishi Rayon Carbon Fiber and Composites (Japan), SGL Group (Germany), Saudi Basic Industries Corporation (US), and 3M (US). These players adopted new product launch as their development strategy. For instance, Saudi Basic Industries Corporation launched UDMAX tape which helped the company complement its existing range of thermoplastic composite products.
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