Carbon Fiber Tape Market: Overview and Dynamics
Momentum towards light weighting in automotive and aerospace have surged the demand for new generation hard and lightweight materials. Carbon fiber tapes offer high mechanical performance such as high strength, stiffness and high impact properties due to which it has emerged as ideal material among OEMs. Carbon fiber tapes offers fuzz free production and meet the standards of ski industry. Further, trend of automated production and increased preference of carbon fiber tapes in engineering applications including aerospace, automotive and others are set to fuel the market growth. Attributed to aforementioned facts, global carbon fiber tape market is poised to embark on a positive growth trajectory, registering a CAGR of ~10% over the forecast period (2020-2030).
On the basis of form, prepreg tape has lead the global carbon fiber tape market and is poised to account for major share during the forecast period. Growth is attributed to carbon fiber tape’s excellent strength to weight ratio, high toughness, and corrosion resistance. Increasing consumption of prepreg tape in wings of aerospace and exterior panels of automotive vehicles are set augment the growth of carbon fiber tape market during the forecast period. Further, inline investments by carbon fiber tape market titans like, Saudi Basic Industries Corporation and Boston Materials in high performance carbon composite fibers are set to uplift carbon fiber tape market growth.
COVID Impact Insights
The novel coronavirus pandemic has crippled global economy and forced countries to implement strict social distancing measures. Lockdown in almost every country have ceased production in every sector including carbon fiber tape market. Further, people confined in home has decreased the demand for automotive industry which is a prominent industry for carbon fiber tape market. North America and Europe are the most affected region across the globe accounting for over half of the global fatalities due to which these regions will suffer huge loss in year 2020. However, lockdown ease in some countries may uplift the market growth by the end of 2020.
Segmentation Analysis of Carbon Fiber Tape Market:
The global carbon fiber tape market is bifurcated into three major segments: resin, form, end use industry, and region.
On the basis of resin, carbon fiber tape market has been segmented as follows:
On the basis of form, carbon fiber tape market has been segmented as follows:
- Prepreg Tape
- Dry Tape
On the basis of end use industry, carbon fiber tape market has been segmented as follows:
- Pipe & Tank
- Sporting goods
On the basis of geographic regions, carbon fiber tape market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Carbon Fiber Tape Market: Regional Outlook
The report on the global carbon fiber tape market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. United States being the largest exporter of aerospace products in 2018 due to which it holds for major share in carbon fiber tape market. One the back of United States, North America has dominated the global consumption of carbon fiber tape during the historical period and is set to maintain its supremacy over other regions. East Asia is projected to expand at a leading growth rate over other regions owing to China’s huge investments in electrical vehicle industry. Further, China being the largest automotive and electric vehicle manufacturer it will create significant demand for carbon fiber tape during the forecast period.
Carbon Fiber Tape Market: Key Players
Prominent players in the global carbon fiber tape market are Evonik Industries AG, Hexcel Corporation, Mitsubishi Rayon Carbon Fiber and Composites, PRF Composite Materials, Royal DSM, Saudi Basic Industries Corporation, Boston Materials and Toray Advanced Composites. Market consists of well-established local and global players ruling the market. Companies like Hexcel Corporation, Saudi Basic Industries Corporation and new entrants like Boston Materials have been involved in numerous collaborations, product launches and investments in advanced manufacturing technologies. For instance, in 2020, Hexcel Corporation collaborated with Madshus to manufacture new generation carbon fiber tapes. This new generation product will improve the performance, efficiency and finishing of the ski products.
The research report presents a comprehensive assessment of the carbon fiber tape market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The carbon fiber tape market report provides analysis and information, according to market segments such as geographies, resin, form, and end use industry.
The Carbon Fiber Tape Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Carbon Fiber Tape Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand , Rest of South Asia & Oceania)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Rest of MEA)
The carbon fiber tape report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The carbon fiber tape report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The carbon fiber tape report also maps the qualitative impact of various market factors on market segments and geographies.
The Carbon Fiber Tape Market Report Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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