Carbon Fiber Tape Market worth US$ 4.4 billion by 2027- Exclusive Report by MarketsandMarkets™

CHICAGO, Dec. 21, 2022 /PRNewswire/ -- The global "Carbon Fiber Tape Market by Form (Prepreg Tape, Dry Tape), Resin (Epoxy, Thermoplastic, Polyamide), Manufacturing Process (Hot Melt, Solvent Dip), End-use Industry (Aerospace, Marine, Pipe & Tank, Sporting Goods), and Region - Global Forecast to 2027", size is expected to grow from USD 2.4 billion in 2022 to USD 4.4 billion by 2027, at a CAGR of 13.0%, during the forecast period. Owing to an increase in the demand for high-performance materials with properties, such as high strength-to-weight ratio, good tensile strength, and electrical conductivity coming from aerospace and marine industries, the global carbon fiber tape market is expected to witness significant growth during the forecast period.

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130– Tables
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180– Pages

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Prepreg form is projected to dominate the global carbon fiber tape market during the forecast period.

Prepreg tapes are mainly being used in aerospace and sporting goods industries for different applications such as manufacturing of wing spars, fuselage skins, bicycle frames, golf shafts, and others. Prepreg tapes are good for rapidly building part thickness with higher manufacturing output at a lower cost. Prepreg tapes are also being used in different end-use industries like automotive and pipe & tanks. Adaptation of new technology viz. automated tape laying has proved to be an economical way of manufacturing prepreg carbon fiber tapes.

The epoxy resin comprises a major share of the carbon fiber prepreg tape market in terms of value and volume.

Epoxy is the most widely used resin for carbon fiber prepreg tapes. It is a thermoset resin known for its excellent mechanical, electrical, and high heat resistance properties. It is also available in a wide variety of curing-agent variations. Epoxy resin with carbon fiber reinforcement is primarily used in applications in the transportation and aerospace & defense industries. It has a fast-curing time compared to other thermoset resins, which makes it a preferred choice across end-use industries. Carbon fiber prepreg tapes formulated using epoxy resin as a matrix have improved toughness, impact strength, and resistance to moisture and corrosion.

The hot melt manufacturing process is expected to grow at the highest CAGR during the forecast period in terms of both value and volume.

Heat and pressure are used in order to let the fibers absorb the resins in the hot melt process. It is an eco-friendly way of manufacturing carbon fiber prepreg tapes because it requires a water-based and solvent-free adhesive. Hot melt manufacturing process results is a method commonly being used for the manufacturing of unidirectional carbon fiber tapes. A very less amount of solvent is required in this process along with it high-speed production of carbon fiber tapes. Unidirectional carbon fiber tapes are being used in aerospace, sporting goods, marine, wind energy, medical, and other industries, and with the growth of these end-use industries, Hot melt process is expected to grow at a higher CAGR when compared to the Solvent dip process.

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The aerospace & defense end-use industry dominated the global carbon fiber tape market in terms of value.

The demand of carbon fiber tapes coming from the aerospace industry is the largest among the demand coming from other end-use industries like pipe & tanks, marine, etc. This is because of the high strength-to-weight ratio of carbon fiber tapes if compared to steel and aluminum. Due to this property of carbon fiber tapes, aircraft manufacturers can manufacture more efficient designs, structurally and aerodynamically.  In addition, high strength-to-weight ratio, carbon fiber tapes exhibit high stiffness and high abrasion resistance in aircraft. They are used in both primary and secondary structures in aircraft. It is mainly used in applications, such as in wing spars, wing skins, fuselage skin, access panels, rib stiffeners, brackets, conduit, and flooring.

North America was the largest carbon fiber tape market in terms of value in 2021.

North America was the largest carbon fiber tape market in terms of value in 2021. The key reason for this growth includes the demand for carbon fiber tape in the aerospace, pipes & tanks and other end-use industries in the region. US being the most dominant market in North America region has a huge demand for carbon fiber tapes coming from the aerospace & defense sector. Low-interest rates, the presence of established players, and stringent environmental regulations emphasizing the use of lightweight composite materials are also expected to drive the market in the North American region.

Market Players

Some of the key players in the global market include are Teijin Ltd. (Japan), Toray Industries, Inc (Japan), Hexcel Corporation (US), Mitsubishi Chemical Holdings (Japan), and SGL Group (Germany) and others.

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