Global Carbon Fiber Tapes Market Size study & Forecast, by Form (Dry Tapes, Prepreg Tapes) by End-use (Aerospace & Defense, Automotive, Sports & Leisure, Other Applications) and Regional Analysis, 2022-2029

Global Carbon Fiber Tapes Market Size study & Forecast, by Form (Dry Tapes, Prepreg Tapes) by End-use (Aerospace & Defense, Automotive, Sports & Leisure, Other Applications) and Regional Analysis, 2022-2029

Global Carbon Fiber Tapes Market is valued at approximately USD 2.31 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.4% over the forecast period 2022-2029. Carbon fiber tape is a type of strengthening tape made of thousands of parallel carbon fibers that are slightly bonded together. The use of fiber tape is ideal for lap joining, sleeve winding, selective strengthening of carbon fiber fabrications, and fixing fissures in graphite surfaces. It6 widely utilized material in the production of composite parts for automotive and aerospace components is carbon fiber tape as it offers properties such as light weight, high strength, and high rigidity. The rising focus on clean energy technologies, increasing application in aerospace, coupled with the growing awareness regarding the properties of carbon fiber tapes are the key factors that are stipulating the market demand across the globe.

In addition, the surge in the adoption of carbon fiber tapes in primary and secondary aircraft structures is further acting as a catalyzing factor for the market growth in the worldwide market. For instance, in the latest generations of aircraft, like the Airbus A380, Boeing 777x, and Boeing 737 MAX, carbon fiber tapes are highly utilized. The wing spars, wing skin, and six-section panels for the wing box of the recently introduced aircraft MS- 21 by Russian company Irkut, were made from carbon fiber tapes. Carbon fiber tapes account for 58% to 60% of the aircraft wing's carbon fiber material. The novel design of aircraft in the future is anticipated to benefit market growth at a substantial rate. Moreover, the rising penetration of carbon fiber tapes in new applications, as well as the growing focus on the advancement of the recycling process are presenting various lucrative opportunities over the forecasting years. However, the high processing and manufacturing cost of carbon fiber and the transition of thermosetting resin to thermoplastic resin in prepreg carbon fiber tape is challenging the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Carbon Fiber Tapes Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the increasing number of leading manufacturers of aircraft, along with the thriving expanding aerospace & defense industry. Whereas, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising focus on replacing conventional metal components through utilizing advanced materials with lower weight and high strength, as well as growing R&D investment in the market space.

Major market players included in this report are:
Evonik Industries
SABIC
Solvay
Hexcel Corporation
Royal Tencate
SGL Group
Teijin Limited
BASF SE
Celanese Corporation
Victrex

Recent Developments in the Market:
In November 2021, Solvay and 9T Labs AG declared that the companies entered into a partnership agreement. Under this collaboration, Solvay focuses on the development of CF-reinforced bio-based high-performance polyamides, carbon fiber-reinforced polyetheretherketone (CF/PEEK), and CF-reinforced polyphenylene sulfide (CF/PPS) composite materials. The partnership significantly strengthens the variety of neat and carbon fiber-reinforced materials portfolio that 9T Labs currently provides to customers.

In January 2020, Hexcel announced that the company entered into a collaborative agreement with Madshus, a leading innovator in the world of cross-country skiing. Based on specific design criteria for various cross-country ski types, the business offers Madshus three different Hi Tape products. The performance, efficiency of production, and surface polish of Madshus' skis are enhanced by Hexcel's innovative HiTape dry carbon tapes.

Global Carbon Fiber Tapes Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Form, End-use, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Form:
Dry Tapes
Prepreg Tapes
By End-use:
Aerospace & Defense
Automotive
Sports & Leisure
Other Applications

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned
Evonik Industries
SABIC
Solvay
Hexcel Corporation
Royal Tencate
SGL Group
Teijin Limited
BASF SE
Celanese Corporation
Victrex

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