Global Carbon Fiber Tapes Market Size Insights Forecasts to 2032
- The Global Carbon Fiber Tapes Market Size was valued at USD 2.1 Billion in 2022.
- The Market Size is Growing at a CAGR of 13.9% from 2022 to 2032
- The Worldwide Carbon Fiber Tapes Market Size is expected to reach USD 5.3 Billion by 2032
- Europe is expected to grow the fastest during the forecast period.
Get more details on this report -
The Global Carbon Fiber Tapes Market Size is expected to reach USD 5.3 Billion by 2032, at a CAGR of 13.9% during the forecast period 2022 to 2032.
Carbon fibre tapes are thin, flexible sheets or strips constructed of polymers reinforced with carbon fibre. High-strength carbon fibres are used in them, which are then incorporated in a polymer matrix, usually epoxy resin. The excellent strength-to-weight ratio and rigidity of carbon fibres are well recognised. They provide reinforcement to different materials when utilised in tapes, improving the structural integrity of those materials. To reduce weight and improve structural performance, carbon fibre tapes are utilised in aviation and spacecraft components. Due to their light weight and strength, they can be found in medical equipment and gadgets including X-ray tables and patient positioning systems.
Impact of COVID 19 On Global Carbon Fiber Tapes Market
The pandemic caused severe disruptions in sectors including aerospace and automobile, which are big consumers of carbon fibre tapes. Lockdowns and travel restrictions caused a decline in the demand for cars and air travel, which in turn had an impact on the market for carbon fibre products. Global supply networks were interrupted by the pandemic, which had an impact on the price and availability of raw materials including carbon fibres and resins. This in turn had an effect on the creation and cost of carbon fibre tapes. Some businesses in sectors including aerospace and automotive temporarily changed their focus from carbon fibre tape-related projects to producing necessities like personal protective equipment (PPE) and medical gadgets. The pandemic caused numerous infrastructure and building projects to be postponed or abandoned, which had an effect on demand.
Global Carbon Fiber Tapes Market Report Coverage
|Market Size in 2022:||USD 2.1 Billion|
|Forecast Period 2022-2032 CAGR:||13.9%|
|2032 Value Projection:||USD 5.3 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Form, By End Use, by Region and COVID-19 Impact|
|Companies Covered:||Evonik Industries, SABIC, Solvay, Hexcel Corporation, Royal Tencate, Teijin Limited, BASF SE, Celanese Corporation, SGL Group, Victrex, Cristex, Eurocarbon, PRF Composite Materials, TCR Composites, Sigmatex, and other key vendors.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth & Analysis.|
Get more details on this report -
Key Market Drivers
In order to increase fuel efficiency, lower emissions, and improve overall performance, lightweighting is becoming more and more important in sectors including aircraft, automotive, and wind energy. Due of its high strength-to-weight ratio, carbon fibre tapes are a popular option for achieving these objectives. In the aerospace sector, carbon fibre composites, including tapes, are frequently utilised for aircraft parts such wings, fuselages, and interior structures. The need for carbon fibre tapes has increased as a result of the expansion of air travel and the creation of lightweight, fuel-efficient aircraft. To reduce weight and improve safety, automakers are increasingly adding carbon fibre composites to their automobiles. In order to achieve these goals, carbon fibre tapes are employed in interiors, chassis parts, and body panels.
Key Market Challenges
Carbon fibres, particularly those of high grade, can be pricey. For several businesses, this expense poses a substantial barrier to entry, which restricts the use of carbon fibre tapes in price-sensitive areas. There are restrictions on the availability of precursor materials and the capacity of carbon fibre production facilities, and the synthesis of carbon fibres is resource-intensive. Price volatility and a lack of supplies may result from this. The complex manufacturing procedures and specialised equipment needed to produce carbon fibre tapes can raise production costs and reduce the number of companies that can produce high-quality tapes. High energy use and emissions are involved in the manufacture of carbon fibre. Despite the fact that carbon fibre composites use less gasoline in industries like automotive and aerospace, they are nevertheless more environmentally friendly.
Form Type Insights
Prepreg Tapes segment is dominating the market over the forecast period
On the basis of form type, the global carbon fiber tapes market is segmented into Dry Tapes, Prepreg Tapes. Among these, the prepreg tapes segment is dominating the market with the largest market share over the forecast period. Due to the strict requirements for lightweight, high-strength materials in aircraft building, the aerospace sector has been a major driver of prepreg tape demand. Prepreg tapes are employed in several parts, such as wings, internal structures, and aircraft fuselages. Prepreg tapes are being used more frequently in the automobile sector for things like body panels made of carbon fibre reinforced plastic (CFRP), chassis elements, and interior components. The industry's attempts to lighten vehicles and increase fuel efficiency are aided by these uses. Prepreg tapes are also used in the production of composite wind turbine blades, which is a part of the wind energy industry. These tapes contribute to the development of renewable energy sources by enhancing blade performance and longevity. To keep up with the rising demand, some producers have increased their prepreg tape production capacity.
End Use Insights
Aerospace and defence segment holds the highest market share over the forecast period
Based on the end use, the global carbon fiber tapes market is segmented into Aerospace & Defense, Automotive. Among these, aerospace and defence holds the highest market share over the forecast period. Carbon fibre tapes are utilised in a number of structural parts of aircraft, spacecraft, and military hardware. Fuselages, wings, tail sections, internal components, and radomes are just a few examples of the places where the tapes are used to add rigidity and strength while minimising weight. The aerospace and defence sectors have adopted cutting-edge manufacturing methods like automated tape laying (ATL) and automated fibre placement (AFP) in order to effectively construct complicated forms and structures out of carbon fibre tapes. The demand for lightweight and high-strength materials has increased as space exploration programmes, run by both government space agencies and private businesses, have expanded. In the manufacture of spacecraft and satellite parts, carbon fibre tapes are used.
North America is dominating the market over the forecast period
Get more details on this report -
North America is dominating the market with the largest market share over the forecast period. The aerospace sector is one of the largest in North America, especially in the United States. The usage of carbon fibre tapes in aerospace applications, including airframes, wings, and interior components, is driven by the need for lightweight and high-strength materials in the manufacture of aircraft. For lightweighting goals, the North American automotive industry has been gradually implementing carbon fibre composites, including tapes. In order to increase fuel efficiency and lower emissions, carbon fibre tapes are used in high-performance cars, electric cars, and sports car components. The region has a well-established tape production and supply chain for carbon fibre materials and composites. The development of the market is supported by this infrastructure.
Europe is witnessing the fastest market growth over the forecast period. With organisations like Airbus situated there, Europe boasts a robust aerospace sector. The usage of carbon fibre tapes in aerospace applications has been pushed by the demand for lightweight materials to reduce aircraft weight and increase fuel efficiency. In order to reduce vehicle weight and comply with rigorous emissions standards, the European automobile sector has adopted carbon fibre composites, including tapes, more frequently. Carbon fibre has been used extensively by producers of luxury and high-performance vehicles.
Recent Market Developments
- In February 2019, Renegade Materials Corporation, a provider of extremely heat-resistant thermoset prepreg for the aerospace sector, was bought by Teijin Limited.
List of Key Companies
- Evonik Industries
- Hexcel Corporation
- Royal Tencate
- Teijin Limited
- BASF SE
- Celanese Corporation
- SGL Group
- PRF Composite Materials
- TCR Composites
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Carbon Fiber Tapes Market based on the below-mentioned segments:
Carbon Fiber Tapes Market, Form Type Analysis
- Dry Tapes
- Prepreg Tapes
Carbon Fiber Tapes Market, End Use Analysis
- Aerospace & Defense
Carbon Fiber Tapes Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of Carbon Fiber Tapes Market?The global Carbon Fiber Tapes Market is expected to grow from USD 2.1 Billion in 2022 to USD 5.3 Billion by 2032, at a CAGR of 13.9% during the forecast period 2022-2032.
2. Who are the key market players of Carbon Fiber Tapes Market?Some of the key market players of Evonik Industries; SABIC; Solvay; Hexcel Corporation; Royal Tencate; Teijin Limited; BASF SE; Celanese Corporation; SGL Group; Victrex; Cristex; Eurocarbon; PRF Composite Materials; TCR Composites; Sigmatex.
3. Which segment hold the largest market share?Prepreg tapes segment holds the largest market share is going to continue its dominance.
4. Which region is dominating the Carbon Fiber Tapes Market?North America is dominating the Carbon Fiber Tapes Market with the highest market share.
Need help to buy this report?