Carbon Fiber Tape Market Size, Development Status, Top Manuf...| MENAFN.COM

Monday, 05 December 2022 07:00 GMT

Carbon Fiber Tape Market Size, Development Status, Top Manufacturers, And Forecasts 2022-2031

(MENAFN- America News Hour)

“The global market for carbon fiber tape is expected to grow at a CAGR of over 6% during the forecast period. Major factor driving the market studied is the rapidly increasing demand from aerospace industry. On the flip side, high processing and manufacturing cost of carbon fiber and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

The aerospace & defense industry is expected to dominate the global carbon fiber tape market over the forecast period.

North America is expected to dominate the global carbon fiber tape market during the forecast period owing to the increasing consumption from countries such as United States, and Canada.

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Key Market Trends

Increasing demand from Aerospace & Defense Industry

– Carbon fiber tape owing to their properties such as high strength, stiffness, heat & chemical resistivity, and various other thermal and chemical properties etc. is used in aerospace and defense applications.
– The demand for aircraft is increasing across the world, and the aerospace industry is aiming to introduce innovative solutions to improve manufacturing time and save costs.
– Lightweight materials and composites are being employed largely to reduce the usage of traditional aluminum. Each kilogram saved reduces fuel consumption and lowers the operating cost and aircraft's ecological footprint.
– Therefore, manufacturers are focusing on composite solutions to meet the need to reduce weight and increase the fuel efficiency. Additionally, the growth in commercial aerospace market is likely to lead to the development of new aircraft production programs in emerging countries, especially in China.
– Furthermore, owing to the rising air traffic across the world, the production of aircraft by major manufacturers has been increasing since the past decade.
– Carbon fiber tapes are used in defense for aircraft applications, owing to their properties such as toughness, and recyclability advantage.
– This, in turn, is expected to increase the demand for carbon fiber tape from the aerospace & defense industry in recent times.

North America Region to Dominate the Market

– North America region is expected to represent the largest market for carbon fiber tape over the forecast period.
– The United States aerospace sector represents the largest aerospace sector in the world. According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037 from 7,039 in 2016, owing to the growth in air cargo. Additionally, the United States mainliner carrier fleet is expected to grow at a rate of 54 aircrafts per year, with the existing fleet getting older.
– The construction industry in the United States witnessed a rapid growth over the past few years, as a result of increased private sector spending on residential construction. Furthermore, about 20 million households are projected to be constructed over the next decade.
– The increasing aircraft and helicopter manufacturing activities in Canada from major players, such as Bombardier, Pratt & Whitney Canada, Bell Helicopter Textron Canada Limited, and ExelTech Aerospace, are augmenting the growth of revenues from aerospace manufacturing sector, in turn, supporting the growth of the carbon fiber tape market.
– The Canadian construction industry is the second largest in North America; and is expected to improve and grow at a decent pace, till 2024.
– In Mexico, the number of aerospace companies are growing at a rapid rate and even the government has been providing incentives and support programs for international players entering the country.
– Around 80% of the firms in the aerospace sector in Mexico deal with the manufacturing of products while the remaining 20% deal with MRO services. Despite absence of large aircraft production activities in Mexico, production of aircraft components and R&D is prevalent in the country.
– Hence, the growing end-user industries is expected to boost the demand for Carbon fiber tape in North American region over the forecast period.

Competitive Landscape

The global carbon fiber tape market is partially consolidated in nature. The major companies are Evonik Industries AG, Solvay, Hexcel Corporation, TORAY INDUSTRIES, INC, and Cevotec GmbH among others.

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1.1 Study Assumptions
1.2 Scope of the Study



4.1 Drivers
4.1.1 Rapidly Increasing Demand from Aerospace Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 High Processing and Manufacturing Cost of Carbon Fiber
4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5.1 Type
5.1.1 Prepreg Tape
5.1.2 Dry Tape
5.2 Resin Type
5.2.1 Epoxy
5.2.2 Polyamide
5.2.3 Vinyl Ester
5.2.4 Polyurethane
5.2.5 Others
5.3 End-user Industry
5.3.1 Aerospace & Defense
5.3.2 Automotive
5.3.3 Building & Construction
5.3.4 Marine
5.3.5 Energy
5.3.6 Others
5.4 Geography
5.4.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.4.2 North America United States Canada Mexico
5.4.3 Europe Germany United Kingdom Italy France Rest of Europe
5.4.4 South America Brazil Argentina Rest of South America
5.4.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa

6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Cevotec GmbH
6.4.2 Chomarat
6.4.3 Evonik Industries AG
6.4.4 Hexcel Corporation
6.4.5 Itecma
6.4.6 SABIC
6.4.7 Siltex
6.4.8 Solvay
6.4.9 Teijin Limited


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