Carbon Fiber Tapes Market 2020 and Forecast 2021-2027

                                          
Report Overview: Carbon Fiber Tapes Market


The global carbon fiber tapes market size was estimated at USD 1.7 billion in 2020 and expected to grow at a compound annual growth rate (CAGR) of 13.3 % from 2021 to 2027. The emergence of carbon fiber as one of the critical materials for enabling lightweight construction of automotive and aerospace components expected to drive the market in the future. Carbon Fiber (CF) tape is one of the popular materials used for manufacturing composite parts for automotive and aerospace equipment. Advancements in carbon fiber tapes expected to lead the incorporation of other properties such as de-icing, shielding, self-repair, energy storage, and stealth, thereby enabling the manufacturing of multi-functional carbon fiber tapes.

The U.S. exhibits a major demand for carbon fiber tapes backed by the long-term production schedules of the Boeing and Airbus aircraft programs. In addition, undergoing research on improving the production of composite parts in the country further expected to offer growth opportunities for the market in the U.S.

Carbon fiber tapes are recognized as clean energy technologies owing to their position as facilitating materials for several initiatives of the U.S. Department of Energy and Office of Energy and Renewable Energy. In addition, incorporation of this material also enables a weight reduction of vehicles in transportation applications leading to energy reduction through fuel savings.

Researchers are focusing on the advancement of the recycling process for long recycled CF, which expected to preserve the length of the fiber as well as enable the load-related fiber orientation. The aforementioned effort is expected to facilitate the industry players to exploit the full potential of carbon thereby positively influence the demand for carbon fiber tapes in the future.

Presently, limited production capacity along with higher production costs are the major factors restraining the growth of the market for carbon fiber tapes. However, the major players across the globe are employing to strategies expand their production capacities to cater to the rising demand for carbon fiber tapes, which in turn is expected to positively impact the market revenue growth in the future.

Form Insights: Carbon Fiber Tapes Market

The prepreg tapes led the market and accounted for more than 79.0% of the global revenue in 2019. Unidirectional prepreg carbon fiber tapes are ideal for fabricating composite parts that require thick laminate construction and long-layup time. As a result, these tapes are highly suitable for infrastructure, industrial, medical, and sports & leisure applications.

The use of prepreg tapes for manufacturing components offer exceptional strength properties and allows part uniformity and repeatability. In addition, the use of prepreg carbon fiber tapes bleeds lesser resin during the curing process, takes lesser curing time, and offers superior aesthetics thereby positively impacting the overall market growth.

The dry tape segment is also one of the most popular categories in the carbon fiber tapes market that is likely to witness a CAGR of 12.7% from 2021 to 2027. The aforementioned tapes produce lesser mess during production and cater to tight tolerances for width and aerial weight, thus posing high growth opportunities.
Dry carbon fiber tapes offer a cost and production rate optimized taping solutions providing mechanical properties comparable with prepreg tapes without an autoclave. As a result, these tapes are well suited for automated production in a broader range of automotive, winter sports, aerospace & industrial applications.


End-use Insights: Carbon Fiber Tapes Market


The aerospace and defense segment led the market and accounted for more than 49.0% of the global revenue in 2019. Rising use of CF materials in Boeing Dreamliner and Airbus 350 expected to offer positively influence the demand for carbon fiber tapes, thereby driving the overall market growth over the forecast period 2021-2027.
Carbon fiber tapes offer exceptional properties such as superior strength to weight ratio, and high impact resistance thus offers utility in manufacturing composite parts for the primary and secondary structure of the aircraft. In addition, the composite parts manufactured through automated laying up of tapes lead to the economical production of parts with superior aesthetics.

Automotive end-use is also one of the most popular categories in carbon fiber tapes, which is expected to register a CAGR of 13.4 % over the forecast period. The CF materials have found applications in almost every supercar, hypercar, and luxury sports car in production to reduce weight, improve handling performance, and enhance fuel efficiency.

Carbon fiber tapes are used in high-end cars where performance is the critical factor driven by a lower center of gravity, drive experience, and aesthetics. These tapes find applications in components including primary structure, internal and external body, roof structures, and panels. Moreover, these tapes witnessing rising penetration in the manufacturing of components for smaller cars.

Regional Insights: Carbon Fiber Tapes Market

North America lead the market and accounted for over 36.0% share of the global revenue. The U.S. hosts the presence of top aircraft manufacturers complemented with the robust production capacity of carbon fiber tapes. Thus, the growth potential of aerospace sector is expected to positively influence the growth of the market.
Mexico is also witnessing rapid expansion of aerospace manufacturing and maintenance, repair & overall, owing to the entry of global players such as Bombardier in the economy. In addition, the economy is also witnessing rapid growth in automotive production, thereby providing growth opportunities to the market.

In Europe, the market is expected to witness the fastest CAGR of 13.3% from 2021 to 2027. The top automotive OEM brands in the region are employing efforts to replace conventional metal components using advanced materials with lower weight and high strength. Hence, it is expected to curb emission and enhance the fuel efficiency of the vehicles.
Europe is one of the most impacted regions owing to the spread of the corona pandemic, which in turn has led to a significant decline in automotive and aerospace production in the region. Moreover, the uncertainty regarding the post-COVID situation is expected to and the required interval to recover normal production levels in the region is expected to negatively impact the market for carbon fiber tapes.

Key Companies & Market Share Insights: Carbon Fiber Tapes Market

The industry is competitive owing to the presence of several well-established market players with a strong foothold in the industry. The industry characterized by the long-term contract of manufacturers with the application industries. Moreover, the industry is witnessing a trend of forward integration, since the raw material suppliers are entering in to tapes manufacturing.

The CF tapes industry is currently witnessing a limited production capacity. Key industry players are employing efforts to expand their production capacity. The rapidly extending scope for application of carbon fiber tapes in the various end-use industry will complemented by the increased production capacity, thereby heightening the overall sales revenue. Some of the prominent players in the carbon fiber tapes market include:

Key companies Profiled: Carbon Fiber Tapes Market Report

 	
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

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global carbon fiber tapes market on the basis of form, end use, and region:

Form Outlook (Volume, Thousand Sq.M; Revenue, USD Million, 2016 - 2027)

 	
Dry Tapes
 	
Prepreg Tapes

End-use Outlook (Volume, Thousand Sq.M; Revenue, USD Million; 2016 - 2027)

 	
Aerospace & Defense
 	
Automotive
 	
Sports & Leisure
 	
Other Applications