The Market of Unidirectional Tapes (UD Tapes) is to grow at CAGR 13.1% by 2023

The new report of Stratview Research analyses the Unidirectional Tapes (UD Tapes) Market over the trend period from 2012 to 2017 and forecast period from 2018 to 2023. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards

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The Global Unidirectional Tapes (UD Tapes) Market: The Growth Prognosis & its Drivers
Unidirectional tapes consist of endless fibers orientated in one direction embedded into thermoset or thermoplastic polymer matrix. The global UD tapes market is likely to witness an impressive CAGR of 13.1 % over the next five years, driven by a host of factors including organic growth of aerospace and defense, automotive, and sports & leisure industries coupled with increasing composites penetration in structural and semi-structural sections, excellent mechanical performance, and lightweight as compared to rivals including steel and aluminum. UD tapes are gaining traction in all the major end-use industries including aerospace & defense, automotive, and sporting goods.

Market Segments
The UD tapes market is segmented based on the fiber type as Glass Fiber UD Tapes, Carbon Fiber UD Tapes, and Other UD Tapes. The glass fiber segment is estimated to account for the largest share of the UD tapes market in 2017 and is projected to remain the most dominant segment over the next five years as well. Glass fiber is a low-cost option and offers excellent price-performance ratio to most of the end-use industries including aerospace & defense, automotive, and sporting goods. Additionally, glass fiber UD tapes offer excellent corrosion resistance and are easy to process.

Carbon fiber UD tape, a relatively small segment, is likely to exhibit the highest growth during the same period, driven by an increasing demand for lightweight materials in aerospace & defense and automotive industries. Carbon fiber is lighter in weight as compared to other fibers including glass fiber as well as competing metals including aluminum and steel. Carbon fiber UD tape is gaining traction in the aerospace & defense and sporting goods industries.

Based on the resin type, the UD tapes market is bifurcated into Thermoset UD tapes and Thermoplastic UD tapes. Thermoplastic UD tape is likely to remain the most dominant segment during the forecast period. Most of the aerospace interior components, such as floor panels, seat frames, and luggage bins, are started manufacturing with thermoplastic UD tapes. Thermoplastic UD tapes offer a wide array of benefits such as higher strength-to-weight ratio, excellent toughness, moisture absorption resistance, and ability to survive under high-temperature conditions. They are preferably used in almost all major end-use industries including aerospace & defense and sporting goods. Also, most of the major UD tape manufacturers are primarily manufacturing thermoplastic UD manufacturers.

Based on the end-use industry type, the global UD tapes market is segmented into Aerospace & Defense, Automotive, Sporting Goods, and Others. Aerospace and defense is estimated to hold the largest share of the UD tapes market in 2017 and is expected to remain the largest segment during the forecast period as well. UD tapes bring numerous advantages, such as lightweight, higher strength-to-weight ratio, and excellent corrosion resistance, over their traditional counterparts including aluminum and steel.

Based on regions, North America is projected to remain the most dominant market during the forecast period. The region is the manufacturing hub of aerospace industry with the presence of major aircraft OEMs as well as tier players. Further, major UD manufacturers are headquartered in the region to support the emergent needs of the OEMs. Boeing is the largest procurer of UD tapes in North America.

Europe and Asia-Pacific, other major regions, are also likely to exhibit excellent growth rates in the coming years, driven by a host of factors. Continuous increase in the production rates of A320 family along with new variants and A350XWB is the prime growth driver of the demand for UD tapes in region.

Market Players
The supply chain of this market comprises raw material suppliers, UD tape manufacturers, tier players, aircraft OEMs, airlines, and leasing companies. Major UD tape manufacturers are Evonik Industries, SABIC, Hexcel Corporation, TenCate, Teijin Limited, Celanese Corporation and BASF. Changing market dynamics and competitive landscapes are compelling the market players to keep advancing their materials and work closely with tier players to address their emergent market requirements. Advancement in resin system, collaborations with tier players and OEMs, and execution of mergers and acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

Comprehensive Market Coverage
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This release was published on openPR.