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Unidirectional Tapes (UD Tapes) Market likely to grow at an impressive CAGR 13.1% by 2023, as estimated by Stratview Research

11-12-2019 12:36 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Stratview Research

Unidirectional Tapes (UD Tapes) Market likely to grow at

Stratview Research in its recent report has offered an overlook of the current Unidirectional Tapes (UD Tapes) Market scenarios and has also estimated the Unidirectional Tapes (UD Tapes) Market to grow at an impressive CAGR 13.1% by 2023. The insights highlighted in the report are based on data that is carefully collected from reliable sources and is then scrutinized to have a proper analysis.
Not only the report offers the market size but also details about the market segmentation with its share. Stratview Research also extends its research to offer a forecast of the market during the period of 2018 – 2023, to provide the clients with base knowledge of the market and make strategies to have beneficial results ahead.

Click here for a Free Sample of the report (additional insights inside):
https://www.stratviewresearch.com/Request-Sample/347/Unidirectional-Tapes-Market.html

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.

Click here for description of the report:
https://www.stratviewresearch.com/347/Unidirectional-Tapes-Market.html

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. Composite materials have a disruptive journey of more than five decades in the aerospace industry where the penetration of materials escalated from merely 4% to more than 50% in next-generation aircraft. UD tapes also witnessed an increased penetration in various sections of an aircraft including interior components, such as seat frames. Additionally, there has been a sustainable demand for new aircraft to support the rising passenger traffic. For instance; Boeing anticipated that there will be a total delivery of 41,030 commercial aircraft during 2017-2036. This expected increase in aircraft delivery will majorly be driven by demand from the developing economies of regions such as Asia-Pacific, South America, and Africa, which, in turn, is estimated to drive the demand for UD tapes in the segment.
The automotive industry, another considerable segment, is likely to be the fastest-growing segment of the market during the same period. Premium vehicles and electric vehicles are likely to procure most of the UD tapes in this segment in the coming years. Stringent government regulations regarding fuel efficiency enhancement and carbon emission reductions, such as CAFÉ standards, are likely to drive the demand for lightweight materials including UD tapes in the segment in the coming years.
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.

Check out the Table of Contents here:
https://www.stratviewresearch.com/toc/347/Unidirectional-Tapes-Market.html

Highlights of the Report:
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.
Similarly, high demand for commercial and regional aircraft in Asia-Pacific is stimulating aircraft OEMs to open their assembly plants in the region, especially China. Both, Airbus and Boeing, are opening assembly plants of their best-selling aircraft models in the country. Concurrently, local players are also developing aircraft to meet the huge local demand. For instance; COMAC is developing C919 narrow-body aircraft in China, whereas Mitsubishi is developing MRJ regional aircraft in Japan. Additionally, continuous shift of sporting goods manufacturing from developed regions to China and Taiwan is creating an additional opportunity for UD tape manufacturers in the region.
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.

Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Unidirectional Tapes (UD Tapes) Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Stratview Research
400 Renaissance Center,
Suite 2600,
Detroit, Michigan, MI 48243
United States of America
Phone No. +1-313-307-4176
sales@stratviewresearch.com

Know more about us and our reports:
Stratview Research has been offering its insightful reports and custom researches to the interested clients in some of important industry sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. The data is collected for the reports is collected from reliable sources and is analysed carefully to come up with an end result that is resourceful and worthy for the interesting clients.

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