Carbon Fiber Tape Market to Witness Huge Growth by Key Players: Toray Industries, Inc, Hexcel Corporation, Teijin Limited, Mitsubishi Chemical Holdings, SGL Group

Global Carbon Fiber Tape Market 2020-2025, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. An exclusive data offered in this report is collected by research and industry experts team.

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The global carbon fiber tape market size is projected to grow from USD 1.5 billion in 2020 to USD 2.6 billion by 2025, at a compound annual growth rate (CAGR) of 12.0% between 2020 and 2025. In comparison to conventional materials such as aluminum and steel, carbon fiber tape offers strength, tenacity, density, and thermal and electrical conductivity, fatigue, and corrosion resistance properties.Carbon fiber tape is preferred in high-performance applications in several end-use industries,including aerospace & defense, thereby driving the market. However, the negative impact of the COVID-19 pandemic on the aerospace & defense industry has affected the carbon fiber tape market adversely.

“Epoxy resin is the fastest-growing segment in the carbon fiber prepreg tape market in terms of value.”
Epoxy resin is projected to register the highest CAGR in terms of value between 2020 and 2025.Epoxy is the most widely used resin for carbon fiber prepreg tapes. It is a thermoset resin known for its excellent mechanical, electrical, and high heat resistance properties. It is also available in a wide variety of curing-agent variations. It has better physical, mechanical, and adhesion properties and low shrinkage compared to other resins.

“Hot melt is the largest manufacturing process for carbon fiber prepreg tape in terms of value and volume.”
In the hot melt manufacturing process, heat and pressure are used to impregnate fibers with resin. It is also an environment-friendly process due to the use of water-based and solvent-free adhesives. In the hot melt process, resins with a very low percentage of solvents are used for the manufacturing of carbon fiber prepreg tapes.

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“Prepreg tape is the largest form of carbon fiber tape in terms of value.”
Prepreg tapes are mainly used in aerospace and sporting goods industries for manufacturing wing spars, fuselage skins, bicycle frames, golf shafts, and others. They are also used in wind energy, automotive, pipe & tank, and medical industries for turbine blades, cosmetic components, prosthetics, and other applications. The emergence of new technologies, such as automatic fiber placement and automated tape laying, has provided precise, quick, and economical composite layups for the production of composite parts.

“Aerospace & defense is the largest end-use industry of carbon fiber tape in terms of value and volume.”
The growth of the aerospace industry is driven by the need for fuel-efficient and technologically advanced aircraft and the appreciation of the US currency that is affecting aircraft purchases. The global fleet size of aircraft is projected to double over the next two decades. Carbon fiber tapes are used on a large scale in the aerospace industry in the form of prepreg tapes. Carbon fiber prepreg tapes have higher strength-to-weight capability than other traditional aerospace materials, and hence, facilitate more efficient designs, structurally and aerodynamically.

“North America is the leading carbon fiber tape market in terms of value.”
North America is the largest carbon fiber tape market in terms of value. The key reason for this growth includes the demand for carbon fiber tape in the aerospace & defense industry in the region. The demand for carbon fiber tape in aerospace & defense, sporting goods, marine, and other industries is projected to grow due to product innovation and technological advancements.

The report provides a comprehensive analysis of company profiles listed below:
• Toray Industries, Inc. (Japan)
• Hexcel Corporation (US)
• Teijin Limited (Japan)
• Mitsubishi Chemical Holdings (Japan)
• SGL Group (Germany)
• SABIC (Saudi Arabia)
• Solvay (Belgium)
• Royal DSM (Netherlands)

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This release was published on openPR.