Thermoplastic Tape Market is projected to reach USD 3.0 Billion by 2029 With Rising Demand

The market for thermoplastic tapes is anticipated to reach USD 3.0 Billion by 2029 at a CAGR of 4.7% from USD 2.2 Billion in 2022. The global thermoplastic tapes market will account for roughly 23.9% of the US$73.6 billion adhesive tapes industry in 2022.

According to the FMI analysis, the market for thermoplastic tapes will grow at a rate of 1.4 times the value of the base year throughout the projection period, providing manufacturers with profitable investment prospects. According to the market analysis of thermoplastic tapes, the total amount of thermoplastic tape consumed globally is anticipated to rise by 4.5% YoY between 2022 and 2023.

Manufacturers Foresee Lucrative Opportunities in East Asia

Europe will continue to hold a prominent share in the thermoplastic tape market. However, high growth opportunities are expected in East Asia in 2021 and beyond. China is anticipated to represent high incremental opportunity and maximum growth rate in the region. With mounting environmental concerns, the government in the country are continuously imposing regulations to reduce dependency on fossil fuel, which led to increased adoption of composites in automotive and aircraft manufacturing. As a result, thermoplastic tape is likely to gain significant traction in the East Asian countries.

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Industry Leader's Perspective:

According to R&D Vice President of Arkema - leading player in the thermoplastic tape market, carmakers in Europe are focusing on the development of lighter vehicles by replacing metal components with composites, in order to achieve the carbon emissions cap for new cars which will drop from 130 grams to 95 grams per kilometre by 2020. The company's thermoplastic is set to be a part of this solution, by offering lightweight, efficient, recyclable properties.

PAEK Resin Family Remain a Material of Choice

By thickness, thermoplastic tape of 0.21-0.40 mm is expected to hold prominent value share in the market. Although it remains the most common thickness range used in the end-use industries, manufacturers are likely to focus on offering varying range of thickness to sustain the demand for different applications.
On the basis of material, PAEK is a widely used resin family in thermoplastic tape, followed by polyamide resin. According to the manufacturers, high quality composites are formed when these materials are combined with carbon or glass fibers. However, the carbon-reinforced fiber provides more strength to thermoplastic tapes as compared to the glass-reinforced fiber.
By end-use industry, significant adoption by the automotive industry will continue to account for relatively high sales.
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Competitive Landscape

The key manufacturers operating in the thermoplastic tapes market are trying to focus on innovative product launch, expansion due to the increasing demand from the automotive and aerospace sectors.

In May 2021, Teijin Limited launched a new carbon fiber thermoplastic unidirectional pre-impregnated tape. This tape is based on PPS.
In Feb 2021, MaruHachi Corporation installed a new UP tape line for high-temperature thermoplastic tapes and multi-layer sheet laminates for demanding segments such as aerospace and automotive.
Thermoplastic Tape Market: Vendor Insights

The report highlights prominent market players who have established themselves as market leaders in the global thermoplastic tape market. Some of the key players operating in the global market are

Evonik Industries AG,
Toray Industries Inc.,
Solvay S.A.,
Teijin Ltd.,
Mitsui Chemicals Inc. and
Sabic Corporation, among others.
The global thermoplastic tape market is considered as consolidated with some market players holding prominent share of the market. Manufacturers in the thermoplastic tape market are investing in expansions and mergers to expand their product portfolio as well as their foothold in the market.

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Table of Content

Executive Summary
1.1. Global Market Analysis

1.2. Global Market Outlook

1.3. Analysis and Recommendations

Market Introduction
2.1. Market Definition

2.2. Market Coverage

Key Market Trends
3.1. Key Trends Impacting the Market

3.2. Product Innovation

Key Success Factors
4.1. Product Adoption Analysis

4.2. Product USPs / Features

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Thermoplastic Tape Market

This release was published on openPR.