Industry Overview
The global unidirectional tapes market is expected to grow from USD 2.74 billion in 2023 to 7.93 billion by 2030 at a compound annual growth rate (CAGR) of 16.3% during the forecast period ranging from 2024 to 2030.
Unidirectional tapes are specific types of tapes made from composite materials and are manufactured using different thermoplastics. These tapes usually are known for excessive tensile strength all along the length of the tape, higher efficiency, and greater stiffness in one particular direction due to the unidirectional carbon fibers within a resin matrix and therefore are used for selective reinforcement. These tapes are excessively used in specific applications such as aerospace and automotive industries due to their enhanced structural performance, lightweight nature, and customized properties.
The global unidirectional tapes market is expected to grow at a significantly high rate during the forecast period due to the widespread adoption and use across a wide range of industry verticals such as defense, aerospace, automotive, and others due to their higher chemical resistance.Moreover, the strict regulationsof the governments to promote the use of sustainable and eco-friendlymaterials in a wide range of applications is also propelling the market growth.
The high cost involved in the manufacturing and processing of these tapes is considered to be the most significant restraint in the growth of unidirectional tapes market. This high cost is mainly attributed to the high cost of raw materials and labor. However, innovative manufacturing technologies by using collimated raw strands into the prepreg machinecombined with molten resins using heat and pressure will allow easy discharge. This will reduce the cost of manufacturing significantly, opening novel growth opportunities for the global unidirectional tapes market.
Market Segmentation
Insight by Type of Fiber
The global unidirectional tapes market is divided on the basis of type of fiber into glass and carbon types. Out of these two segments, the glass fiber category is expected to hold a larger share in the market during the forecast period due to easier manufacturing process, easy availability, and low cost as compared to the carbon fiber type, though both possess competitive physical properties including strength and stiffness, high toughness, and low density.
Insight by Resin
The global unidirectional tapes market is divided on the basis of resininto thermoplastic and thermoset categories. Out of these two categories, the thermoplastic tapes segment is expected to grow at a faster rate during the projected period due to its widespread use in across several industries for its beneficial properties such as high toughness, higher strength, higher moisture absorption resistivity, and others. It is also attributed to its higher adoption in the aerospace and defense industry.
Insight by End-User
The global unidirectional tapes market is divided on the basis of different endusers into aerospace and defense, automotive, sports and leisure, and other segments. Out of them, the aerospace and defense category is expected to grow at a higher rate in the forecast period due to growing demand for lightweight materials for higher fuel efficiency in aircrafts. On the other hand, the sports and leisure category is also expected to grow at a higher rate due to growing demand for high strength equipment to optimize performance and superior properties of these tapes such as good chemical resistance, high impact strength,and more.
Global Unidirectional Tapes Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2023
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U.S.D. 2.74 Billion
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Revenue Forecast in 2030
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U.S.D. 7.93 Billion
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Growth Rate
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16.3%
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Segments Covered in the Report
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By Type of Fiber, By Resin, By End-User
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World
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Industry Dynamics
Industry Trends
One of the most significant developments in the industry is the approval of new unidirectional tape by the National Centre for Advanced Materials Performance (NCAMP) to be used in the aerospace industry. This new tape is made from a combination of new type of carbon fiber and thermoplastic resin technology to create the composite materials that will minimize aircraft weightage, energy usage, and increase longevity. In addition, strategic partnerships among industry partners and development of new prepreg to manufacture new and more lightweight composite materials are notable industry trends.
Growth Drivers
The growing demand and widespread use for these takes from specific types of industries is one significant factor that influences the growth of the global unidirectional tapes market. It is also attributed to the higher adoption of these tapes in developing countries due to the significant growth in the use of commercial passenger aircraft. In addition, the rise in its use in the blades of wind turbines for higher strength and durability in automotive industry to improve vehicle efficiency and performance, developments in resin and fiber technologies, significant manufacturing and product development, and growing environmental concerns are also facilitating the market growth.
Challenges
The global unidirectional tapes market growth is hindered by the gradual saturation of the market, possibilities of economic bubbles due to higher price of assets, depletion of resources, growing environmental concerns, economic inequality affecting consumer spending, and growing regulatory scrutiny that affects the operational costs.
Opportunities
The continuous tech developments and innovations drives among the market players offer significant growth opportunities to the market. In addition, the efforts among the market players for mergers &acquisitions to expand their reach and gain a competitive edge over their competitors is also presenting novel growth opportunities to the market.
Geographic Overview
The North Americas market is expected to account for the largest share in the market during the forecast period and continue growing due to the high economic growth and the significant increase in investment in the aerospace and defense industry. In addition to that, the growing demand for lightweight, more fuel efficient, and technologically advanced solutions propels the market growth in this region.
On the other hand, the Asia-pacific market will also grow at a significant rate during the projected period due to the higher investments by the major automakers in the region in R&D to develop lightweight automotive components to reduce the overall weight of vehicles. It is also attributed to the rapid developments in the production of electric vehicles which needs better bonding materials including unidirectional tapes.
Competitive Insight
Performance Composites, Inc. provides composite solutions. The Company offers engineering, design, project management, masters, molds, fixtures, and composite material selection services. Performance Composites operates in the States of California and Nevada.
Advanced Composites Group Ltd. designs and manufactures pre-impregnated fibre reinforced composites. The Company offers tooling blocks, adhesives, fillers, coatings, tooling prepregs, gel coats, backing structures, component prepregs, adhesive films, and ancillary materials. Advanced Composites also provides services including component manufacture and component prototyping.
Performance Composites Inc., Composites Evolution Ltd., SGL Group, Evonik Industries, Hexcel Corporation, SGL Group, Celanese Corporation, SABIC, PRF Composite Materials, and BASF SE are some of the major players operating in unidirectional tapes industry.
Recent Developments by Key Players
Composites Evolution Ltd. has partnered with leading natural fibre reinforcement specialists Bcomp to launch a new range of flax-epoxy prepreg materials, designed to offer enhanced sustainability without compromising on performance.
Arkema and Hexcel complete the first aeronautical structure made of thermoplastic composites. The objective is to produce composite parts that can replace metallic materials (such as steel, aluminum, and titanium) in aircraft structures, achieving both cost competitiveness and high production rates.
