Global Carbon Fiber Tapes Market Size To Worth USD 5.3 Billion by 2032 | CAGR of 13.9%

Global Carbon Fiber Tapes Market Size To Worth USD 5.3 Billion by 2032

According to a research report published by Spherical Insights & Consulting, the Global Carbon Fiber Tapes Market Size to Grow from USD 2.1 Billion in 2022 to USD 5.3 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 13.9% during the forecast period.

Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on “Global Carbon Fiber Tapes Market Size, Share, and COVID-19 Impact, By Form (Dry Tapes, Prepreg Tapes), By End Use (Aerospace & Defense, Automotive), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.” Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/carbon-fiber-tapes-market

Carbon fibre tapes are flexible, thin sheets or strips made of polymers that include carbon fibre reinforcement. They contain high-strength carbon fibres that are combined with a polymer matrix, typically epoxy resin. Carbon fibres' outstanding strength-to-weight and stiffness are well known. When used in tapes, they provide reinforcement to various materials, enhancing the structural integrity of those materials. Carbon fibre tapes are used in aerospace and spacecraft parts to save weight and enhance structural performance. They are used in medical devices and equipment like X-ray tables and patient positioning systems due to their robustness and light weight.

COVID 19 Impact

Aerospace and automotive industries, two major consumers of carbon fibre tapes, were severely disrupted by the epidemic. The market for carbon fibre products was impacted by lockdowns and travel restrictions that reduced the demand for automobiles and air travel. The epidemic disrupted global supply networks, which affected the cost and supply of raw materials including carbon fibres and resins. The production and price of carbon fibre tapes were subsequently impacted by this. Businesses in the aerospace and automotive industries, among others, temporarily shifted their attention away from carbon fibre tape-related initiatives and onto manufacturing essentials like personal protective equipment (PPE) and medical technology.

In industries including aviation, transportation, and wind energy, lightweighting is becoming more and more significant in order to boost fuel efficiency, reduce emissions, and boost overall performance. Carbon fibre tapes are a popular choice for achieving these goals because to their excellent strength-to-weight ratio. Carbon fibre composites, particularly tapes, are frequently used in the aerospace industry for aircraft elements such wings, fuselages, and interior structures. The growth of air travel and the development of light, fuel-efficient aircraft have raised the demand for carbon fibre tapes. Automakers are increasingly incorporating carbon fibre composites into their vehicles to save weight and increase safety. Carbon fibre tapes are used in interiors, chassis components, and body panels to accomplish these goals.

Carbon fibres, especially those of a high calibre, can be expensive. This cost presents a significant barrier to entry for many organisations, which limits the usage of carbon fibre tapes in areas where cost is an issue. The capacity of carbon fibre production facilities and the accessibility of precursor materials are constrained, and the synthesis of carbon fibres requires a lot of resources. This could lead to price volatility and a shortage of supplies. Carbon fibre tape manufacture requires intricate manufacturing processes and specialised equipment, which can increase production costs and limit the number of businesses that can make high-quality tapes. The production of carbon fibre involves significant energy consumption and emissions. Despite the fact that carbon fibre composites in industry consume less petrol.

Form Type Insights

Prepreg Tapes segment is dominating the market over the forecast period

On the basis of form type, the global carbon fiber tapes market is segmented into Dry Tapes, Prepreg Tapes. Among these, the prepreg tapes segment is dominating the market with the largest market share over the forecast period. The aerospace industry has been a significant source of prepreg tape demand because of the tight requirements for lightweight, high-strength materials in aircraft construction. Prepreg tapes are used in a variety of sections, including wing, interior, and fuselage, of aircraft. Prepreg tapes are increasingly being used in the automotive industry for items like carbon fibre reinforced plastic (CFRP) body panels, chassis parts, and interior components. These usage support the industry's efforts to make automobiles lighter and more fuel-efficient. The manufacture of composite wind turbine blades, a component of the wind energy sector, also employs prepreg tapes. These tapes improve the functionality and endurance of blades, aiding in the development of renewable energy sources.

End Use Insights

Aerospace and defence segment holds the highest market share over the forecast period

Based on the end use, the global carbon fiber tapes market is segmented into Aerospace & Defense, Automotive. Among these, aerospace and defence holds the highest market share over the forecast period. Many structural components of aircraft, spacecraft, and military hardware use carbon fibre tapes. These are only a few examples of the places where the tapes are employed to increase rigidity and strength while reducing weight, such as fuselages, wings, tail sections, interior components, and radomes. Modern manufacturing techniques, such as automated tape laying (ATL) and automated fibre placement (AFP), have been employed by the aerospace and defence industries in order to efficiently build intricate forms and structures out of carbon fibre tapes. As space exploration programs—led by both public and private sector space agencies—have grown, so has the demand for lightweight and high-strength materials. Carbon fibre tapes are used to make parts for satellites and spacecraft.

Regional Insights

North America is dominating the market over the forecast period

North America is dominating the market with the largest market share over the forecast period. One of the biggest industries in North America, particularly in the United States, is aerospace. The demand for lightweight and high-strength materials in the production of aircraft has led to the use of carbon fibre tapes in aerospace applications, including airframes, wings, and interior components. The North American automotive industry has been increasingly using carbon fibre composites, including tapes, to achieve lightweighting goals. High-performance vehicles, electric vehicles, and sports car components all use carbon fibre films to improve fuel economy and reduce emissions. The region has a well-established supply chain for carbon fibre materials and composites as well as tape production. This infrastructure supports the growth of the market.

Europe is witnessing the fastest market growth over the forecast period. With companies like Airbus based there, Europe has a thriving aircraft industry. The need for lightweight materials to decrease aircraft weight and improve fuel efficiency has driven the use of carbon fibre tapes in aerospace applications. The European automotive industry has employed carbon fibre composites, including tapes, more frequently in order to reduce vehicle weight and meet strict emissions rules. Large amounts of carbon fibre have been employed by manufacturers of luxury and high-performance vehicles.

List of Key Companies

• Evonik Industries
• SABIC
• Solvay
• Hexcel Corporation
• Royal Tencate
• Teijin Limited
• BASF SE
• Celanese Corporation
• SGL Group
• Victrex
• Cristex
• Eurocarbon
• PRF Composite Materials
• TCR Composites
• Sigmatex

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Carbon Fiber Tapes Market based on the below-mentioned segments:

Carbon Fiber Tapes Market, Form Type Analysis

• Dry Tapes
• Prepreg Tapes

Carbon Fiber Tapes Market, End Use Analysis

• Aerospace & Defense
• Automotive

Carbon Fiber Tapes Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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