Unidirectional Tapes Industry Overview
The unidirectional tapes market size was estimated at USD 154.3 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 15.9% from 2021 to 2028. The rapidly increasing demand for lightweight components in the automotive and aerospace industries is expected to drive the demand for unidirectional (UD) tapes over the forecast period. Temporary closure of industrial operations to curb the spread of COVID-19 outbreak across the globe had negatively impacted the manufacturing operations in 2020. Thus, hampered the product demand in the automotive and aerospace parts manufacturing operations. A surge in the usage of automotive adhesive tapes for bonding electronic products in car interiors, coupled with the rising production of electric and hybrid vehicles in the U.S., is projected to fuel the growth.
Gather more insights about the market drivers, restraints, and growth of the Global Unidirectional Tapes market
In addition, the high sensitivity of manufacturers located in the economy towards automobiles aesthetics is expected to benefit the market. The development of advanced products for sealing, coupled with rising investments in R&D for the production of advanced high-strength adhesive tapes, is projected to drive the product demand over the forecast period. In addition, the development of eco-friendly solvent recovery technology used for the coating of adhesives is expected to drive the product demand in the coming years.
The market is expected to be driven by the growth in the usage of UD tapes as a replacement for metals in exterior and interior systems in automobiles and aircraft for reduction of their overall weight by about 40%, to achieve high fuel efficiency levels, and reduce the emission levels to the outer atmosphere. The market growth is expected to be restrained by the high cost of unidirectional tapes as compared to metals. The manufacturers usually prefer metals in all major applications to reduce their production costs. Furthermore, the market is concentrated in North America and Europe, due to which, the product adoption is significantly low in other regions, thus limiting the market growth.
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Unidirectional Tapes Market Segmentation
Grand View Research has segmented the global unidirectional tapes market on the basis of resin type, fiber, end-use, and region:
Unidirectional Tapes Resin Type Outlook (Volume, Million Meters, Revenue, USD Million, 2017 - 2028)
- Thermoset
- Thermoplastic
Unidirectional Tapes Fiber Outlook (Volume, Million Meters, Revenue, USD Million, 2017 - 2028)
- Glass Fiber
- Carbon Fiber
- Other Fiber
Unidirectional Tapes End-use Outlook (Volume, Million Meters, Revenue, USD Million, 2017 - 2028)
- Aerospace & Defense
- Automotive
- Sports & Leisure
- Others
Unidirectional Tapes Regional Outlook (Volume, Million Meters, Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights:
May 2021: Toray Advanced Composites announced to expand its thermoplastic composite material capabilities to advance its ‘Cetex’ brand of reinforced thermoplastic composite laminates and UD tapes.
Key Companies profiled:
Some prominent players in the global Unidirectional Tapes market include
- Evonik Industries AG
- SABIC
- Solvay, S.A.
- Hexcel Corp.
- Toray Industries, Inc.
- SGL Group
- Teijin Ltd.
- BASF SE
- Celanese Corp.
- Victrex plc.
- Cristex Composite Materials
- Eurocarbon B.V.
- Plastic Reinforcement Fabrics Ltd.
- TCR Composites, Inc.
- Barrday, Inc.
Order a free sample PDF of the Unidirectional Tapes Market Intelligence Study, published by Grand View Research.
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