Carbon Fiber Tape Market by Form (Prepreg Tape, Dry Tape), Resin (Epoxy, Thermoplastic, Polyamide), Manufacturing Process (Hot Melt, Solvent Dip), End-use Industry (Aerospace, Marine, Pipe & Tank, Sporting Goods), and Region - Global Forecast to 2027

The global carbon fiber tape market is expected to grow from USD 2.4 billion in 2022 to USD 4.4 billion by 2027, at a CAGR of 13.0% between 2022 and 2027. The significant growth of the carbon fiber tape market is attributed to the increasing demand from aerospace and pipe & tank end-use industries across the globe. 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. 

Thermoplastic resin is the fastest-growing segment in the carbon fiber prepreg tape market in terms of value

Thermoplastic resin is projected to register the highest CAGR in terms of value between 2022 and 2027. PEEK is the most widely used thermoplastic resin used in the making of carbon fiber prepreg tapes. The main advantage of thermoplastic resin as matrix material is that the composites formed can be reshaped and reformed, hence are eco-friendly in comparison to thermoset resin. Thermoplastic-resin based carbon fiber prepreg tapes provide high impact strength, better surface quality, less product rejection, high rigidity at elevated and sub-zero temperatures, and creep resistance under harsh environments. PEEK resin offers excellent chemical resistance. It also possesses good mechanical properties.

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 soak resins in the fibers. Hot melt process, is an eco-friendly process because very low percentage of solvents are used for the manufacturing of carbon fiber prepreg tapes. Furthermore, this process is less hazardous for the environment, and there are no organic solvents consumed or emitted during operations. This process requires less coating, and high-speed production is possible with no thermal stress of the substrate.  

On the basis of form prepreg tape dominate the carbon fiber tape market in terms of value

Prepreg tapes are widely used in aerospace, sporting goods and pipe & tanks industries for different applications. They have some applications in wind energy, automotive, and medical industries for instance manufacturing of turbine blades, cosmetic components, prosthetics, and other applications. In the aerospace industry, carbon fiber prepreg tape is largely used in Boeing 737MAX, COMAC C919, and A320 neo.

Aerospace 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. Carbon fiber tapes have high strength to weight ratio when compared to other materials hence it gives an advantage to aircraft manufacturers to make a low weight aircraft with  more efficient designs, structurally and aerodynamically. Carbon fiber slit tapes are used in aircraft seat frames as it reduces the weight of the aircraft seats by 30% in comparison to traditional aluminum frame seats. It is also used in lightweight sandwich panels for ultralight aircraft. Unidirectional carbon fiber prepreg tapes are mostly preferred in aircraft due to their higher strength and stiffness than woven tapes.

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 industry in the region. The region is home to some of the prominent manufacturers of carbon fiber tapes, such as Hexcel Corporation and Solvay. These companies are engaged in the production of high-quality carbon fiber tapes used in the aerospace & defense, marine, construction & infrastructure, and pipe & tank industries.

This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories:

• By Company Type: Tier 1 - 60%, Tier 2 - 20%, and Tier 3 - 20%
• By Designation: C Level - 33%, Director Level - 33%, and Managers - 34%
• By Region: North America - 20%, Europe - 25%, Asia Pacific (APAC) - 25%, Latin America - 10%, and Middle East & Africa (MEA) - 20%

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)
• Evonik Industries (Germany)
• SABIC (Saudi Arabia)
• Solvay (Belgium)
• Royal DSM (Netherlands) 

Research Coverage 

This report covers the global carbon fiber tape market and forecasts the market size until 2027. It includes the following market segmentation - Resin (Epoxy, Thermoplastic, Bismaleimide, Polyamide, Others), Form (Prepreg Tape, Dry Tape), Manufacturing Process (Hot Melt, Solvent Dip), End-use Industry (Aerospace & Defense, Marine, Pipe & Tank, Construction & Infrastructure, Sporting Goods, and Others) and Region (Europe, North America, APAC, Latin America, and MEA). Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global carbon fiber tape market.

Key Benefits of Buying the Report

The report is expected to help market leaders/new entrants in this market in the following ways:

1. This report segments the global carbon fiber tape market comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the carbon fiber tape market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisition. 

Reasons to Buy the Report

The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall carbon fiber tape market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.