Global Carbon Fiber Tape Market To Witness The Highest Growth In North America

The global carbon fiber tape market size was worth around USD 2.39 billion in 2022 and is predicted to grow to around USD 4.15 billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.15% between 2023 and 2030.

The carbon fiber tape industry refers to the production and distribution of carbon fiber tapes which are a type of reinforcement material made out of carbon fibers that are woven together into a tape-like form. The properties responsible for the growth in the industry are the strength, stiffness, and lightweight structure of carbon fiber tape. They have applications in several industries and are used for strengthening and reinforcing structures, manufacturing composite components, repairing and bonding materials, and improving the performance and durability of products. The carbon fiber tape market encompasses manufacturers, suppliers, distributors, and end-users of carbon fiber tapes. Several factors influence the industry's growth. During the forecast period, it may come across restraints and challenges.

This review is based on a report by Zion Market Research, titled "Carbon Fiber Tape Market By Resin (Thermoplastic, Epoxy, And Polyamide), By Form (Dry Tape And Prepreg Tape), By End-User (Pipe & Tank, Aerospace, Sporting Goods, And Marine), By Manufacturing Process (Solvent Dip And Hot Melt), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030"- Report at https://www.zionmarketresearch.com/report/carbon-fiber-tape-market

The global carbon fiber tape market is projected to grow owing to the increasing application of the product in the sports and leisure sector where it is used during the production of several types of sports equipment such as bicycles, fishing rods, and archery bows to name a few. The primary reason for the growing adoption is the high strength of the tape and the ability to produce lightweight structures without impacting the overall performance. There is a growing demand for lightweight modern sports equipment that directly impacts the industry's growth.

Furthermore, the increasing adoption of carbon fiber tape in the evolving automotive industry could also result in higher growth revenue. It assists in reducing vehicle weight while improving fuel efficiency. The increasing focus on developing more pocket-friendly electric vehicles (EVs) could also contribute to greater demand. Other factors such as advancements in manufacturing technologies, such as automated tape laying (ATL) and automated fiber placement (AFP) along with the rise in use in the construction industry are equally important to carbon fiber tape industry expansion.

There are certain limitations that exist in the global market and one of the primary concerns are the concerns over the integration of the product in the existing manufacturing processes and structures. There can be severe challenges in processes that aim at achieving compatibility between carbon fiber tape and other materials, such as metals or polymers. Adhesion, bonding, and joining methods need to be carefully considered to ensure effective integration, which can add complexity and cost to the overall manufacturing process.

The increasing demand for lightweight public transport systems may provide growth opportunities while limited production capacity could challenge the market expansion.

The global carbon fiber tape market is segmented based on resin, form, end-user, manufacturing process, and region.

Based on resin, the global market segments are thermoplastic, epoxy, and polyamide.

Based on form, the global market divisions are dry tape and prepreg tape. The carbon fiber tape industry witnessed the highest growth in the prepreg tap which also stands for "pre-impregnated tape”. This version already consists of a resin which is typically epoxy resin. The tap is partially cured to deliver specific resin viscosity. This allows it to be stored and handled without resin flow. Some of the advantages of using prepreg tape include consistent resin content, reduced processing time, and ease of handling. Some of the common processes like autoclave molding or press molding, make use of this variant of carbon fiber tape. On the other hand, the dry tape is the exact opposite of the counterpart since it does not have resin pre-impregnated in it. Carbon fiber has a tensile strength ranging from 3,000 MPa (megapascals) to 7,000 MPa.

Based on form, the global market divisions are dry tape and prepreg tape.

Based on the manufacturing process, the global carbon fiber tape industry segments are solvent dip and hot melt. The highest growth was observed in the hot melt segment which makes use of prepreg tap. During manufacturing, the prepreg tape is heated to a specific temperature and pressure, allowing the resin to flow and consolidate the layers into a solid tape. The hot melt process offers convenience and efficiency, as the prepreg tape is already impregnated with resin and can be readily used for lay-up and curing processes. The solvent dip process involves impregnating carbon fiber with a resin system by dipping the fiber into a resin bath. Generally, curing temperatures for carbon fiber tape range from around 100°C (212°F) to 200°C (392°F).

The global carbon fiber tape market is expected to witness the highest growth in North America mainly due to the presence of a robust automotive industry along with greater demand for advanced sports equipment. According to the Physical Activity Council's annual survey conducted in 2020, approximately 53.1% of Americans aged six years and older (around 165 million people) participated in some form of sports or physical activity.

In Europe, the growth can be expected to be a result of increasing investments in the electric vehicle (EV) segment as the nations such as Germany and the UK are now witnessing more demand in this category of the automotive industry. Moreover, the rising adoption in the aerospace segment could also assist in regional expansion. According to reports, more than 300,000 EVs were registered in Germany.

Latin America, the Middle East, and Africa have a smaller market share in the industry but are experiencing gradual growth.

The global carbon fiber tape market is led by players like Hexcel Corporation, Toray Industries, Inc., SGL Carbon SE, Teijin Limited, Mitsubishi Chemical Carbon Fiber and Composites, Inc., Gurit Holding AG, Solvay SA, Axiom Materials, Inc., Cytec Solvay Group, Mitsubishi Rayon Co., Ltd., Zoltek Companies, Inc., Park Aerospace Corp., Carbon Fibre Preforms Limited, Vectorply Corporation, Sigmatex Limited, TenCate Advanced Composites (now part of Toray Industries), Barrday Composite Solutions, Eurocarbon B.V., PRF Composite Materials, Toho Tenax Co., Ltd., CHOMARAT Textiles Industries, Composites Evolution Ltd., Sika AG, Porcher Industries, and Advanced Composites Group Ltd.

Recent Developments:

• In August 2019, Toray Advanced Composites and BASF announced a collaboration to launch innovative tape technology, also known as continuous fiber-reinforced thermoplastic (CFRT) tapes, in the automotive sector
• In December 2022, Teijin Carbon Europe GmbH announced the installment of a second production site for a thermoplastic tape line in Germany unit

Carbon Fiber Tape Market: Competitive Analysis

The global carbon fiber tape market is led by players like:

• Hexcel Corporation
• Toray Industries Inc.
• SGL Carbon SE
• Teijin Limited
• Mitsubishi Chemical Carbon Fiber and Composites Inc.
• Gurit Holding AG
• Solvay SA
• Axiom Materials Inc.
• Cytec Solvay Group
• Mitsubishi Rayon Co. Ltd.
• Zoltek Companies Inc.
• Park Aerospace Corp.
• Carbon Fibre Preforms Limited
• Vectorply Corporation
• Sigmatex Limited
• TenCate Advanced Composites (now part of Toray Industries)
• Barrday Composite Solutions
• Eurocarbon B.V.
• PRF Composite Materials
• Toho Tenax Co. Ltd.
• CHOMARAT Textiles Industries
• Composites Evolution Ltd.
• Sika AG
• Porcher Industries
• Advanced Composites Group Ltd.

The global carbon fiber tape market is segmented as follows:

By Resin

• Thermoplastic
• Epoxy
• Polyamide

By Form

• Dry Tape
• Prepreg Tape

By End-User

• Pipe & Tank
• Aerospace
• Sporting Goods
• Marine

By Manufacturing Process

• Solvent Dip
• Hot Melt

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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