Unidirectional Tapes Market Likely To Touch At $517.9 Million By 2027: Grand View Research Inc.

 

The global unidirectional tapes market size is expected to reach USD 517.9 million by 2027, registering a 14.0% CAGR, according to a new report by Grand View Research Inc. The rapidly rising demand for technologically advanced and fuel-efficient aircraft is expected to improve the application of the product in the aerospace and defense sector, thereby drving the overall market.

The mining industry accounts for a vital share of the global economy and is responsible for supplying key raw materials for several applications and end-use industries, thus being a key sector of focus amidst the ongoing pandemic outbreak. Mining industries in China are expected to return to normal operations by Q3 of 2020 as enterprises indicated towards the returning of their workers soon. Moreover, Iron ore producers are known to be the least impacted. Major players such as BHP and Vale reported experiencing no major influence on their operations due to the COVID-19 virus. The iron ore prices reached above USD 90 per ton amidst the pandemic situation which may negatively impact the end-use industries. The report will account for Covid19 as a key market contributor.

Unidirectional (UD) tapes offer superior strength to weight ratio as compared to other conventional aerospace materials. Thus, the UD tapes play a critical role in replacing the metal components in the primary and secondary structures of the aircraft. In addition, these tapes also offer exceptional abrasion resistance and high stiffness, thereby driving the demand.

Advancements in unidirectional tape prepreg technology are expected to enhance the laying up speed for thermoplastics composite parts. The aforementioned composite process development is projected to facilitate the aerospace sector to manufacture composite parts at higher speed and economy, thereby positively impacting the overall product demand.

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Key players in the industry are continuously focusing on improving the manufacturing cost of the unidirectional tapes, which has emerged as the major growth constraint for the UD tapes market. In addition, the players are also employing efforts to commercialize the product usage in newly discovered applications, thereby increasing its market potential.

Unidirectional Tapes Market Report Highlights

• Thermoplastic unidirectional tapes segment accounted for the majority of the demand with USD 129.6 million revenue in 2020 owing to the low cost of the product as compared to other resin UD tapes
• Carbon fiber UD tapes segment dominated the market with 80.64% share in 2020 owing to superior strength to weight ratio and impact resistance offered by the tapes
• Sports and leisure end-use segment is expected to witness a notable CAGR of over 14.79% over the forecast period on account of rapidly rising usage of composite materials in the manufacturing of sports goods and equipment
• In 2020, North America market revenue stood at USD 72.4 million and the region is projected to expand at a CAGR of 13.7% over the forecast period owing to the presence of robust manufacturing base for aerospace and defense sector
• Key players in the industry are focusing on enhancement of the production process to make it more economical and also to commercialize the product usage in several novel applications

Unidirectional (UD) tapes are the composite materials exhibiting unidirectional fiber orientation. These materials are manufactured using various resins based on customized requirements and majorly use glass or carbon fiber reinforcements. The appropriate size of these fibers facilitates optimal bonding to the plastic thereby leading to exceptional mechanical properties.

U.S. aerospace and defense sector is the largest producer of technologically advanced aircraft as well as space and defense systems. In addition, it also one of the largest suppliers of aerospace components, thereby posing the great potential for the growth of the UD taping solutions market in the next eight years.

Unidirectional taping solutions offer high impact resistance on leading-edge wing applications in aerostructures. In addition, it is emerging as an ideal solution for several structural applications, secondary flight structures, and fairings. Thus, the aforementioned factors offered by the product are expected to lead the replacement of conventional metal components in the aircraft.

The automotive sector is continuously making efforts to meet stringent carbon dioxide emission norms and extend the driving range of Electric Vehicles (EVs). Regulatory bodies across the globe are imposing stringent emission norms as well as the consumers are demanding improved ability to drive EVs to longer distances before recharging the battery.

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Thus, the OEM brands are focusing on finding an optimal solution to meet the rising consumer demands along with stringent emission standards. Unidirectional tapes are expected to emerge as one the most suitable material options for the OEMs to reduce automotive emissions and extend the driving range of EVs owing to superior strength to weight ratio offered by the product.

Key industry participants are involved in developing the production process of unidirectional tapes to reduce overall cost. In addition, these players are also focusing on exploring the true potential of UD taping materials and are further expected to commercialize the usage of the product in several new applications thereby positively influencing the overall market growth.

Several players in the industry maintain close relations with the end-use industries in order to cater to their emergent market requirements. Moreover, technological advancements, collaborations, mergers, and partnerships are some of the marketing strategies adopted by the industry players to gain a strong foothold in the market.

Some prominent players in the unidirectional tapes market include:

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

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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