Increasing Penetration of Carbon Fiber Tapes in New Applications

Carbon fiber tape is a lightweight, strong material made up of thin strands of carbon that are woven together. It has a variety of uses, including strengthening structures, reinforcing roofs and walls, and providing additional insulation. It's also becoming increasingly popular in the automotive industry, where it is being used to create lighter, more efficient vehicles. The demand for carbon fiber tape is growing as its use becomes more widespread and its advantages become more apparent.

The global carbon fiber tape market size is estimated to grow from USD 2.4 billion in 2022 to USD 4.4 billion by 2027 at a compound annual growth rate (CAGR) of 13.0% during the forecast period. Increasing demand of carbon fiber tape coming from aerospace end-use industries is expected to drive the growth of the carbon fiber tape market across the globe. This is due to its strength-to-weight ratio is higher than that of steel and aluminum.

Carbon fiber tape is used on a large scale in the aerospace industry in the form of prepreg tape. #Carbon #fiber prepreg tape has higher strength-to-weight capability than other traditional aerospace materials, and hence, facilitates more efficient designs, structurally and aerodynamically. Carbon fiber tapes have high strength, high stiffness, and high abrasion resistance. It is used in both primary and secondary structures in aircraft. It is mainly used in applications, such as wing spars, wing skins, fuselage skin, access panels, rib stiffeners, brackets, conduit, and flooring.?

Get PDF Brochure for Research Insights at?https://bit.ly/3Gyi5j8??

Based on form type carbon fiber tape is segmented into two types, namely, #prepregtape and #drytape. Prepreg tapes are mainly used in aerospace and sporting goods industries for manufacturing wing spars, fuselage skins, bicycle frames, golf shafts, and others. They are also used in wind energy, automotive, and pipe & tank industries for turbine blades, cosmetic components, prosthetics, and other applications and hence hold the major share of the market.?

Carbon fiber tape market is segmented into #Aerospace, #Marine, #Pipes & #tanks, #Sportinggoods, #Construction & #infrastructure and others. The aerospace end-use industry is the largest consumer of carbon fiber tape, due to its demand in the manufacturing of both primary and secondary structures in aircraft. Major applications of carbon fiber tape in aerospace industry are wing spars, wing skins, fuselage skin, access panels, rib stiffeners, brackets, conduit, and flooring.?

The hot melt manufacturing process dominates the carbon fiber prepreg tape market. On the basis of manufacturing process, the global carbon fiber prepreg tape market is categorized into two segments namely, hot melt and solvent dip. In the hot melt process, heat and pressure are used to impregnate fibers with resin. It is also an eco-friendly process due to the use of water-based and solvent-free adhesives. In the hot melt process, resins with a very low percentage of solvents are used for the manufacturing of carbon fiber prepreg tapes.?

Various types of resins, such as epoxy, thermoplastic, bismaleimide, and polyamide are used in manufacturing carbon fiber prepreg tape. Epoxy is the leading resins used in carbon fiber prepreg tapes. This is due to its high demand in the aerospace & defense end-use industry, especially in emerging economies, such as China, France, and the US, because of its good mechanical properties but thermoplastics are expected to grow at the highest CAGR due to its property to get recycled.?

The North American carbon fiber tape market is projected to grow at the highest CAGR between 2022 and 2027. The growth of the North American carbon fiber tape market can be attributed to the increased demand for carbon fiber tape from US for use in different end-use industries. US accounted for a major share of the North American carbon fiber tape market and is projected to register the CAGR of 16.4% during the forecast period.

Request for Bundle Report at?https://bit.ly/3X2Fjov?

Major market players in carbon fiber tape market are Toray Industries, Inc. (Japan), Mitsubishi Chemical Group Holdings (Japan), 赢创工业集团 (Germany), ZOLTEK (US), Hexcel Corporation (US), Teijin Limited (Japan), SGL Carbon (Germany), 沙特基础工业公司 (Saudi Arabia), Royal DSM N.V. (Netherlands), 索尔维 (Belgium) and others.

Toray Industries Inc. and Hexcel Corporation are the major companies operating in the carbon fiber tape market, who have adopted the maximum number of growth strategies between 2018 and 2022. Toray Industries Inc. is one of the major manufacturers of carbon fiber tape for use in different end-use industries such as aerospace and marine, among others. The company accounted for a major share of all the developmental activities that took place in the carbon fiber tape market between 2018 and 2022. The company follows dynamic growth strategies, especially acquisitions, expansions, and joint ventures to strengthen its product portfolio and geographical presence. For instance, In February 2019, Teijin acquired Renegade Materials Corporation, a supplier of highly heat-resistant thermoset prepreg for the aerospace industry in North America. This helped the company solidify its position as a leading provider of solutions for aerospace applications.?

Hexcel Corporation is one of the prominent players in the carbon fiber tape market. It primarily serves various end-use industries such as aerospace and pipes & tanks, among others. The company has adopted the strategies of mergers and acquisition between 2018 and 2022 to enhance its position in the carbon fiber tape market. For instance, In January 2020, Hexcel collaborated with Madshus, a leading innovator in the world of cross-country skiing. The company provides Madshus with three different Hi Tape products based on specific design parameters of different cross-country ski types. Hexcel’s new HiTape dry carbon tapes improve the performance, manufacturing efficiency, and surface finish of Madshus’ skis.?This strategy has helped the company increase its revenue through carbon fiber tape products and sustain in the market.