Thermoplastic Unidirectional Tape Market Report Overview
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The global thermoplastic unidirectional tape market size was USD 155.2 million in 2022 and market is projected to touch USD 623.2 million by 2031, at CAGR of 16.7% during the forecast period.
The global Covid-19 pandemic has been unprecedented and staggering, with the thermoplastic unidirectional tape market experiencing Higher than anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Thermoplastic unidirectional tape refers to a type of composite material consisting of reinforcing fibres embedded in a thermoplastic matrix in a single direction. It is a versatile and high-performance material commonly used in various industries, including aerospace, automotive, and sporting goods. The tape is composed of high-strength fibres, such as carbon fibre, fiberglass, or aramid, which provide the material's strength and stiffness. These fibres are typically aligned in a single direction to maximize the material's performance along that axis.
The fibres are embedded in a matrix made of a thermoplastic polymer, such as polypropylene (PP), polyamide (PA), or polyetheretherketone (PEEK). Unlike thermosetting matrices, which undergo irreversible curing reactions, thermoplastics can be melted and reformed multiple times without significant degradation, making them highly recyclable.
COVID-19 Impact: Pandemic Hamper the Demand of Thermoplastic Unidirectional Tape to Market Growth
The COVID-19 pandemic has had both direct and indirect impacts on various industries, including the thermoplastic unidirectional tape industry. Here are some ways in which the pandemic may have influenced the production, demand, and usage of thermoplastic unidirectional tapes. The pandemic led to significant disruptions in global supply chains, including the availability of raw materials and components. This disruption may have affected the production of thermoplastic unidirectional tapes, as manufacturers may have faced challenges in sourcing necessary materials and maintaining regular production schedules.
Latest Trends
"Increasing Adoption in Aerospace Will Drive Market Growth "
Thermoplastic unidirectional tapes have been gaining traction in the aerospace industry due to their lightweight properties, high strength, and ease of processing. Manufacturers are using these tapes in the production of structural components, such as wing spars, fuselage sections, and interior components, to reduce weight and improve fuel efficiency.
Thermoplastic Unidirectional Tape Market Segmentation
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- By Type Analysis
According to type, the thermoplastic unidirectional tape market can be segmented into polyether-ether-ketone (PEEK), polyamide (PA), polypropylene (PP), polyphenylene sulfide (PPS) and others.
In terms of type, polyether-ether-ketone (PEEK) is anticipated to be the largest segment during the forecast period.
- By Application Analysis
Based on application, the thermoplastic unidirectional tape market can be Aerospace and defense, transportation, industrial, sporting goods, and others.
In terms of application, the sporting goods market is projected to hold a thermoplastic unidirectional tape market share through 2031.
Driving Factors
"Lightweighting and Fuel Efficiency Will Uplift Market Growth "
Industries such as aerospace, automotive, and transportation are driven by the need to reduce weight and improve fuel efficiency. Thermoplastic unidirectional tapes offer high strength-to-weight ratios, enabling the production of lightweight components without compromising structural integrity.
"Design Flexibility and Complex Geometries Will Increase Market Growth"
Thermoplastic unidirectional tapes can be easily shaped and molded into complex geometries using techniques like automated fiber placement (AFP) or automated tape laying (ATL). This design flexibility allows for the production of components with tailored shapes and optimized properties, leading to improved performance and efficiency.
Restraining Factors
"Limited Supply Chain and Infrastructure Will Limit Market Growth "
The supply chain for thermoplastic unidirectional tapes may be less developed compared to traditional materials, resulting in limited availability and a smaller pool of suppliers. Additionally, specialized processing equipment and expertise are required for their production and fabrication, which may pose challenges for manufacturers seeking to integrate these materials into their production processes.
Thermoplastic Unidirectional Tape Market Regional Insights
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"The North America Region will Dominate Market Due to Strong Demand of Aerospace Structures "
North America, particularly the United States, has a strong presence in aerospace and automotive industries, which are major consumers of thermoplastic unidirectional tapes. The region has seen increased adoption of these tapes in aerospace structures, including aircraft components and interior applications. In the automotive sector, thermoplastic unidirectional tapes are used for lightweighting and performance enhancement. The region also has a focus on sustainability, driving interest in recyclable thermoplastic composites.
Europe has a well-established aerospace industry and is a hub for automotive innovation. The region has been actively investing in the development of thermoplastic composites, including unidirectional tapes, for applications in aerospace, automotive, and other sectors. European countries are driving initiatives for lightweighting and fuel efficiency, leading to the adoption of thermoplastic unidirectional tapes in various structural components.
Key Industry Players
"Adoption Recycling Services by Key Players Influencing Market Development"
The top key players in the transformer-free UPS market are Evonik Industries, Solvay, SABIC, Teijin, Toray Advanced Composites (TenCate), Celanese. Most of the top players hold the thermoplastic unidirectional tape market share. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the thermoplastic unidirectional tape market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession of market shares by the key players stimulates the thermoplastic unidirectional tape market.
List of Market Players Profiled
- Evonik Industries (Germany)
- Solvay (Belgium)
- SABIC (Saudi Arabia)
- Teijin (Japan)
- Toray Advanced Composites (TenCate) (U.S.)
- Celanese (U.S.)
- Victrex (UK.)
- Mitsui Chemicals (Japan)
- TOPOLO New Materials (China)
- TeXtreme (Oxeon) (Sweden)
- PRF Composite Materials (UK.)
- TCR Composites (U.S.)
Report Coverage
This report examines an understanding of the thermoplastic unidirectional tape market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 155.2 Million in 2022 |
Market Size Value By |
US$ 623.2 Million by 2031 |
Growth Rate |
CAGR of 16.7% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global thermoplastic unidirectional tape market expected to touch by 2031?
The global thermoplastic unidirectional tape market is expected to reach USD 623.2 million by 2031.
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What CAGR is the thermoplastic unidirectional tape market expected to exhibit during 2031?
The thermoplastic unidirectional tape market is expected to exhibit a CAGR of 16.7% over 2031.
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Which are the driving factors of the Thermoplastic Unidirectional Tape market?
Design flexibility and complex geometries are the driving factor of the Thermoplastic Unidirectional Tape market.
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Which are the top companies operating in the Thermoplastic Unidirectional Tape market?
Evonik Industries, Solvay, SABIC, Teijin, Toray Advanced Composites (TenCate), Celanese are the top operating companies in the Thermoplastic Unidirectional Tape market.