Unidirectional Tapes Market to reach US$ 3.9 billion in 2025
February 04, 2020
UD tapes represent less than 1% of the total composite materials market in terms of volume; however, it is anticipated to grow at one of the highest rates in years to come. Stratview Research’s estimates suggest that the market is set to grow at an excellent CAGR of 6.1% over the next five years to reach an estimated value of US$ 3.9 billion in 2025. Several factors are behind this magnetic growth of UD tapes in a wide array of end-use industries in which inherent benefits of UD tapes over competing metals including steel and aluminum and composite materials, such as compounds and fabric prepregs has been the biggest driver across industries. The changing market dynamics of each industry is further reinforcing the demand for UD tapes.
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Unidirectional Tapes Market Segment Insights:
By Fiber Type:
On the basis of fiber type, the UD tapes market is segmented into carbon fiber UD tapes, glass fiber UD tapes, and other UD tapes. The carbon fiber UD tape is likely to remain the growth engine of the market during the forecast period. Aerospace & defense, automotive, consumer goods, and wind energy are likely to remain the major markets for carbon fiber UD tapes in years to come; however, aerospace & defense to remain the biggest market. Both thermoset and thermoplastics are gaining momentum in carbon fiber UD tapes.
By End-Use Industry Type:
On the basis of the end-use industry type, the UD tapes market is segmented into, aerospace & defense, automotive, consumer goods, wind energy, oil & gas, and others. Aerospace & defense is expected to remain the dominant segment, whereas automotive is expected to witness the highest growth during the forecast period. UD tapes have witnessed an increased penetration in various sections of an aircraft, such as in wings, fuselage, clips, clits, brackets, and profiles. Airbus anticipated that 39,210 new passenger and freight aircraft will be needed over the next 20 years (38,360 passenger aircraft and 850 freighter aircraft) during 2019-2038. Increasing demand for aircraft in emerging economies and continuous increase in global military expenditure are the major growth drivers.
By Region:
In terms of region, North America is projected to remain the largest market for UD tapes during the forecast period. North America is the largest manufacturing hub of the aerospace industry, backed up by Boeing, Airbus, Lockheed Martin Corporation, and Gulfstream Aerospace Corporation. The USA is estimated to remain the biggest demand generator of UD tapes not only in North America but also in the world. The country is the largest market for UD tapes in the aerospace & defense industry, marine, construction, and other end-use industries.
Asia-Pacific is projected to be the fastest-growing market for UD tapes during the forecast period. Upcoming commercial and regional aircraft, such as C919 and MRJ, the opening of assembly plants in China by Boeing and Airbus, and opening of assembly plants of automotive OEMs in the region are the major growth drivers of the UD tapes market in the region.
Key Players:
The supply chain of this market comprises of raw material suppliers, UD tape manufacturers, tier player, and end-user OEMs. The key players in the UD tapes market are BASF SE, CELANESE CORPORATION, Evonik Industries AG, Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites, Inc., SABIC, SGL Carbon SE, Solvay S.A., TEIJIN LIMITED, and Toray Industries, Inc. Advancements in the resin system, new product development, collaborations with tier players/OEMs, and execution of mergers and acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
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- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
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- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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