What is the future of Carbon Fiber Tape Market? Know Covid Impact on Size, Share & Forecasts
July 02, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Carbon Fiber Tape Market.
It was estimated prior to this unanticipated outbreak that the Carbon Fiber Tape Market was expected to grow at a CAGR of 12.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Carbon Fiber Tape is made up of carbon and is available in the form of flat material. One of the basic properties if the carbon fiber tape is that it is lesser in weight than steel of the same strength, i.e., about one-seventh of steel. Also, it has higher durability than steel.
Carbon Fiber Tape is processed in the forms of hot melt process and solvent dip process. Aerospace, marine, sporting goods, pipe & tank, construction, and infrastructure are some of the industries where carbon fiber tape is being used now.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the form type, the market is segmented as prepreg tape and dry tape. The prepreg tape segment accounted for the larger market share in 2019, and is likely to retain its dominance during the forecast period. The growth is attributed to the growing demand for prepreg tapes in various end-use industries such as sporting goods, aerospace, and automotive. The tape bears remarkable strength-to-weight-ratio, elevated toughness, and offers corrosion-fatigue resistance.
Based on the end-use industry type, the market is segmented as aerospace, marine, pipe & tank, sporting goods, construction & infrastructure, and others. The aerospace industry segment is estimated to register high growth in the coming five years. The growth is attributed to the increasing demand for lightweight and strong-hi-performance materials.
In terms of regions, North America is estimated to hold the largest market for carbon fiber tapes in the coming five years. The market is sustained by the growing demand for premium performance materials in the aerospace industry. Asia-Pacific is also estimated to offer sizeable growth opportunities during the forecast period. China and India are the growth engines of the region.
Key Players:
Some of the major players in the carbon fiber tape market are Royal TenCate, Saudi Basic Industries Corporation (SABIC), Evonik Industries AG, Zoltek Corporation, Solvay SA, Mitsubishi Rayon Carbon Fiber and Composites, Hexcel Corporation, Teijin Limited, SGL Group, Royal DSM, and PRF Composite Materials.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Carbon Fiber Tape Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- 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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