What is the future of Unidirectional (UD) Tapes Market? Know Covid Impact on Size, Share & Forecasts
July 03, 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 Unidirectional (UD) Tapes Market.
It was estimated prior to this unanticipated outbreak that the Unidirectional (UD) Tapes Market was expected to grow at a CAGR of 6.1% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
For a more detailed breakdown of the COVID-19 impact on the Unidirectional (UD) Tapes Market, request a free sample of the report here:
https://www.stratviewresearch.com/Request-Sample/347/Unidirectional-Tapes-Market.html
UD tapes are composed of endless fibers that are orientated in one direction impregnated with a polymer resin matrix. UD tapes are layered together to form a laminate or a component. The number of layers depends upon the rigidity and strength required for the component. UD tapes offer a significant reduction in weight and also helps various industries (aerospace and automotive) to reduce carbon emissions. The UD tape is made by impregnating carbon fiber, glass fiber, aramid fiber or natural fiber stacked together in one direction, with a thermoset or thermoplastic resin.
Over the decades, thermoset UD tapes are more widely used across various industries, as they are cheaper, highly reactive and have ease of impregnation. High usage of carbon fiber/epoxy composites in the aerospace industry owing to their lightweight, high strength and modulus, and excellent fatigue performance; is also one of the major factors behind the dominance of thermoset UD tapes in the market. Thermoset UD tapes are widely used for making primary aerostructures such as fuselage and wings of the next-generation aircraft programs as they offer maximum strength and stiffness in one direction which is the desired property for large structures. In recent years, thermoplastic UD tapes are gaining traction in a wide array of applications as they offer higher toughness, high chemical resistance, easier & quicker in consolidation, quick cycle time, recyclability, and unlimited shelf life.
Increasing production rates of composites-rich aircraft programs (B787 and A350XWB) coupled with the development of fuel-efficient variants of the best-selling aircraft programs (A320neo, B737 Max, B777x, A330neo, E-2 jet, etc.) is propelling the demand for composite materials in the aerospace industry. With the increasing demand for composite materials, there has been a greater urge for automation in the manufacturing processes in order to address the increasing demand. AFP and ATL processes are such technologies that can lay prepreg materials at a much faster rate than laying prepreg materials manually and have been efficacious in gaining consequential shares in the aerospace prepreg market. UD tapes (slit and UD tape) are the materials of choice for such manufacturing processes.
Click here for description of the report:
https://www.stratviewresearch.com/347/Unidirectional-Tapes-Market.html
On the basis of fiber type, the market is segmented into carbon fiber UD tapes, glass fiber UD tapes, and other UD tapes. 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.
On the basis of end-use industry, the 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 high 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.
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, collaboration 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.