Unidirectional Tapes Market Size Worth $517.9 Million By 2027

Unidirectional Tapes Market Growth & Trends
The global unidirectional tapes market size is expected to reach USD 517.9 million by 2027, registering a 14.0% CAGR, according to a new report by Grand View Research Inc. The rapidly rising demand for technologically advanced and fuel-efficient aircraft is expected to improve the application of the product in the aerospace and defense sector, thereby drving the overall market.
Unidirectional (UD) tapes offer superior strength to weight ratio as compared to other conventional aerospace materials. Thus, the UD tapes play a critical role in replacing the metal components in the primary and secondary structures of the aircraft. In addition, these tapes also offer exceptional abrasion resistance and high stiffness, thereby driving the demand.
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Advancements in unidirectional tape prepreg technology are expected to enhance the laying up speed for thermoplastics composite parts. The aforementioned composite process development is projected to facilitate the aerospace sector to manufacture composite parts at higher speed and economy, thereby positively impacting the overall product demand.
Key players in the industry are continuously focusing on improving the manufacturing cost of the unidirectional tapes, which has emerged as the major growth constraint for the UD tapes market. In addition, the players are also employing efforts to commercialize the product usage in newly discovered applications, thereby increasing its market potential.
Unidirectional Tapes Market Report Highlights
• Thermoplastic unidirectional tapes segment accounted for the majority of the demand with USD 129.6 million revenue in 2019 owing to the low cost of the product as compared to other resin UD tapes
• Carbon fiber UD tapes segment dominated the market with 80.64% share in 2019 owing to superior strength to weight ratio and impact resistance offered by the tapes
• Sports and leisure end-use segment is expected to witness a notable CAGR of over 14.79% over the forecast period on account of rapidly rising usage of composite materials in the manufacturing of sports goods and equipment
• In 2019, North America market revenue stood at USD 72.4 million and the region is projected to expand at a CAGR of 13.7% over the forecast period owing to the presence of robust manufacturing base for aerospace and defense sector
• Key players in the industry are focusing on enhancement of the production process to make it more economical and also to commercialize the product usage in several novel applications
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Unidirectional Tapes Market Segmentation
Grand View Research has segmented the global unidirectional tapes market on the basis of resin, fiber, end use, and region:
Unidirectional Tapes Resin Outlook (Volume, Thousand Sq.M, Revenue, USD Million, 2016 - 2027)
• Thermoplastic UD Tapes
• Thermoset UD Tapes
Unidirectional Tapes Fiber Outlook (Volume, Thousand Sq.M, Revenue, USD Million, 2016 - 2027)
• Glass Fiber
• Carbon Fiber
• Other Fiber
Unidirectional Tapes End-use Outlook (Volume, Thousand Sq.M, Revenue, USD Million, 2016 - 2027)
• Aerospace & Defense
• Automotive
• Sports & Leisure
• Other Applications
Unidirectional Tapes Regional Outlook (Volume, Thousand Sq.M, Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
• Asia Pacific
o China
o Japan
o India
o South Korea
• Central & South America (CSA)
o Brazil
o Argentina
• Middle East & Africa (MEA)
List of Key Players in Unidirectional Tapes Market
• Evonik Industries
• SABIC
• Solvay
• Hexcel Corporation
• Royal Tencate
• SGL Group
• Teijin Limited
• BASF SE
• Celanese Corporation
• Victrex
• Cristex
• Eurocarbon
• PRF Composite Materials
• TCR Composites
• Sigmatex
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunit ...

News Release: Unidirectional Tapes Market Size Worth $517.9 Million By 2027
Submitted on: August 11, 2020 05:47:17 AM
Submitted by: sitakant
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