Summary
Table of Content
Carbon Fiber Tape Market
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Carbon Fiber Tape Market Size
Carbon Fiber Tape Market was valued at around USD 1.7 billion in 2022 and is estimated to reach USD 5.5 billion by 2032. Carbon fiber tape offers a high strength-to-weight ratio, making it attractive to industries seeking lightweight materials with excellent mechanical properties. Industries like aerospace, automotive, and sports equipment use carbon fiber tape to reduce weight and improve performance.
To get key market trends
The aerospace and defense industries have a significant demand for carbon fiber tape due to its strength, stiffness, and resistance to corrosion. It is used in aircraft structures, rotor blades, unmanned aerial vehicles (UAVs), and various defense applications. The automotive industry seeks ways to reduce vehicle weight to improve fuel efficiency and reduce emissions.
Carbon Fiber Tape Market Report Attributes
| Key Takeaway | Details |
|---|---|
| Market Size & Growth | |
| Base Year | 2018 |
| Market Size in 2018 | USD 1.7 Billion |
| Forecast Period 2023 to 2032 CAGR | 12.5% |
| Market Size in 2032 | USD 5.5 Billion |
| Key Market Trends | |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Carbon fiber materials are relatively expensive compared to traditional materials like steel and aluminum. The high cost of raw carbon fibers contributes to the overall cost of carbon fiber tape, making it less cost-competitive in certain applications. The production capacity for carbon fiber materials, including carbon fiber tape, is limited compared to conventional materials. Carbon fiber tape requires specialized design and manufacturing processes, including precise layup and curing procedures.
COVID-19 Impact
Several industries that are significant consumers of carbon fiber tape, such as aerospace, automotive, and sports equipment, experienced a slowdown in demand during the pandemic. Lockdowns and reduced economic activity affected new projects and investment decisions in these industries.
Carbon Fiber Tape Market Trends
The trend of lightweighting in various industries, such as aerospace, automotive, and sports equipment, has led to an increased demand for carbon fiber tape. Carbon fiber's high strength-to-weight ratio makes it a preferred material to reduce overall weight and improve performance. The automotive industry is increasingly adopting carbon fiber tape to manufacture lightweight components for vehicles. Carbon fiber composites help improve fuel efficiency, reduce emissions, and enhance overall vehicle performance.
Carbon Fiber Tape Market Analysis
Learn more about the key segments shaping this market
Based on product, the carbon fiber tape market is segmented as epoxy-based, thermoplastic-based, others. Epoxy based held a majority market value of USD 0.8 billion in 2022. Epoxy resin-based carbon fiber tape is widely used in the aerospace and defense industries for its high strength, stiffness, and excellent adhesion to carbon fibers. It is used in aircraft components, rotor blades, UAVs, and other defense applications.
Learn more about the key segments shaping this market
Based on form, the carbon fiber tape market is segmented as prepreg tape, dry tape. Prepreg Tape box held a dominant market share of around 60% in 2022. Prepreg carbon fiber tape is widely used in high-performance applications, including aerospace, automotive, and sports equipment. The prepreg form ensures consistent resin impregnation and facilitates ease of handling during layup.
Based on end-use the carbon fiber tape market is segmented as aerospace and defense, automotive, wind energy, sports and recreation, construction, others. Aerospace and Defense held a dominant industry share in 2022 and is anticipated to grow at 9.7% CAGR by 2032. The aerospace and defense industries demand carbon fiber tape for its high strength-to-weight ratio, which allows for lighter and more fuel-efficient aircraft and defense equipment.
Looking for region specific data?
U.S. dominated the North American region with majority carbon fiber tape market share and a revenue of USD 1.7 billion in 2022. The aerospace and defense industries demand carbon fiber tape for its high strength-to-weight ratio, which is crucial for aircraft, rotorcraft, UAVs, and military applications.
Carbon Fiber Tape Market Share
Some of the major carbon fiber tape market players operating in the industry are:
- Toray Industries, Inc
- Mitsubishi Chemical Corporation
- SGL Carbon SE
- Teijin Limited (Teijin Carbon)
- Hexcel Corporation
- Solvay S.A
- Cytec Industries
- Zoltek Companies, Inc.
- A&P Technology Inc
- Toray Composite Materials America, Inc
- CompoTech Plus s.r.o
- Sigmatex Group
- Axiom Materials Inc
- Eurocarbon B.V
- Carbon Composites e.V.
Carbon Fiber Tape Industry News:
- In November 2021, Solvay and 9T Labs AG agreed to a partnership agreement where Solvay will focus on the development of carbon fiber-reinforced polyetheretherketone (CF/PEEK), CFreinforced bio-based high-performance polyamides and CF-reinforced polyphenylene sulfide (CF/PPS) composite materials.
Carbon fiber tape market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:
By Raw Material
- Epoxy-Based
- Thermoplastic-Based
- Other
By Product
- Prepreg Tape
- Dry Tape
By Application
- Aerospace and Defense
- Automotive
- Wind Energy
- Sports and Recreation
- Construction
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
Frequently Asked Question(FAQ) :
Who are the key players in the carbon fiber tape market?
Some of the prominent carbon fiber tape companies are Toray Industries, Inc., Mitsubishi Chemical Corporation, SGL Carbon SE, Teijin Limited (Teijin Carbon), Hexcel Corporation, Solvay S.A., Cytec Industries, Zoltek Companies, Inc., A&P Technology, Inc, Toray Composite Materials America, Inc., CompoTech Plus s.r.o., and Sigmatex Group.
What is the size of the U.S. carbon fiber tape industry market?
U.S. industry size recorded USD 1.7 billion in 2022 and will see significant growth through 2023 - 2032, owing to the robust application in aircraft, rotorcraft, UAVs, and military operations.
How big is the carbon fiber tape market?
Global market for carbon fiber tape recorded USD 1.7 billion in 2022 and is estimated to register USD 5.5 billion by 2032, due to increasing demand for carbon fiber tape in the aerospace and defense industries worldwide.
What factors are encouraging the adoption of epoxy products?
The carbon fiber market share from the epoxy segment was worth USD 0.8 billion in 2022 and is expected to witness rapid growth through 2032, due to rapid and widespread usage owing to the high strength, stiffness, and excellent adhesion of epoxy fiber tape.
