Carbon Fiber Tape Market

Carbon Fiber Tape Market Overview

“The global Carbon Fiber Tape Market size was valued at USD 1.68 billion in 2020, and projected to reach USD 5.75 billion by 2030, with a CAGR of 13.8% from 2023-2030.”

A tape for reinforcement made from thousands of carbon fibers bonded loosely together is known as carbon fiber tape. Carbon fiber tape is ideal in lap joins, sleeve winds, selectively strengthening carbon fibers as well as fixing fractures within graphite-based surfaces. A single of the commonly used materials for the production of composite components for aerospace and automotive component is carbon fibre tape. Carbon fiber is utilized to make flat materials known as carbon fiber tapes.

In order to construct aeroplanes that work better as well as lighter and consume less fuel carbon fiber tapes will be employed. Wing skins, spars for the wing, conduit, fuselage skins as well as access panels, rib stiffeners as well as floors, brackets and aprons are all constructed with carbon fiber tapes that are used in aeroplane parts. The best qualities from carbon fiber tapes are strong strength, high rigidity and abrasion resistance.

Carbon fibers are a great material for many reasons they possess, such as high stiffness as well as a high tensile strength. They also have a robust strength-to-weight ratio, superior chemical resistance, excellent thermal sensitivity, as well as minimal thermal expansion. These qualities make carbon fiber a sought-after material for auto racing, military aerospace, as well as other sports that require competitiveness. 

In comparison to fibers similar to them, like basalt, glass or the plastics, carbon fiber is nevertheless, quite expensive. In comparing the price of carbon fiber with steel used in automobile materials carbon fiber can be between 10 and 12 many times costlier. But, when compared with estimations made in the early 2000s, which suggested that carbon fiber would cost 35 times more than steel, this price premium has fallen over the last 10 years.

Carbon fibre tapes have become sought-after in the aviation industry due to their wide array of positive characteristics, such as light weight, high stiffness as well as high tensile strength and flawless residue removal. Because they are able to support a significant weight particularly in the construction and logistics industries, they are also regarded as industrial, which boosts the use of carbon fiber tape. 

Carbon fibre tapes facilitate the production of composite components for aircraft's primary and secondary structures because of their outstanding strength-to-weight ratio and excellent resistance to impact. To produce composite components with an affordable cost, while maintaining an aesthetic quality the automated tape-laying process is also utilized. The market is expected to be driven by the rising demand for carbon fiber tape in the aviation sector.

The high price in research and development, along with the cost in carbon fiber tapes could hinder the rate of growth. Because the total price of the final product is expensive due to the increase in costs at various stages, the demand for carbon fibre tape is likely to expand more slowly. Furthermore the carbon fibre market tape will be unable to grow due to impact of the lockdown on the raw material supply and demand. In addition, a small production capacity is currently limiting the demand for carbon fibre tapes.

The growing demand for lighter automobiles is among the major factors driving carbon fiber tape sales. Alternative metals which are useful and light include composites made using carbon fiber tape. Thermoplastic tapes that are unlimited in carbon fiber reinforcement can be commonly used in the automotive industry for both interior and exterior applications. Carbon fibre tapes typically weigh 40% less than standard tapes. 

In addition, this material makes cars lighter, which decreases the amount of fuel used and also saves energy. It is anticipated to grow over this Projected Period due to the increasing demand for carbon Fibre Tapes in the Production of Lightweight Vehicles.

The market is currently dominating by thermosetting resins, however, they aren't environmentally green. The market is dominating by thermosetting resins due to their ease of manufacturing, despite the fact that thermoplastic resins can be recycled and the cost of batch processing is inexpensive. Moving to an sustainable option that includes thermoplastic resins, will be difficult due to the increasing cost of carbon fiber and other raw materials due to the effects of inflation.

Demand Outlook

Carbon fiber tape boasts an excellent strength-to-weight ratio, making it appealing to businesses searching for light materials with superior mechanical properties. Industries like automotive, aerospace and sports equipment utilize carbon fiber tape in order to reduce weight and enhance performance.

The industries of defense and aerospace have a huge requirement for carbon fibre tape because of its toughness, stiffness as well as its resistance to corrosion. It is utilized for rotor blades, aircraft structure UAVs (also known as unmanned aircraft vehicles (UAVs) as well as other defense applications. Automotive industry is looking for ways to reduce the vehicle's weight to increase the efficiency of its fuels and also reduce emissions.

Carbon fiber materials are expensive in comparison to conventional materials such as aluminum and steel. The cost of carbon fibers in the raw form can affect the overall cost of the carbon fiber material and makes it more expensive in some applications. The production capacity of carbon fibers, which includes carbon fiber tapes, are very limited in comparison to other materials. Carbon fiber tape requires special manufacturing and design techniques which include precise layup as well as curing methods.

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Market Dynamics

Growth Drivers

The growing utilization of carbon-fiber tapes in the aerospace industry is among the major factors driving carbon fiber tape market's growth. Major aircraft manufacturers like Boeing and Airbus utilize carbon fiber tape for the production of parts for aircraft, which decreases the aircraft's weight. The high strength-to-weight ratio of carbon fiber-reinforced polymers makes it ideal for aerospace applications as aircraft engineers focus on creating lightweight and efficient structures for aircraft.

Additionally, automated fiber placement (AFP) from carbon fiber tape, followed with liquid resin infusion, or resin transfer molding (RTM) is utilized to boost efficiency, cost as well as sustainability in the coming version of the aircraft. These elements will enhance the usage in carbon fiber tape in manufacturing aircrafts and will positively impact the growth of the market during the forecast time.

Trend

The development of carbon fiber tape is among the major markets for carbon fiber that are positively impacting market growth. With the rising use of carbon fiber tape across a variety of major use-cases such as wind energy, aerospace, and the automotive industry, producers of carbon fiber tape market are creating new products with distinct functions. In Jan. 2022 Strohm along with Evonik Industries AG received the certification of DNV confirming that the unidirectional carbon fiber PA12 tape that Strohm uses for its Thermoplastic Composite Pipe (TCP) is suitable for be used for fluid acid and sweet hydrocarbons as well as gas and water applications.

The two companies, working together with Netherlands Aerospace Centre (NLR) assisted in the creation the qualification and distribution of PA12 for TCP applications, following an investment and test program during the last five years. This is the reason for the market for carbon fiber tape expansion.

Challenge

The price for carbon fibers is among the reasons that are hindering carbon fiber tape market's growth. Primarily, R&D and manufacturing costs for carbon fiber tape is more expensive than their counterparts. Because the automotive industry is highly price sensitive as well, the high prices that carbon fiber tape incurs restrict its usage in making light and fuel efficient vehicles.

 Although carbon fiber tape is utilized in the automotive industry for passenger vehicles, its rising cost has limited the use of it in luxury vehicles. Additionally, the industry faces challenges in the area of cost-cutting, automation, and the creation for a cost-effective manufacturing method that can be used for large-scale production. Therefore, due to the growing demands for carbon fiber tape for automotive, aerospace pressure vessel, and aerospace applications, the massive manufacturing of low-cost carbon fibre tape could pose a threat to the carbon fiber tape industry. This could limit carbon fiber tape market's growth in the coming forecast.

The Carbon Fiber Tape Market Analysis Report includes detailed information on emerging trends and issues which will have a significant impact on market growth. The practical insights into the issues and trends will assist companies in evaluating and formulate expansion strategies.

Carbon Fiber Tape Market Players

• Evonik Industries
• SABIC,
• ZOLTEK Corporation
• Teijin Limited
• Hexcel Corporation
• Toray Advanced Composites
• SGL Carbon
• Mitsubishi Chemical Corporation
• Solvay
• PRF Composite Materials
• TCR Composites
• Celanese Corporation
• Eurocarbon
• Sigmatex

Recent Developments in the Carbon Fiber Tape Market

May 23, 2023 - Evonik and ProductionToGo announced a new non-exclusive distribution arrangement for the company's 3D printing supplies. With this agreement, ProductionToGo was taking a step towards strengthening its position as a distributor in the quickly increasing market for high-performance 3D printing materials.

April 12, 2023 - TenaxTM ThermoPlastic Woven Fabric (TPWF) and TenaxTM ThermoPlastic Consolidated Laminate (TPCL), both of which were based on PEEK and carbon fibre, have received qualification from NCAMP (National Centre for Advanced Materials Performance).

Carbon Fiber Tape Market Segment Analysis

A large portion of market consisted of products that were made from epoxy. Epoxy resins are desired due to their extraordinary qualities and capacity to adapt to various manufacturing techniques. They are able to resist wear chemical resistance, the ability to withstand heat, transmissivity and hardness are important qualities. The most commonly used material for the production of carbon fiber is epoxy.

This is a thermoset material which is known for its remarkable electrical, mechanical and heat resistance properties. In addition, it is used in a variety of combinations of curing agents. It has superior mechanical, physical adhesion, shrinkage, and adhesion properties when compared to other resins.

Carbon fibre tapes that are unidirectional are typically made with the manufacturing process of hot melt which creates the desired results. Pressure and heat are utilized in a process that is two-stage called"hot melt "hot melt" to aid the fibres to absorb the resins. Because it uses water-based and solvent-free adhesives process is also more ecologically green as compared to the dip technique.

With the market share reaching 62.54 percent by 2021 Preg tapes was the dominant carbon fibre tape industry. Preg carbon fibre tapes that are unidirectional are the best option for making composite items that require a strong laminate structures and extended layup times. These tapes are ideal for use in the fields of infrastructure, business health, leisure and sports.

With an estimated market share of 28.1 20% in 2021 the category of aerospace and defence was the dominant segment of the carbon fibre tape market. The increasing use of CF materials in the Boeing Dreamliner and Airbus 350 is expected to have an impact on the increasing demand for carbon fibre tapes over the projected time.

Carbon fiber tapes can be employed to construct composite parts for secondary and primary components of aircrafts because of their outstanding strength-to-weight ratio, as well as their superior impact resistance. Furthermore the tape-laying process that is automated employed to create composite parts can produce parts that are more attractive with a lower price.

Regional Insights

With a portion of global sales of 36.0 percent, North America led the industry. The top aircraft manufacturers can be located throughout the United States, which is also the home of a significant capacity for carbon fiber tape production. It is therefore expected that the expansion of the aerospace industry's potential will have a positive influence on the growth of markets. Because of the entry of large international companies such as Bombardier to markets, Mexico has also seen an explosive growth in manufacturing and maintenance of aerospace repair, as well as service. Furthermore, the country is experiencing a dramatic growth in the production of cars that could allow the aerospace industry to grow.

Segments Covered in the Carbon Fiber Tape Market

Carbon Fiber Tape Market by Sales Resin

• Epoxy
• Polyamide
• Bismaleimide
• Thermoplastic
• Others

Carbon Fiber Tape Market by Manufacturing Process

• Hot Melt
• Solvent Dip

Carbon Fiber Tape Market by Form

• Prepreg Tape
• Dry Tape

Carbon Fiber Tape Market by End Use Industry

• Aerospace & Defense
• Marine
• Pipe & Tank
• Construction & Infrastructure
• Sporting Goods
• Others

Carbon Fiber Tape Market by Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

Frequently asked questions with answers

What is the worth of carbon fiber tape market?

The global Carbon Fiber Tape Market size was valued at USD 1.68 billion in 2020, and projected to reach USD 5.75 billion by 2030, with a CAGR of 13.8% from 2023-2030.

What are the upcoming trends of carbon fiber tape market globally?

Increasing use of customization and tailoring is a key trend gaining popularity.

Which are the top companies to hold the market share in carbon fiber tape market?

The global market is fragmented in nature with the presence of various key players such as Evonik Industries, SABIC, ZOLTEK Corporation, Teijin Limited, Hexcel Corporation, Toray Advanced Composites , SGL Carbon, Mitsubishi Chemical Corporation, Solvay, PRF Composite Materials, TCR Composites, Celanese Corporation, Eurocarbon, Sigmatex

Which is the largest regional market for carbon fiber tape market?

The North America dominated the global industry in 2021 and accounted for the maximum share of more than 36% of the overall revenue.

Segments Covered in the Carbon Fiber Tape Market

Carbon Fiber Tape Market by Sales Resin

• Epoxy
• Polyamide
• Bismaleimide
• Thermoplastic
• Others

Carbon Fiber Tape Market by Manufacturing Process

• Hot Melt
• Solvent Dip

Carbon Fiber Tape Market by Form

• Prepreg Tape
• Dry Tape

Carbon Fiber Tape Market by End Use Industry

• Aerospace & Defense
• Marine
• Pipe & Tank
• Construction & Infrastructure
• Sporting Goods
• Others

Carbon Fiber Tape Market by Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

1. Introduction
   • Market Definition
   • Market Segmentation
   • Research Timelines
   • Assumptions And Limitations
2. Research Methodology
   • Data Mining
     • Secondary Research
     • Primary Research
     • Subject-Matter Experts’ Advice
   • Quality Checks
     • Final Review
   • Data Triangulation
     • Bottom-Up Approach
     • Top-Down Approach
     • Research Flow
   • Data Sources
3. Executive Summary
4. Market Overview
   • Carbon Fiber Tape Market Outlook
     • Market Drivers
     • Market Restraints
     • Market Opportunities
   • Impact Of Covid-19 On Carbon Fiber Tape Market
   • Porter’s Five Forces Model
     • Threat From New Entrants
     • Threat From Substitutes
     • Bargaining Power Of Suppliers
     • Bargaining Power Of Customers
     • Degree Of Competition
   • Industry Value Chain Analysis
5. Global Carbon Fiber Tape Market By Resin
   • Epoxy
   • Polyamide
   • Bismaleimide
   • Thermoplastic
   • Others
6. Global Carbon Fiber Tape Market By Manufacturing Process
   • Hot Melt
   • Solvent Dip
7. Global Carbon Fiber Tape Market By Form
   • Prepreg Tape
   • Dry Tape
8. Global Carbon Fiber Tape Market By End Use Industry
   • Aerospace & Defense
   • Marine
   • Pipe & Tank
   • Construction & Infrastructure
   • Sporting Goods
   • Others
9. Global Carbon Fiber Tape Market By Region
   • North America
     • Us
     • Canada
     • Mexico
   • South America
     • Brazil
     • Argentina
     • Colombia
     • Rest Of South America
   • Europe
     • Germany
     • Uk
     • France
     • Italy
     • Spain
     • Russia
     • Rest Of Europe
   • Asia Pacific
     • India
     • China
     • Japan
     • South Korea
     • Australia
     • South-East Asia
     • Rest Of Asia Pacific
   • Middle East And Africa
     • Uae
     • Saudi Arabia
     • South Africa
     • Rest Of Middle East And Africa

10. Company Profiles*

10.1 Evonik Industries

10.2 Sabic

10.3 Zoltek Corporation

10.4 Teijin Limited

10.5 Hexcel Corporation

10.6 Toray Advanced Composites

10.7 Sgl Carbon

10.8 Mitsubishi Chemical Corporation

10.9 Solvay

10.10 Prf Composite Materials

10.11 Tcr Composites

10.12 Celanese Corporation

10.13 Eurocarbon

10.14 Sigmatex