Abstract
Summary
The thermoplastic tapes market is projected to grow from USD 2.7 billion in 2023 to USD 4.4 billion by 2028, at a CAGR of 10.5% during the forecast period. Carbon fibers are used in composites with a lightweight matrix for applications in extreme conditions such as high temperatures due to its chemical inertness, damping properties, and low cost. The use of carbon fiber thermoplastic tapes was majorly restricted to high-end applications such as aerospace & defense and luxury automobiles due to their high cost. However, over the years, the cost of these tapes has reduced drastically due to the advent of new technologies and a decreased cycle time for processing, thereby increasing their customer base.
In satellites and aeronautics manufacturing plants, carbon fiber tapes are used to make products lightweight and fuel efficient. Carbon fiber thermoplastic tapes also provide longer durability to the products. They are also used in sporting goods such as golf shafts, baseball bats, hockey sticks, and tennis rackets. The demand from various industries are driving the growth of carbon fiber in the market.
‘‘The PAEK resin type is projected to register the highest CAGR during the forecasted year’’
One of the most commonly used resins in thermoplastic tapes is PAEK. This material boasts high strength, good impact resistance, and flame retardance, among other desirable properties. It represents a whole family of thermoplastics, including PEEK, PEK, PEKK, and PEKEKK. These thermoplastic tapes are used for various applications, such as aircraft interiors, brackets, and seats, due to their ability to withstand high temperatures, chemical exposure, and fatigue.
PEKK composites are highly scratch and abrasion-resistant, making them suitable for use in the automotive, marine, medical, electronics, and aerospace industries. The increasing requirement of light weight aircraft is boosting the demand of PAEK prepregs.
“During the forecast period, the thermoplastic tapes market in North America region is projected to register the second highest market share, in terms of value”
The growth of the thermoplastic tapes market in the North America region is mainly driven by the growing aerospace & defense and automotive & transportation sectors. Low interest rates, presence of established players, stringent environmental regulations, and emphasizing the use of lightweight composite materials are also expected to drive the market. The region is home to some of the prominent manufacturers of thermoplastic tapes, such as Hexcel Corporation and Solvay. These companies manufacture high-quality thermoplastic tapes used in aerospace & defense, automotive & transportation, oil & gas, sporting goods, and medical & healthcare industries.
The demand for thermoplastic tapes is increasing due to their growing consumption by Boeing in its aircraft, which is one of the major aircraft manufacturers in the North American region. Thermoplastic tapes are used in primary and secondary structures of the aircraft, mainly in wing spars, wing skins, fuselage skin, access panels, rib stiffeners, brackets, conduit, and flooring.
This study has been validated through primary interviews with industry experts globally. These primary sources have been divided into the following three categories:
• By Company Type- Tier 1- 37%, Tier 2- 33%, and Tier 3- 30%
• By Designation- C Level- 50%, Director Level- 20%, and Others- 30%
• By Region- Europe- 50%, Asia Pacific (APAC) - 20%, North America- 15%, Middle East & Africa (MEA)-10%, Latin America- 5%,
The report provides a comprehensive analysis of company profiles:
Prominent companies include Toray Industries, Inc.(Japan), Teijin Limited (Japan), SGL Carbon (Germany), Solvay (Belgium), Hexcel Corporation (US), , SABIC (Saudi Arabia), Mitsui Chemicals, Inc. (Japan), Evonik Industries AG (Germany), Arkema (Netherlands), and BASF SE (US), among others.
Research Coverage
This research report categorizes the thermoplastic tapes market by fiber type (Carbon, Glass, and Others), resin type (PAEK, PA, PPS, PP, Others), application (Aerospace & Defense, Automotive & Transportation, Oil & Gas, Medical & Healthcare, Sporting Goods, and Others) & region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the thermoplastic tapes market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the thermoplastic tapes market. Competitive analysis of upcoming startups in the thermoplastic tapes market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall thermoplastic tapes market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Wide application in primary and secondary aircraft structures, High durability and fatigue resistance, reduced fuel consumption and carbon emission, easy recyclability), restraints (high processing and manufacturing cost), opportunities (Increased demand from various industries, rising need for electric vehicles, reduced carbon fiber cost), and challenges (development of low cost technologies, limited use of carbon fiber in high temperature applications) influencing the growth of the thermoplastic tapes market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the thermoplastic tapes market
• Market Development: Comprehensive information about lucrative markets – the report analyses the thermoplastic tapes market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the thermoplastic tapes market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Toray Industries, Inc.(Japan), Teijin Limited (Japan), SGL Carbon (Germany), Solvay (Belgium), Hexcel Corporation (US), SABIC (Saudi Arabia), Mitsui Chemicals, Inc. (Japan) among others in the fiberglass market
Table of Contents
1 INTRODUCTION 28
1.1 STUDY OBJECTIVES 28
1.2 MARKET DEFINITION 28
1.2.1 INCLUSIONS AND EXCLUSIONS 28
1.3 STUDY SCOPE 29
1.3.1 REGIONS COVERED 29
1.3.2 YEARS CONSIDERED 30
1.4 CURRENCY CONSIDERED 30
1.5 UNITS CONSIDERED 30
1.6 LIMITATIONS 30
1.7 STAKEHOLDERS 31
2 RESEARCH METHODOLOGY 32
2.1 RESEARCH DATA 32
2.1.1 SECONDARY DATA 33
- 2.1.1.1 Key data from secondary sources 33
2.1.2 PRIMARY DATA 34
- 2.1.2.1 Key data from primary sources 34
- 2.1.2.2 Key primary participants 34
- 2.1.2.3 Breakdown of primary interviews 35
- 2.1.2.4 Key industry insights 35
2.2 BASE NUMBER CALCULATION 36
2.2.1 APPROACH 1: DEMAND-SIDE ANALYSIS 36
2.2.2 APPROACH 2: SUPPLY-SIDE ANALYSIS 37
2.3 FORECAST NUMBER CALCULATION 37
2.3.1 SUPPLY SIDE 37
2.3.2 DEMAND SIDE 37
2.4 MARKET SIZE ESTIMATION 38
2.4.1 BOTTOM-UP APPROACH 38
2.4.2 TOP-DOWN APPROACH 38
2.5 DATA TRIANGULATION 39
2.6 RECESSION IMPACT 40
2.7 FACTOR ANALYSIS 40
2.8 ASSUMPTIONS 41
2.9 LIMITATIONS AND RISKS 41
3 EXECUTIVE SUMMARY 42
4 PREMIUM INSIGHTS 45
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN THERMOPLASTIC TAPES MARKET 45
4.2 THERMOPLASTIC TAPES MARKET, BY RESIN TYPE 45
4.3 THERMOPLASTIC TAPES MARKET, BY FIBER TYPE 46
4.4 THERMOPLASTIC TAPES MARKET, BY END-USE INDUSTRY 46
4.5 THERMOPLASTIC TAPES MARKET, BY KEY COUNTRY 47
5 MARKET OVERVIEW 48
5.1 INTRODUCTION 48
5.2 MARKET DYNAMICS 48
5.2.1 DRIVERS 48
- 5.2.1.1 Wide application in primary and secondary aircraft structures 48
- 5.2.1.2 High durability and fatigue resistance 49
- 5.2.1.3 Reduced fuel consumption and carbon emission 49
- 5.2.1.4 Increasing adoption of eco-friendly products 49
5.2.2 RESTRAINTS 49
- 5.2.2.1 High processing and manufacturing costs 49
5.2.3 OPPORTUNITIES 50
- 5.2.3.1 Increased demand from various industries 50
- 5.2.3.2 Rising need for electric vehicles 50
- 5.2.3.3 Reduced carbon fiber cost 50
5.2.4 CHALLENGES 50
- 5.2.4.1 Development of low-cost technologies 50
- 5.2.4.2 Limited use of carbon fiber tapes in high-temperature applications 50
5.3 PORTER’S FIVE FORCES ANALYSIS 51
5.3.1 THREAT OF NEW ENTRANTS 51
5.3.2 THREAT OF SUBSTITUTES 52
5.3.3 BARGAINING POWER OF SUPPLIERS 52
5.3.4 BARGAINING POWER OF BUYERS 52
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 52
5.4 SUPPLY CHAIN ANALYSIS 53
5.5 PRICING ANALYSIS 54
5.5.1 AVERAGE SELLING PRICE, BY END-USE INDUSTRY 54
5.5.2 AVERAGE SELLING PRICE, BY FIBER TYPE 55
5.5.3 AVERAGE SELLING PRICE, BY RESIN TYPE 55
5.5.4 AVERAGE SELLING PRICE, BY REGION 56
5.6 KEY STAKEHOLDERS AND BUYING CRITERIA 56
5.6.1 KEY STAKEHOLDERS IN BUYING PROCESS 56
5.6.2 BUYING CRITERIA 57
5.7 TECHNOLOGY ANALYSIS 58
5.8 KEY CONFERENCES AND EVENTS, 2023-2024 58
5.9 REGULATORY LANDSCAPE 60
5.9.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 60
5.10 ECOSYSTEM MAPPING 61
5.10.1 RAW MATERIAL ANALYSIS 61
5.10.2 MANUFACTURING PROCESS ANALYSIS 61
5.10.3 FINAL PRODUCT ANALYSIS 62
5.11 VALUE CHAIN ANALYSIS 62
5.12 IMPORT-EXPORT SCENARIO 63
5.12.1 JAPAN 63
5.12.2 US 63
5.12.3 GERMANY 63
5.12.4 FRANCE 63
5.12.5 CHINA 63
5.13 CASE STUDY ANALYSIS 64
5.14 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 65
5.15 PATENT ANALYSIS 65
5.15.1 METHODOLOGY 65
5.15.2 DOCUMENT TYPES 65
5.15.3 INSIGHTS 67
5.15.4 LEGAL STATUS 67
5.15.5 JURISDICTION ANALYSIS 67
5.15.6 TOP APPLICANTS 68
6 THERMOPLASTIC TAPES MARKET, BY FIBER TYPE 70
6.1 INTRODUCTION 71
6.2 GLASS FIBERS 72
6.2.1 USED TO BUILD PARTS & MOLDS 72
6.3 CARBON FIBERS 73
6.3.1 USED IN SPORTING GOODS 73
6.4 OTHER FIBERS 74
7 THERMOPLASTIC TAPES MARKET, BY END-USE INDUSTRY 76
7.1 INTRODUCTION 77
7.2 AEROSPACE & DEFENSE 78
7.2.1 NEED FOR FUEL-EFFICIENT AND ADVANCED AIRCRAFT TO DRIVE MARKET 78
7.3 AUTOMOTIVE & TRANSPORTATION 80
7.3.1 RISING DEMAND FOR LIGHTWEIGHT VEHICLES TO REDUCE FUEL CONSUMPTION 80
7.4 OIL & GAS 81
7.4.1 USE OF THERMOPLASTIC TAPES IN DEEP-SEA OIL FACILITIES TO PROPEL MARKET 81
7.5 SPORTING GOODS 82
7.5.1 USE OF SMALL TOW CARBON FIBERS TO BOOST MARKET 82
7.6 MEDICAL & HEALTHCARE 83
7.6.1 INCREASING INVESTMENT IN MEDICAL AND PHARMA INDUSTRIES TO PROPEL MARKET 83
7.7 OTHER END-USE INDUSTRIES 84
7.7.1 CONSTRUCTION & INFRASTRUCTURE 84
7.7.2 PIPES & TANKS 84
7.7.3 ENERGY 85
8 THERMOPLASTIC TAPES MARKET, BY RESIN TYPE 86
8.1 INTRODUCTION 87
8.2 POLYARYLETHERKETONE 88
8.2.1 GOOD THERMAL STABILITY AND LOW FRICTION COEFFICIENT 88
8.3 POLYAMIDE 89
8.3.1 HIGH RESISTANCE TO HEAT AND CHEMICAL ATTACK 89
8.4 POLYPHENYLENE SULFIDE 90
8.4.1 THERMALLY STABLE AND CORROSION RESISTANT 90
8.5 POLYPROPYLENE 91
8.5.1 OFFERS SUPERIOR STRENGTH AND CHEMICAL RESISTANCE 91
8.6 OTHER RESIN TYPES 92
9 THERMOPLASTIC TAPES MARKET, BY REGION 94
9.1 INTRODUCTION 95
9.2 NORTH AMERICA 96
9.2.1 US 100
- 9.2.1.1 Presence of well-established players to drive market 100
9.2.2 CANADA 102
- 9.2.2.1 Growth of manufacturing sector to propel market 102
9.3 EUROPE 103
9.3.1 GERMANY 107
- 9.3.1.1 Strong manufacturing base and infrastructure to drive market 107
9.3.2 FRANCE 108
- 9.3.2.1 Increasing demand in aerospace & defense sector to propel market 108
9.3.3 UK 109
- 9.3.3.1 High demand for fuel-efficient and lightweight vehicles to boost market 109
9.3.4 ITALY 110
- 9.3.4.1 Growth of automotive & transportation sector to fuel demand for thermoplastic tapes 110
9.3.5 SPAIN 111
- 9.3.5.1 Use of composites in aircraft to boost market 111
9.3.6 REST OF EUROPE 112
9.4 ASIA PACIFIC 113
9.4.1 CHINA 118
- 9.4.1.1 Demand for sporting goods to drive market 118
9.4.2 JAPAN 119
- 9.4.2.1 Production of high-quality thermoplastic tapes to drive market 119
9.4.3 SOUTH KOREA 120
- 9.4.3.1 Presence of major automotive companies to boost market 120
9.4.4 AUSTRALIA 121
- 9.4.4.1 Increasing demand for electric vehicles to propel market 121
9.4.5 TAIWAN 122
- 9.4.5.1 Growth of sporting goods industry to drive market 122
9.4.6 REST OF ASIA PACIFIC 123
9.5 MIDDLE EAST & AFRICA 124
9.5.1 UAE 127
- 9.5.1.1 Investment by leading players to fuel market growth 127
9.5.2 SOUTH AFRICA 129
- 9.5.2.1 Growth of automotive & transportation sector to drive market 129
9.5.3 REST OF MIDDLE EAST & AFRICA 130
9.6 LATIN AMERICA 131
9.6.1 BRAZIL 134
- 9.6.1.1 Growth of aerospace & defense sector to boost market 134
9.6.2 MEXICO 135
- 9.6.2.1 Expansion of automotive & transportation sector to propel market 135
9.6.3 REST OF LATIN AMERICA 136
10 COMPETITIVE LANDSCAPE 138
10.1 INTRODUCTION 138
10.2 MARKET SHARE ANALYSIS 138
10.3 RANKING OF KEY PLAYERS 139
10.4 REVENUE ANALYSIS OF TOP MARKET PLAYERS 140
10.5 COMPANY EVALUATION MATRIX 141
10.5.1 STARS 142
10.5.2 PERVASIVE PLAYERS 142
10.5.3 PARTICIPANTS 143
10.5.4 EMERGING LEADERS 143
10.6 MARKET EVALUATION FRAMEWORK 144
10.7 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 147
10.8 SME EVALUATION MATRIX 149
10.8.1 PROGRESSIVE COMPANIES 149
10.8.2 RESPONSIVE COMPANIES 149
10.8.3 DYNAMIC COMPANIES 149
10.8.4 STARTING BLOCKS 149
11 COMPANY PROFILES 151
11.1 KEY PLAYERS 151
11.1.1 EVONIK INDUSTRIES AG 151
11.1.2 SOLVAY 154
11.1.3 TORAY INDUSTRIES, INC 158
11.1.4 MITSUI CHEMICALS, INC 162
11.1.5 SABIC 164
11.1.6 HEXCEL CORPORATION 166
11.1.7 TEIJIN LIMITED 169
11.1.8 ARKEMA 172
11.1.9 SGL CARBON 175
11.1.10 BASF SE 178
11.2 OTHER PLAYERS 180
11.2.1 3M 180
11.2.2 PARK AEROSPACE CORP 180
11.2.3 CHOMARAT 181
11.2.4 SIGMATEX 181
11.2.5 DSM 182
11.2.6 CELANESE CORPORATION 182
11.2.7 AVIENT 183
11.2.8 TCR COMPOSITES, INC 183
11.2.9 VICTREX PLC 184
11.2.10 COMPTAPE 184
11.2.11 MITSUBISHI CHEMICAL GROUP 185
12 APPENDIX 186
12.1 DISCUSSION GUIDE 186
12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 189
12.3 CUSTOMIZATION OPTIONS 191
12.4 RELATED REPORTS 191
12.5 AUTHOR DETAILS 192