Carbon Fiber Tape Market - Trends Forecast Till 2028

Market Overview

The global Carbon Fiber Tape Market will witness a CAGR of 9.02% during the forecast period of 2021-2028.

Carbon fiber tape is a flat material made of carbon fiber that is suitable for graphite surface crack repair, lap joining, and sleeve winding, and specific strengthening of carbon fiber fabrication. Carbon fiber tapes are majorly applicable in aerospace and sporting goods industries for producing various materials such as golf shafts, bicycle frames, fuselage skins, and wing spars. In addition, they are applicable in medical, pipe & tank, automotive, and wind energy.

Growth in the demand for carbon fiber tape especially in the developing economies like India and China, growing use of carbon fiber tape for a wide range of end user applications such as aerospace and marine, wind energy, sporting goods, construction and infrastructure, and other applications, growth in the production of lightweight automobiles and surge in industrialization especially in the developing countries are some of the factors that have supported long-term expansion for Carbon Fiber Tape Market.

Owing to the outbreak of the COVID-19 pandemic, the global carbon fiber tape market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown.

Regional Analysis

North America accounts for the largest share in the carbon fiber tape market, owing to the growing economies of the US, Canada, the presence of prominent players, and expanding aerospace & defense industry. In North America, the US is projected to grow at the fastest rate during the forecast period. It is the largest market for carbon fiber tape in North America.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Evonik Industries
• SABIC
• ZOLTEK Corporation
• Teijin Limited
• Hexcel Corporation
• Toray Advanced Composites
• SGL Carbon
• Koninklijke DSM N.V.
• Mitsubishi Chemical Corporation

Recent Developments

• In April 2018, Solvay launched Evolite F1050, a high-performance PVDF carbon fiber composite tape for demanding oil & gas applications.
• In February 2019, Teijin acquired Renegade Materials Corporation, a supplier of highly heat-resistant thermoset prepreg for the aerospace industry in North America. This helped the company solidify its position as a leading provider of solutions for aerospace applications.

Reasons to Acquire

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• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope