Market Size of Carbon Fiber Tape Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 6.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
Carbon Fiber Tape Market Analysis
The global market for carbon fiber tape is expected to register a CAGR of over 6% during the forecast period. The major factor driving the market studied is the rapidly increasing demand from the aerospace industry. On the flip side, high processing and manufacturing cost of carbon fiber and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
The aerospace and defense industry is expected to dominate the global carbon fiber tape market over the forecast period.
North America is expected to dominate the global carbon fiber tape market during the forecast period owing to the increasing consumption from countries, such as the United States and Canada.
Carbon Fiber Tape Industry Segmentation
The Carbon Fiber Tape report includes:
Type | |
Prepreg Tape | |
Dry Tape |
Resin Type | |
Epoxy | |
Polyamide | |
Vinyl Ester | |
Polyurethane | |
Others |
End-user Industry | |
Aerospace and Defense | |
Automotive | |
Building and Construction | |
Marine | |
Energy | |
Others |
Geography | |||||||
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Carbon Fiber Tape Market Size Summary
The carbon fiber tape market is poised for significant growth, driven primarily by the burgeoning demand from the aerospace and defense sectors. This growth is fueled by the industry's need for lightweight materials that enhance fuel efficiency and reduce operational costs, as traditional materials like aluminum are being replaced. The unique properties of carbon fiber tape, such as high strength, stiffness, and resistance to heat and chemicals, make it an ideal choice for aerospace applications. The market is experiencing a surge in aircraft production due to rising global air traffic, with manufacturers focusing on innovative solutions to streamline manufacturing processes. However, the market faces challenges such as high processing costs and the lingering impacts of the COVID-19 pandemic, which could impede its growth trajectory.
North America is anticipated to lead the global carbon fiber tape market, with the United States and Canada playing pivotal roles due to their robust aerospace and construction industries. The U.S. aerospace sector, the largest globally, is witnessing an expansion in its commercial aircraft fleet, driven by increased air cargo demand. In Canada, major aerospace manufacturers are contributing to the sector's growth, further bolstering the demand for carbon fiber tape. Additionally, Mexico's aerospace industry is rapidly evolving, supported by government incentives, which is expected to enhance the market's expansion in the region. The market is characterized by a partial consolidation, with key players like Evonik Industries AG, Solvay, Hexcel Corporation, TORAY INDUSTRIES INC., and Cevotec GmbH leading the charge.
Carbon Fiber Tape Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Rapidly Increasing Demand from Aerospace Industry
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 High Processing and Manufacturing Cost of Carbon Fiber
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1.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Prepreg Tape
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2.1.2 Dry Tape
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2.2 Resin Type
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2.2.1 Epoxy
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2.2.2 Polyamide
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2.2.3 Vinyl Ester
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2.2.4 Polyurethane
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2.2.5 Others
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2.3 End-user Industry
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2.3.1 Aerospace and Defense
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2.3.2 Automotive
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2.3.3 Building and Construction
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2.3.4 Marine
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2.3.5 Energy
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2.3.6 Others
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2.4 Geography
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2.4.1 Asia-Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 Rest of Asia-Pacific
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2.4.2 North America
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2.4.2.1 United States
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2.4.2.2 Canada
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2.4.2.3 Mexico
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2.4.3 Europe
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2.4.3.1 Germany
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2.4.3.2 United Kingdom
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2.4.3.3 Italy
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2.4.3.4 France
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2.4.3.5 Rest of Europe
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle-East and Africa
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2.4.5.1 Saudi Arabia
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2.4.5.2 South Africa
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2.4.5.3 Rest of Middle-East and Africa
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Carbon Fiber Tape Market Size FAQs
What is the current Carbon Fiber Tape Market size?
The Carbon Fiber Tape Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Carbon Fiber Tape Market?
Evonik Industries AG , Solvay, Hexcel Corporation, TORAY INDUSTRIES, INC, and Cevotec GmbH are the major companies operating in the Carbon Fiber Tape Market.