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Written by Business News » Updated on: August 21st, 2024
IMARC Group, a leading market research company, has recently released a report titled "Carbon Fiber Tape Market Report by Resin (Epoxy, Thermoplastic, Bismaleimide, Polyamide, and Others), Form (Prepreg Tape, Dry Tape), Manufacturing Process (Hot Melt, Solvent Dip), End Use Industry (Aerospace and Defense, Marine, Automotive, Construction and Infrastructure, Sporting Goods, and Others), and Region 2024-2032". The study provides a detailed analysis of the industry, including the carbon fibre tape market share, size, trends and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global carbon fiber tape market size reached US$ 2.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2032, exhibiting a growth rate (CAGR) of 8.6% during 2024-2032.
Request to Get the Sample Report: https://www.imarcgroup.com/carbon-fiber-tape-market/requestsample
Factors Affecting the Growth of the Carbon Fiber Tape Industry:
Increasing Product Demand in the Aerospace Industry:
The growing demand for carbon fiber tape in the aerospace industry as it offers exceptional strength-to-weight ratio, is acting as a growth-inducing factor. Moreover, the increasing product adoption by aircraft manufacturers for various components, such as wings, fuselage sections, and interior panels, to enhance fuel efficiency and reduce emissions is boosting the market growth. Additionally, the ongoing trend toward lighter aircraft, fueled by commercial aviation and defense sectors, thereby propelling the use of carbon fiber tapes in achieving the necessary performance standards is enhancing the market growth. Furthermore, the increasing production of aircraft, driven by rising air travel demand and the replacement of aging fleets, is boosting the market growth.
Growing Utilization of Carbon Fiber Tape in Automotive Lightweighting:
The ongoing shift in the automotive industry toward lightweighting to improve fuel efficiency and reduce emissions is positively impacting the market growth. In line with this, the increasing utilization of carbon fiber tapes in the production of high-performance vehicles, including electric vehicles (EVs) and luxury cars, where reducing weight is essential for enhancing performance and extending battery life, is fostering the market growth. Moreover, the heightened utilization of carbon fiber tapes in structural and semi-structural components, such as body panels, chassis parts, and interior components, to achieve significant weight reduction without compromising safety or durability is favoring the market growth.
Expanding Product Applications in Wind Energy:
The growing demand for carbon fiber tapes in the wind energy sector, as the industry continues to seek materials that can enhance the efficiency and longevity of wind turbines, is stimulating the market growth. In line with this, the increasing product application due to their high strength, stiffness, and fatigue resistance is anticipated to drive the market growth. These properties allow for the production of longer, lighter blades that can capture more wind energy, thus improving the overall efficiency of wind turbines. Besides this, the ongoing shift towards renewable energy sources, coupled with increasing investments in wind power projects, is boosting the market growth.
Speak to An Analyst: https://www.imarcgroup.com/request?type=report&id=9942&flag=C
Carbon Fiber Tape Market Report Segmentation:
By Resin:
Epoxy represented the largest segment as it provides excellent mechanical properties and chemical resistance.
By Form:
Prepreg tape accounted for the largest market share due to its widespread use in the aerospace and automotive industries for precision and consistency in composite manufacturing.
By Manufacturing Process:
Hot melt represented the largest segment as it allows for faster production and better control over resin content.
By End Use Industry:
Aerospace and defense constituted the largest segment as the sector relies on carbon fiber tapes for lightweight, high-strength components critical to aircraft and defense equipment.
Regional Insights:
North America's dominance in the carbon fiber tape market is attributed to the advanced aerospace, automotive industries, and significant investments in wind energy projects.
Global Carbon Fiber Tape Market Trends:
The increasing focus on sustainability and circular economy practices, prompting companies to explore the development of bio-based and recycled carbon fiber tapes, is creating a positive outlook for the market. Moreover, the rising innovations in the production process, such as using bio-resins combined with recycled carbon fibers, that create new possibilities for carbon fiber tapes to retain the material’s high-performance characteristics while reducing environmental impact is favoring the market growth. Additionally, rapid advancements in three-dimensional (3D) printing technology to allow for more efficient and customized designs in industries like aerospace, automotive, and medical devices are catalyzing the market growth.
Top Companies Operated in Carbon Fiber Tape Industry:
Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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