< Key Hightlight >

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