The global thermoplastic tape market is on a path of significant growth, with an anticipated valuation of US$ 2.3 billion in 2023 and a projected CAGR of 4.7% between 2023 and 2033, resulting in a total market worth of approximately US$ 3.6 billion by 2033. This growth is underpinned by the expansion of infrastructure development and construction activities worldwide.
One of the driving forces behind this market’s evolution is the advancement in manufacturing technologies, particularly the introduction of Automated Tape Laying (ATL) and Automated Fiber Placement (AFP) technologies. ATL allows for precise and automated placement of thermoplastic tapes onto substrates or molds, minimizing errors and enhancing product quality. Meanwhile, AFP technology is used to lay continuous fiber tapes onto surfaces, bolstering the strength and reinforcement of thermoplastic materials.
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ATL and AFP technologies not only ensure consistency and accuracy in tape placement but also contribute to efficiency, cost reduction, and sustainable manufacturing practices. These automated processes enhance productivity, minimize material waste, and facilitate the creation of complex and tailored geometries, ultimately optimizing the mechanical properties and overall performance of thermoplastic tape-based components.
As the demand for high-performance materials continues to rise in construction and other industries, the adoption of these advanced manufacturing technologies is expected to drive the growth and innovation within the thermoplastic tape market in the coming years.
The increasing demand for eco-friendly and biodegradable products is also expected to drive market growth. Thermoplastic tapes made from biodegradable materials, such as corn starch, are becoming increasingly popular as they are more environmentally friendly than traditional thermoplastic tapes.
There are various types of thermoplastic tape available in the market, such as polypropylene tape, polyethylene tape, nylon tape, and others. Among these, polypropylene tape is the most widely used due to its excellent mechanical properties and low cost. However, polyethylene tape is also gaining popularity due to its high strength and durability.
The thermoplastic tape market is segmented based on application, such as construction, automotive, packaging, and others. Among these, the construction segment is expected to dominate the market due to the increasing demand for thermoplastic tape in the construction of buildings and infrastructure projects. The automotive segment is also expected to witness significant growth due to the increasing use of thermoplastic tape in the production of vehicles.
In terms of geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Asia-Pacific is expected to dominate the market due to the increasing demand for thermoplastic tape in countries such as China, India, and Japan. The market in North America and Europe is also expected to grow due to the increasing demand for thermoplastic tape in the construction and automotive industries.
The major players operating in the thermoplastic tape market include 3M, Avery Dennison, Nitto Denko, Berry Global, Intertape Polymer Group, and Scapa Group. These companies are focusing on expanding their product portfolio and increasing their market presence through strategic collaborations and acquisitions.
In conclusion, the thermoplastic tape market is expected to grow in the coming years due to increasing demand from various end-use industries such as construction, automotive, and packaging. The increasing demand for eco-friendly and biodegradable products is also expected to drive the market growth. Companies operating in the market are focusing on expanding their product portfolio and increasing their market presence through strategic collaborations and acquisitions.
Manufacturers Foresee Lucrative Opportunities in East Asia
Europe will continue to hold a prominent share in the thermoplastic tape market. However, high growth opportunities are expected in East Asia in 2021 and beyond. China is anticipated to represent high incremental opportunity and maximum growth rate in the region. With mounting environmental concerns, the government in the country are continuously imposing regulations to reduce dependency on fossil fuel, which led to increased adoption of composites in automotive and aircraft manufacturing. As a result, thermoplastic tape is likely to gain significant traction in the East Asian countries.
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Industry Leader’s Perspective:
According to R&D Vice President of Arkema – leading player in the thermoplastic tape market, carmakers in Europe are focusing on the development of lighter vehicles by replacing metal components with composites, in order to achieve the carbon emissions cap for new cars which will drop from 130 grams to 95 grams per kilometre by 2020. The company’s thermoplastic is set to be a part of this solution, by offering lightweight, efficient, recyclable properties.
PAEK Resin Family Remain a Material of Choice
- By thickness, thermoplastic tape of 0.21-0.40 mm is expected to hold prominent value share in the market. Although it remains the most common thickness range used in the end-use industries, manufacturers are likely to focus on offering varying range of thickness to sustain the demand for different applications.
- On the basis of material, PAEK is a widely used resin family in thermoplastic tape, followed by polyamide resin. According to the manufacturers, high quality composites are formed when these materials are combined with carbon or glass fibers. However, the carbon-reinforced fiber provides more strength to thermoplastic tapes as compared to the glass-reinforced fiber.
- By end-use industry, significant adoption by the automotive industry will continue to account for relatively high sales.
Competitive Landscape
The key manufacturers operating in the thermoplastic tapes market are trying to focus on innovative product launch, expansion due to the increasing demand from the automotive and aerospace sectors.
- In May 2021, Teijin Limited launched a new carbon fiber thermoplastic unidirectional pre-impregnated tape. This tape is based on PPS.
- In Feb 2021, MaruHachi Corporation installed a new UP tape line for high-temperature thermoplastic tapes and multi-layer sheet laminates for demanding segments such as aerospace and automotive.
Thermoplastic Tape Market: Vendor Insights
The report highlights prominent market players who have established themselves as market leaders in the global thermoplastic tape market. Some of the key players operating in the global market are
- Evonik Industries AG,
- Toray Industries Inc.,
- Solvay S.A.,
- Teijin Ltd.,
- Mitsui Chemicals Inc. and
- Sabic Corporation, among others.
The global thermoplastic tape market is considered as consolidated with some market players holding prominent share of the market. Manufacturers in the thermoplastic tape market are investing in expansions and mergers to expand their product portfolio as well as their foothold in the market.
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Key Segments:
By Thickness:
- Up to 0.20 mm
- 0.21 – 0.40 mm
- More Than 0.40 mm
By Material Type:
- Fiber
- Carbon
- Glass
- Others
- Resin
- PAEK
- PC
- PA
- PET
- TPU
- PP
- Others (PPS, etc.)
By End Use:
- Aerospace
- Automotive
- Building & Construction
- Industrial Goods
- Oil & Gas
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa (MEA)
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
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