The global carbon tapes market is on an upward trajectory, with a 2023 valuation projected at US$ 3.7 billion. Anticipated growth over the assessment period is marked by a CAGR of 4.6%, ultimately driving the market to achieve a substantial US$ 5.8 billion by 2033.
In the foreseeable future, the carbon tapes sector is expected to maintain a favorable growth trajectory. According to the latest forecast from FMI, the revenue of carbon tapes is poised for further expansion from 2023 to 2033, offering an incremental growth opportunity estimated at US$ 2.1 billion.
FMI’s comprehensive analysis reveals that the carbon tapes market demonstrated significant strength in 2021, amassing a total revenue of US$ 3.43 billion. The increasing preference for prepreg tapes contributed to this growth, and by 2022, the top three countries collectively held a substantial market share, ranging from 35% to 40%.
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Drivers:
- Carbon Fiber Reinforcement: The carbon tapes market benefits from the increasing use of carbon fibers in composites for industries such as aerospace, automotive, and construction. These tapes are essential for reinforcing composite materials, contributing to their strength and lightweight properties.
- Aerospace and Automotive Demand: The aerospace and automotive industries are significant drivers of carbon tape demand. The need for lightweight and high-strength materials in these sectors promotes the use of carbon tapes in various applications, including structural components and interiors.
- Renewable Energy and Wind Turbines: Carbon tapes play a crucial role in the renewable energy sector, particularly in wind turbines. The growth of wind energy projects worldwide contributes to the demand for these tapes, which are used in turbine blades.
- Corrosion Resistance: Carbon tapes are corrosion-resistant and exhibit excellent durability. Their resistance to environmental factors and wear makes them suitable for applications in marine and offshore structures.
- Growing Sports Equipment Industry: The sports equipment industry relies on carbon tapes for manufacturing lightweight and durable products like tennis rackets, bicycle frames, and fishing rods. The increasing popularity of sports and outdoor activities drives demand in this sector.
Demand Outlook for the Global Carbon Tapes Sector
This innovative construction technique offers manifold advantages, primarily reducing both construction time and costs. Carbon tape-based reinforcements, particularly carbon plastic reinforcements, find applications in diverse domains, including residential and commercial construction, bridge engineering, industrial facility design, and utility infrastructure development. While metal structures are the primary beneficiaries, carbon tape is also effectively employed in restoring and fortifying stone and woodwork.
The substitution of traditional materials, particularly steel rebar, with carbon tapes in concrete structures is a prevalent practice within numerous end-use industries. Employing carbon tapes mitigates the risk of corrosion and rust accumulation on the concrete surface, contributing to enhanced durability and longevity.
Beyond construction, carbon tape has gained traction across various sports equipment applications, spanning from ice hockey sticks to running shoes, golf clubs, and tennis racquets. Its versatility extends to sports like horse riding, motorcycling, and mountaineering, where crash helmets made with carbon tapes offer crucial protection. The increasing engagement and participation in a wide array of sports contribute to the soaring demand for sporting equipment, thereby fueling the need for carbon tapes in the sports industry.
Key Players
- Techinstro
- Ted Pella, Inc.
- MBK Tape Solutions
- Nanoshel LLC
- Fabtech Systems, LLC
- Euro Tapes Private Limited
- Cevotec GmbH
- ARITECH CHEMAZONE PVT LTD.
- Hexcel Corporation
- Teijin Carbon Europe GmbH.
- Sabic Corporation
- Zoltek
- Victrex plc.
- TORAY INDUSTRIES, INC.
- Solvay
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Key Segments
By Resin:
- Epoxy
- Thermoplastic
- Polyamide
By Form:
- Prepreg Tapes
- Dry Tapes
By End Use:
- Aerospace & Defence
- Automotive
- Marine
- Building & Construction
- Sporting Goods
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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