The global carbon tapes market is on track to achieve a value of USD 3.7 billion in 2023, with a robust annual growth rate projected over the coming decade. Future Market Insights (FMI) projects that carbon tapes sales will grow at a CAGR of 4.6% through 2033, reaching an estimated market size of USD 5.8 billion by the end of the forecast period.
Leading industry players are driving significant growth in this sector, with the top five companies commanding approximately 25-30% of the global market share in 2022. The demand for prepreg tapes continues to accelerate, especially across the top three countries, which collectively hold 35-40% of the market share in 2022.
According to FMI’s analysis, carbon tapes generated a revenue of USD 3.43 billion in 2021, and the market’s growth outlook remains positive through 2033. The report forecasts that revenue will increase significantly, with an incremental growth opportunity of US$ 2.1 billion expected during the assessment period.
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A primary driver behind this growth is the expanding demand within the aerospace, defense, and automotive sectors, where carbon tapes are prized for their lightweight and high-strength properties. FMI anticipates that demand from these sectors will grow 1.6 times over the current market value by 2033, underscoring the importance of carbon tapes in high-performance applications.
Key Takeaways: Carbon Tapes Market
- By 2033, the carbon tapes market in the United Kingdom is likely to expand, with a CAGR of 2.8%.
- In 2022, the United States developed the carbon tapes business with a share of 24%.
- The carbon tapes market grew considerably to USD 3.6 billion in 2022.
- The carbon tapes sector expanded at a CAGR of 3.4% from 2018 to 2022.
- By 2033, China’s carbon tapes market is projected to develop with a CAGR of 7.7%.
- By 2033, India’s carbon tapes industry is projected to develop with a CAGR of 7.2%.
- Japan’s carbon tapes industry expanded significantly, with a 3.9% share in 2022.
- Australia’s carbon tapes sector grew with a share of 2.9% in 2022.
- In 2022, the epoxy segment dominated the market, with a share of 48%, based on resin.
- In 2022, the aerospace and defense segment dominated the market, with a share of 41.3%, based on end users.
Prominent Drivers of the Carbon Tapes Market
- Growing Demand in Aerospace and Defense: Carbon tapes are increasingly used in aerospace and defense for lightweight and high-strength components, enhancing fuel efficiency and structural integrity in aircraft and military equipment.
- Rise in Electric Vehicle (EV) Production: The shift towards EVs requires lighter materials to increase energy efficiency. Carbon tapes contribute to weight reduction, making them popular for EV body parts, battery enclosures, and structural reinforcements.
- Advancements in Sports Equipment Manufacturing: Carbon tapes are favored in sports and recreational equipment manufacturing (e.g., bikes, golf clubs, and tennis rackets) due to their durability and lightweight properties, enhancing product performance and athlete endurance.
- Increasing Use in Wind Energy Applications: Wind turbine manufacturers use carbon tapes for blade reinforcement, as they offer durability and strength-to-weight benefits essential for efficient, long-lasting wind turbines.
- Demand for Durable Construction Materials: Construction and infrastructure industries are adopting carbon tapes for strengthening and reinforcing materials. Their corrosion resistance and high tensile strength make them ideal for projects requiring long-term durability.
Competitive Landscape
The leading companies in the carbon tapes market are working on introducing upgraded products to meet rising demand. Additionally, significant players are attempting to extend their resources through mergers and acquisitions.
For instance:
- In January 2022, TORAY INDUSTRIES INC developed a new analytical technique for multi-material structures using unidirectional adhesive tape.
- In May 2021, Teijin Carbon Europe GmbH announced the introduction of a new thermoplastic unidirectional impregnated carbon fiber tape (TPUD) based on PPS.
- In a collaboration agreement signed in November 2021, Solvay and 9T Laboratories AG agreed that Solvay concentrate on the development of composite materials made of carbon fiber-reinforced polyetheretherketone (CF/PEEK), bio-based high performance polyamides, and polyphenylene sulfide (CF/PPS). The agreement greatly increases the variety of tidy and carbon fiber-reinforced materials that 9T Laboratories now provide to clients.
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.
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
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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