Unidirectional Tape Market size Grows at a Staggering CAGR of 10.27%

Introduction

Unidirectional (UD) tapes are composite materials comprised of various rights real fibers. High tensile strength, tensile durability, rigidity, and impact resistance are characteristics of UD tapes. UD tapes are high-tech composites that provide an assortment of fiber or resin composites. These materials provide superior chemical resistance, durability, mechanical properties, and fire performance to meet the application's specifications. They have extensive applications in aerospace and defense, automotive, sports and recreation, and other industries with minimal material and energy consumption.

Market Dynamics

Growing Demand from Aerospace Industry Drives the Global Market

Unidirectional tapes in aircraft achieve high strength, rigidity, and abrasion resistance. These tapes are utilized in both the primary and secondary structures of aircraft. In aircraft, UD tapes can be used to improve the mechanical properties of a plastic component. The global demand for aircraft is rising, and the aerospace industry aims to implement innovative solutions to reduce production time and costs.

According to the Boeing Commercial Outlook 2021-2040, Asia-Pacific (excluding China) will experience approximately 8,945 new deliveries with a market service value of USD 1,945 billion by 2040. Thus, the rising number of aircraft deliverables is anticipated to increase manufacturing activities in the sector, which is anticipated to drive the demand for unidirectional tape in the aerospace industry over the forecast period.

Growing Emphasis on Sustainability Creates Tremendous Opportunities

The soaring emphasis on sustainability and environmental responsibility drives revenue growth in the market. Reduced material waste, energy efficiency during production, and recyclability constitute the eco-friendliness of unidirectional tapes. Environmentally friendly materials are in high demand due to the shift toward sustainable practices in construction, consumer goods, and packaging. With their potential for lightweight construction and resource efficiency, unidirectional tapes align with the increasing emphasis on sustainability, creating additional market expansion opportunities.

Regional Analysis

Asia-Pacific is the most significant global unidirectional tape market shareholder and is projected to exhibit a CAGR of 10.63% during the forecast period. Market demand is driven by the region's rapid industrialization, increasing investments in infrastructure development, and increasing adoption of advanced materials. China, India, Japan, and South Korea significantly impact the expansion of the Asia-Pacific market. In addition, the region's emphasis on sustainable construction practices, the rising demand for lightweight vehicles, and the presence of major manufacturing hubs all contribute to the development and widespread application of unidirectional tapes across various industries.

The increase in automobile sales in the region also contributes to market expansion. In 2021, the Chinese market had an annual growth in new car sales of 3.8%. According to the China Association of Automobile Manufacturers (CAAM), sales will surpass 27.5 million vehicles by January 2022. Moreover, the CAAM predicts that automobile production will continue rising with the demand for passenger cars. Thus driving the demand for unidirectional tapes.

Europe is expected to exhibit a CAGR of 10.11% over the forecast period. Europe's established manufacturing base, strong emphasis on sustainability, and technological advances all contribute to the expansion of the market. Germany, the United Kingdom, and France are essential for market adoption. Increased health concerns are likely to increase participation in sports and recreational activities. According to Statista, the German sports equipment market was worth USD 2.87 billion in 2021. The industry is projected to expand at a CAGR of 3.18 % between 2022 and 2026, reaching USD 3.58 billion in 2026. The rising demand for sports equipment will benefit the market for unidirectional tapes over the forecast period. In addition, Germany installed 1,92 GW of new onshore wind capacity in 2021, a 35% increase over the previous year. As a result, it is anticipated that the expansion of wind energy projects in the country to meet the climate goal will increase the demand for unidirectional tapes.

Key Highlights

• The global unidirectional tape market size was valued at USD 317.30 million in 2022. It is estimated to reach USD 764.86 million by 2031, growing at a CAGR of 10.27% during the forecast period (2023–2031).
• Based on reinforcement type, the global unidirectional tape market is divided into glass fiber, carbon fiber, and other reinforcement types. The carbon fiber segment owns the highest market share and is expected to exhibit a CAGR of 10.57% throughout the forecast period.
• Based on backing material, the global unidirectional tape market is divided into polyether ether ketone (PEEK), polyamide (PA), polypropylene (PP), polycarbonate (PC), polyphenylene sulfide (PPS), and other backing materials. The polyamide (PA) segment is the largest revenue contributor to the market and is predicted to exhibit a CAGR of 10.34% throughout the forecast period.
• Based on adhesive type, the global unidirectional tape market is bifurcated into epoxy, polyurethane, and other adhesive types. The polyurethane segment dominates the global market and is projected to exhibit a CAGR of 10.85% over the forecast period.
• Based on the end-user industry, the global unidirectional tape market is segmented into aerospace and defense, automotive, sports and leisure, industrial, wind energy, and other industries. The aerospace and defense segment owns the highest market share and is anticipated to exhibit a CAGR of 10.46% during the forecast period.
• Asia-Pacific is the most significant global unidirectional tape market shareholder and is projected to exhibit a CAGR of 10.63% during the forecast period.

Competitive Players

Competitive Players

The key global unidirectional tape market players are BÜFA Thermoplastic Composites GmbH & Co. KG, Hexcel Corporation, Celanese Corporation, Evonik Industries AG, Mitsui Chemicals Inc., Oxeon AB (TeXtreme), SABIC, Solvay, TCR Composites Inc., TOPOLO New Materials, Victrex plc, and others.

Recent Developments

Market News

• In January 2023, Asahi Kasei developed a new technology for recycling carbon fiber-reinforced plastic (CFRP) and carbon fiber-reinforced thermoplastics (CFRTP) used in automotive applications in collaboration with the National Institute of Technology, Kitakyushu College (Kyushu), and Tokyo University of Science.
• In January 2023, Victrex announced that the National Center for Advanced Materials Performance (NCAMP) had approved its new unidirectional tape (UDT), VICTREX AE™ 250-AS4, for use in aerospace programs.

Segmentation

Global Unidirectional Tape Market: Segmentation

By Reinforcement Type

• Glass Fiber
• Carbon Fiber
• Other Reinforcement Types

By Backing Material

• Polyether Ether Ketone (PEEK)
• Polyamide (PA)
• Polypropylene (PP)
• Polycarbonate (PC)
• Polyphenylene Sulfide (PPS)
• Other Backing Materials

By Adhesive Type

• Epoxy
• Polyurethane
• Other Adhesive Types

By End-User Industry

• Aerospace and Defense
• Automotive
• Sports and Leisure
• Industrial
• Wind Energy
• Other end-user Industries

By Regions

• North America
• Europe
• Asia-Pacific
• South America
• The Middle East and Africa