The thermoplastic tapes market is anticipated to be worth USD 2.2 billion in 2022 and grow at a compound annual growth rate (CAGR) of 4.7% to reach USD 3.0 billion by 2029.A recent study on the thermoplastic tape market by Future Market Insights (FMI) includes an opportunity assessment for the years 2022–2029 as well as a global industry analysis for the years 2014–2021. The study looks at the Thermoplastic Tape Market and offers important information for the 2022–2029 forecast period.
The global thermoplastic tape market is anticipated to increase significantly over the projected period, according to the report’s findings. Thermoplastic tape’s low cost and efficient performance in the production of automotive components are anticipated to propel market expansion in the years to come.
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In addition to enhancing visual appearance of the automotive parts, the diversification in usage and consumption of thermoplastic tape in different end-use sectors including aerospace and building & construction is likely to drive the market growth in the next ten years.
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.
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.
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Competitive Landscape
The key manufacturers operating in the thermoplastic tapes market are trying to focus on innovative product launches and 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.
Key Players:
- Evonik Industries AG
- Toray Advanced Composites
- Solvay S.A.
- Mitsui Chemicals Inc.
- Arkema S.A.
- Teijin Limited
- Covestro AG
- Koninklijke DSM N.V.
- Sabic Corporation
- MaruHachi Corporation
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Thermoplastic Tapes Market By Category
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
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East and Africa
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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