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.

Market Trends: 

1. Growing Demand for Lightweight Materials:
   • Thermoplastic tapes are witnessing increased adoption due to a rising demand for lightweight materials in industries such as automotive and aerospace.
2. Sustainability Driving Material Choices:
   • Environmental concerns are steering the thermoplastic tape market, with a focus on sustainable and recyclable materials, aligning with global eco-friendly initiatives.
3. Expanding Applications in Construction:
   • The thermoplastic tape market is experiencing a trend toward broader applications in construction, where these tapes offer advantages in terms of strength, durability, and ease of use.
4. Innovations in Composite Manufacturing:
   • Ongoing innovations in composite manufacturing processes are influencing the thermoplastic tape market, enabling enhanced performance characteristics and opening up new possibilities for end-users.
5. Global Embrace of Advanced Manufacturing Techniques:
   • The market is witnessing a shift towards advanced manufacturing techniques, including automated production processes, which contribute to increased efficiency and product consistency in the thermoplastic tape industry.

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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.

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.

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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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.

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.

About Future Market Insights (FMI)

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