According to forecasts, the carbon tapes market is expected to be valued at US$ 3.7 billion in 2023 and US$ 5.8 billion by 2033.
End use industries use most common materials to replace the rebar in carbon tape-based concrete structures. Using carbon tape prevents damage or concrete as iron tends to accumulate rust on the surface.
Using these tapes during construction reduces time and cost required to install the structure. Carbon plastic reinforcements based on carbon tapes are used in home construction, bridge construction, processing plant design, and utility construction. Metal structures are the most common concrete structures, but carbon tape is used to repair and reinforce stone and woodwork.
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Future Opportunities
To retain the length of the fiber and enable load-related fiber orientation, researchers are concentrating on improving the recycling process for long recycled CF. As mentioned above, the initiative is anticipated to make it easier for industry participants to fully utilize carbon, favorably impacting the demand for carbon tapes in the future.
A significant market for carbon tapes exists in the United States, supported by the lengthy production plans of the Boeing and Airbus aircraft programs. Moreover, it is anticipated that ongoing research into enhancing the nation’s manufacture of composite components are likely to create new growth potential for the American market.
Key Takeaways
- 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 US$ 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.
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Competitors Winning Strategies
Important industry companies are working to increase their manufacturing capacity. The expanded manufacturing capacity is complemented by the fast-expanding range of applications for carbon tapes in the different end-use industries, increasing overall sales income.
Recent Developments:
- Hexcel joined forces with cross-country skiing industry pioneer Madshus in January 2020. Three different Hi Tape products are given to Madshus by the manufacturer based on the specific design requirements of several cross-country ski varieties. The performance, manufacturing effectiveness, and surface polish of Madshus’ skis is all improved by Hexcel’s new HiTape dry carbon tapes.
- Using unidirectional sticky tape, TORAY INDUSTRIES INC. created a novel analytical method for multi-material constructions in January 2022.
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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