Carbon Fiber Tape: Introduction

  • Carbon fiber tape is a reinforcement tape that consists of thousands of parallel carbon fibers lightly bound together. Carbon fiber tape is ideal for usage in selective reinforcement of carbon fiber fabrications, sleeve winding, and lap joining and repairs of cracks on graphite surfaces. Carbon fiber tape is one of the highly popular materials used in production of composite parts for aerospace and automotive components.
  • Carbon fiber tape is known for its properties such as light weight, high strength, and high stiffness. Carbon fiber tape is referred as tape for its width and appearance; however, it is not backed by adhesives. Its unfinished edges provide clean and finished look and easy handling.
  • Carbon fiber tape is widely used in aerospace, automotive, marine, oil & gas, and other industrial applications

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Key Drivers of Global Carbon Fiber Tape Market

  • Rise in demand for lightweight vehicles is one of the major factors driving the sales of carbon fiber tape. According to a report published by the U.S. Department of Energy, a 10% reduction in vehicle weight can result in a 6%-8% fuel economy improvement. Carbon fiber tape-based composites are viable lightweight alternatives to metals. In the automotive sector, thermoplastic-based unidirectional tapes with endless carbon fiber reinforcements are used in automotive interior and exterior applications. Carbon fiber based composites are generally 60% lighter than their steel counterparts. Usage of this material also enables a reduction of weight of vehicles in transportation applications, thereby leading to energy reduction through fuel savings. This is estimated to propel the demand for lightweight materials such as carbon fiber tapes in the near future.
  • Demand for electric vehicles is likely to increase across the globe in the next few years. Under the Paris Climate Agreement of 2015, almost all countries except the U.S. have joined hands to keep the overall increase in global temperature to below 2°C. This would help decrease the adverse impact of climate change. Countries such as Norway, Iceland, the Netherlands, and China are providing subsidies to boost the electric vehicles sales in order to lower the carbon emission. Production and sale of electric vehicles are estimated to increase owing to rising environmental concerns in countries such as India and China in Asia Pacific. This, in turn, is likely to boost carbon fiber tape market in the next few years.
  • Quality standards of components used in the aviation industry are high. Lightweight components are especially relevant in the aviation industry. Carbon fiber tape is ideal for producing robust, durable components for usage as primary structural parts that can resist the toughest conditions. Led by higher ductility and molecular weight, mechanical benefits such as higher impact strength and lower notch sensitivity can be achieved to improve longevity and ease of fabrication. Excellent fatigue and impact resistance make carbon fiber tapes ideal for usage in aerospace applications. Increase in usage of advanced materials such as carbon fiber tapes instead of metal body is a key driver of the carbon fiber tape market.

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Covid-19 Impact on Carbon Fiber Tape Market

  • The COVID-19 pandemic and the subsequent halt in manufacturing activities is expected to adversely affect the supply of various raw materials. Carbon fiber tape is significant raw material that is used in the production of wing spars and fuselage & military airframes owing to its excellent set of properties such as high strength-to-weight ratio, high strength at high temperatures, and fatigue resistance. Boeing and Airbus are the only two aircraft manufacturers that employ carbon fiber tape in the production of aerospace components. The aviation industry has been severely impacted by the lockdown caused by the COVID-19 pandemic. Boeing, a U.S.-based aerospace company, reported a loss of US$ 641 Mn in Q1 of 2020 due to the lockdown. In a memo to employees, David Calhoun, CEO of Boeing, said that the company will reduce its production of large 787 and 777 jets and slowly resume production of the grounded 737 Max at low rates in 2020, gradually rising to 31 a month next year. As per the CEO, production of airline will gradually reach pre-Covid-19 level in 2022. Therefore, the impact of Covid-19 pandemic is estimated to be high on the carbon fiber tape market in 2020 and 2021.

North America to Hold Significant Share of Global Carbon Fiber Tape Market

  • In terms of region, the global carbon fiber tape market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America is a major consumer of carbon fiber tape across the globe. North America is likely to witness significant rise in demand for carbon fiber tape owing to expansion of production and manufacturing of electric vehicles in the region.
  • Europe followed North America in terms of demand for carbon fiber tape. Increase in demand for EV in Europe is expected to propel the demand for carbon fiber tape in the region.
  • Significant expansion of the automotive industry in South Korea, Japan, India, and China is projected to boost the demand for carbon fiber tape in these countries in the near future

Key Players Operating in Global Market

  • High initial capital investment and enactment of various government regulations on the usage of carbon fiber tape are estimated to hamper the entry of new players in the market

Key players operating in the global carbon fiber tape market include:

  • Evonik Industries
  • SABIC 
  • ZOLTEK Corporation
  • Teijin Limited
  • Hexcel Corporation
  • Toray Advanced Composites 
  • SGL Carbon
  • Koninklijke DSM N.V.
  • Mitsubishi Chemical Corporation

Global Carbon Fiber Tape Market: Research Scope

Global Carbon Fiber Tape Market, by Resin

  • Epoxy
  • Vinyl Ester
  • Polyester 
  • Polyamides
  • Polyether ether ketone (PEEK)
  • Others

Global Carbon Fiber Tape Market, by Form

  • Prepreg Tape
  • Dry Tape

Global Carbon Fiber Tape Market, by End-use Industry

  • Automotive
  • Aerospace & Defense
  • Marine
  • Oil & Gas
  • Construction
  • Others

Global Carbon Fiber Tape Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

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All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

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Carbon Fiber Tape Market