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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 study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Carbon Fiber Tape Market

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