Global Fiber-reinforced Thermoplastic Tape Market: Overview
The fiber-reinforced thermoplastic tape is combining the properties of plastics and fibers. These tapes provide high flexibility, durability, and non-corrosive property. The fiber-reinforced thermoplastic tape contains 55-80% fiber by weight, which results in lighter weight and enhanced performance. The manufacturers in the industry are looking forward to investing in more complex structures using automated tape laying technology. Fiber-reinforced thermoplastic tape market outlook is expected to be positive during the forecast period. The increasing consumption in the automotive and industrial sector is expected to create high demand for fiber-reinforced thermoplastic tape, as it provides excellent flexibility and strength. The addition of fiber-reinforced thermoplastic tape increases mechanical strength as well as stiffness at average temperatures. The fiber-reinforced thermoplastic tape is easily recyclable as compared to thermoset-based tapes, which is expected to increase their consumption in the upcoming years. The key driving factor for the use of fiber-reinforced thermoplastic tape is the increasing usage of more sustainable and recyclable packaging products.
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Global Fiber-reinforced Thermoplastic Tape Market: Dynamics
The fiber-reinforced thermoplastic tape helps in reducing weight while maintaining strength and impact resistance in a variety of applications. However, difficulties at high and low temperatures may reduce the consumption of fiber-reinforced thermoplastic tape. Composite used are manufacture fiber-reinforced tapes are highly flexible at average temperatures but harden when the material is subjected to high and low temperatures. Fiber-reinforced thermoplastic tape market is expected to expand at a moderate CAGR during the forecast period, owing to an increase in demand for lightweight packaging alternatives. The manufacturers in the thermoplastic tapes market are investing in automated reinforcement technologies, which is expected to drive the global fiber-reinforced thermoplastic tape market in the upcoming years. The introduction of automated tape laying technology is expected to boost the fiber-reinforced thermoplastic tape market during the forecast period. Generally, carbon, glass, aramid, and basalt fibers are used to manufacture fiber-reinforced thermoplastic tape, while paper wood and asbestos are used in specific cases.
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Global Fiber-reinforced Thermoplastic Tape Market: Segmentation
Fiber-reinforced thermoplastic tape market is classified on the basis of fiber type, material, thickness, and end use
On the basis of fiber type, the global Fiber-reinforced Thermoplastic Tape market is segmented as follows
- Others (asbestos, paper, etc.)
On the basis of material type, the global Fiber-reinforced Thermoplastic Tape market is segmented as follows
- Polypropylene (PP)
- Polyethylene (PE)
- Polyamide (PA)
- Polyethylene Terephthalate (PET)
- Others (PETG, Phenylenesulfide, etc.)
On the basis of thickness, the global Fiber-reinforced Thermoplastic Tape market is segmented as follows
- <0.30 mm
- 0.30-60 mm
- >60 mm
On the basis of end use, the global Fiber-reinforced Thermoplastic Tape market is segmented as follows
- Building & Construction
- Logistics & Transportation
- Military & Sports Tools
- Electrical & Electronics
- Other Industrial
Global Fiber-reinforced Thermoplastic Tape Market: Key Players and Trends
Some of the leading manufacturers in the fiber-reinforced thermoplastic tape market includes Toray Industries Inc., PolyOne Corporation, Saudi Basic Industries Corporation (SABIC), and Celanese Corporation. Leading manufacturers are looking forward to invest in providing diversified product portfolio, as they provide higher mechanical strength after application. This factor is expected to increase the growth rate of fiber-reinforced thermoplastic tape market in the near future.
Global Fiber-reinforced Thermoplastic Tape Market: Regional Outlook
In European countries such as Germany, Italy, and the United Kingdom, the global fiber-reinforced thermoplastic tape market is expected to represent high intensity in terms of the manufacturer’s presence. North American region is expected to hold prominent market value share owing to the presence of a large number of fiber-reinforced thermoplastic tape manufacturer. Fiber-reinforced thermoplastic tape market in the East Asian region is expected to create higher incremental opportunity in the next decade. The demand for protective as well as lightweight industrial packaging is expected to bolster the growth of fiber-reinforced thermoplastic tape market in the upcoming years.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with fiber-reinforced thermoplastic tape market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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
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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
- Latin America
- The Middle East and Africa
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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.
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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.