The market is estimated to witness high demand owing to its rising application in the lightweight and high-strength components from the automotive industry. Moreover, increasing government pressure on improving fuel efficiency is estimated to drive the demand for lightweight parts, thereby propelling the growth of the product. The unidirectional tapes in automotive are extensively used to provide a solution to problems like aesthetics, safety, and efficiency. The expansion of the automotive industry in developing regions such as India, Indonesia, Japan, China, and others is estimated to boost the market growth in the next few years.
The global Unidirectional Tapes Market is forecast to reach USD 499.0 Million by 2027, according to a new report by Reports and Data. This is estimated to grow at a rapid pace over the forecasted period owing to its increasing demand from industries such as aerospace & defense, automotive, and others. The product consists of endless fibers that are embedded into the thermoplastic or thermoset polymer matrix and are oriented in one direction.
Across the globe, industries are implementing techniques to cost-efficiently manufacture parts that have low weight and high mechanical strength. The unidirectional tapes are expected to serve the aims aforementioned and increase demand for various other applications.
Key participants include:
Evonik Industries, SABIC, Solvay, Hexcel Corporation, Royal Tencate, SGL Group, Teijin Limited, Celanese Corporation, BASF, and Victrex, among others.
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The product processing advantages, including the no emission of volatile matter, shorter cycle time, and the ability to remold is expected to be the key driving factors. Moreover, these tapes are recyclable, which further promotes its application in different end-use industries, including sports goods, transportation, and others. The superior chemical resistance boosts its demand across various industrial applications.
The Unidirectional (UD) Tapes market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. The Unidirectional (UD) Tapes market has been growing steadily over the past decade and CAGR is expected to improve over the forecast period. It is also likely to be one of the industries influencing global revenue generation. Rapidly growing demand, an abundance of raw materials, population growth, financial stability, and product awareness are some of the factors that make progress directly and indirectly in the market.
For the purpose of this report, Reports and Data have segmented into the global Kraft Liner market on the basis of Product, Basis Weight, End-Use Industry, and Region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Basis Weight Outlook (Revenue, USD Billion; 2017-2027)
- Below 200 GSM
- 200-400 GSM
- Above 400 GSM
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End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
- Food and Beverages
- Consumer Goods
- Electrical and Electronics
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The study throws light on the Unidirectional (UD) Tapes market mainly focusing on the growth factors and even the restraining factors. The restraining factors are also provided with the best solutions which also prove to be a counteract to the drawback and help increase the market demand. Applications, types, technology and many other segmentations are studied to give a depth of knowledge for further market investment. Key driving forces for Unidirectional (UD) Tapes market is explained to help give an idea for a detailed analysis of this market.
Further key findings from the report suggest:
- Among the end-use industry segment, aerospace and defense are leading the market, and it will continue to dominate the market during the forecasted period owing to the need for technologically advanced and fuel-efficient aircraft.
- Among the resin type segment, presently, the thermoplastics unidirectional tape is leading the market with 58.5% of the global revenue, and it will continue to dominate with an estimated CAGR of 13.8% over the forecasted period.
- North America is presently leading the market, and it will continue to dominate owing to the presence of major aircraft OEMs and manufacturing units of the aerospace industry.
- Across the globe, companies are trying to decrease the effect of global warming and explore the potential of unidirectional tapes to decrease greenhouse gas emissions. The difficulty of recycling glass fiber is a stumbling block, primarily in the automotive and construction sectors, where the pressure to recycle is high.
- BMW has been extensively using unidirectional tapes for reinforcing the roof of its M-series cars. Moreover, these tapes are also being used in F-1 composite chassis of Ferrari’s hybrid car, and the CAMISMA projects lightweight seat design. With a rise in the demand for these products in lightweight, high-strength components in automotive applications, the tapes are expected to register a CAGR of 13.8% over the forecasted period.
The report emphasizes the following key questions:
Q.1. What are the most lucrative and promising growth prospects for the market?
Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?
Q.4. Which factors are impacting the future of the market and what are the driving factors?
Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
Conclusively, all aspects of the Unidirectional (UD) Tapes market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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