High Demand From Aerospace And Automotive Industries Drives Unidirectional Tapes Market To Grow At A CAGR Of 10.6% From 2022 to 2032 | Report by Future Market Insights, Inc.

Published Via 11Press : According to the latest FMI reports, the worldwide unidirectional tapes market is anticipated to witness a prolific compound annual growth rate (CAGR) of 10.6% from 2022 to 2032. The market is set to accrue a value of US$ 559.3 million in 2032, rising from US$ 203.5 million in 2022. Factors such as an accelerated demand from the aerospace and automotive sector will drive the growth of the unidirectional tapes market. It is estimated that the glass fiber segment within this market accounted for 66% of the overall market share and will continue to create significant opportunities for the market in the upcoming years. Further, East Asia will also continue to dominate the unidirectional tapes market, accounting for 36% of the market share in 2022. 

Historically, the market recorded a growth rate of 6.7% from 2015 to 2021. A robust future is predicted for the unidirectional tapes market from 2022 to 2032. This growth can be attributed to the rising demand for manufacturing lightweight vehicles. Unidirectional tapes are commonly used in the automotive and aerospace industries as standard materials, and they are composite materials based on carbon or glass fiber that are saturated with thermosetting resins. They possess excellent mechanical properties, chemical resistance, durability, and fire performance, and can be customized to suit specific requirements. Unidirectional tapes are widely used in various industries, including sports and leisure. 

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 The growth of the unidirectional tapes market is expected to be fueled by several factors, such as the increasing use of these tapes in primary and secondary aircraft structures, the demand for lightweight vehicles, government initiatives, the replacement of old aircraft, the modernization of existing aircraft, and the need for high-performance materials. The unidirectional tapes market is expected to avail of additional opportunities for growth in the coming years due to the increasing use of these tapes in new applications, the emergence of aircraft manufacturers in developing and developed countries, and the growing demand for passenger aircraft in developing nations. The growth of the unidirectional tapes market may face hindrances during the forecast period due to concerns about the recyclability of carbon fiber and the high costs associated with its processing and manufacturing.

Key Takeaways:

• By the end of 2032, Germany will account for 22% of the market share, driven by the advancing automotive sector in the country.
• The unidirectional tapes market in China will create an opportunity of US$ 58.0 million during the assessment period.
• Based on  resin, the thermoplastics segment will remain a popular choice owing to their aesthetics.
• By end-use, the the automotive and aerospace industries will generate the most demands for the unidirectional tapes market.

Competitive Landscape 

In competitive market, dominant players are concentrating on developing and increasing their product portfolios to encompass various industry-specific options. These organizations also employ strategic partnerships, mergers, and acquisitions to enhance their market footprints. In a recent development, in January 2022, Toray Group declares the development of inventive technology for the analysis of multi-material structures using injection molding materials and fiber reinforced unidirectional tapes. 

Teijin Ltd., SABIC, Toray Group, Evonk Industries, Cytec Solvay Group, Barrday Corporation, Avient Corporation, SGL Group, and Toho Tenax, among others, are a few of the significant players in the unidirectional tapes market profiled in the full version of the report.

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More Insights Into Unidirectional Tapes Market 

FMI delivers an unbiased and detailed analysis of the global unidirectional tapes market in its latest report along with historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. The report offers insight into a ten-year sales forecast, key market drivers, prevailing trends, opportunities, and challenges. To understand the global market potential, growth, and scope, the market is segmented on the basis of fiber, resin, end-use, and region.

According to the reports, based on segmentation, the automotive and aerospace sectors will create notable opportunities for the unidirectional tapes market. These sectors along with the defense industry will create an incremental opportunity of US$ 179.2 million by 2032. In terms of resin, the thermoplastics segment will dominate the international space due to a marked preference because of their aesthetics. Based on region, the unidirectional tapes market in Germany will exhibit impressive growth. Due to the presence of a strong automotive sector and extensive application of unidirectional tapes in the same industry, Germany is expected to register substantial growth of the unidirectional tapes market. Other countries like China and the US will also display notable growth in the market. In conclusion, extensive usage in the defense, aerospace, and automotive industries along with contributions from Germany and China will propel the global unidirectional tapes market forward.

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Unidirectional Tapes Market By Category

By fiber, unidirectional tapes market is segmented as:

• Glass
• Carbon

By resin, unidirectional tapes market is segmented as:

• Thermoplastic
• Thermoset

By end use, unidirectional tapes market is segmented as:

• Automotive
• Energy
• Aerospace & Defense
• Other Industries (Sports, Leisure, etc.)

By region, unidirectional tapes market is segmented as:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa (MEA)

Table of Content

1. Executive Summary 

    1.1. Global Market Outlook 

    1.2. Demand Side Trends 

    1.3. Supply Side Trends 

    1.4. Analysis and Recommendations 

2. Market Overview 

    2.1. Market Coverage / Taxonomy 

    2.2. Market Definition / Scope / Limitations 

3. Key Market Trends 

    3.1. Key Trends Impacting the Market 

    3.2. Resin Innovation / Development Trends 

4. Key Success Factors 

    4.1. Resin Adoption / Usage Analysis 

    4.2. Resin USPs / Features 

    4.3. Strategic Promotional Strategies

Have a Look at Related Reports of Packaging Domain

Corrosion Protection Tapes Market: The corrosion protection tapes hold prominent features like resistance against water, protection against UV rays, being easily applicable to welded joints and bend, and many more, which augment the sales of corrosion protection tapes. 

Thermoplastic Tape Market: The study conducted by FMI estimates that the thermoplastic tapes market will expand 1.4 times of base year value during the forecast period which is expected to generate lucrative investment opportunities for the manufacturers.

Filament Tapes Market: The growing preference for corrugated box packaging is expected to stimulate the sales of filament tapes in the near future.  

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