The UD tapes market is projected to grow from USD 194 million in 2021 to USD 332 million by 2026, at a CAGR of 11.4%, between 2021 and 2026. UD tapes are manufactured by unidirectional fiber impregnated with thermoset or thermoplastic resins. These tapes can be customized according to the specific end-use application. The demand for UD tapes is increasing in the aerospace & defense, automotive, and sports & leisure industries. The UD tapes market in the aerospace & defense industry is entirely dependent on the development of new aircraft and maintenance, repair, and operations (MRO).
UD tapes market Based on resin, the thermoplastic segment is estimated to account for the largest share during the forecast period. Thermoplastic resins used in UD tapes such as PEEK, PA6, and PA66, exhibit superior impact toughness, good fire, smoke and toxicity (FST) performance, and chemical resistance. PEEK is the most widely used thermoplastic resin in UD tapes as it offers high strength, good impact resistance, and flame retardance, among other properties. PEEK-based UD tapes are used in aircraft interiors, aircraft brackets, and flooring, among other applications.
Based on fiber, glass fiber is estimated to account for the largest share during the forecast period. Glass fibers are easy to process and less expensive but have very low tensile strength and performance as compared to carbon fiber. Glass fiber-based UD tapes are preferable over carbon fiber as they provide a quick and affordable way to build parts & molds and make repairs. They are also easy to handle and conforms to complex shapes and withstands tough environmental conditions. Glass fiber-based UD tapes are used in a number of industries such as automotive, industrial engineering, and high-performance sports equipment.
Based on end-use industry, aerospace & defense is estimated to account for the largest share during the forecast period. Aerospace & defense industry is the chief consumer of the UD tapes. UD tapes possess unique properties such as higher structural strength-to-weight ratio than many structural materials, excellent corrosion- and wear- resistance, high adhesion, and high modulus strength. These properties are driving the usage of UD tapes in these end-use industries.
The North America UD tapes market is projected to register the highest CAGR during the forecast period. North America is an important market for UD tapes. The US has been the driving force behind the rapid development of the market in North America as well as worldwide. The North American market is driven by the high economic growth rates and heavy investments across various industries such as aerospace & defense, automotive, and sports & leisure.
Moreover, the markets in APAC, Eastern Europe, the Middle East & Africa, and South America are in the growth phase, where manufacturers compete with similar offerings. The markets in these regions have huge potential in comparison to those in the other regions. The growth in the developing countries and increasing demand for sustainable products are expected to support the market, globally. Major players such as Evonik Industries (Germany), SABIC (Saudi Arabia), Toray Industries, Inc. (Japan), Hexcel Corporation (US), SGL Group (Germany), and Teijin Ltd. (Japan), among others, have framed their strategies to penetrate and create bases in these emerging markets.
Moreover, major companies are focusing on strengthening their R&D facilities to provide efficient and sustainable products. These products are manufactured adhering to regulations implemented by associations and governments. All such developments are expected to lead to the sustainable development of players in the UD tapes market over the next five years.
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