The thermoplastic tapes composites market is projected to grow USD 2.7 billion in 2023 and is projected to reach USD 4.4 billion by 2028, at a CAGR of 10.5% from 2023 to 2028. During the forecast period, the global thermoplastic tapes market is expected to grow in the coming years, driven by the superior properties of thermoplastic tapes such as lightweight, excellent mechanical properties, corrosion and chemical resistance, high strength and more. The market is also expected to benefit from technological advancements in ceramic matrix composite manufacturing processes, making the material stronger, lighter, and more durable.
Based on fiber type, carbon fibers are commonly used as reinforcement in thermoplastic tapes. Carbon fiber thermoplastic tapes are composite material that combines carbon fiber with thermoplastic. Carbon fiber-based thermoplastic tape offers various advantages, such as excellent strength-to-weight ratio, high stiffness, high toughness, corrosion resistance, and fatigue resistance. Carbon fibers are used in aerospace & defense, sporting goods, and automotive parts such as vehicle (motorcycle) rims and integral structural components. They reduce part weight by 40–50% over their conventional aluminum counterparts. It enables the production of lightweight bikes without decreasing their strength, reduces fatigue, and lowers the moment of inertia.
Based on fiber type, carbon fibers are commonly used as reinforcement in thermoplastic tapes. Carbon fiber thermoplastic tapes are composite material that combines carbon fiber with thermoplastic. Carbon fiber-based thermoplastic tape offers various advantages, such as excellent strength-to-weight ratio, high stiffness, high toughness, corrosion resistance, and fatigue resistance. Carbon fibers are used in aerospace & defense, sporting goods, and automotive parts such as vehicle (motorcycle) rims and integral structural components. They reduce part weight by 40–50% over their conventional aluminum counterparts. It enables the production of lightweight bikes without decreasing their strength, reduces fatigue, and lowers the moment of inertia.
Based on resin type, the PAEK segment is expected to have the largest share of the thermoplastic tapes market in 2022 by value and volume. PAEK (Polyaryletherketone) based thermoplastic tapes are composite materials made from continuous fibers impregnated with a PAEK thermoplastic matrix. PAEK polymers, offer high-performance properties such as higher temperature resistance, it can withstand continuous use at elevated temperatures (up to 482°F) without significant degradation, which makes it suitable for applications that require excellent thermal stability and performance at elevated temperatures. For example, aerospace structural components, automotive components, oil and gas applications and more.
Based on end-use industry, the automotive & transportation industry segment is expected to have the second-highest share in thermoplastic tapes market in 2022. Vehicle weight plays a significant role in reducing a vehicles fuel consumption. The reduction in weight of a vehicle by 10% can result in improvement of fuel economy by 6% to 8%. For instance, In automotive, UDMAX GPP 45-70 tape help OEMs and designers reduce part weight to reduce fuel consumption and emissions to comply with current and upcoming regulatory requirements.
Thermoplastic tape offers features like light weight, high strength, flexibility and more, which makes it suitable to replace traditional metal tapes in vehicles manufacturing. In the automotive industry, thermoplastic tapes are mainly used in cosmetic components and some structural parts such as roof, door module, rear tray, bumper stiffener, dashboard, seat structure, and battery casing.
Based on Region, Asia Pacific region registered a significant CAGR during the forecast period. The thermoplastic tapes market in Asia Pacific is experiencing rapid growth due to the rising demand for it in various industries, including aerospace & defense, automotive & transportation, oil & gas, sporting goods, and medical & healthcare. This is primarily due to the significant industrial growth in countries like Japan, China, South Korea, and Taiwan. China leads in terms of volume and value growth, particularly in the automotive & transportation sector. As a result, the use of thermoplastic tapes in this sector is expected to increase even further, with applications in body panels, dashboards, door modules, and other areas.
Based on resin type, the PAEK segment is expected to have the largest share of the thermoplastic tapes market in 2022 by value and volume. PAEK (Polyaryletherketone) based thermoplastic tapes are composite materials made from continuous fibers impregnated with a PAEK thermoplastic matrix. PAEK polymers, offer high-performance properties such as higher temperature resistance, it can withstand continuous use at elevated temperatures (up to 482°F) without significant degradation, which makes it suitable for applications that require excellent thermal stability and performance at elevated temperatures. For example, aerospace structural components, automotive components, oil and gas applications and more.
Based on end-use industry, the automotive & transportation industry segment is expected to have the second-highest share in thermoplastic tapes market in 2022. Vehicle weight plays a significant role in reducing a vehicles fuel consumption. The reduction in weight of a vehicle by 10% can result in improvement of fuel economy by 6% to 8%. For instance, In automotive, UDMAX GPP 45-70 tape help OEMs and designers reduce part weight to reduce fuel consumption and emissions to comply with current and upcoming regulatory requirements.
Thermoplastic tape offers features like light weight, high strength, flexibility and more, which makes it suitable to replace traditional metal tapes in vehicles manufacturing. In the automotive industry, thermoplastic tapes are mainly used in cosmetic components and some structural parts such as roof, door module, rear tray, bumper stiffener, dashboard, seat structure, and battery casing.
Based on Region, Asia Pacific region registered a significant CAGR during the forecast period. The thermoplastic tapes market in Asia Pacific is experiencing rapid growth due to the rising demand for it in various industries, including aerospace & defense, automotive & transportation, oil & gas, sporting goods, and medical & healthcare. This is primarily due to the significant industrial growth in countries like Japan, China, South Korea, and Taiwan. China leads in terms of volume and value growth, particularly in the automotive & transportation sector. As a result, the use of thermoplastic tapes in this sector is expected to increase even further, with applications in body panels, dashboards, door modules, and other areas
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