Dublin, November 11, 2021--(Business Wire)--"One-way tape market size, sharing and trend analysis report, by fiber (carbon, glass), resin type (thermoplastic, thermoset), end use ( Aerospace and defense, automotive) and market segment forecasts, 2021-2028" reports have been added to ResearchAndMarkets.com's products.
By 2028, the global unidirectional tape market is expected to reach 502.9 million U.S. dollars, with a compound annual growth rate of 16.9% during the forecast period.
The increasing emphasis by aerospace companies on the production of light aircraft is expected to drive demand for unidirectional (UD) tapes during the forecast period. The development of advanced sealing products, coupled with the increase in R&D investment in the production of advanced high-strength tapes, is expected to drive product demand during the forecast period.
In addition, the development of environmentally friendly solvent recovery technology for adhesive coatings is expected to drive product demand in the next few years. Aerospace and defense are the largest end-use market segments in 2020 and are likely to maintain their dominant positions during the forecast period. Thermoplastic and thermoset UD tapes are used in primary and secondary aircraft structures and high-load aircraft interior applications, including fuselages, wings, cargo liners, bulkheads/space dividers, and lavatory modules.
Due to the limited number of participants mainly concentrated in the UK and Germany, the market competition is moderate. The market is also highly influenced by various other players from countries such as the United States, Saudi Arabia, Japan, and the Netherlands.
Major players in this industry focus on R&D activities to launch ultra-lightweight components for bonding operations in the automotive and aerospace fields
Highlights of the unidirectional tape market report
In 2020, North America accounted for the largest revenue share of the global UD tape market exceeding 39%
Well-known automakers in the region are engaged in the production of lightweight vehicles, driving product demand
In 2020, the thermoplastic resin segment will lead the global market with a revenue share of 74.7%
Because these resins have excellent properties to enhance tape performance, it is expected to further expand at the fastest compound annual growth rate from 2021 to 2028.
From 2021 to 2028, the carbon fiber segment is expected to grow at the second fastest compound annual growth rate of more than 16%
This growth is attributed to their widespread use in the automotive and aerospace parts manufacturing business
In the United States, the demand for glass fiber products will account for a large share in 2020, which is due to the increase in the utilization rate of tape in the manufacturing industry
Medium market competition, limited number of multinational companies
Aerospace companies are paying more and more attention to the production of light aircraft
Growing demand for products in the automotive industry
Due to the high cost, the demand for products in the terminal industry is limited
Unidirectional tapes are increasingly used in various application industries
Business environment tool analysis: one-way tape market
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