Carbon Fiber Tape Market Top 10 Companies Profiled and Forecast 2020–2027, Fortune Business Insights™
The global carbon fiber tapes market size
is expected to reach USD 4,855.6 million by 2027, exhibiting a CAGR of 13.4%
during the forecast period. The growing utilization of carbon fiber in various
industries due to its high tensile strength and electrical conductivity will
spur opportunities for the market, states Fortune Business Insights, in a
report, titled “Carbon Fiber Tapes Market Size, Share & Industry Analysis,
By Form (Dry Tapes, and Prepreg Tapes), By Resin (Epoxy, Polyamide,
Bismaleimide, Thermoplastic, and Others), By End-use (Aerospace & Defense,
Automotive, Sports/Leisure, Building & Construction, and Others), and
Regional Forecast, 2020-2027.” The market size stood at USD 1,918.6 million in
2019.
The coronavirus outbreak has
affectednumerous industries across the globe. The governments of several
countries have instigated lockdown to thwart the spread of this deadly virus.
Such plans have caused disturbances in the production and supply chain. But,
with time and resolution, we will be able to combat this stern time and get
back to normality. Our well-revised reports will help companies to receive
in-depth information about the present scenario of every market so that you can
adopt the necessary strategies accordingly.
The Report Lists the Key Companies in
the global market:
·
Hexcel Corporation
(U.S.)
·
SABIC (Saudi
Arabia)
·
TEIJIN LIMITED
(Japan)
·
SGL Carbon
(Germany)
·
Royal DSM
(Netherlands)
·
Evonik (Germany)
·
Solvay (Belgium)
·
TORAY INDUSTRIES, INC.
(Japan)
·
Celanese
Corporation (U.S.)
·
Victrex plc. (UK)
·
Cristex (UK)
·
Eurocarbon
(Netherlands)
·
Other Key Players
The
report on carbon fiber tapesmarket encompasses:
·
Thoroughstudy
of all the segments
·
Present
and Future projections
·
Latest
market trends
·
Notable
industry development
·
Competitive
Landscape
·
COVID-19
Impact
Market Driver:
Heavy Demand for Carbon Fiber from Automotive
Industry to Facilitate Growth
The growing use of carbon fiber (CF) in structural and semi-structural
components of vehicles during automobile production will foster the healthy
growth of the market. The increasing adoption ofcarbon fiber in automobile
manufacturing will have a tremendous impact on the market. For instance, the
BMW i3is produced using carbon-fiber-reinforced plastic. The ongoing research
and development for efficient component production with carbon fiber will spur
opportunities for the market. The cognizance about renewable carbon fiber and
composites will escalate its adoption in the automotive industry. For instance,
the lightweight property of carbon fiber leads to energy reductions and fuel
savings. Besides, the increasing application of CF in hybrid vehicles will spur
business opportunities for the global market.
Devastating
Impact on Aviation Industry to Thwart Market During COVID-19
The aviation
industry has witnessed a disturbing effect because of the coronavirus. The
restriction in import and export activities has resulted in huge losses for the
industry. The sudden drop in revenue and minimal production will limit carbon
fiber supply across countries. However, the implementation of damage control
strategies by major companies will help to curb the effects of coronavirus in
the coming days.
Regional
Analysis:
Flourishing
Aerospace industry to Bolster Growth in North America
The market
size in North America stood at USD 690.7 million in 2019 and is expected to
grow rapidly during the forecast period owing to the presence of major players
in the region. The booming aerospace & defense industry is expected to spur
opportunities for the market in the region. The growing demand for carbon fiber
in various end-use industries will further aid the expansion
of the market in the region. Europe is expected to experiencea rapid growth
rate during the forecast period owing to the well-established automotive
industry. The growing shift from conventional metal parts to lower weight and
high strength carbon fiber materials will create opportunities for the market
in Europe.
Significant Development:
August 26, 2020: True
Temper Sports, a leading manufacturer of golf shafts announced to sign a
partnership agreement with Hexcel on its latest product line, the HZRDUS Smoke
Black RDX. The HZRDUS Smoke Black RDX is the first golf shaft to use Hexcel’s
new HexTow® HM54 carbon fiber, which is ideal for
recreational applications.
https://www.fortunebusinessinsights.com/carbon-fiber-tapes-market-104055
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