Carbon Fiber Tape Market Research Report , Business Share, leading segments, Regional, Development, Price, Size, Outlook, , Global Forecast by 2027
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.
https://www.fortunebusinessinsights.com/carbon-fiber-tapes-market-104055
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.
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