Fiber Reinforced Composite Tapes Market Innovative Trends Implemented by Manufacturers Steering Growth until 2028

Posted on 2019-05-31 by Mark Hub in Chemicals // 0 Comments

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Fiber reinforced composite tapes are used as standard materials in aerospace and automotive industries. The fiber is usually infused with thermosetting resins. These fiber-reinforced composite tapers are the materials that are generally based on carbon fiber of glass fiber. Furthermore, tapes manufacturing process includes various thermoplastic resins, which can be customized with respect to the application. Besides, size of appropriate fibers such as carbon and glass cater to optimal bonding with the plastics.

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The global fiber reinforced composite tape market is primarily driven by composites market owing to the increasing demand for high strength tapes in the manufacturing of lightweight components. Automotive industry is anticipated to fuel up the Fiber Reinforced Composite Tapes Market during the forecast period. Also, rising stringent regulations for improving fuel efficiency will indirectly boost the fiber reinforced composite tapes demand for light weight components. Rapidly growing automotive industry and expanding aerospace industries across the world is projected to propel fiber reinforced composite tapes market. Availability of various internal and external substitutes acts as hindrance to the fiber reinforced composite tapes market.

Global fiber reinforced composite tapes Market: Segmentation

The global market for fiber reinforced composite tapes market can be segmented by fiber type, by resin type, by end-use industry and by region. On the basis of fiber type, the global fiber reinforced composite tapes market is segmented by glass fiber and carbon fiber. On the basis of resin type, the global fiber reinforced composite tapes market is segmented by aerospace & defense, automotive, and sports & leisure. With the rapid growth in the automotive sector has a significant effect on the fiber reinforced composite tapes, owing to the increasing production of light weight vehicles. On the other hand, rising demand for durable sports goods is also anticipated to increase the demand for fiber reinforced composite tapes across the industries.

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The global fiber reinforced composite tapes market can be segmented with respect to the regions as: North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA (Middle East and Africa). North America is expected to have a significant market for fiber reinforced composite tapes owing to the rising demand for lightweight materials for various end-use industry. After North America, East Asia is the second largest market for fiber reinforced composite tapes owing to the increasing manufacturing industries and tapes consumptions. Also, South Asia is expected to cater untapped opportunities in coming years with rapid urbanization and industrializations. Latin America market for fiber reinforced composite tapes is also growing at a considerable rate due to rapid economic growth, which results in the large industrial applications owing to the demand for lightweight standard materials in these regions over the past couple of years.

Global fiber reinforced composite tapes market: Key Players

Prominent players in the global fiber reinforced composite tapes market are Performance Composites Inc., Royal TenCate N.V., Hexcel Corporation, SGL Group, Composites Evolution Ltd., SABIC, Evonik and BASF SE., among other players. The global players are expected to strengthen their market positions by offering loyalty schemes and competitive prices. Several small-sized players also have a presence in the fiber reinforced composite tapes market globally.

Global fiber reinforced composite tapes market: Competitive Landscape

The global market for fiber reinforced composite tapes is fragmented in nature owing to the presence of a large number of players in the market. The global fiber reinforced composite tapes market has lucrative opportunities for new entrants, which will cater to competitiveness in the product offerings and also leads to the reduction in prices of the products.

The research report presents a comprehensive assessment of the fiber reinforced composite tapes market and contains thoughtful insights, facts and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The fiber reinforced composite tapes market report provides analysis and information, according to market segments, such as geographies, application and industry.

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