According to a market research report, the Thermoplastic Tapes Market by Fiber Type (Glass, Carbon), Resin Type (PAEK, PA, PPS, PP), Application (Aerospace & Defense, Automotive & Transportation, Oil & Gas, Sporting Goods, Medical & Healthcare), and Region – Global Forecasts to 2028″, is estimated at 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.
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168 Market data Tables
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Thermoplastic tape is a composite comprising properties of fibers and plastics (resins). These tapes are impregnated with various thermoplastic resins, including PAEK, PPS, PC, PA, PET, TPU, and others. Thermoplastic tapes are used in various industries, including aerospace & defense, automotive & transportation, oil & gas, medical & healthcare, construction, and sports equipment manufacturing. The increasing demand for thermoplastic tapes in these industries are projected to fuel market development in the upcoming years.
This report also provides a comprehensive analysis of the companies listed below:
Major manufacturers in thermoplastic tapes market are based in North America and Europe. Toray Industries, Inc. (Japan), Teijin Limited (Japan), SGL Carbon (Germany), Hexcel Corporation (US), Solvay(Belgium), Evonik Industries AG(Germany), BASF SE (Germany) are among a few leading players operating in the thermoplastic tapes market. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the thermoplastic tapeas market further.
Recent Developments in Thermoplastic Tapes Market Industry
In October 2022, Mitsui Chemicals, Inc. collaborated with JUNICHIRO YOKOTA STUDIO to exhibit its CFRTP TAFNEX at DESIGNART TOKYO 2022 event.
In July 2022, Hexcel Corporation joined Spirit Aero Systems to develop sustainable aircraft technologies for manufacturing future aircrafts. Hexcel’s HiTape will be optimized for fully automated lay-up.
In January 2022, Toray Industries developed a new analysis technology for multi-material structures comprising UD continuous fiber-reinforced tapes and injection molding materials. This breakthrough makes it possible to predict the properties of parts made up of multiple materials and develop high-performance components.
In November 2021, Solvay developed carbon fiber-reinforced polyetheretherketone (CF/PEEK), CF-reinforced bio-based high-performance polyamides, and CF-reinforced polyphenylene sulfide (CF/PPS) composite materials. The partnership significantly expanded the types of neat and carbon fiber-reinforced materials portfolio that 9T Labs currently offers.
In May 2021, Teijin Carbon Europe introduced a new carbon fiber thermoplastic unidirectional pre-impregnated tape (TPUD) based on PPS. The new Tenax TPUD with PPS matrix allows entry into new cost-sensitive markets while offering the typical TPUD advantages such as high resistance to chemicals and solvents, low flammability, storage or shipping at room temperatures, and recyclability.
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Toray Industries Inc. (Japan) – Toray Industries, Inc.(Japan) is a multinational corporation headquartered in Tokyo, Japan. It operates in various industries, including aerospace & defense, automotive & transportation, healthcare, energy, sports equipments, and consumer products. Toray Industries is known for its innovative products and solutions across different sectors.
Toray Industries offers thermoplastic composite tapes through its subsidiary, Toray Advanced Composites. Carbon fiber material composite segment. . It has manufacturing and research facilities in North America, Latin America, Europe, Africa, Asia, and other regions.
Teijin Limited (Japan) – Teijin Limited offers advanced solutions for automotive & transportation, aerospace & defense, healthcare, electronics, energy and industrial. The company provides thermoplastic tapes through its subsdidiary, Toho Tenax. Teijin operates through the materials business field, healthcare, fiber & products converting, IT business, and other segments. The company has a geographical presence in Europe, North America, and Asia Pacific.
Solvay (Belgium) – Solvay is one of the leading players in the plastics and chemical business worldwide. It provides carbon fiber tape products through its subsidiary, Cytec Industries Inc. It primarily develops, manufactures, and sells products for the agro feed & food, automotive & aerospace, building & construction, customer goods & healthcare, electrical & electronics, energy & environment, and industrial applications. The company manages its operations through Materials, Chemicals, Solutions, and Corporate & Business services. It offers UD tapes under the brand Evolite. It has a wide global presence in North America, Europe, Latin America, and Asia Pacific.
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