Thermoplastic Tapes Market

Thermoplastic Tape Market

The global thermoplastic tape market is valued at USD 2.7 billion in 2023 and is projected to reach USD 4.4 billion by 2028, growing at a cagr 10.5% from 2023 to 2028. The market growth is driven by the aerospace & defense industry’s demand for weight reduction and increased fuel efficiency.

Thermoplastic tapes are made of multiple fibers bound together with a thermoplastic resin for optimal performance. They offer high strength, stiffness, abrasion resistance, and chemical resistance. The aerospace & defense, automotive & transportation, and sporting goods industries rely on these tapes for localized reinforcements, repairs, and seam taping.

In the aerospace & defense industry, thermoplastic tapes are used in both primary and secondary structures, mainly in fuselage skin, access panels, wing spars, wing skins, rib stiffeners, brackets, flooring and conduits. And in sporting goods, thermoplastic tapes are used in tennis rackets, skis/kiteboards, golf shafts, and bicycle frames.

Attractive Opportunities in Thermoplastic Tapes Market Trends

To know about the assumptions considered for the study, Request for Free Sample Report

Thermoplastic Tapes Market Dynamics

Driver: Increasing demand for fuel-efficient vehicle

Vehicle weight plays a significant role in reducing fuel consumption in vehicles (Source: US Department of Energy). The weight reduction of a vehicle by 10% can result in enhanced fuel economy by 6–8%. Thermoplastic tape offers high strength, flexibility, and lightweight, making it suitable to replace traditional metal tapes in vehicle manufacturing. For instance, vehicle panels made with Sabic’s UDMAX tape offer good strength and impact resistance with lightweight features, which can result in a mass reduction of vehicle interior panels of up to 35% in comparison to metal parts. In the case of exterior panels, the composite material can help reduce mass by up to 50%.

Restraint: High manufacturing costs

Thermoplastic tapes reinforced with advanced fibers, such as carbon or aramid, can be relatively more expensive than traditional materials, such as thermoset tapes. High-performance thermoplastic resins and advanced fiber reinforcements used in thermoplastic tapes can be costly. Tape placement, consolidation, and welding require precise temperature, pressure, and cooling rates, making the product costlier. The production volume of thermoplastic tapes is lower than traditional materials, resulting in higher per-unit costs. However, this cost barrier can limit their widespread adoption, particularly in industries with stringent cost constraints.

Opportunity: Reduced carbon fiber cost

Carbon fiber thermoplastics are made through an energy-intensive process. According to MAI Carbon Cluster Management GmbH, a partner of BMW and Audi, the production costs of carbon fibers could be reduced. This project is backed by the German Federal Government and more than 70 business and research institutions and will have a huge impact on the automotive industry, which faces stringent environmental regulations in Europe and the US. Hence, developing low-cost and high-yield precursors for making commercial-grade carbon fibers would provide significant opportunities for the market players to expand their market share. The reduced carbon fiber cost will eventually decrease the cost of carbon fiber thermoplastic tapes.

Challenge: Limited use of carbon fiber tapes in high-temperature applications and challenges in the development of low-cost technologies.

Aircraft parts that are installed in high-temperature zones between 200 ºC and 400 ºC are metallic. Alloys based on aluminum, titanium, and steel are only used in these zones. The use of carbon fiber thermoplastic tapes is not possible due to the limited operating temperatures of conventional thermosets below 400 ºC.

Further, the high cost of the thermoplastic tapes manufacturing process is another major challenge. The high cost of thermoplastic tapes is associated with their penetration into structural applications of various industries. The real potential of thermoplastic tapes has not yet been realized due to the R&D cost incurred during design errors, high manufacturing costs, and increased cycle times. Many new applications of these tapes have been discovered,  but due to high-cost constraints, the commercialization of these applications is yet to begin. High R&D costs may pose a challenge to developing low-cost technologies for all researchers and key manufacturers.

Thermoplastic Tapes Market Ecosystem

Based on the fiber type, the carbon fiber segment is estimated to account for the largest market share during the forecast period

Carbon fiber thermoplastic tapes dominated the overall thermoplastic tapes market in 2022. The growth of the carbon fiber thermoplastic tapes market is mainly driven by the resins used in carbon fiber thermoplastic tapes as they enhance the physical and mechanical properties of these tapes. Increase fuel efficiency and low weight have been the foremost drivers for the use of carbon fiber-based composites in the aerospace industry. The greater strength-to-weight capability and excellent fatigue resistance of carbo fiber-based thermoplastic tapes allow for more structurally efficient and aerodynamic aircraft designs.

Based on resin type, the PP segment is anticipated to register a significant CAGR during the forecast period

Polypropylene (PP) exhibits chemical resistance, fatigue resistance, transmissivity, and toughness. PP resin-based thermoplastic composites provide a competitive advantage over PA-based thermoplastic composites due to their lower price, superior physical properties, and lesser specific gravity. PP can be reinforced with glass, carbon, and other fibers. Long carbon-fiber-reinforced polypropylene offers superior strength and increased stiffness, making PP resin-based thermoplastic tapes useful in the automotive application. The need to reduce weight to enhance fuel economy majorly drives high consumption of PP resin-based thermoplastic composites.

Based on end-use industry, aerospace & defense segment holds the highest market share in 2022, both in terms of value and volume

The aerospace & defense segment dominates the thermoplastic tapes market due to the increasing demand for lightweight aircraft from Boeing and Airbus, mainly due to the superior properties of thermoplastic tapes, which help reduce the overall weight of airplanes and provide corrosion resistance and high strength and abrasion. Thermoplastic tapes are extensively used for repairing aircraft wings and for building part thickness in aircraft. The entry of new aircraft manufacturers, such as Comac (China) and United Aircraft Corporation (Russia), is expected to boost the demand for thermoplastic tapes during the forecast period.

Europe to register the highest growth during the forecast period

Europe was the largest market for the thermoplastic tapes market by value in 2022. The growth of end-use industries such as aerospace & defense, automotive & transportation, oil & gas, sporting goods, and medical and healthcare is driving the thermoplastic tapes market in the region. The region has a presence of several carbon fiber fiber-reinforced thermoplastic tapes manufacturers, such as SGL carbon and Evonik Industries AG, which are engaged in the production of high quality thermoplastic tapes, drives the thermoplastic tapes market in the region. For example, SGL Carbon, a European company provides carbon fiber fiber-reinforced thermoplastic tapes under the brand name, SIGRAFIL.

To know about the assumptions considered for the study, download the pdf brochure

Thermoplastic Tape Market Players

The thermoplastic tapes market is dominated by a few globally established players such as Toray Industries, Inc. (Japan), SABIC (Saudi Arabia), Mitsui Chemicals, Inc. (Japan), Evonik Industries AG (Germany), Hexcel Corporation (US), Teijin Limited (Japan), Arkema (Netherlands), and Solvay (Belgium), BASF SE (US), and SGL Carbon (Germany), among others, are the key manufacturers that secured major contracts in the last few years. Major focus was given to the contracts and new product development due to the changing requirements across the world.

These companies are pursuing a variety of inorganic and organic strategies in order to gain a foothold in the thermoplastic tapes market. The research includes a detailed competitive analysis of these key players in the thermoplastic tapes market, including company profiles, recent developments, and key market strategies.

Thermoplastic Tape Market Report Scope

The study categorizes the thermoplastic tapes market based on fiber type, resin type, end-use industry, and Region.

By Fiber Type:

• Carbon Fiber
• Glass Fiber
• Others (Aramid, Natural)

By Resin Type:

• PAEK
• PPS
• PA
• PP
• Others (PC, PET, TPU, PPA, PVDF, and PE)

By End-use Industry:

• Aerospace & Defense
• Automotive & Transportation
• Oil & Gas
• Sporting Goods
• Medical & Healthcare
• Other (Construction & Infrastructure, Energy, Pipes & Tanks)

By Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa

Recent Developments

• 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.

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst