PUBLISHER: 360iResearch | PRODUCT CODE: 1500570
PUBLISHER: 360iResearch | PRODUCT CODE: 1500570
[180 Pages Report] The Thermoplastic Tapes Market size was estimated at USD 2.65 billion in 2023 and expected to reach USD 2.86 billion in 2024, at a CAGR 8.43% to reach USD 4.68 billion by 2030.
Thermoplastic tapes are advanced composite materials that consist of continuous fibers, such as glass, carbon, or aramid, impregnated with a thermoplastic polymer matrix. These high-performance tapes combine the advantageous properties of both their fiber and polymer constituents to provide excellent mechanical strength, dimensional stability, chemical resistance, and processability. Ongoing research on new materials, additives, and processing techniques continues to enhance the performance characteristics of thermoplastic tapes, making them more suitable for diverse applications. In addition, thermoplastics are recyclable materials that can be easily processed through heating and melting without degrading their mechanical properties, increasing the demand for thermoplastic tapes. However, the price volatility of key raw materials such as petroleum-based monomers and limited knowledge about the benefits and potential applications of thermoplastic tapes among end-users is a restraining factor for market growth. Moreover, advanced manufacturing processes such as additive manufacturing and smart recycling technologies for waste minimization are expected to create lucrative opportunities for thermoplastic tapes.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 2.65 billion |
Estimated Year [2024] | USD 2.86 billion |
Forecast Year [2030] | USD 4.68 billion |
CAGR (%) | 8.43% |
Regional Insights
Thermoplastic tapes are garnering considerable attention in various industries worldwide due to their high-performance properties, such as strength-to-weight ratio and recyclability. In the Americas region, including the United States and Canada, there has been an increasing surge for lightweight materials in the aerospace & automotive sectors to enhance fuel efficiency and lower emissions. This has led to innovations focused on improving material properties such as heat resistance and developing new applications for thermoplastic composite tapes in structural components of vehicles. Major economies in the EU region have experienced a growing interest in advanced manufacturing technologies utilizing thermoplastic tapes for environmentally friendly initiatives. Further, European companies are heavily investing in R&D activities to create sustainable products that can replace conventional metal-based materials. Major economies in the Asia Pacific showcase significant market potential for thermoplastic tapes driven by their push towards sustainable development goals through new technologies adoption within industries like automotive and consumer electronics.
Market Insights
The market dynamics represent an ever-changing landscape of the Thermoplastic Tapes Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Thermoplastic Tapes Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Thermoplastic Tapes Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
HySPIDE TP Breaks New Ground In Thermoplastic Tape Winding!
Cetim, the Technical Centre of Mechanical Industry, has recently acquired a state-of-the-art machine that enables the cost-effective production of hydrogen tanks using thermoplastic composites. This cutting-edge robotized cell is specifically designed for manufacturing thermoplastic parts in real-time, eliminating the need for additional process steps. Introducing a new head developed by the renowned German company AFPT has significantly enhanced the tape laying speed by 10 times compared to SPIDE TP. [Published On: 2023-02-06]
Bemis Associates Inc. Acquires France-Based Company, Protechnic
Bemis Associates, a manufacturer of thermoplastic tapes, has acquired Protechnic, a manufacturing company based in France. This strategic move allows Bemis to expand its global product offerings and introduce Protechnic's innovative solutions to international markets, including apparel, industrial, and consumer electronics. As a wholly owned subsidiary of Bemis, Protechnic continues to operate under its own name, brand, and leadership structure. [Published On: 2022-05-12]
Composites Evolution Launches new Evopreg Thermoplastic Tapes
Composites Evolution introduced a new range of unidirectional thermoplastic tapes to complement their existing Evopreg prepregs. These versatile tapes have applications in flexible pipes and as local reinforcements for pre-formed components. They offer lightweight solutions in various sectors, including battery electric vehicles, hydrogen fuel cell vehicles, eVTOL passenger aircraft, and drones. [Published On: 2022-01-20]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Thermoplastic Tapes Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Thermoplastic Tapes Market, highlighting leading vendors and their innovative profiles. These include Arkema Group, Ashland Inc., Avient Corporation, Berry Global Inc., CompTape B.V, Covestro AG BY Stratasys, Essentra plc., Evonik Industries AG, FLEXcon Company Inc., H.B. Fuller Company, Intertape Polymer Group Inc. BY Clearlake Capital, Koninklijke DSM N.V., Lamart Corp., Maru Hachi Corporation, Merck KGaA, Mitsui Chemicals, Inc., PPM Industries SpA., Saudi Basic Industries Corporation, SGL Carbon BY Resistotech Industries, Solvay S.A., Suprem SA, TEIJIN LIMITED, tesa Tapes (India) Private Limited, Toray Advanced Composites, and Von Roll Holding AG.
Market Segmentation & Coverage