The global carbon fiber tape market size is estimated to grow from USD 1.5 billion in 2020 to USD 2.6 billion by 2025 at a compound annual growth rate (CAGR) of 12.0% during the forecast period. Carbon fiber tape is increasingly used in the aerospace end-use industry because its strength-to-weight ratio is higher than that of steel and aluminum. Carbon fiber tape is used on a large scale in the aerospace industry in the form of prepreg tape. Carbon fiber prepreg tape has higher strength-to-weight capability than other traditional aerospace materials, and hence, facilitates more efficient designs, structurally and aerodynamically. In addition, high strength, high stiffness, and high abrasion resistance are achieved with carbon fiber tape in the aircraft. It is used in both primary and secondary structures in aircraft. It is mainly used in applications, such as wing spars, wing skins, fuselage skin, access panels, rib stiffeners, brackets, conduits, and flooring. These factors are expected to drive the carbon fiber tape market during the forecast period.

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In 2020, the novel coronavirus pandemic has affected the global aerospace industry, affecting the global supply chains, which move materials and components rapidly across borders and fabrication facilities. This has resulted in delays or non-arrival of raw materials, disrupted financial flows, and growing absenteeism among production line workers. These factors have affected the world’s biggest commercial aircraft providers, Boeing and Airbus, and their constellation of suppliers. Boeing did not have any orders in January 2020. Airbus also had zero orders in February 2020. This has directly affected the carbon fiber tape market.

Carbon fiber tape is segmented based on forms, namely, prepreg tape and dry tape. Prepreg tapes are mainly used in aerospace and sporting goods industries for manufacturing wing spars, fuselage skins, bicycle frames, golf shafts, and others. They are also used in wind energy, automotive, and pipe & tank industries for turbine blades, cosmetic components, prosthetics, and other applications.

Carbon fiber tape is mainly used in end-use industries, such as aerospace & defense, pipe & tank, sporting foods, marine, and construction & infrastructure. The aerospace & defense end-use industry is the largest consumer of carbon fiber tape.

The hot melt manufacturing process dominates the carbon fiber prepreg tape market. The global carbon fiber prepreg tape market is categorized into two segments based on the manufacturing process, namely, hot melt and solvent dip. In the hot melt process, heat and pressure are used to impregnate fibers with resin. It is also an environment-friendly process due to the use of water-based and solvent-free adhesives. In the hot melt process, resins with a very low percentage of solvents are used for the manufacturing of carbon fiber prepreg tapes.

Various types of resins, such as epoxy, thermoplastic, bismaleimide, and polyamide are used in manufacturing carbon fiber prepreg tape. Epoxy is the leading resins used in carbon fiber prepreg tapes. This is due to its high demand in the aerospace & defense end-use industry, especially in emerging economies, such as China, France, and the US, because of its good mechanical properties.

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Toray Industries, Inc. (Japan), Mitsubishi Chemical Holdings (Japan), Evonik Industries (Germany), Zoltek (US), Hexcel Corporation (US), Teijin Limited (Japan), SGL Group (Germany), SABIC (Saudi Arabia), Royal DSM (Netherlands), and Solvay (Belgium) are the key players in the carbon fiber tape market. The top players in the carbon fiber tape market have implemented various strategies to sustain in the market. For instance, in April 2018, Solvay launched Evolite F1050, a high-performance PVDF carbon fiber composite tape for demanding oil & gas applications.

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