The Global Unidirectional Tapes Market is forecast to grow at a CAGR of 13.6% from USD 189.6 million in 2019 to USD 499.0 million in 2027.

New York, NY -- (SBWire) -- 12/23/2020 --Unidirectional (UD) Tapes Market

The Global Unidirectional Tapes Market is forecast to grow at a CAGR of 13.6% from USD 189.6 million in 2019 to USD 499.0 million in 2027. These are extensively used as standard materials in the aerospace and automotive sectors. The fibre is impregnated with thermosetting resins. These tapes are produced using several thermoplastic resins, and they are customized according to the required application. Appropriate sizing of the glass or carbon fibre provides optimal bonding to the plastic. Therefore, they possess excellent mechanical properties.

Market Drivers

A major part of the market for composites is unidirectional tapes. Growth over the forecast period is expected to be powered by growing demand for these tapes for lightweight, high-strength components in automotive applications. It is also predicted that rising government pressure on improving fuel efficiency would boost demand for high-strength and lightweight components. However, it is anticipated that the existence of numerous external and internal alternatives may restrain market development.

COVID-19 Impact on the Unidirectional (UD) Tapes Business Landscape

The latest research report draws readers' focus on the grave impact of the COVID-19 pandemic on the global Unidirectional (UD) Tapes market and its key segments and sub-segments. The coronavirus outbreak has had an unprecedented impact on the global economic landscape. The report considers the COVID-19 pandemic as one of the leading contributors to the potential downturn of this business vertical. The global Unidirectional (UD) Tapes market has been adversely impacted by the pandemic, which has brought about several disruptive changes to the market dynamics and demand trends. Therefore, the pandemic has led to acute financial crises all across the industry, slowing down the progress of the businesses involved in this sector. However, the report offers an analysis of the overall impact of the pandemic on the Unidirectional (UD) Tapes market's growth.

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Global Unidirectional (UD) Tapes Market Segmentation:

The latest report enumerates the leading products manufactured in this industry, their application areas, as well as end-use industries.

Leading companies profiled in the report:

Evonik Industries, SABIC, Solvay, Hexcel Corporation, Royal Tencate, SGL Group, Teijin Limited, Celanese Corporation, BASF, and Victrex, among others

Resin Type Outlook (Revenue, USD Million; 2017-2027)

·         Thermoplastic UD tapes

·         Thermoset UD tapes

Fiber Outlook (Revenue, USD Million; 2017-2027)

·         Glass Fiber

·         Carbon Fiber

End-User Outlook (Revenue, USD Million; 2017-2027)

·         Aerospace & Defense

·         Automotive

·         Sports & Leisure

·         Others

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Regional Outlook

North America is currently leading the market, with 34.8% of the global revenue share. In North America, the market is propelled by heavy investments in the aerospace & defence industry and high economic growth. The Asia Pacific region is likely to register the highest CAGR of 14.0% over the forecast period because of the rapid expansion of the automotive industry in this region. Furthermore, the growing demand for regional and commercial aircraft is likely to urge aircraft original equipment manufacturers to establish their assembly plants in this region, hence driving the market growth during the projected period.

Key Highlights of the Report:

·         The market report comprises a broad segmentation of the global Unidirectional (UD) Tapes market on the basis of product type, application gamut, end-use landscape, regional landscape, and competitive scenario.

·         The report lists the key business expansion strategies undertaken by the leading market competitors, such as mergers & acquisitions, collaborations, R&D investments, and product innovations, technological upgradation, etc.

·         The report exhaustively assesses the present market situation, downstream buyers, and upstream feedstock.

·         Additionally, the report gauges the significant impact of modern technologies, such as artificial intelligence and big data analytics, and social media platforms, on the Unidirectional (UD) Tapes market development in the near future.

Advantage of Buying this Report:

The report is furnished with an in-depth analysis of various segments of the market to offer the readers to formulate strategic growth plans and gain a robust footing in the market. Key strategies of the industry are covered in the report. The report is furnished with a thorough evaluation of the impact of these sustainable strategies on the Unidirectional (UD) Tapes industry and offers a competitive edge to the established companies, manufacturers, and key vendors of the Unidirectional (UD) Tapes market as well as to the new entrants gaining traction in the industry.

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