Unidirectional Tapes Market Size, Share & Trends Analysis Report By Product (Thermoplastic, Thermoset), By Fiber (Carbon, Glass, Other Fiber), By End-use (Aerospace & Defense, Automotive), By Region, And Segment Forecasts, 2024 - 2030

Unidirectional Tapes Market Size & Trends

The global unidirectional tapes market size was valued at USD 274.7 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 16.3% from 2024 to 2030. The growing requirement for lightweight components in the automotive and aerospace industries is likely to fuel demand for unidirectional tapes (UD tapes) throughout the forecast period. Furthermore, the rising use of lightweight components across several manufacturing industries is expected to contribute to market growth. The increased use of unidirectional tapes in high-end automobiles and e-vehicles is predicted to boost their adoption in the automotive sector. The usage of a product in a car is helpful to reduce its weight, which further improves its economy and speed. Their use in e-vehicles helps to extend the range of vehicles on a single charge. Several governments, like India, Australia, and Canada, are launching steps to promote the use of e-vehicles, which will boost the need for unidirectional tapes.

The U.S. is expecting a positive trend over the forecast period as the country is witnessing investments in various automotive and aerospace industries. Major manufacturers operating in the country including General Motors, Ford Motor Company, Chevrolet, Tesla, Inc., and others have set up their manufacturing plants in the U.S. owing to the rise in demand. In addition, growing demand for lightweight vehicles coupled with ascending trends for electric vehicles in the country is expected to raise production and, thereby, is likely to have a positive impact on the market.

Manufacturers are adopting technologies such as automated tape laying, advanced fiber placement, and spread tow technology for refining, fastening, and controlling the manufacturing process of unidirectional fibers. Production of these fibers as well as its qualities are regulated as per standards set by the International Organization of Standards (ISO) and American Society of Testing Materials (ASTM).

Market Concentration & Characteristics

The unidirectional tapes market growth stage is medium, and pace of the growth is accelerating. The market exhibits a medium degree of innovation owing to its rising use in automotive industries. Unidirectional tapes can reduce vehicle emissions and expand the utility of battery-powered vehicles. Furthermore, these tapes are 70% lighter than metals but are just as durable and long-lasting.

A majority of the players are involved in mergers & acquisitions to gain a competitive edge over their competitors, which in turn is expected to increase the player's market positioning in the overall market over the forecast period.Furthermore, prominent manufacturers have maintained partnerships and trade agreements with the key application industries in terms of being major component suppliers on a contractual basis in order to remain competitive in the market.

The impact of regulations on the market is low. International Organization Of Standardization (ISO)527-5:2009 specifies the test conditions for the determination of the tensile properties of unidirectional fiber-reinforced plastic composites, based upon the general principles given in ISO 527-1.

There are a number of substitutions available in the market such as metals and woven fabrics that are less costly as compared to unidirectional tapes. Their adoption is expected to be high in the present times, where aerospace and automotive companies are in the recovery phase after the global outbreak of the COVID-19 pandemic, leading to widespread losses in these industries globally. This is expected to increase the substitution threat in the present times.

End-user concentration is one of the characteristics defining the market. The major end-user groups in the market include aerospace, automotive, sports & leisure, oil & gas, medical, and pipe & tanks. They procure materials as per their specific needs via distributors or direct sales agreements with unidirectional tape manufacturers. Manufacturers offer consultation services to customers, thus adding value to the product.

End-use Insights

Aerospace & defense industry accounted for the largest share of the market in 2023 and is further expected to grow at a CAGR of 16.8% over the forecast period. One of the major factors that are propelling product growth in aerospace applications is that the structures and components made with UD tapes take less time to produce. As a result, it decreases the production time to manufacture structural components of an aircraft including aircraft seat frames, business jet wings, and sandwich panels for light aircraft.

Automotive segment accounts for a substantial share of the market as it finds applications in the rear wall of the car, interiors, body & chassis, battery compartment, and other light-weight elements for electric vehicle and high-performance vehicle designs. In addition, UD tapes are 70% lighter than metals with an equal amount of durability and product sustainability.

The Sports & leisure segment accounts for a small share of unidirectional tapes when compared to the aerospace & defense and automotive segment which is primarily attributed to their low volume usage in sports & leisure equipment. One of the major uses of unidirectional tapes is in bicycle frames and recreational equipment such as hockey, lacrosse, and hiking sticks for winding purposes and to increase stiffness.

Other industries that use unidirectional tapes include oil and gas, medical, and warehousing and logistics. Fiber reinforcements using a range of polymer matrices, including polyamide, polyphenylene sulfide, polyethylene, and polypropylene, offer structural rigidity and strength to the tape used in the aforementioned sectors, thereby increasing the product demand.

Product Insights

Based on product, unidirectional tapes are segmented into thermoplastic UD tapes and thermoset UD tapes. Thermoplastic UD tapes led the market in 2023 with a revenue share of 72.2%. The product offers flexibility, durability, and exceptional strength for autoclave manufacturing processes, in-situ consolidation, and press molding. In addition, these tapes have high chemical and fire resistance, which makes them suitable for applications such as rockets, model boats, launch vehicles, and Formula 1 racing cars.

Thermoset UD tapes are anticipated to grow at a CAGR of 15.9% over the forecast period. These tapes are resistant to heat, and solvents, offer exceptional adhesion, and protect against corrosion. The product also exhibits high elasticity and fatigue strength that makes it suitable for various end-use markets including military vests & helmets, airplane wing spars, satellite mold joining, and radome (structural weatherproof enclosure that protects a radar antenna).

Regional Insights

North America dominated the market accounting for a revenue share of 39% in 2023. Robust aerospace and automobile manufacturing industries in the U.S. coupled with the growing demand for lightweight vehicles are expected to increase the demand for unidirectional tapes over the forecast period.

Demand for unidirectional tapes in Europe is anticipated to grow at a CAGR of 18.9% over the forecast period. Major automakers in the region are investing in R&D to develop lightweight automotive components to significantly reduce the overall weight of vehicles which is expected to promote the demand for lightweight bonding materials used in car and truck assemblies. Furthermore, rapid developments in the production of electric vehicles in the region are likely to increase the demand for bonding materials including unidirectional tapes.

Fiber Insights

Carbon fibers dominated the market with a volume share of 69.1% in 2023 as it is used in chassis & door panels of automotive vehicles, reinforcements inserted in protective equipment including helmets and vests, containers & winding pipes in other utility services. Furthermore, carbon fiber is primarily 15% lighter than glass fiber, 40% lighter than aluminum, and approximately 70% lighter than steel, which makes it a very light, strong, and rigid reinforced material.

Glass fiber was the fastest growing fiber in 2023, with a CAGR of 16.8%. Glass fibers are used to make structural composites as well as a wide range of specialty items such as frame and mold connecting sections for watercraft, airplanes, unmanned aerial vehicles, and rockets. When compared to steel wires of the same diameter, glass fiber has a higher tensile strength and a lower weight, making it an ideal choice for the production of unidirectional tapes.

Glass fiber is highly preferable where a large amount of flexibility is required as a result glass fiber-based unidirectional tapes are preferred in inserts for injection molding, tailored blanks, pipe/cylinder winding of varying cross-sectional profiles, and backpack straps. One of the primary advantages of using glass fiber for unidirectional tapes is their high performance per cost ratio owing to the easy processability of glass fiber strands when compared to carbon fibers.

Other fibers that can be used to manufacture unidirectional tapes include aramid fibers, boron fibers, basalt fibers, and ultra-high-molecular-weight (UHMW) polyethylene (PE) fibers. Among these, boron is a commonly used fiber used for making unidirectional tapes. The fiber offers excellent impact resistance to heat and chemicals as fibers are formed by a chemical vapor deposition technique over a tungsten filament at around 1000°C.

Key Companies & Market Share Insights

Some of the key players operating in the market include BASF SE, SABIC, Evonik Industries AG, TEUIN LIMITED, Celanese Corporation:

• BASF SE operates through 11 divisions which are grouped into six segments, namely chemicals (petrochemicals and intermediates), materials (performance materials and monomers), industrial solutions (dispersions & Pigments, and performance chemicals), surface technologies (catalysts and coatings), nutrition & care, and agricultural solutions

• Evonik Industries AG are classified into four business units, namely specialty additives, nutrition & care, smart materials, and performance materials. Its specialty additives division combines the businesses of versatile additives and high-performance crosslinkers. This segment is further classified into five sub-segments namely coating additives, comfort & insulation, crosslinkers, interface & performance and oil additives.

Hexcel Corporation, SGL Carbon, Victrex plc, Eurocarbon B.V., and Cristex Composite Materials are some of the emerging participants in the unidirectional tapes market.

• Hexcel Corporation was established in 1948 and is headquartered in Connecticut, U.S. The company operates through two business segments, namely composite materials and engineered products. Moreover, the company serves international economies through manufacturing facilities, and sales offices located in the Americas, Asia Pacific, Europe, and Africa.

• Victrex plc. operates through two business segments, namely industrial, and medical. Its products include polymers (PEEK polymers), PEEK (Polyether ether ketone) forms (composite tapes, fibers & filaments, and films), and PEAK (Polyaryle ether ketone) parts (aerospace composite solutions, gear solutions, medical device components, piping solutions).

Recent Developments

• In January 2023, Victrex plc. announced that the National Centre for Advanced Materials Performance (NCAMP) had approved a new unidirectional tape (UDT) - VICTREX AETM 250-AS4 - for use in the aerospace industry. The combination of HexTow carbon fiber and Victrex plc's new thermoplastic resin technology is used to create composite materials that minimize energy usage, and aircraft weight, and increase aircraft longevity.

• In April 2021, Barrday Inc. partnered with BÜFA Thermoplastic Composites GmbH & Co. KG, Germany to distribute thermoplastic tapes for industrial applications in Germany, Austria, Hungary, Switzerland, Belgium, Netherlands, Luxemburg, Poland, Estonia, Latvia, Lithuania, and Finland.

• In March 2021, Hexcel announced that it will be developing a new prepreg as part of the UK-based Aerospace and Automotive Supply Chain Enabled (ASCEND) development project. These prepregs will use HiTape advanced unidirectional dry carbon reinforcements and HiMax multiaxial non-crimp fabrics reinforcements. The project focuses on developing manufacturing and processing technologies to make new, more lightweight composite materials.

Unidirectional Tapes Market Report Scope

Global Unidirectional Tapes Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global unidirectional tapes market report based on product, fiber, end-use, and region:

• Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)

  • Thermoset UD Tapes

  • Thermoplastic UD Tapes

• Fiber Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)

  • Glass Fiber

  • Carbon Fiber

  • Other Fiber Other

• End-use Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)

  • Aerospace & Defense

  • Automotive

  • Sports & Leisure

  • Other End-uses

• Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Central & South America

    • Brazil

    • Argentina

  • Middle East and Africa