DALLAS, TX / ACCESSWIRE / January 21, 2021 / According to a new market report published by Lucintel, the future of the thermoplastic unidirectional tape market looks attractive with opportunities in the aerospace & defense, transportation, sporting goods, industrial, and other industries. The thermoplastic unidirectional tape market is declined in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to grow with a CAGR of 6% to 8% from 2021 to 2030. The major growth driver for this market is increasing use of thermoplastic composites because it offers recyclability and processing benefits, such as ability to remold, shorter cycle time, and no emission of volatile matter.
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In this market, aerospace & defense, transportation, sporting goods, and industrial are the major end use industries. Lucintel forecasts that the transportation will remain the largest end use industry by volume, and it will also witness the highest growth during the forecast period. Increasing demand for lightweight materials to achieve higher fuel efficiency and reusable and recyclable materials for environmental benefits are driving growth for this segment over the forecast period.
By reinforcement type, glass fiber based UD tape is expected to remain the largest segment, and carbon fiber is likely to witness the highest growth in the forecast period supported by increasing usage of lightweight materials in aircraft components.
By resin type, PEEK resin based UD tape is expected to remain the largest segment by value and to witness the highest growth over the forecast period due to its growing use in the aerospace and defense industry.
North America is expected to remain the largest market by value and volume and to witness the highest growth over the forecast period because of rising penetration of thermoplastic unidirectional tape in major end use industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include the continuous innovation and development of new products and applications. Cytec Solvay Group, QIYI Technology, Polystrand (Polyone), TenCate (Toray), Toho Tenax, and Celanese are the major companies in the thermoplastic unidirectional tape market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the thermoplastic unidirectional tape market by end use industry, reinforcement type, resin type, and region, and has compiled a comprehensive research report entitled 'Growth Opportunities in the Thermoplastic Unidirectional Tape Market 2021-2030: Trends, Forecast and Opportunity Analysis.' The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast of the thermoplastic unidirectional tape market by end use industry, reinforcement type, resin type, and region as follows:
By End Use Industry [Volume (M lbs) and Value ($ Million) from 2015 to 2030]:
- Aerospace & Defense
- Sporting Goods
By Reinforcement Type [Volume (M lbs) and Value ($ Million) from 2015 to 2030]:
- Glass Fiber
- Carbon Fiber
By Resin Type [Volume (M lbs) and Value ($ Million) from 2015 to 2030]:
- Polyether- Ether-Ketone (PEEK)
- Polyamide (PA)
- Polypropylene (PP)
- Polyphenylene Sulfide (PPS)
By Region [Volume (M lbs) and Value ($ Million) from 2015 to 2030]
- North America
- Asia Pacific
- The Rest of the World
This 130-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link email@example.com.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
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