The global Thermoplastic Tapes Market is forecast to reach USD 499.0 Million by 2027, according to a new report by Reports and Data. This is estimated to grow at a rapid pace over the forecasted period owing to its increasing demand from industries such as aerospace & defense, automotive, and others. The product consists of endless fibers that are embedded into the thermoplastic or thermoset polymer matrix and are oriented in one direction. Across the globe, industries are implementing techniques to cost-efficiently manufacture parts that have low weight and high mechanical strength. The Thermoplastic tapes are expected to serve the aims aforementioned and increase demand for various other applications. The market is estimated to witness high demand owing to its rising application in the lightweight and high-strength components from the automotive industry. Moreover, increasing government pressure on improving fuel efficiency is estimated to drive the demand for lightweight parts, thereby propelling the growth of the product.

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Competitive Landscape:

Evonik Industries, SABIC, Solvay, Hexcel Corporation, Royal Tencate, SGL Group, Teijin Limited, Celanese Corporation, BASF, and Victrex have been profiled in the report. They are the major manufacturers of the product.

The players operating in the market have undertaken a number of strategies related to the market in the period 2017-2020. The key highlight is:

• In February 2017, Evonik introduced endless fiber-reinforced Thermoplastic tapes under the VESTAPE brand. The company is manufacturing both Thermoplastic and glass tapes using specialty high-temperature polyamides and polyamide 12.

 Market Overview:

The packaging industry is rapidly expanding in terms of revenue in the recent years, and is expected to register rapid revenue CAGR throughout the forecast period of 2020 to 2027. Rapid revenue growth is attributed to factors such as rising global population, changing lifestyle, increasing disposable income and rapid growth of the e-commerce sector. Increasing penetration of internet, social media, improving standard of living and rapid growth in the doorstep deliveries are some other factors boosting global market revenue growth. In addition, various manufacturers are focusing on offering sustainable packaging to cater to rising environmental concerns. Local dealers are focusing on innovative packaging to attract consumers.  

Key questions addressed in the report:

• What size is the global Thermoplastic (UD) Tapes market expected to reach over the forecast period?
• Which revenue CAGR is the global market expected to register throughout the forecast period?
• Which factors are expected to hamper global market growth during the forecast period?
• Which key factors are expected to driver global Thermoplastic (UD) Tapes market throughout the forecast period?
• Which application segment is expected to register fastest revenue CAGR between 2020 and 2027?
• Which region is expected to register fastest revenue CAGR throughout the forecast period?
• What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?

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Global Thermoplastic (UD) Tapes Market Segmentation:

Type Outlook:

• Thermoplastic UD tapes
• Thermoset UD tapes

Applications Outlook:

• Aerospace & Defense
• Automotive
• Sports & Leisure
• Others

Regional Analysis covers:

• North America
  • S.
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • K.
  • Rest of EU
• Asia Pacific
  • India
  • China
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • A.E
  • Rest of MEA

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