The global Unidirectional Tapes Market size is expected to reach USD 502.9 million by 2028, registering a CAGR of 15.9% over the forecast period, according to a new report by Grand View Research, Inc. The growing emphasis by aerospace companies on the production of lightweight aircraft is expected to drive the demand for unidirectional (UD) tapes over the forecast period. The development of advanced products for sealing, coupled with the rising investments in R&D for the production of advanced high-strength adhesive tapes, is projected to drive the product demand over the forecast period.
In addition, the development of eco-friendly solvent recovery technology used for the coating of adhesives is expected to drive the product demand in the coming years. Aerospace & defense was the largest end-use segment in 2020 and is likely to maintain its dominance over the forecast period. Thermoplastic and thermosets UD tapes are used in primary and secondary aircraft structures and high-load aircraft interior applications including fuselage, wings, cargo liners, bulkheads/class dividers, and lavatory modules.
The market is moderately competitive owing to the presence of a limited set of players majorly concentrated in the U.K. and Germany. The market is also highly influenced by various other players from the countries, such as the U.S., Saudi Arabia, Japan, and the Netherlands. Major players in the industry focus on research & development activities to introduce ultra-lightweight components for bonding operations the in automotive and aerospace sectors
Related Press Release@ Unidirectional Tapes Market Report
Unidirectional Tapes Market Report Highlights
- North America accounted for the largest revenue share of over 39% of the global UD tapes market in 2020
- Prominent automobile manufacturers in the region are engaged in the production of lightweight vehicles, which is boosting the product demand
- The thermoplastic resin type segment led the global market in 2020 with a revenue share of 74.7%
- It is expected to expand further at the fastest CAGR from 2021 to 2028 on account of the superior characteristics of these resins that enhance the performance of tapes
- The carbon fiber segment is expected to ascend at the second-fastest CAGR of more than 16% from 2021 to 2028
- This growth is credited to their wide application scope in automotive and aerospace parts manufacturing operations
- In the U.S., the demand for glass fiber products accounted for a significant volume share in 2020, this was supported by the increased utilization of tapes in manufacturing industries
- The market is moderately competitive with a limited number of multinational companies