The carbon fiber tape market is expected to increase at a compound annual growth rate (CAGR) of 13.4% over the forecast period, with a global market value of 3.1 billion in 2023. Carbon fiber tape's growing use in the defense and aerospace industries is propelling market expansion. Aircraft components frequently use carbon fiber tape because of its excellent strength-to-weight ratio. Growing industrialization and urbanization in emerging economies are fueling market expansion. Dry tape's rising demand is a major factor in the market's expansion.

The industry is expanding as a result of manufacturers using lightweight materials like carbon fiber in response to consumer demand for fuel-efficient aircraft. Carbon fiber tape is being used more often in EVs and premium automobiles as a result of the drive for lighter vehicles to increase fuel economy and lower emissions.

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Growth Drivers

Innovations like automated fiber placement and improved resin systems are making production more cost-effective, which is driving adoption. Growing defense investments and military applications, such as drones, protective gear, and missile components, are driving market growth. The construction industry uses carbon fiber tape for reinforcement, seismic retrofitting, and corrosion-resistant structures. The market is also being driven by increasing industrialization and the world's rapidly expanding population.

Sports equipment like bicycles, golf clubs, and fishing rods are made stronger and more aesthetically pleasing with carbon fiber tape. Carbon fiber tape is increasingly being used in wind turbine blades for improved performance and durability as a result of the growth of renewable energy.

Segmentation

Carbon Fiber Tapes Resin Type

·         Dry Tape

·         Prepreg Tape

Carbon Fiber Tapes End User

·         Aerospace & Defense

·         Automotive

·         Sports & Leisure

·         Others

By Region

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Key Players

·         Evonik Industries

·         SABIC

·         Solvay

·         Hexcel Corporation

·         Royal Tencate

·         SGL Group

·         Teijin Limited

·         BASF SE

·         Celanese Corporation

·         Victrex

·         Cristex

·         Euro carbon

·         PRF Composite Materials

·         TCR Composites

·         Sigmatex

·         Other Players

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