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The trend of lightweighting in various industries, such as aerospace, automotive, and sports equipment, has led to an increased demand for carbon fiber tape. Carbon fiber's high strength-to-weight ratio makes it a preferred material to reduce overall weight and improve performance. The automotive industry is increasingly adopting carbon fiber tape to manufacture lightweight components for vehicles. Carbon fiber composites help improve fuel efficiency, reduce emissions, and enhance overall vehicle performance.
The carbon fiber market share from the epoxy segment was worth USD 0.8 billion in 2022 and is expected to witness rapid growth through 2032, due to rapid and widespread usage owing to the high strength, stiffness, and excellent adhesion of epoxy fiber tape.
Global market for carbon fiber tape recorded USD 1.7 billion in 2022 and is estimated to register USD 5.5 billion by 2032, due to increasing demand for carbon fiber tape in the aerospace and defense industries worldwide.
U.S. industry size recorded USD 1.7 billion in 2022 and will see significant growth through 2023 - 2032, owing to the robust application in aircraft, rotorcraft, UAVs, and military operations.
Some of the prominent carbon fiber tape companies are Toray Industries, Inc., Mitsubishi Chemical Corporation, SGL Carbon SE, Teijin Limited (Teijin Carbon), Hexcel Corporation, Solvay S.A., Cytec Industries, Zoltek Companies, Inc., A&P Technology, Inc, Toray Composite Materials America, Inc., CompoTech Plus s.r.o., and Sigmatex Group.