The global thermoplastic tape market size is expected to be valued at USD 2.3 billion in 2023. Increasing infrastructure development and construction activities, bolsters the overall scope for thermoplastic tape market, which is projected to grow at a CAGR of 4.7% between 2023 and 2033, totaling around USD 3.6 billion by 2033.
| Data Points | Key Statistics |
|---|---|
| Thermoplastic Tape Market Value 2023 | USD 2.3 billion |
| Thermoplastic Tape Market Projected Value (2033) | USD 3.6 billion |
| Thermoplastic Tape Market CAGR (2023 to 2033) | 4.7% |
Advancements in manufacturing technologies play a crucial role in boosting the growth of the thermoplastic tape market. The development of automated tape laying (ATL) and automated fiber placement (AFP) technologies has revolutionized the production of thermoplastic tapes, offering several advantages in terms of efficiency, accuracy, and material utilization.
Automated tape laying (ATL) is a manufacturing process that involves the precise placement of thermoplastic tapes onto a substrate or mold. The technology utilizes robotic systems or computer-controlled machines to lay down tapes in a predetermined pattern. ATL ensures consistent and accurate tape placement, by automating the tape placement process, reducing human errors and improving the overall quality of the final product.
Automated fiber placement (AFP) technology is used to lay continuous fiber tapes or tows onto a surface, providing strength and reinforcement to the thermoplastic material. AFP technology enables the precise control of fiber placement, allowing for complex geometries and tailored fiber orientations, which results in enhanced mechanical properties and optimized performance of thermoplastic tape-based components.
The use of ATL and AFP technologies in thermoplastic tape manufacturing offers several benefits. The automated processes significantly improve manufacturing efficiency and productivity. The precise placement of tapes reduces material waste, as it minimizes the need for trimming or excess material removal, which not only reduces production costs but also contributes to sustainable manufacturing practices.
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The global demand for Thermoplastic Tape is projected to increase at a CAGR of 2.2% during the forecast period between 2018 and 2022, reaching a total of USD 3.6 billion in 2033.
According to Future Market Insights, a market research and competitive intelligence provider, the thermoplastic tape market was valued at USD 2.2 billion in 2022.
The aerospace industry is a major driver of growth in the thermoplastic tape market due to its increasing demand for lightweight and high-performance materials. Aircraft manufacturers and suppliers are continually seeking innovative solutions to improve fuel efficiency, reduce emissions, and enhance overall performance. Thermoplastic tapes offer several advantages that align with these objectives, making them highly desirable in aerospace applications.
One of the key advantages of thermoplastic tapes in the aerospace industry is their exceptional strength-to-weight ratio. The tapes are lightweight yet possess high tensile strength, stiffness, and impact resistance. The use of thermoplastic tapes in critical aerospace components helps reduce the overall weight of the aircraft, leading to improved fuel efficiency and lower operating costs. The lighter weight also allows for increased payload capacity and improved range capabilities.
Thermoplastic tapes offer excellent fatigue resistance, which is essential for aerospace applications subjected to repetitive loading cycles. Aircraft components, such as wings, fuselage sections, and interior panels, are exposed to constant vibrations and stress during flight. Thermoplastic tapes can withstand these dynamic forces, providing long-term durability and structural integrity.
Thermoplastic tapes exhibit excellent chemical resistance, moisture resistance, and thermal stability, making them suitable for the demanding operating conditions of aerospace applications. They can withstand extreme temperatures, aggressive chemicals, and high levels of humidity without compromising their performance. The property ensures the longevity and reliability of aerospace components, reducing maintenance requirements and enhancing overall safety.
Increasing Demand from Automotive Industry is Likely to be Beneficial for Market Growth
The increasing demand from the automotive industry is a significant trend driving the growth of the thermoplastic tape market. The automotive sector is constantly seeking lightweight materials to improve fuel efficiency, enhance performance, and reduce carbon emissions. Thermoplastic tapes offer several advantages that align with these goals, making them a preferred choice in automotive manufacturing.
One of the key advantages of thermoplastic tapes is their exceptional strength-to-weight ratio. The tapes are lightweight yet exhibit high tensile strength and stiffness, allowing automotive manufacturers to reduce the weight of vehicles without compromising structural integrity. Automakers can achieve significant weight reduction, by replacing traditional metal components with thermoplastic tapes, resulting in improved fuel efficiency and lower emissions.
Thermoplastic tapes also offer excellent impact resistance, which is crucial in the automotive industry to ensure the safety of occupants and protect vehicle components from damage. The ability of these tapes to absorb and dissipate energy upon impact helps enhance the overall crashworthiness of vehicles.
Thermoplastic tapes provide design flexibility, enabling complex and intricate shapes to be formed during the manufacturing process. The flexibility allows for the customization of automotive parts, such as interior panels and exterior body panels, meeting specific design requirements while maintaining structural integrity. The thermoplastic tapes can be easily molded or formed into different shapes and sizes, providing versatility in automotive applications.
Growing Focus on Sustainable & Recyclable Materials to Fuel the Market Growth
Increasing focus on sustainable and recyclable materials is a significant trend that is propelling the growth of the thermoplastic tape market. Industries across various sectors are actively seeking sustainable alternatives to traditional materials, in response to increasing environmental concerns and regulatory requirements. Thermoplastic tapes offer several advantages in terms of sustainability and recyclability, making them a preferred choice for environmentally conscious industries.
One key aspect of thermoplastic tapes is that they can be produced from recyclable materials. Many thermoplastic resins used in tape manufacturing, such as polypropylene (PP) and polyethylene (PE), are recyclable. The materials can be processed and transformed into new thermoplastic tapes or other products through recycling processes. The ability to recycle thermoplastic tapes reduces the dependency on virgin materials and minimizes waste generation.
The processing and recycling of thermoplastic tapes are relatively straightforward and energy-efficient compared to other materials. Thermoplastics can be melted and re-molded multiple times without significant degradation in their mechanical properties. The characteristic allows thermoplastic tapes to be easily processed, recycled, and reformed into new products, supporting a circular economy approach.
Industries, by choosing thermoplastic tapes made from recyclable materials, can contribute to reducing their environmental footprint. The use of recyclable thermoplastic tapes helps conserve natural resources, reduce energy consumption, and lower greenhouse gas emissions associated with the production of new materials.
0.21 to 0.40mm to Take the Lion’s Share
0.21 to 0.40 mm thickness is estimated to register a CAGR of nearly 5.0% from 2023 to 2033. The thickness range offers the required strength and less weight to the product produced. All these factors are anticipated to augment the demand for 0.21 to .40 mm thickness in the global thermoplastic tapes market.
Automotive Sector to Take the Lion’s Share
The automotive sector is expected to hold a market share of 35.5% in 2023. The thermoplastic tape helps in the weight reduction of the vehicles, enhances fuel efficiency, and lowers carbon emissions. The tapes are also used to enhance the visual appearance of the automotive parts. The automotive sector is projected to expand by 1.5x times during the forecast period. The segment is expected to hold a CAGR of 4.6% during the forecast period.
Increasing Demand from Aerospace Companies to Boost the Market Growth
According to FMI, the United States is expected to hold around 92% of the market share in North America till the year 2033. According to the USA Aerospace Industries Association, the United States of America's aerospace and defense industry accounted for 1.8% of the total USA GDP of around USD 382 Billion.
Advanced Air Mobility (AAM) vehicles are likely to revolutionize passenger and cargo travel in the coming decades. The thermoplastic tapes market is diversified into industries such as military, defense, aerospace, and automotive.
The primary driving force behind the growth is the increased use of thermoplastic tapes by aerospace companies on account of less time required to produce the components and structures with these composite materials. Thermoplastic tapes are extensively used in several parts of the aircraft industry like aircraft seat frames, business jet wings, sandwich panels in light aircraft, etc.
The rise in air traffic and the demand for new aircraft across the globe increase aircraft production in the United States will showcase a significant demand for the thermoplastic tapes market. The country is expected to hold a CAGR of 4.6% over the analysis period.
Growing Automobile Sector to Boost the Market Growth
Germany is estimated to hold a promising CAGR of 3.7% in Europe during the forecast period. According to the European Automobile Manufacturers Association, the European automobile sector continues to be the backbone of economic growth, mobility, and innovation in Europe by contributing over 7% of the EU’s GDP.
The automotive industry is considering more thermoplastic materials in the vehicle to reduce the overall weight to make them more efficient. Thermoplastic adhesive tapes are easy to apply, lightweight, and low-cost. The growing demand for new cutting-edge technology to produce lightweight, cost-effective, and recyclable vehicle panels in the automobile sector in Germany will bolster the demand for thermoplastic tapes.
Thermoplastic tapes are also used in the battery-pack systems of electric vehicles. The escalating focus on minimizing carbon emissions by reducing vehicle weight and enhancing fuel economy drives the thermoplastic tapes in the German market. The growing usage of thermoplastic tape in electric vehicles and high-end cars due to a reduction in vehicular weight will propel the market demand.
Thermoplastic tape market startup players are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to create a larger customer base. For instance,
Key players in the thermoplastic tape market are strongly focusing on profit generation from their existing product portfolios along while exploring potential new applications. The players are emphasizing on increasing their thermoplastic tape production capacities, to cater to the demand from numerous end use industries. Prominent players are also pushing for geographical expansion to decrease the dependency on imported thermoplastic tape.
Recent Developments:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for value and Tons for Volume |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; East Asia & Pacific; South Asia; and Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel. |
| Key Segments Covered | Thickness, Material, End Use, and Region |
| Key Companies Profiled | Evonik Industries AG; Toray Advanced Composites; Solvay S.A.; Mitsui Chemicals Inc.; Arkema S.A.; Teijin Limited; Covestro AG; Koninklijke DSM N.V.; Sabic Corporation; MaruHachi Corporation; Suprem SA; Shanghai Topolo New Materials Co. LTD; SGL Carbon SE; CompTape B.V.; Avient Corporation |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global thermoplastic tapes market value is pegged at USD 2.3 billion for 2023..
The automotive manufacturing sector generates nearly 35.5% of the global demand.
The United States would continue to occupy nearly 92% of the North America Market.
The regional market in Germany could be driven by growing automobile sector.
The sales of thermoplastic tubes of 0.21 to 0.41 mm thickness could rise at 5% CAGR through 2033.
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