Unidirectional Tapes (UD) Market worth $332 million by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 8, 2022 /PRNewswire/ -- According to the new market research report "Unidirectional Tapes (UD) Market by Fiber (Glass, Carbon), Resin (Thermoplastic, Thermoset), End-use Industry (Aerospace & Defense, Automotive, Sports & Leisure) and Region (North America, Europe, Asia Pacific) - Global Forecasts to 2026", published by MarketsandMarkets™, the global UD tapes market size is projected to grow from USD 194 million in 2021 to USD 332 million by 2026, at a CAGR of 11.4%. There has been wide acceptance of UD tapes in various industries such as aerospace & defense, automotive, sports & leisure, which is expected to drive the market. The increasing use of UD tapes in primary & secondary structures of commercial aircraft and the high demand for commercial aircraft are driving the UD tapes market in the aerospace industry.
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The thermoplastic resin segment is estimated to account for the largest share of the UD tapes market, by resin, during the forecast period.
The thermoplastic resin segment accounts for the larger share of the overall UD tapes market. These tapes are used in a large number of industries, including aerospace &defense, automotive, and sporting goods. They are widely used in the aerospace &defense industry due to their toughness, high strength, moisture absorption resistance, high-performance properties, and ability to survive under high-temperature conditions.
The glass fiber segment is estimated to account for the largest share of the UD tapes market, by fiber, during the forecast period.
Glass fiber dominates the global UD tapes market owing to its ease of processing and manufacturing as compared to carbon fiber, which is very difficult to process. Glass fiber-based UD tapes are used in a number of industries such as automotive, industrial engineering, and high-performance sports equipment. They are produced in large volumes for structural components of automobiles and for applications in sports and aerospace &defense industries.
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The aerospace &defense segment is estimated to be the largest end-use industry in the UD tapes market during the forecast period.
The aerospace &defense industry dominates the UD tapes market due to the increasing demand for lightweight aircraft from Boeing and Airbus aircraft. This increase in demand is mainly due to the superior properties of UD tapes, which help reduce the overall weight of airplanes and provide corrosion resistance, high strength, and high abrasion. UD tapes are extensively used for repairing aircraft wings and for rapidly building part thickness in aircraft. The entry of new aircraft manufacturers, such as Comac (China) and United Aircraft Corporation (Russia), is expected to boost the demand for UD tapes during the forecast period.
UD tapes market in North America is expected to register the highest CAGR during the forecast period.
North America is also the fastest-growing market and is projected to register the highest CAGR during the forecast period, owing to the increasing demand from end-use industries such as aerospace &defense, automotive, and sports & leisure. The useful properties offered by UD tapes, such as high strength, stiffness, and width tolerance, and high rigidity, make it an ideal material for use as reinforcement in the mentioned end-use industries.
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Leading global companies are shifting their production facilities, establishing sales offices, and expanding their distribution channel to regions, such as China, India, and Southeast Asia, to ensure sustainable demand and increase their market share. The gradual shift of manufacturing facilities to countries having high demand and lower production cost is positively influencing the market growth.
Major players operating in the UD tapes market include Toray Industries, Inc. (Japan), SABIC (Saudi Arabia), Evonik Industries (Germany), Hexcel Corporation (US), SGL Group (Germany), Teijin Limited (Japan).
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