SAN FRANCISCO, July 21, 2020
SAN FRANCISCO, July 21, 2020 /PRNewswire/ -- The global carbon fiber tapes market size is expected to reach USD 4.9 billion by 2027, expanding at a CAGR of 13.4%, according to a new report by Grand View Research Inc. The rapidly rising demand for advanced materials with superior strength to weight ratio in the transportation sector is expected to bolster the market over the forecast period.
Carbon fiber tapes are emerging as one of the crucial materials in facilitating the automotive industry to curb vehicle emission, execute lightweight construction, and extend the range of e-mobility. However, the usage of the product in automotive applications is still in its nascent stage and is expected to offer excellent potential for the future.
Key suggestions from the report:
The prepreg form segment accounted for USD 1.4 billion revenue in 2019 owing to the superior mechanical properties offered by the product
Read 143 page research report with ToC on "Carbon Fiber Tapes Market Size, Share & Trend Analysis Report By Form (Dry Tapes, Prepreg Tapes), By End Use (Aerospace & Defense, Automotive), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/carbon-fiber-tape-market
Advancements in automated tape laying process are leading to facilitating the manufacturing of composites that are at par with steel in terms of structural integrity at a fracture load. Employment of software-controlled machine systems enables tapes laying for the creation of layup containing intricate shapes, thereby posing positive growth opportunities for the market.
Key end-users in the value chain are involved in process improvement research for the production of composite parts through tapes, especially for the automotive and aerospace sector. The aforementioned efforts are expected to enhance the processing speed, reduce the part cost, thereby boosting the adoption rate of the product in various end-use industries.
Grand View Research has segmented the global carbon fiber tapes market on the basis of form, end-use, and region:
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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