The unidirectional tapes (UD Tapes) market is estimated at USD 165.8 million in 2018 and is projected to reach USD 316.3 million by 2023, at a CAGR of 13.79% from 2018 to 2023
LONDON, June 20, 2018 /PRNewswire/ -- Unidirectional tapes (UD Tapes) market projected to grow at CAGR of 13.79%
The unidirectional tapes (UD Tapes) market is estimated at USD 165.8 million in 2018 and is projected to reach USD 316.3 million by 2023, at a CAGR of 13.79% from 2018 to 2023. The growth of the market is driven by the increasing demand from end-use industries, such as aerospace & defense, automotive, and sports & leisure mostly from the North America region. The cost of UD tapes is high as compared to that of UD fabrics. This is a drawback that severely restricts its range of uses.
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Aerospace & defense to be the fastest-growing end-use industry segment of UD tapes market
UD tapes are used in various end-use industries, such as aerospace & defense, automotive, and sports & leisure.The growth of the UD tapes market in the aerospace & defense industry is driven by the need for fuel-efficient and technologically advanced aircraft.
UD tapes have higher strength-to-weight capability than other traditional aerospace materials.In addition, high strength, high stiffness, and high abrasion resistance are achieved with the use of UD tapes in aircraft.
These tapes are used in both primary and secondary structures in aircraft.UD tapes are used in aircraft seat frames as they help reduce the weight of aircraft seats by 30% in comparison to the traditional aluminum frame seats.
These factors are expected to drive the demand for UD tapes in the aerospace & defense end-use industry during the forecast period.
Rising demand from North America is major driver for UD tapes market
North America is estimated to account for the largest share of the UD tapes market in 2018, in terms of both volume and value.The market in this region is also projected to register the highest CAGR between 2018 and 2023, in terms of value.
The North America UD tapes market is driven by high economic growth and heavy investments in the aerospace & defense industry. Increasing demand for lightweight, fuel-efficient, and technologically advanced aircraft is expected to drive the demand for UD tapes in North America.
Extensive primary interviews have been conducted and information has been gathered from secondary research to determine and verify the market size of several segments and subsegments.
Breakup of Primary Interviews:
? By Company Type: Tier 1 ? 45%, Tier 2 ? 35%, and Tier 3 ? 25%
? By Designation: C Level ? 34%, D Level ? 26%, and Others ? 41%
? By Region: North America ? 24%, Europe ? 42%, APAC ? 21%, Middle East & Africa ? 7%, and South America ? 6%
Key companies profiled in this report include Royal TenCate N.V. (Netherlands), Cytec Solvay Group (US), SABIC (Saudi Arabia) Teijin Ltd. (Japan), Hexcel Corporation (US), and Evonik industries (Germany).
Research Coverage:
The UD tapes market report has been segmented on the basis of fiber type (glass, carbon), resin (thermoplastic, thermoset), end-use industry (aerospace & defense, automotive, sports & leisure), and region (North America, Europe, Asia Pacific, South America, and Middle East & Africa).The end-use industry segment is further analyzed for each country in the respective regions.
The report also provides company profiles and competitive strategies adopted by key players in the UD tapes market.
Reasons to Buy the Report:
From an insight perspective, this research report focuses on various levels of analyses?industry analysis (industry trends), market share analysis of top players, value-chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
? Market Penetration: Comprehensive information on UD tapes offered by top players in the UD tapes market
? Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the UD tapes market
? Market Development: Comprehensive information about lucrative emerging markets ? the report analyzes the market for UD tapes across regions
? Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the UD tapes market
? Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the UD tapes market
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