The market for Unidirectional Tapes (UD Tapes) Equipment is being driven by a number of factors, including increased end-use sector demand for UD tapes, technical advances, and government measures to boost the composites industry. Additionally, UD tapes' outstanding qualities, including their high strength and stiffness, are fueling their rising acceptance across a range of end-use sectors and driving the market. The market is expanding because of the rising consumer demand for lightweight and energy-efficient products.
Due to UD tapes' characteristics, including their high strength, stiffness, and lightweight, there is a demand for UD tape equipment. UD tapes are utilised in a variety of end-use industries, including automotive, aerospace, marine, wind energy, and other sectors. In many applications, UD tapes are taking the place of conventional materials like steel and aluminium due to their superior qualities.
The Equipment Market for Unidirectional Tapes (UD Tapes) has a number of benefits, including high strength, low weight, and resistance to impact, abrasion, and fatigue. UD tapes are very easy to manufacture and can be moulded into a variety of sophisticated shapes. The fact that UD tapes adhere well to metals, polymers, and composites is another benefit of using them.
Equipment is used to create unidirectional tapes, sometimes known as UD tapes. Aerospace, automotive, and wind energy are just a few of the industries that use the highly durable tapes produced utilising UD tape machinery. Kevlar, glass, or carbon fibres are used to make unidirectional tapes. These tapes come in a variety of widths and are used to reinforce composite materials.
In order to reach a market value of USD 2.4 billion by 2031, the global Unidirectional Tapes (UD Tapes) Equipment market is anticipated to expand at a CAGR of 5.4% from 2021 to 2031.
The high cost of UD tapes and the general lack of knowledge about UD tapes in various areas are the problems the Unidirectional Tapes (UD Tapes) Equipment Market must overcome. Additionally, the fluctuating cost of raw materials is limiting industry expansion. However, possibilities for market expansion are anticipated to arise from the increased demand from the Asia-Pacific area. In the upcoming years, it is also projected that the development of biocomposites would present new chances for market participants.
Hexcel Corporation, Owens Corning, Teijin Limited, Toray Industries Inc., SGL Group, Cytec Solvay Group, Zoltek Companies Inc., and Nitto Denko Corporation are the major companies active in the Unidirectional Tapes (UD Tapes) Equipment Market.
The 150-300mm Type to Emerge as the Most Lucrative Segment
According to type, there are four categories for the Unidirectional Tapes (UD Tapes) Equipment Market: Below 50mm, 50-150mm, 150-300mm, 300-800mm, and Above 800mm. The largest CAGR among these types is anticipated for the 150-300mm category during the projection period. Due to their excellent properties, such as high strength and lightweight, UD tapes are becoming more and more in demand from the automotive and aerospace industries, which is propelling the growth of this market. The 50-150mm segment is anticipated to hold the largest market share in 2020. These industries employ a variety of tapes frequently because of their vast range of potential applications, which include the aerospace and automotive industries.
The Most Popular Application Segment is Automotive UD Tapes Manufacturing
During the projected period, the manufacturing of UD tapes for vehicles is anticipated to increase at the greatest CAGR. The expansion of this market is being driven by the increasing demand for UD tapes from the automotive industry due to their superior qualities like high strength and lightweight. Additionally, it is predicted that throughout the projection period, the Aerospace UD tapes manufacturing segment would expand at the second-highest CAGR. due to the aerospace industry's increased need for UD tapes, which is driven by their outstanding qualities including high strength and lightweight.
The Asia Pacific (APAC) region to render Adequate Financing Avenues
The global Unidirectional Tapes (UD Tapes) Equipment Market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Asia-Pacific is expected to see the highest CAGR of all of these regions during the projected period as a result of its quickly growing end-use industries. The North American region is predicted to hold the largest market share in 2020 since there are substantial manufacturers in this area. The region of Europe is likely to experience moderate growth during the predicted timeframe. The regions of South America and the Middle East & Africa are anticipated to have considerable growth during the projected period due to the presence of a large number of end-use industries. The expanding demand for UD tapes from the automotive and aerospace industries is blamed for this expansion.
COVID-19 Impact and Market Status
The COVID-19 epidemic has affected every aspect of life on a global scale. The automotive industry has been among those most badly damaged by the pandemic. The lockdown that has been imposed by many governments throughout the world has led to a decline in vehicle production and sales. Additionally, this has had a negative impact on the equipment market for UD tapes. However, as lockdown restrictions are gradually removed and industrial operations are gradually resumed, it is projected that the market will recover in the coming months. Additionally, it is projected that the market would be driven during the projection period by people's preference for personal vehicles over public transit.
Latest Innovations in the Global Unidirectional Tapes (UD Tapes) Equipment Market: A Snapshot
• Owens Corning announced the release of their new Xstreme Tape product in January 2019. For the primary and secondary reinforcing of composite parts, it is a unidirectional tape. According to the manufacturer, this product's mechanical qualities are superior to those of other items on the market.
• Hexcel Corporation stated in February 2019 that it has successfully acquired Composite Matrix Systems (CMS) from LORD Corporation. The company will be able to diversify its product offering in the unidirectional tapes market thanks to this acquisition.
• Teijin Limited revealed in March 2020 that it has created a new item called "Teijinconex UD tape" that was constructed of carbon fibre and polypropylene. According to reports, this product adheres well to epoxy resin and can be used in a variety of industries, including wind energy, marine, automotive, etc.
Unidirectional Tapes (UD Tapes) Equipment Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 2.4 billion|
|Growth Rate||CAGR of 5.4% during 2021-2031|
|Segment Covered||by Type, by Deployment, By Application, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Hexcel Corporation, Owens Corning, Teijin Limited, Toray Industries Inc., SGL Group, Cytec Solvay Group, Zoltek Companies Inc., and Nitto Denko Corporation|
Key Segment of Global Unidirectional Tapes (UD Tapes) Equipment Market
By Type Overview 2021-2031, (USD Billion)
• Above 800mm
By Application Overview 2021-2031, (USD Billion)
• Automotive UD Tapes Manufacturing
• Aerospace UD Tapes Manufacturing
By Region Overview 2021-2031, (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa