Assessing the Competitive Landscape of the Thermoplastic Tape Market

Posted 2023-07-25 14:00:07

The global thermoplastic tape market is experiencing remarkable growth, expected to reach a value of US$2.3 billion in 2023. This surge is primarily fueled by increased infrastructure development and construction activities, which bode well for the thermoplastic tape industry. Predictions suggest that from 2023 to 2033, the market will continue to expand at a steady pace, with a projected Compound Annual Growth Rate (CAGR) of 4.7%, reaching an estimated total value of US$3.6 billion by 2033.

One of the key drivers of this growth is the advancement of manufacturing technologies, particularly the introduction of automated tape laying (ATL) and automated fiber placement (AFP) technologies. These cutting-edge processes have revolutionized thermoplastic tape production, offering significant advantages in terms of efficiency, precision, and material utilization.

In automated tape laying (ATL), precise placement of thermoplastic tapes onto a substrate or mold is achieved using robotic systems or computer-controlled machines. This automation ensures consistent and accurate tape placement, reducing human errors and elevating the overall quality of the final product.

Similarly, automated fiber placement (AFP) technology involves the precise application of continuous fiber tapes or tows onto a surface, reinforcing the thermoplastic material and providing additional strength. AFP allows for meticulous control of fiber placement, enabling the creation of components with intricate geometries and tailored fiber orientations. As a result, thermoplastic tape-based components gain enhanced mechanical properties and optimized performance.

The integration of ATL and AFP technologies in thermoplastic tape manufacturing brings several benefits. The automated processes significantly improve manufacturing efficiency and productivity, leading to cost savings for producers. Moreover, precise tape placement reduces material waste by minimizing the need for trimming or excess material removal, promoting sustainable manufacturing practices

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Key Takeaways:

The thermoplastic tapes market is estimated to reach USD 3.6 billion by 2033, with a CAGR of 4.7% from 2023 to 2033.
In 2022, the market constitutes approximately 23.9% of the adhesive tapes market, valued at USD 73.6 billion.
The global consumption of thermoplastic tape is expected to grow at a YoY rate of 4.5% between 2022 and 2023.
The resin segment is projected to hold a market share of 52.6% by 2029, while the fiber segment is anticipated to grow at a CAGR of 5.0% during the forecast period.
The European region is expected to have a prominent market share of 27.7% in 2022, while the East Asia market is projected to expand at a CAGR of 7.1%.
Advancements in processing technology, including the increasing prominence of 3D printing, are driving market growth.
The thermoplastic tapes market is experiencing a 30 BPS surge in H1-2022 compared to H1-2021, and a 20 BPS increase in the projected H1-2022 outlook period.
The demand for thermoplastic tapes is driven by their damage resistance, strength, rigidity, flexibility, and recyclability, contributing to increased sustainability.

PAEK Resin Family Remain a Material of Choice

By thickness, thermoplastic tape of 0.21-0.40 mm is expected to hold prominent value share in the market. Although it remains the most common thickness range used in the end-use industries, manufacturers are likely to focus on offering varying range of thickness to sustain the demand for different applications.
On the basis of material, PAEK is a widely used resin family in thermoplastic tape, followed by polyamide resin. According to the manufacturers, high quality composites are formed when these materials are combined with carbon or glass fibers. However, the carbon-reinforced fiber provides more strength to thermoplastic tapes as compared to the glass-reinforced fiber.
By end-use industry, significant adoption by the automotive industry will continue to account for relatively high sales.

Report Benefits & Key Questions Answered
• Thermoplastic Tape Historical Market Analysis: The detailed survey by FMI, examines key factors in the Water Resistant Packaging market that affected the growth in the market for the last assessment period 2018–2022 and also studies their consequent impact. It also provides refined sales projection of the Water Thermoplastic Tape market for the forecast period 2023 to 2033
• Thermoplastic Tape Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Thermoplastic Tape for the assessment period. As per the study, the need for Thermoplastic Tape will grow at a robust CAGR between 2023 to 2033.
• Thermoplastic Tape Market Trend Analysis: The latest study by FMI on the Thermoplastic Tape market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.

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Thermoplastic Tapes Market By Category

By thickness: