Unidirectional Tapes (UD Tapes) Market - Industry Analysis, Forecast, and Growth Opportunity.

The Global Unidirectional Tapes (UD Tapes) Market: Highlights
Unidirectionaltapes consist of endless fibers orientated in one direction embedded into thermoset or thermoplastic polymer matrix. The global UD tapes market is likely to witness an impressive CAGR of 13.1 % over the next five years, driven by a host of factors including organic growth of the aerospace and defense, automotive, and sports & leisure industries coupled with increasing composite penetration in the structural and semi-structural sections, excellent mechanical performance, and lightweight as compared to rivals including steel and aluminum. UD tapes are gaining traction in all the major end-use industries: aerospace & defense, automotive, and sporting goods. 
Global Unidirectional Tapes (UD Tapes) Market - Insights by Fiber type
The UD tapes market is segmented based on the fiber type as Glass Fiber UD Tapes, Carbon Fiber UD Tapes, and Other UD Tapes. The glass fiber segment is estimated to account for the largest share of the UD tapes market in 2018 and is projected to remain the most dominant segment over the next five years. Glass fiber is a low-cost option and offers an excellent price-performance ratio to most of the end-use industries including aerospace & defense, automotive, and sporting goods. Additionally, glass fiber UD tapes offer excellent corrosion resistance and are easy to process.
Carbon fiber UD tape, a relatively small segment, is likely to exhibit the highest growth  during the same period, driven by an increasing demand for lightweight materials in aerospace & defense and automotive industries. Carbon fiber is lighter in weight as compared to other fibers including glass fiber as well as competing metals including aluminum and steel. Carbon fiber UD tape is gaining traction in the aerospace & defense and sporting goods industries.
Global Unidirectional Tapes (UD Tapes) Market - Insights by Resin type
Based on the resin type, the UD tapes market is bifurcated into Thermoset UD tapes and Thermoplastic UP tapes. Thermoplastic UP tape is likely to remain the most dominant segment during the forecast period. Most of the aerospace interior components, such as floor panels, seat frames, and luggage bins, are started manufacturing with thermoplastic UD tapes. Thermoplastic UD tapes offer a wide array of benefits such as higher strength-to-weight ratio, excellent toughness, moisture absorption resistance, and ability to survive under high-temperature conditions. They are preferably used in almost all major end-use industries including aerospace & defense and sporting goods. Also, most of the major UD tape manufacturers are primarily manufacturing thermoplastic UD manufacturers. 
Global Unidirectional Tapes (UD Tapes) Market - Insights by End-use- Indusrty type
Based on the end-use industry type, the global UD tapes market is segmented into Aerospace & Defense, Automotive, Sporting Goods, and Others. The aerospace and defense were estimated to hold the largest share of the UD tapes market in 2017 and is expected to remain the largest segment during the forecast period. UD tapes bring numerous advantages, such as lightweight, higher strength-to-weight ratio, and excellent corrosion resistance, over their traditional counterparts including aluminum and steel. Composite materials have a disruptive journey of more than five decades in the aerospace industry where the penetration of materials escalated from merely 4% to more than 50% in the next-generation aircraft. UD tapes also witnessed an increased penetration in various section of an aircraft including interior components, such as seat frames. Additionally, there has been a sustainable demand for new aircraft to support the rising passenger traffic. For instance; Boeing anticipated that there will be a total delivery of 41,030 commercial aircraft during 2017-2036. This expected increase in aircraft delivery will majorly be driven by demand from the developing economies of the region, such as Asia-Pacific, South America, and Africa, which, in turn, is estimated to drive the demand for UD tapes in the segment.
The automotive industry, another considerable segment, is likely to be the fastest-growing segment of the market during the same period. Premium vehicles and electric vehicles are likely to procure UP tapes most in the segment in the coming years. Stringent government regulations regarding fuel efficiency enhancement and carbon emission reductions, such as CAFÉ standards, are likely to drive the demand for lightweight materials including UP tapes in the segment in the coming years.
Global Unidirectional Tapes (UD Tapes) Market - Insights by Region
Based on the regions, North America is projected to remain the most dominant market during the forecast period of 2018 to 2023. The region is the manufacturing hub of the aerospace industry with the presence of all major aircraft OEMs as well as tier players. Further, major UD manufacturers are headquartered in the region to support the emergent needs of the OEMs. Boeing is the largest procurer of UD tapes in the region.
Europe and Asia-Pacific, other major regions, are also likely to exhibit excellent growth rates in the coming years, driven by a host of factors. The continuous increase in the production rates of A320 family along with new variants and A350XWB is the prime growth driver of the demand for UD tapes in the European region.
Similarly, high demand for commercial and regional aircraft in Asia-Pacific is stimulating the aircraft OEMs to open their assembly plants in the region, especially China. Both, Airbus and Boeing, are opening assembly plants of their best-selling aircraft models in the country. Concurrently, the local players are also developing aircraft to meet the huge local demand. For instance; COMAC is developing C919 narrow-body aircraft in China, whereas Mitsubishi is developing MRJ regional aircraft in Japan. Additionally, a continuous shift of sporting goods manufacturing from the developed region to China and Taiwan is creating an additional opportunity for UD tape manufacturers in the region.
The supply chain of this market comprises raw material suppliers, UD tape manufacturers, tier players, aircraft OEMs, airlines, and leasing companies. The key UD tape manufacturers are Evonik Industries, SABIC, Hexcel Corporation, TenCate, Teijin Limited, Celanese Corporation and BASF. Changing market dynamics and competitive landscapes are compelling the market players to keep advancing their materials and work closely with tier players to address their emergent market requirements. Advancement in resin system, collaborations with tier players and OEMs, and execution of mergers and acquisitions are the key strategies adopted by the key players to gain a competitive edge in the market.

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