The global thermoplastic tape market is expected to grow at a CAGR of 5.4% over forecast period 2020 to 2027 and poised to reach around US$ 2,718.3 Mn by 2027.
Thermoplastic tape refers to the composite that combines properties of fibers and plastics. This is highly flexible at average temperature but gets harden when the material is heated and cooled off again. This transformation is caused by the plastic impregnation of the thermoplastic tape, which creates homogenous liquid while heating and forms polymer links while cooling down resulting in the hardened composite element. The properties of the tape include flexible placement before curing, great strength and rigidity after curing, easy to store and quick to apply, and a high degree of recyclability.
The benefits associated with the thermoplastic tape such as easily shaped and re-shaped, recyclability and sustainability, immense strength, damage & temperature-resistant, and rigidity while being flexible are some of the factors supporting the market value. The increasing usage in various industry application particularly in automotive is supporting the market growth. The increasing demand in the aerospace sector to make spacecraft reusable and long lasting is projected to create potential opportunities over the forecast period from 2020 to 2027.
On the other side, the limitation of thermoplastic tape use in high-temperature applications because it gets soften at high temperatures is expected to limit the growth to an extent over the estimated period from 2020 to 2027.
By end-use industry, industrial goods segment accounted for the major share in the market
In 2019, the industrial goods segment accounted for the major share in the global thermoplastic tape market. The companies are seeking light-weighted, cost-effective and durable packaging solutions to meet increasing consumer demand. Additionally, increasing disposable income coupled with increasing production of industrial goods is further supporting the segmental growth.
The automotive segment is projected to exhibit the fastest growth over the estimated period from 2020 to 2026
Increasing demand for lightweight vehicles is primarily supporting the demand for thermoplastic tape in the automotive sector. The rapidly increasing demand for electric vehicles due to increasing environmental concern with the combustion engine is expected to favor segmental growth over the forecast period. The segment is also gaining growth due to increasing usage in automotive interiors, and exteriors because cohesive bonding and form-locking of continuous fiber-reinforced thermoplastic tapes enhance stiffness and durability.
The market research study on “Thermoplastic Tape Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global Thermoplastic Tape market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global Thermoplastic Tape market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Thermoplastic Tape market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The Thermoplastic Tape market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
Asia Pacific is anticipated to register fastest growth over the estimated period
The emerging economies of the region including China and India are contributing to the fastest growth of the regional market. The ongoing industrialization coupled with the increasing purchasing power of residents is accelerating the market value. Additionally, the automotive industry is experiencing high growth in the regional market is further supporting the market value.
The players profiled in the report include Arkema Group, CompTape, Covestro AG, DSM Engineering Plastics, Evonik Industries, Maru Hachi Corporation, Mitsui Chemicals Group, Polyone Corporation, Sabic Corporation, SGL Carbon SE, Solvay S.A, Suprem SA, TEIJIN LIMITED, TOPOLO, Toray Industries Inc. The major players are involve in strategic development and R&D activities to take advantage of available opportunity in the market.
Market By Thickness
0.21 mm-0.40 mm
> 0.40 mm
Market By Material
Market By End-use Industry
Building & Construction
Oil & Gas
Market By Geography
Middle East & Africa
The market for thermoplastic tape is expected to reach the market value of around US$ 2,718.3 Mn by 2027.
The thermoplastic tape market is expected to grow at a CAGR of around 5.4% from 2020 to 2027.
The industrial goods segment is leading the global thermoplastic tape market with a major share.
The benefits associated with the thermoplastic tape such as easily shaped and re-shaped, recyclability and sustainability, immense strength, damage & temperature-resistant, and rigidity while being flexible, increasing usage in various industrial applications particularly in automotive are some of the factors driving the global thermoplastic tape market.
Arkema Group, CompTape, Covestro AG, DSM Engineering Plastics, Evonik Industries, Maru Hachi Corporation, Mitsui Chemicals Group, Polyone Corporation, Sabic Corporation, SGL Carbon SE, Solvay S.A, Suprem SA, TEIJIN LIMITED, TOPOLO, Toray Industries Inc. are the major players in the global thermoplastic tape market.
Asia Pacific is expected to register the fastest growth over the estimated period from 2020 to 2027.
Thermoplastic tape refers to the composite that combines properties of fibers and plastics.