Global Thermoplastic Tapes Market is valued approximately USD 73.5 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 29.4 % over the forecast period 2022-2028. Thermoplastic tape is a composite material that combines fibre and plastic characteristics. It’s a structurally important narrow-reinforced strip consisting of moldable polymer and reinforcing fibre.
The rising demand in electric vehicle components with growing demand for EV and increasing demand in the aerospace and defense sector due to its light weight has led the adoption of Thermoplastic Tapes over the forecast period. The Thermoplastic tapes are used in the electric vehicles for the battery-pack systems .
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For instance: As per the IEA Around 3 million electric cars were sold globally (a 4.6% sales share), and Europe overtook the People’s Republic of China (“China”) as the world’s largest electric vehicle (EV) market for the first time. Also increasing product development is likely to create significant opportunities for the Thermoplastic Tapes Market. However, fluctuation in raw material prices and stringent legal requirements by the governments impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the Global Thermoplastic Tapes Market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the increasing demand for lightweight components in the automobile, aerospace and defense sector. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2022-2028 due to Change in the consumption pattern of composite materials would create lucrative growth prospects for the Thermoplastic Tapes Market across Asia-Pacific region.
Major market player included in this report are:
MaruHachi Corporation
Evonik Industries AG
Toray Advanced Composites
Solvay S.A.
Mitsui Chemicals Inc.
Arkema S.A.
Teijin Limited
Covestro AG
Koninklijke DSM N.V.
Sabic Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Material:
Fiber
Resin
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By End Use:
Aerospace
Automotive
Building & Construction
Industrial Goods
Oil & Gas
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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