Carbon Fiber Tapes Market- How to Leverage on Food & Beverages Industry During COVID-19 Crisis?
The global carbon fiber tapes market size is expected to reach USD 4,855.6 million
by 2027, exhibiting a CAGR of 13.4% during the forecast period. The growing
utilization of carbon fiber in various industries due to its high tensile
strength and electrical conductivity will spur opportunities for the market,
states Fortune Business Insights, in a report, titled “Carbon
Fiber Tapes Market Size, Share & COVID-19 Impact Analysis, By Form (Dry
Tapes, and Prepreg Tapes), By Resin (Epoxy, Polyamide, Bismaleimide, Thermoplastic,
and Others), By End-use (Aerospace & Defense, Automotive, Sports/Leisure,
Building & Construction, and Others), and Regional Forecast, 2020-2027.” The
market size stood at USD 1,918.6 million in 2019.
The coronavirus
outbreak has affected numerous industries across the globe. The governments of
several countries have instigated lockdown to thwart the spread of this deadly
virus. Such plans have caused disturbances in the production and supply chain.
But, with time and resolution, we will be able to combat this stern time and
get back to normality. Our well-revised reports will help companies to receive
in-depth information about the present scenario of every market so that you can
adopt the necessary strategies accordingly.
Market
Driver
Heavy
Demand for Carbon Fiber from Automotive Industry to Facilitate Growth
The growing use of
carbon fiber (CF) in structural and semi-structural components of vehicles
during automobile production will foster the healthy growth of the market. The
increasing adoption of carbon fiber in automobile manufacturing will have a
tremendous impact on the market. For instance, the BMW i3 is produced using
carbon-fiber-reinforced plastic. The ongoing research and development for
efficient component production with carbon fiber will spur opportunities for
the market.
The cognizance about
renewable carbon fiber and composites will escalate its adoption in the
automotive industry. For instance, the lightweight property of carbon fiber
leads to energy reductions and fuel savings. Besides, the increasing
application of CF in hybrid vehicles will spur business opportunities for the
global market.
Devastating
Impact on Aviation Industry to Thwart Market During COVID-19
The aviation industry
has witnessed a disturbing effect because of the coronavirus. The restriction
in import and export activities has resulted in huge losses for the industry.
The sudden drop in revenue and minimal production will limit carbon fiber supply
across countries. However, the implementation of damage control strategies by
major companies will help to curb the effects of coronavirus in the coming
days.
Regional
Analysis:
Flourishing
Aerospace industry to Bolster Growth in North America
The market size in
North America stood at USD 690.7 million in 2019 and is expected to grow
rapidly during the forecast period owing to the presence of major players in
the region. The booming aerospace & defense industry is expected to spur
opportunities for the market in the region. The growing demand for carbon fiber
in various end-use industries will further aid the expansion of the market in
the region. Europe is expected to experience a rapid growth rate during the
forecast period owing to the well-established automotive industry. The growing
shift from conventional metal parts to lower weight and high strength carbon
fiber materials will create opportunities for the market in Europe.
Browse
Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/carbon-fiber-tapes-market-104055
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