The thermoplastic tapes market is projected to grow from USD 2.7 billion in 2023 to USD 4.4 billion by 2028, at a CAGR of 10.5% during the forecast period. Thermoplastic tape is a composite comprising properties of fibers and plastics (resins). These tapes are impregnated with various thermoplastic resins, including PAEK, PPS, PC, PA, PET, TPU, and others. Thermoplastic tapes are used in various industries, including aerospace & defense, automotive & transportation, oil & gas, medical & healthcare, construction, and sports equipment manufacturing. The increasing demand for thermoplastic tapes in these industries is projected to fuel market development in the upcoming years.
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Major manufacturers in this market are based in North America and Europe. Toray Industries, Inc. (Japan), Teijin Limited (Japan), SGL Carbon (Germany), Hexcel Corporation (US), Solvay(Belgium), Evonik Industries AG(Germany), BASF SE (Germany) are among a few leading players operating in the thermoplastic tapes market. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the thermoplastic tape market further.
Toray Industries Inc. (Japan)
Toray Industries, Inc.(Japan) is a multinational corporation headquartered in Tokyo, Japan. It operates in various industries, including aerospace & defense, automotive & transportation, healthcare, energy, sports equipment, and consumer products. Toray Industries is known for its innovative products and solutions across different sectors.
Toray Industries offers thermoplastic composite tapes through its subsidiary, Toray Advanced Composites. Carbon fiber material composite segment. . It has manufacturing and research facilities in North America, Latin America, Europe, Africa, Asia, and other regions.
Teijin Limited (Japan)
Teijin Limited offers advanced solutions for automotive & transportation, aerospace & defense, healthcare, electronics, energy and industrial. The company provides thermoplastic tapes through its subsdidiary, Toho Tenax. Teijin operates through the materials business field, healthcare, fiber & products converting, IT business, and other segments. The company has a geographical presence in Europe, North America, and Asia Pacific.
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Solvay is one of the leading players in the plastics and chemical business worldwide. It provides carbon fiber tape products through its subsidiary, Cytec Industries Inc. It primarily develops, manufactures, and sells products for the agro feed & food, automotive & aerospace, building & construction, customer goods & healthcare, electrical & electronics, energy & environment, and industrial applications. The company manages its operations through Materials, Chemicals, Solutions, and Corporate & Business services. It offers UD tapes under the brand Evolite. It has a wide global presence in North America, Europe, Latin America, and Asia Pacific.
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