New York, United States , Aug. 12, 2024 (GLOBE NEWSWIRE) -- The Global Aerospace Tapes Market Size Expected to Grow from USD 2.36 Billion in 2023 to USD 3.48 Billion by 2033, at a CAGR of 3.96% during the forecast period 2023-2033.
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Aerospace tapes are used in a wide range of end-use industries, such as general aviation, commercial aviation, and military aircraft. They are made of several resins, including silicone, rubber, and acrylic. The market for lightweight materials is driven by the aircraft industry's ongoing search for fuel economy and lower operating costs, and aerospace tapes stand out as a vital solution in this regard. The market is significantly influenced by lightweight aerospace tapes since they reduce fuel consumption by lowering the combined weight of aircraft parts. As part of worldwide attempts to reduce the aviation industry's harmful environmental effects, aerospace tape manufacturers are getting closer to introducing eco-friendly materials and production methods. Because of policies that promote environmentally friendly flying, as well as consumer demand for tapes with sustainable properties, the market for aircraft cassettes has expanded and changed. However, it takes a significant investment in research and development to integrate cutting-edge adhesive technologies and materials that meet industry standards. These outrageous costs could have an impact on manufacturers' profit margins and create barriers to entry for smaller businesses.
Browse key industry insights spread across 200 pages with 100 Market data tables and figures & charts from the report on the "Global Aerospace Tapes Market Size, Share, and COVID-19 Impact Analysis, By Type (Acrylic, Rubber, Silicone), By Material (Paper/Tissue, Film, Foam), By End- User (Commercial Aviation, Military Aviation, General Aviation), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The acrylic segment is expected to hold the largest share of the aerospace tapes market during the anticipation timeframe.
Based on the type, the aerospace tapes market is categorized into acrylic, rubber, and silicone. Among these, the acrylic segment is expected to hold the largest share of the global aerospace tapes market during the anticipation timeframe. Acrylic aerospace tapes are widely utilized in the aerospace sector because of their exceptional adherence. They are used to seal carpet, flooring, and galley mats in airplanes and to prevent erosion of paint, surfaces, and leading edges of aircraft, propellers, de-icer systems, and helicopter rotors.
The paper/tissue segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the material, the aerospace tapes market is categorized into paper/tissue, film, and foam. Among these, the paper/tissue segment is expected to grow at the fastest CAGR during the anticipation timeframe. These environmentally friendly tapes are available in a range of hues. Paper tapes offer a strong grip, are heat-insulated, and resistant to temperature changes. Their relative thinness, flexibility, and smoothness make them perfect for use in the manufacture of airplanes.
The commercial aviation segment is expected to hold a significant share of the aerospace tapes market during the anticipation timeframe.
Based on the end user, the aerospace tapes market is categorized into commercial aviation, military aviation, and general aviation. Among these, the commercial aviation segment is expected to hold a significant share of the aerospace tapes market during the anticipation timeframe. Aerospace tapes are more in demand in the commercial aviation sector than in the military and general aviation sectors. Consequently, the commercial aviation end-use sector segment is leading the aerospace tapes market.
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North America is projected to hold the largest share of the global aerospace tapes market over the anticipation timeframe.
North America is projected to hold the largest share of the global aerospace tapes market over the anticipation timeframe. The aerospace industry in North America is highly regulated, which is crucial for monitoring the efficiency and promotion of aerospace tapes. Aerospace is one of the primary industries in Mexico, therefore although while the country's market for aerospace cassettes is not as large as that of the US or Canada, it is nonetheless growing swiftly.
Europe is expected to grow at the fastest CAGR growth of the global aerospace tapes market during the anticipation timeframe. The European aerospace industry is quite large, with well-known companies such as Airbus and Rolls-Royce, as well as many smaller manufacturers and suppliers. The increase in airplane production and maintenance has a direct effect on the need for aerospace tapes.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global aerospace tapes market are 3M Company, Advance Tapes International Limited, Avery Dennison Corporation, Berry Global Inc., Compagnie De Saint-Gobain S.A., DeWAL Industries, Inc., Intertape Polymer Group Inc., Nitto Denko Corporation, H.B. Fuller Company, Scapa Group Ltd, and others.
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Recent Developments
- In March 2024, Hexcel and Arkema presented a CFRTP aeronautical demonstrator at HAICoPAS. The project witnessed the optimization of the design and fabrication of UD composite tapes reinforced with a PEKK matrix using a continuous in-situ welding (ISW) assembly process. Hexcel and Arkema established a strategic partnership and collaborated to develop and manufacture a demonstration of an aeronautical high-performance composite structure using HexPly thermoplastic tapes.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global aerospace tapes market based on the below-mentioned segments:
Global Aerospace Tapes Market, By Type
- Acrylic
- Rubber
- Silicone
Global Aerospace Tapes Market, By Material
- Paper/Tissue
- Film
- Foam
Global Aerospace Tapes Market, By End User
- Commercial Aviation
- Military Aviation
- General Aviation
Global Aerospace Tapes Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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