Hope Tribune

Evonik Industries (Germany) and SABIC (Saudi Arabia) are the Most Prominent Players in the Unidirectional Tapes (UD Tapes) Market

 Breaking News
  • No posts were found

Evonik Industries (Germany) and SABIC (Saudi Arabia) are the Most Prominent Players in the Unidirectional Tapes (UD Tapes) Market

October 14
08:41 2020
Evonik Industries (Germany) and SABIC (Saudi Arabia) are the Most Prominent Players in the Unidirectional Tapes (UD Tapes) Market

Browse 93 market data Tables and 49 Figures spread through 175 Pages and in-depth TOC on “Unidirectional Tapes (UD Tapes) Market”
Unidirectional Tapes (UD Tapes) Market by Fiber Type (Glass, Carbon), Resin (Thermoplastic, Thermoset), End-use Industry (Aerospace & Defense, Automotive, Sports & Leisure), and Region (North America, Europe, Asia Pacific)

The unidirectional tapes (UD Tapes) market is estimated at USD 145.3 million in 2017 and is projected to reach USD 316.3 million by 2023, at a CAGR of 13.79%. There has been wide acceptance of UD tapes in various industries such as aerospace & defense, automotive, sports & leisure, which is expected to drive the market. The increasing use of UD tapes in primary & secondary structures of commercial aircraft and the high demand for commercial aircraft are driving the UD tapes market in the aerospace industry.

To know about the assumptions considered for the study, download the pdf brochure

North America is also the fastest-growing market and is projected to register the highest CAGR during the forecast period, owing to the increasing demand from end-use industries such as aerospace & defense, automotive, and sports & leisure. The useful properties offered by UD tapes, such as high strength, stiffness, and width tolerance, and high rigidity, make it an ideal material for use as reinforcement in the mentioned end-use industries.

Leading global companies are shifting their production facilities, establishing sales offices, and expanding their distribution channel to regions, such as China, India, and Southeast Asia, to ensure sustainable demand and increase their market share. The gradual shift of manufacturing facilities to countries having high demand and lower production cost is positively influencing the market growth.

Major players operating in the UD tapes market include Toray Industries, Inc. (Japan), SABIC (Saudi Arabia), Evonik Industries (Germany), Hexcel Corporation (US), SGL Group (Germany), Teijin Limited (Japan).

Evonik Industries engages in the specialty chemicals business, globally. The company operates through four business segments, namely, resource efficiency, nutrition & care, performance materials, and services. It primarily manufactures specialty chemicals for applications in the animal nutrition, consumer goods, and healthcare sectors. Evonik Industries manufactures UD tape VESTAPE, which offers good mechanical properties, reduced thermal expansion, low shrinkage, and can withstand the highest loading requirements. In February 2017, Evonik Industries introduced endless fiber-reinforced UD tapes under the VESTAPE brand. The company is manufacturing both glass and UD tapes using polyamide 12 and specialty high-temperature polyamides.

SABIC is a diversified chemical company. The company operates through three main segments, namely, chemicals, metals, and agro-nutrients. It has a strong customer base and operates in many countries of Europe, North America, APAC, South America, and the Middle East. UD tapes are manufactured by SABIC’s Fiber Reinforced Thermoplastics (FRT) business. It is a SABIC affiliate company based in the Netherlands. The company manufactures UD tapes under UDMAX brand. In March 2018, SABIC introduced UDMAX GPE 46–70 tape, expanding the portfolio of UDMAX UD fiber-reinforced thermoplastic composite tape products.

Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=262388356

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. 

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. 

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/unidirectional-tape-market-262388356.html