Global aerospace tapes market to reach USD 3.48 billion by 2033 with 3.96% CAGR growth

From GlobeNewswire: 2024-08-12 03:00:00

The Global Aerospace Tapes Market is projected to grow from USD 2.36 billion in 2023 to USD 3.48 billion by 2033, with a CAGR of 3.96% during the forecast period. Aerospace tapes are crucial in various industries, including general aviation, commercial aviation, and military aircraft, driving the demand for lightweight materials to improve fuel economy. Manufacturers are moving towards eco-friendly materials due to increased environmental awareness.

The acrylic segment is set to dominate the aerospace tapes market, known for its superior adherence properties. Paper/tissue tapes are expected to witness the fastest CAGR growth, offering environmental benefits and high heat insulation. Commercial aviation holds a significant share of the market demand for aerospace tapes, driven by the need for fuel-efficient solutions and effective adhesion for different aircraft parts.

North America is expected to lead the global aerospace tapes market, with a well-regulated industry advocating for the efficiency and promotion of aerospace tapes. In contrast, Europe is poised for significant growth due to the region’s large aerospace industry and the demand for airplane production and maintenance. Key players in the market include 3M Company, Avery Dennison Corporation, and Nitto Denko Corporation, among others.

Recent developments in the market include collaborations between Hexcel and Arkema to produce high-performance composite structures using thermoplastic tapes, showcasing advancements in aerospace tape technology. Market segmentation includes types, materials, end-users, and regions, offering insights into revenue forecasts for the period 2020-2033. The aerospace tapes market is driven by the need for lightweight solutions, fuel efficiency, and environmental sustainability in the aviation industry.



Read more at GlobeNewswire: Global Aerospace Tapes Market Size To Exceed USD 3.48