Carbon Fiber Tape Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2019 - 2024

Report Code: CMR 42204 Report Format: PDF + Excel (Delivery in 48 Hrs)
Overview

Carbon Fiber Tape Market is forecast to reach $3.48 billion by 2025, after growing at a CAGR of 11.4% during 2020-2025. The carbon fiber tape is expected to grow at a significant rate due to its utilization in aircraft components owing to its superior properties such as high stiffness, abrasion, and strength. The rising demand for the carbon fiber tape in the manufacturing of aircraft structures including wing skins, wing spars, and access panels are likely to upsurge the market growth over the forecast period.

Key Takeaways
  • North America dominates the Carbon Fiber Tape market owing to presence of major aircraft manufacturers as well as well-established aerospace industry. 
  • Trend in automotive industry to reduce the weight of vehicle is boosting the growth of carbon fiber tape. 
  • The presence of established players, low cost, and stringent environmental regulations emphasizing on the use of lightweight composite materials are expected to drive the market.
Form- Segment Analysis

Prepreg held the largest share in the Carbon Fiber Tape market in 2019. Prepreg is the reinforcing fabric which has been pre-impregnated with a resin system.This resin system already includes the proper curing agent. The numerous advantages of prepreg such as its mechanical properties makes it more beneficial than using traditional hand layup. Nevertheless, to prevent being poisoned at room temperature, these tapes must be kept at about minus 20-degree Celsius.

Resin – Segment Analysis

Epoxy resin based tapes are likely to gain high market demand owing to its properties including high heat resistance, excellent electrical and mechanical properties.Epoxy offers improved adhesion, physical properties and high thickness.Also, it has fast curing time compared to other thermoset resins, which makes it the preferred choice among the end-use industries.

End Use- Segment Analysis

Aerospace Industryaccounts for the highest market share in the global market. The growth of carbon fiber tape in aerospace industry is anticipated due to trend of lightweight, strong and stiff materials in the aerospace industry. Currently, almost every aircraft is utilizing carbon reinforced materials including tapes in order to gain high strength and light weight which helps in operational activities. Rising investments in the aerospace and defense industry is expected to propel the industry growth. The evolving production technologies in the aerospace industry will further enhance the carbon fiber tape market. 

Geography- Segment Analysis

North America dominated the Carbon Fiber Tape market with a share of more than 40%, followed by Europe and Asia Pacific.Increasing utilization of high strength lightweight materials from the aerospace industry and presence of major players in North America is augmenting the market. According to International Trade Administration, in 2018, the industry contributed $151 billion in export sales to the U.S. economy.Investors in the U.S. aerospace industry are encouraged by the "gold standard" for aviation safety from the Federal Aviation Administration (FAA), which raises worldwide trust in the safety of aircraft and aircraft parts manufactured in the U.S.

Drivers – Carbon Fiber Tape Market
  • The growing Aerospace industry will fuel the Carbon Fiber Tape market. 
The aerospace industry is expected to be the worldwide carbon fiber tape market's fastest growing segment. This can be due to the increasing need for flexible materials that are stronger, stiffer, lighter, and damaging. The use of carbon fiber tapes is structurally and aerodynamically effective designs. Significant growth in R&D and increased production of commercial aircraft. Further, Significant growth in R&D and increased production of commercial aircraft. 

Challenges – Carbon Fiber Tape Market
  • The alternative material canrestrict the market growth
Steel Reinforced Polymer tapes used to strengthen externally bonded composite reinforcement are a relatively new material that is compatible with common organic fibers. SRP tapes are made from ultra-high strength steel wires that are embedded in cords and mounted into a fabric. The mechanical properties of SRP steel are comparable to those of other high carbon cold drawn steel by advanced processing.

Market Landscape

Technology launches,acquisitions and R&D activities are key strategies adopted by players in the Carbon Fiber Tape market. In 2019, the market of Carbon Fiber Tape has been consolidated by the top five players accounting for xx% of the share. Major players in the Carbon Fiber Tape Market are Zoltek Corporation, Royal TenCate, SGL Group, Hexcel Corporation, Mitsubishi Rayon Carbon Fibers and Composites, and Royal DSM, among others. 

Acquisitions/Technology Launches
  • In February 2019,Teijin Limited acquired Renegade Materials Corporation, supplier of highly heat-resistant thermoset prepreg for the aerospace industry. The acquisition will help Teijin Limited to reach wider markets. The acquisition will boost carbon fibers and intermediate materials large product lineup and global sales network.
1. Carbon Fiber Tape Market - Overview
        1.1 Definitions and Scope
2. Carbon Fiber Tape Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Carbon Fiber Tape Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Carbon Fiber Tape Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Carbon Fiber Tape Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Carbon Fiber Tape Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Carbon Fiber Tape Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Carbon Fiber Tape Market - By Form (Market Size -$Million / $Billion)
8.1 Prepreg Tape
8.2 Dry Tape
9. Carbon Fiber Tape Market - By Resin (Market Size -$Million / $Billion)
9.1 Epoxy
9.2 Polyamide
9.3 Bismaleimide
9.4 Thermoplastic Resin
9.5 Other Resins
9.5.1 Polyurethane Resin
9.5.2 Vinyl Ester
9.5.3 Polyester
10. Carbon Fiber Tape Market By End-Use Industry (Market Size -$Million / $Billion)
10.1 Aerospace
10.2 Marine
10.3 Pipe & Tank
10.4 Sporting Goods
10.5 Construction & Infrastructure
10.6 Others
10.6.1 Medical
10.6.2 Automotive
10.6.3 Wind Energy
11. Carbon Fiber Tape - By Manufacturing Process (Market Size -$Million / $Billion)
11.1 Hot Melt Process
11.2 Solvent Dip Process
12. Carbon Fiber Tape- By Geography (Market Size -$Million / $Billion)
        12.1 Carbon Fiber Tape Market - North America Segment Research
        12.2 North America Market Research (Million / $Billion)
            12.2.1 Segment type Size and Market Size Analysis
            12.2.2 Revenue and Trends
            12.2.3 Application Revenue and Trends by type of Application
            12.2.4 Company Revenue and Product Analysis
            12.2.5 North America Product type and Application Market Size
                  12.2.5.1 U.S
                  12.2.5.2 Canada
                  12.2.5.3 Mexico
                  12.2.5.4 Rest of North America
        12.3 Carbon Fiber Tape- South America Segment Research
        12.4 South America Market Research (Market Size -$Million / $Billion)
            12.4.1 Segment type Size and Market Size Analysis
            12.4.2 Revenue and Trends
            12.4.3 Application Revenue and Trends by type of Application
            12.4.4 Company Revenue and Product Analysis
            12.4.5 South America Product type and Application Market Size
                  12.4.5.1 Brazil
                  12.4.5.2 Venezuela
                  12.4.5.3 Argentina
                  12.4.5.4 Ecuador
                  12.4.5.5 Peru
                  12.4.5.6 Colombia
                  12.4.5.7 Costa Rica
                  12.4.5.8 Rest of South America
        12.5 Carbon Fiber Tape- Europe Segment Research
        12.6 Europe Market Research (Market Size -$Million / $Billion)
            12.6.1 Segment type Size and Market Size Analysis
            12.6.2 Revenue and Trends
            12.6.3 Application Revenue and Trends by type of Application
            12.6.4 Company Revenue and Product Analysis
            12.6.5 Europe Segment Product type and Application Market Size
                  12.6.5.1 U.K
                  12.6.5.2 Germany
                  12.6.5.3 Italy
                  12.6.5.4 France
                  12.6.5.5 Netherlands
                  12.6.5.6 Belgium
                  12.6.5.7 Denmark
                  12.6.5.8 Spain
                  12.6.5.9 Rest of Europe
        12.7 Carbon Fiber Tape - APAC Segment Research
        12.8 APAC Market Research (Market Size -$Million / $Billion)
            12.8.1 Segment type Size and Market Size Analysis
            12.8.2 Revenue and Trends
            12.8.3 Application Revenue and Trends by type of Application
            12.8.4 Company Revenue and Product Analysis
            12.8.5 APAC Segment - Product type and Application Market Size
                  12.8.5.1 China
                  12.8.5.2 Australia
                  12.8.5.3 Japan
                  12.8.5.4 South Korea
                  12.8.5.5 India
                  12.8.5.6 Taiwan
                  12.8.5.7 Malaysia
                  12.8.5.8 Hong kong
                  12.8.5.9 Rest of APAC
        12.9 Carbon Fiber Tape - Middle East Segment and Africa Segment Research
        12.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            12.10.1 Segment type Size and Market Size Analysis
            12.10.2 Revenue and Trend Analysis
            12.10.3 Application Revenue and Trends by type of Application
            12.10.4 Company Revenue and Product Analysis
            12.10.5 Middle East Segment Product type and Application Market Size
                  12.10.5.1 Israel
                  12.10.5.2 Saudi Arabia
                  12.10.5.3 UAE
            12.10.6 Africa Segment Analysis
                  12.10.6.1 South Africa
                  12.10.6.2 Rest of Middle East & Africa
13. Carbon Fiber Tape Market - Entropy
        13.1 New product launches
        13.2 M&A s, collaborations, JVs and partnerships
14. Carbon Fiber Tape Market - Industry / Segment Competition landscape Premium
        14.1 Market Share Analysis
            14.1.1 Market Share by Country- Top companies
            14.1.2 Market Share by Region- Top 10 companies
            14.1.3 Market Share by type of Application - Top 10 companies
            14.1.4 Market Share by type of Product / Product category- Top 10 companies
            14.1.5 Market Share at global level - Top 10 companies
            14.1.6 Best Practises for companies
15. Carbon Fiber Tape Market - Key Company List by Country Premium
16. Carbon Fiber Tape Market Company Analysis
16.1 Market Share, Company Revenue, Products, M&A, Developments
16.2 3M
16.3 BASF SE
16.4 Celanese Corporation
16.5 Chomarat
16.6 Cristex
16.7 Eurocarbon
16.8 Evonik Industries
16.9 Hexcel Corporation
16.10 Hughes Brothers
16.11 Mitsubishi Rayon Carbon Fiber & Composites
16.12 Other Key Players
16.13 Park Electrochemicals
16.14 PRF Composite Materials
16.15 Rock West Composite
16.16 Royal DSM
16.17 Royal Tencate
16.18 Saudi Basic Industries Corporation
16.19 SGL Group
16.20 Sigmatex
16.21 Siltex
16.22 Solvay
16.23 TCR Composites
16.24 Teijin Limited
16.25 Victrex
16.26 Zoltek Corporation
16.27 Company 26
16.28 Company 27 & More
*Financials would be provided on a best efforts basis for private companies
17. Carbon Fiber Tape Market - Appendix
        17.1 Abbreviations
        17.2 Sources
18. Carbon Fiber Tape Market - Methodology
        18.1 Research Methodology
            18.1.1 Company Expert Interviews
            18.1.2 Industry Databases
            18.1.3 Associations
            18.1.4 Company News
            18.1.5 Company Annual Reports
            18.1.6 Application Trends
            18.1.7 New Products and Product database
            18.1.8 Company Transcripts
            18.1.9 R&D Trends
            18.1.10 Key Opinion Leaders Interviews
            18.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Carbon Fiber Tape Market By Form Market 2019-2024 ($M)
2.Global Carbon Fiber Prepreg Tape Market By Resin Market 2019-2024 ($M)
2.1 Epoxy Market 2019-2024 ($M) - Global Industry Research
2.2 Polyamide Market 2019-2024 ($M) - Global Industry Research
2.3 Bismaleimide Market 2019-2024 ($M) - Global Industry Research
2.4 Thermoplastic Resin Market 2019-2024 ($M) - Global Industry Research
3.Global Carbon Fiber Prepreg Tape Market By Manufacturing Process Market 2019-2024 ($M)
3.1 Hot Melt Process Market 2019-2024 ($M) - Global Industry Research
3.2 Solvent Dip Process Market 2019-2024 ($M) - Global Industry Research
4.Global Carbon Fiber Tape Market By End-Use Industry Market 2019-2024 ($M)
4.1 Aerospace Market 2019-2024 ($M) - Global Industry Research
4.2 Marine Market 2019-2024 ($M) - Global Industry Research
4.3 Pipe & Tank Market 2019-2024 ($M) - Global Industry Research
4.4 Sporting Goods Market 2019-2024 ($M) - Global Industry Research
4.5 Construction & Infrastructure Market 2019-2024 ($M) - Global Industry Research
5.Global Carbon Fiber Tape Market By Form Market 2019-2024 (Volume/Units)
6.Global Carbon Fiber Prepreg Tape Market By Resin Market 2019-2024 (Volume/Units)
6.1 Epoxy Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 Polyamide Market 2019-2024 (Volume/Units) - Global Industry Research
6.3 Bismaleimide Market 2019-2024 (Volume/Units) - Global Industry Research
6.4 Thermoplastic Resin Market 2019-2024 (Volume/Units) - Global Industry Research
7.Global Carbon Fiber Prepreg Tape Market By Manufacturing Process Market 2019-2024 (Volume/Units)
7.1 Hot Melt Process Market 2019-2024 (Volume/Units) - Global Industry Research
7.2 Solvent Dip Process Market 2019-2024 (Volume/Units) - Global Industry Research
8.Global Carbon Fiber Tape Market By End-Use Industry Market 2019-2024 (Volume/Units)
8.1 Aerospace Market 2019-2024 (Volume/Units) - Global Industry Research
8.2 Marine Market 2019-2024 (Volume/Units) - Global Industry Research
8.3 Pipe & Tank Market 2019-2024 (Volume/Units) - Global Industry Research
8.4 Sporting Goods Market 2019-2024 (Volume/Units) - Global Industry Research
8.5 Construction & Infrastructure Market 2019-2024 (Volume/Units) - Global Industry Research
9.North America Carbon Fiber Tape Market By Form Market 2019-2024 ($M)
10.North America Carbon Fiber Prepreg Tape Market By Resin Market 2019-2024 ($M)
10.1 Epoxy Market 2019-2024 ($M) - Regional Industry Research
10.2 Polyamide Market 2019-2024 ($M) - Regional Industry Research
10.3 Bismaleimide Market 2019-2024 ($M) - Regional Industry Research
10.4 Thermoplastic Resin Market 2019-2024 ($M) - Regional Industry Research
11.North America Carbon Fiber Prepreg Tape Market By Manufacturing Process Market 2019-2024 ($M)
11.1 Hot Melt Process Market 2019-2024 ($M) - Regional Industry Research
11.2 Solvent Dip Process Market 2019-2024 ($M) - Regional Industry Research
12.North America Carbon Fiber Tape Market By End-Use Industry Market 2019-2024 ($M)
12.1 Aerospace Market 2019-2024 ($M) - Regional Industry Research
12.2 Marine Market 2019-2024 ($M) - Regional Industry Research
12.3 Pipe & Tank Market 2019-2024 ($M) - Regional Industry Research
12.4 Sporting Goods Market 2019-2024 ($M) - Regional Industry Research
12.5 Construction & Infrastructure Market 2019-2024 ($M) - Regional Industry Research
13.South America Carbon Fiber Tape Market By Form Market 2019-2024 ($M)
14.South America Carbon Fiber Prepreg Tape Market By Resin Market 2019-2024 ($M)
14.1 Epoxy Market 2019-2024 ($M) - Regional Industry Research
14.2 Polyamide Market 2019-2024 ($M) - Regional Industry Research
14.3 Bismaleimide Market 2019-2024 ($M) - Regional Industry Research
14.4 Thermoplastic Resin Market 2019-2024 ($M) - Regional Industry Research
15.South America Carbon Fiber Prepreg Tape Market By Manufacturing Process Market 2019-2024 ($M)
15.1 Hot Melt Process Market 2019-2024 ($M) - Regional Industry Research
15.2 Solvent Dip Process Market 2019-2024 ($M) - Regional Industry Research
16.South America Carbon Fiber Tape Market By End-Use Industry Market 2019-2024 ($M)
16.1 Aerospace Market 2019-2024 ($M) - Regional Industry Research
16.2 Marine Market 2019-2024 ($M) - Regional Industry Research
16.3 Pipe & Tank Market 2019-2024 ($M) - Regional Industry Research
16.4 Sporting Goods Market 2019-2024 ($M) - Regional Industry Research
16.5 Construction & Infrastructure Market 2019-2024 ($M) - Regional Industry Research
17.Europe Carbon Fiber Tape Market By Form Market 2019-2024 ($M)
18.Europe Carbon Fiber Prepreg Tape Market By Resin Market 2019-2024 ($M)
18.1 Epoxy Market 2019-2024 ($M) - Regional Industry Research
18.2 Polyamide Market 2019-2024 ($M) - Regional Industry Research
18.3 Bismaleimide Market 2019-2024 ($M) - Regional Industry Research
18.4 Thermoplastic Resin Market 2019-2024 ($M) - Regional Industry Research
19.Europe Carbon Fiber Prepreg Tape Market By Manufacturing Process Market 2019-2024 ($M)
19.1 Hot Melt Process Market 2019-2024 ($M) - Regional Industry Research
19.2 Solvent Dip Process Market 2019-2024 ($M) - Regional Industry Research
20.Europe Carbon Fiber Tape Market By End-Use Industry Market 2019-2024 ($M)
20.1 Aerospace Market 2019-2024 ($M) - Regional Industry Research
20.2 Marine Market 2019-2024 ($M) - Regional Industry Research
20.3 Pipe & Tank Market 2019-2024 ($M) - Regional Industry Research
20.4 Sporting Goods Market 2019-2024 ($M) - Regional Industry Research
20.5 Construction & Infrastructure Market 2019-2024 ($M) - Regional Industry Research
21.APAC Carbon Fiber Tape Market By Form Market 2019-2024 ($M)
22.APAC Carbon Fiber Prepreg Tape Market By Resin Market 2019-2024 ($M)
22.1 Epoxy Market 2019-2024 ($M) - Regional Industry Research
22.2 Polyamide Market 2019-2024 ($M) - Regional Industry Research
22.3 Bismaleimide Market 2019-2024 ($M) - Regional Industry Research
22.4 Thermoplastic Resin Market 2019-2024 ($M) - Regional Industry Research
23.APAC Carbon Fiber Prepreg Tape Market By Manufacturing Process Market 2019-2024 ($M)
23.1 Hot Melt Process Market 2019-2024 ($M) - Regional Industry Research
23.2 Solvent Dip Process Market 2019-2024 ($M) - Regional Industry Research
24.APAC Carbon Fiber Tape Market By End-Use Industry Market 2019-2024 ($M)
24.1 Aerospace Market 2019-2024 ($M) - Regional Industry Research
24.2 Marine Market 2019-2024 ($M) - Regional Industry Research
24.3 Pipe & Tank Market 2019-2024 ($M) - Regional Industry Research
24.4 Sporting Goods Market 2019-2024 ($M) - Regional Industry Research
24.5 Construction & Infrastructure Market 2019-2024 ($M) - Regional Industry Research
25.MENA Carbon Fiber Tape Market By Form Market 2019-2024 ($M)
26.MENA Carbon Fiber Prepreg Tape Market By Resin Market 2019-2024 ($M)
26.1 Epoxy Market 2019-2024 ($M) - Regional Industry Research
26.2 Polyamide Market 2019-2024 ($M) - Regional Industry Research
26.3 Bismaleimide Market 2019-2024 ($M) - Regional Industry Research
26.4 Thermoplastic Resin Market 2019-2024 ($M) - Regional Industry Research
27.MENA Carbon Fiber Prepreg Tape Market By Manufacturing Process Market 2019-2024 ($M)
27.1 Hot Melt Process Market 2019-2024 ($M) - Regional Industry Research
27.2 Solvent Dip Process Market 2019-2024 ($M) - Regional Industry Research
28.MENA Carbon Fiber Tape Market By End-Use Industry Market 2019-2024 ($M)
28.1 Aerospace Market 2019-2024 ($M) - Regional Industry Research
28.2 Marine Market 2019-2024 ($M) - Regional Industry Research
28.3 Pipe & Tank Market 2019-2024 ($M) - Regional Industry Research
28.4 Sporting Goods Market 2019-2024 ($M) - Regional Industry Research
28.5 Construction & Infrastructure Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
2.Canada Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
3.Mexico Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
4.Brazil Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
5.Argentina Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
6.Peru Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
7.Colombia Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
8.Chile Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
9.Rest of South America Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
10.UK Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
11.Germany Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
12.France Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
13.Italy Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
14.Spain Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
15.Rest of Europe Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
16.China Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
17.India Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
18.Japan Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
19.South Korea Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
20.South Africa Carbon Fiber Tape Market Revenue, 2019-2024 ($M)
21.North America Carbon Fiber Tape By Application
22.South America Carbon Fiber Tape By Application
23.Europe Carbon Fiber Tape By Application
24.APAC Carbon Fiber Tape By Application
25.MENA Carbon Fiber Tape By Application
26.Royal Tencate, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Saudi Basic Industries Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Evonik Industries, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Zoltek Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Solvay, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Mitsubishi Rayon Carbon Fiber & Composites, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Hexcel Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Teijin Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.SGL Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Royal DSM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.3M, Sales /Revenue, 2015-2018 ($Mn/$Bn)