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UV Tapes Market Estimated to Grow at a CAGR of 6.8% During the Forecast Period 2022-2027

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UV Tapes Market Estimated to Grow at a CAGR of 6.8% During the Forecast Period 2022-2027

May 06
22:37 2022
UV Tapes Market Estimated to Grow at a CAGR of 6.8% During the Forecast Period 2022-2027
UV Tapes Market | IndustryARC
The growing Semiconductor Industry is anticipated to grow the demand for UV Tapes Market.

UV Tapes Market size is expected to reach a value of US$876 million by 2027 after growing at a CAGR of 6.8% during the forecast period 2022-2027. UV (Ultraviolet) tape is the adhesive tape that is ideal for the semiconductor process. It is suitable to protect the surface of a semiconductor wafer during the back grinding and dicing process. The increased demand for UV tapes such as polyester tape, acrylic foam tape, polyolefin acid-proof lining in the electronics industry is used for wafer dicing, back grinding, PCB grinding, and glass dicing applications. Rubber adhesives are ideal in various medical applications. UV tapes can withstand direct sunlight and large temperature fluctuations without losing their adhesive properties which are particularly suitable for outdoor building conditions. Thus, the growing electronics and semiconductor industries are expected to drive the UV tapes industry growth during the forecast period. UV tapes have exceptional strength, protection from weather and direct sunlight, adhesion properties which make them ideal for sealing radon membranes in buildings. This is one of the major factors that create an opportunity for building & construction of the UV tapes.

COVID-19 impact

During 2020-Q2 of 2021, the Covid-19 pandemic was at a peak, the production in the electronics industry was dropped which highly affected the market scenario which is hampering the UV tapes industry growath. UV tapes are widely used to prevent wafers from scratching and damaging surfaces during the fabrication, storage, and shipping of semiconductor wafers. However, the stopped production is hampering the market growth. According to the China Academy of Information and Communications Technology (CAICT), smartphone market sales dropped 10% in May 2020 to 32.6 million, and 16% in June 2020 to 27.7 million. Thus, the global UV tapes demand was hugely affected in terms of consumption due to the less production of electrical components which is limiting the market growth.

UV Tapes Market Segment Analysis – By Product Type

Polyolefin held the largest share of more than 35% in the UV tapes market in 2021. Polyolefin UV tapes are coated with acrylic foam tape. Polyolefins have superior performance such as superior flexibility, toughness, and long-lasting as compared to other alternatives such as polyvinylchloride. Polyolefin UV tapes are readily recyclable, have stronger adhesive strength, and have excellent durability in adverse atmospheric environments. Polyolefin UV tapes are mainly used for cellphone, LCDs, iPad, circuit board cutting protection, touch screen protection, and optical material delivery. Thus, the growing semiconductor components are also required polyolefins UV tapes for wafer dicing. According to the Semiconductor Industry Association (SIA), as of 2021, year-to-year the semiconductor’s sales increased in the Americas (33.5%), Europe (32.3%), Japan (24.5%), and China (24.0%). This will further drive the UV tapes industry.

For More Uv Tapes Market @

https://www.industryarc.com/Research/Uv-Tapes-Market-Research-504411

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UV Tapes Market Segment Analysis – By Type

The double-sided tape held the largest share of more than 50% in the UV tapes market in 2021. UV double-sided tapes are designed for processing wafer grinding, cutting of small parts, fine electronic components. Double-sided tape such as polyester tape provides high tensile strength and resistance to aging & temperature. Acrylic foam tape is also double-sided tape that provides various properties such as good heat resistance & chemical resistance and is excellent for die-cutting. UV tape such as acrylic foam tape has a high load-bearing ability, maintains a seal in high movement joints, has excellent thermal insulation properties, performs at a temperature between -40°F to 200°F which makes them ideal for fixing industrial & electronic components. Thus, the growing sales of electrical components are also growing the demand for double-sided UV tapes. According to the Semiconductor Industry Association (SIA), the worldwide sales of semiconductors reached $39.0 billion in October 2020, an increase of 6.0 % compared to the October 2019 total of $36.8 billion and 3.1 % more than the September 2020 total of $37.9 billion. This will further create growth for the UV tapes industry.

UV Tapes Market Segment Analysis – By Application

Electrical & Electronics held the largest share of more than 30% in the UV tapes market in the year 2021. UV tapes such as polyester tape, polyolefin tape, and polyphenylene terephthalate tape are used to manufacture integrated circuits which are used in smartphones, LEDs, LCDs, and other electronic devices. UV acrylic foam tape has excellent adhesive strength which is further anticipated to fuel the demand for UV tapes in the electrical & electronics industry. According to India Cellular and Electronics Association (ICEA), India is expected to reach a value of US$ 100 billion to manufacture laptops and tablets by 2025. UV tapes such as PVC tapes are used in air conditioners for pipe wrapping which provides such kind of protection as surface & moisture and has electrical insulation properties which increase demand for UV tapes in air conditioners. According to the International Energy Agency, in Europe, households that have an air conditioner were 115 million units in 2020, which is estimated to grow 167 million units by 2030 and 220 million units by 2040. Uv tapes are also used in electrical components for cable wrapping. Thus, companies are focusing on developing high-performance consumer goods which are also increasing the growth of electrical components, in turn, is anticipated to grow the demand for UV tapes. In 2020, Samsung launched its new Galaxy Tab Active3. In September 2020, Apple Inc. launched Apple Watch Series 6 (blood oxygen sensor) and Apple Watch SE, two iPad models, iPhone. Hence, the growing electronics industry is expected to propel the UV tapes industry growth.

UV Tapes Market Segment Analysis – By Geography

Asia Pacific region held the largest share of more than 35% in the UV tapes market size in the year 2021, due to the increasing demand from various end-use industries such as electrical & electronics in Asian countries such as India and China are estimated to grow the demand for UV tapes. According to the Consumer Electronics and Appliances Manufacturers Association (CEAMA) and consulting firm, the consumer electronics industry is expected to grow at a 9.5 % CAGR in 2021. According to the Electrical & Electronics Manufacturers Association, the Indian domestic electrical equipment market is expected to grow at an annual rate of 12% to reach US$72 billion by 2025. In India, 600 mobile units are produced every minute; thus, the electronics manufacturing industry has committed to reaching US$ 300 billion in revenue by 2025-2026. According to the International Energy Agency, in China, households that have an air conditioner were 730 million units in 2020, which is estimated to grow 1128 million units by 2030 and 1338 million units by 2040. Hence, these are hugely creating an opportunity for the UV tapes industry growth in the region.

UV Tapes Market Drivers

The growing Semiconductor Industry is anticipated to grow the demand for UV Tapes

The semiconductor wafers are laminated with UV tapes to prevent them from exposure to grinding fluids. UV tapes are based on polyester tape which is used during the dicing process, as it helps minimize chipping; thus, UV Tape is suitable to protect the surface of a semiconductor wafer during the back grinding process and to hold a semiconductor wafer with a ring frame during the dicing process. Hence, the increasing semiconductor industry is growing the demand for UV tapes. According to Indi-Asian News Service (IANS), the global Internet of Things semiconductor component market will grow at a compound annual growth rate of 19% from US$33 billion in 2020 to US$80 billion in 2025. According to National Investment Promotion and Facilitation Agency (NIPF), India’s share in global electronics manufacturing is anticipated to reach US$400 billion by 2025. According to the Semiconductor Industry Association (SIA) data, the worldwide sales of semiconductors touched US$41.8 billion in April 2021, an increase of 1.9% from the March 2021 total of US$41.0 21.7% more than the April 2020 total of $34.4 billion. World Semiconductor Trade Statistics (WSTS) forecast projects that the annual global sales will increase 19.7% in 2021 and 8.8% in 2022. Hence, all such factors are expected to drive the growth of the semiconductors market, which is further expected to increase the demand for the UV tapes market.

Robust Growth in Building and Construction Industry

UV tapes can withstand a long time in outdoor exposure and allow blue color for visual inspection & adhere to metals, plastics, and glass surfaces. UV tapes have excellent conformability and maintain a watertight seal. Additionally, UV tapes protect aluminum and vinyl windows and frames, window and door glass, garage door panels, painted metal roofing, and building panels, and aluminum extrusions. Thus, growth in the building industry is expected to augment the demand for UV tapes (based on acrylic foam tape and polyester tape). According to the National Bureau of Statistics, China’s real estate market investment jumped from 15.7% in 2019 to 38.3% in January-February 2021. According to the U.S. Census Bureau, building permits in the United States increased 0.3 percent to an adjusted annual rate of 1.76 million in April 2021 from 1.75 million in March 2021. According to the India Brand Equity Foundation (IBEF), the real estate sector of India will grow US$1 trillion by 2030 and Rs. 65,000 crore (US$ 9.30 billion) by 2040. In April 2021, The U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced the construction of 1.6 million houses, out of which 1.4 houses have been built. According to the Statics of South Africa, GDP from construction in South Africa increased to ZAR 82,047.74 million (US$5,018.95 million) in the fourth quarter of 2020 from ZAR 79,899.25 million (US$4,887.51 million) in the third quarter of 2020. According to the Saudi Contractors Authority (SCA), the construction market revenue in Saudi Arab anticipated to grow approximately 4% annually between 2020-2024. Hence, the globally increased building & construction industry is estimated to boost the demand for UV tapes.

Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=504411

UV Tapes Market Challenges

Polyvinyl Chloride Membrane Posses Health and Environmental Risk

UV tapes are based on polyvinyl chloride. Polyvinyl Chloride contains dangerous chemical additives including phthalates, lead, cadmium, and/or organotins which are hazardous chemicals for health. High exposure to polyvinyl chloride has increased the risk of liver cancer as well as brain and lung cancers, lymphoma, and leukemia. Polyvinyl chloride is toxic plastic that is dangerous to the environment. Hence, due to various health and environmental effects, the consumption of polyvinyl chloride for UV tapes may hamper the market growth.

UV Tapes Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in this market. UV Tapes top 10 companies include:

BASF SE

Henkel AG & Company

The Furukawa Electric Co. Ltd

Mitsui Chemicals Group

Nitto Denko Corporation

Lintec Corporation

Sumitomo Bakelite Co. Ltd.

AI Technology Inc.

Denka Company Limited

Ultron Systens Inc., and more.

Recent Developments

In July 2019, Henkel Corporation has announced to invest up to US$ 45 million to expand its operations in the Salisbury facility, including a new state-of-the-art production area for UV Acrylic Adhesives used in tapes and labels within the packaging and consumer goods industry.

Key Takeaways

Asia Pacific held the largest share in the UV tapes market owing to the growing demand from various end-use industries such as electrical & electronics and the building & construction sector.

According to the Semiconductor Industry Association (SIA), as of 2021, year-to-year sales of semiconductors are increased by 27.2% in Asia-Pacific.

Increasing adoption of polyolefins tape as it recyclable and have superior properties than polyvinyl chloride which is estimated to boost the consumption of polyolefins for UV tapes.

Relevant Report:

Unidirectional Tapes (UD Tapes) Market

https://www.industryarc.com/Research/Unidirectional-Tapes-Market-Research-500352

For more Chemicals and Materials related reports, please click here

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