UV Tapes Market by Global Demand, Trends, Applications, Sales, Industry Size and Forecast

UV tapes provide a high adhesion strength. When exposed to UV light, this strength reduces significantly, allowing for clean and easy removal after fulfilling its purpose.  Stellar expansion of the consumer electronics industry has ushered in an era of miniaturization of technology. This has paved way for the development of highly sophisticated information technology tools requiring usage of semiconductors. As a result, the usage of UV tapes has experienced a significant propulsion in recent years. UV tapes temporarily protect semiconductor wafers from surface damage. These tapes are generally manufactured using polyethylene terephthalate (PET), polyvinyl chloride (PVC) or polyolefin (PO).

In addition, UV tapes are highly resistant to heat, environmentally friendly and offer excellent setting time when exposed to UV light. In light of such benefits and applications, the global UV tape market is anticipated to register a value of US$ 437.9 Mn by the end of 2020. The ongoing coronavirus pandemic has only served to heighten market prospects for UV tapes, attributed to increasing usage of ICT tools by individuals and companies to conduct their daily businesses in the wake of nationwide lockdowns, prompting organizations to issue mandatory work-from-home directives. As internet penetration increases on a daily basis, the number of devices used to access it is mushrooming, prompting UV tape manufacturers to accelerate their production to cater to the demand from end-use industries.

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Anticipated Impact of the Coronavirus Outbreak

The coronavirus pandemic has provided significant traction to the UV tapes market. Although, in the initial phases, supply chain disruptions as a result of curbs on transportation and logistics generated significant gaps in the demand-supply equilibrium. As countries worldwide have been relaxing lockdowns, manufacturing units are experiencing a resurgence due to resumption of production cycles. Against this backdrop, the UV tapes market is poised to soar in the future.

Since its declaration as a pandemic by the World Health Organization, the coronavirus disease has compelled businesses to provide remote working arrangements for their employees. These arrangements required organizations to invest significantly in providing enhanced internet connectivity as well as access to their intranet. For this, people need access to adequate ICT tools such as laptops, personal computers, tablets or smartphones, increasing their sales across online platforms.

The proliferating sales of ICT devices has motivated hardware companies to produce more devices and semiconductors, ultimately pushing up demand for UV-tapes. Eventually, the market will continue riding the high-wave. This is because in the post-pandemic scenario, remote working shall become the new normal. Employees will no longer be required to travel to their office premises as most of the work will be done sitting at home. Therefore, increasing investments in enhancement of information technology platforms is expected to beckon the global UV tapes market forward.

"The scope for UV tapes market appears especially bright across emerging economies such as India and China, owing to increased usage of information technology devices in the wake of growing internet penetration. Additionally, leading multinational corporations are intensifying their investments in the region across various industrial and non-industrial businesses which exhaustively use technology to streamline their operations. This has pushed up sales of ICT devices, leveraging UV tapes production," concludes a leading FMI analyst.

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Global UV Tapes Market- Key Takeaways

Asia-Pacific generated the highest demand for UV tapes between 2015 and 2020. Booming semiconductor industries across Mainland China and Taiwan due to favorable government policies have augured demand for the region.
PET and PO-based UV tapes shall tower over PVC-based ones, credited to their easy recyclability and compliance with environmental standards.
Wafer-dicing UV tapes accounted for nearly half of the market during the forecast period. However, it shall lose 60 BPS by 2020 due to surging popularity of other types of tapes.
Global UV tapes market expanded at a CAGR of ~10% from 2015-2020.

Global UV Tapes Market- Prominent Drivers

Growing awareness about the benefits of UV-tapes has accelerated their usage in optoelectric components, particularly for manufacturing camera lenses.
Availability of cheap labor, technology and raw-materials in emerging economies is encouraging market players to establish their businesses in these countries, expanding revenue pool of the UV-tapes market.

Global UV Tapes Market- Key Restraints

High costs of UV-tapes is anticipated to discourage end-users from purchasing them and would instead opt of cheaper alternatives, limiting prospects for expansion.
Comparatively lesser costs of non-UV tapes is accelerating their usage, hindering usage of UV-tapes.

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Competition Landscape

The global UV tapes market is characterized by the presence of the following market players: Nitto Denko Corporation, Lintec Chemicals, Furukawa Electric Co., Ltd., Sumitomo Bakelite Co Ltd and Mitsui Chemicals. The raw material suppliers include Henkel AG & Company, Dow Chemical Co and BASF SE. The abovementioned market players primarily concentrate on organic as well as inorganic growth strategies to acquire a greater foothold in the global landscape. These strategies include product launches, patent and product approvals, acquisitions, mergers, partnerships and collaborations with other players. Additionally, these players are also concentrating on leveraging their supply chains to cater to the increased demand for semiconductor chips in the wake of rising demand for ICT devices.

Market segmentation

The next section of the report analyses the market based on applications and presents the forecast in terms of value for the next five years.

Applications covered in the report include:

Wafer dicing
Back-grinding
Others (PCB grinding, glass dicing, etc.)

The next section of the report analyses the market based on product type and presents the forecast in terms value for the next five years.

Product types covered in the report include:

Polyolefin
Polyvinyl chloride
Polyethylene terephthalate
Others (include phenolic films)

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.