Global Thermal Release Tapes Market: Increasing Demand from Semiconductor and Electronic Industry to Warrant Growth

Among various adhesive tapes used in the industrial sector, thermal release tapes hold high importance in the manufacturing of electronic components. It is especially used during engineering of semiconductors. In a report, titled “Thermal Release Tapes Market - Global Industry Analysis, Size, Share, Growth, Trend, and Forecast 2016 – 2024,” Transparency Market Research (TMR) gauges opportunities existing for the market, factoring growth drivers and key restraints. The report also presents insights regarding its potential trajectory between 2016 and 2024.

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Thermal release tapes are functional in room temperature and can be peeled off simply by heating. Their primary characteristic of tape removal without damaging the commodity is the reason their increasing use in semiconductor and electronic propelling. Considering the attractive opportunities, very soon the global thermal release tapes market is expected to spawn into a multi-million dollar industry.

Over the last decade, the electronic industry has witnessed two-fold growth and the trend is unlikely subside in the near future. Growth witnessed by the industry is primarily attributed to the increasing use of semiconductor in the electronic equipment sector. This leads to high use of thermal release tapes indicative of the market’s promising future.

In addition, increasing competition in industries such as automotive, construction, aviation, and electronics has compelled manufacturers to keep their production cost and run time low. While this creates the demand for optimum utilization of available resources, such trends and tripping points also expand scope for the use of thermal release tapes. Moreover, rising urbanization, digitization, and spending ability of consumer will aid the global thermal release tapes market register exponential growth during the course of the forecast period.

Regionally, Asia Pacific is showing the strongest opportunities for the market’s growth. The increasing production of electronics in India and China to cater to the rising demand for the same is expected to boost the demand for thermal release tapes in the country. Furthermore, China is likely to account for over 70% of the total semiconductor foundries in the world, thereby emerging as one of the most lucrative markets for thermal release tapes. Experts also foresee India as the next best destination for semiconductor foundries, which is expected to create attractive sales opportunities.

Growth in developed regions such as Europe and North America will however remain sluggish. With BREXIT, the overall electronics industry in the region is likely to get affected, the thermal release tapes market is not immune from the same.

Besides gauging opportunities for the market over the course of the forecast period, the report also presents a detailed assessment of its vendor landscape. Some of the most prominent enterprises operating in the global thermal release tapes market are 3M, Huizhou King Bali Technology Co., Ltd., ABBA Applied Technology Corporation, Dongguan Haixiang Adhesive Products Co., Ltd., Chip Hua Equipment & Tools Pte Ltd., and others.

About TMR

TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.