UV Tapes Market Projected to reach US$ 437.9 Mn by 2020
These tapes are generally thinner as compared to other tapes, which vary from between 70 to 150 micrometers. UV tapes market are subset of PSA tapes market and are estimated to represent less than 1% share in terms of revenue in overall PSA tapes market. Global UV tapes market is projected to exhibit a CAGR of 9.3% to reach US$ 437.9 Mn by the end of forecast period 2020.
Drivers & Trends
Increase in demand for consumer electronics, coupled with miniaturization of electronic devices is driving the demand for semiconductors that leads to growing demand for UV tapes. Also, with growing awareness about benefits of UV tapes over non-UV tapes, it is finding its usage in optoelectronic components primarily for production of camera lenses. Strong distribution network in Asia Pacific is another key driving factor for its increasing popularity in Asia Pacific. Though, the demand for UV tapes is increasing among semiconductor manufacturers, it is facing stiff challenges from non UV tapes. Non-UV tapes are comparatively cost-effective when compared to UV tapes.
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Additionally, abundant availability of man-power, raw materials, and advance technology infrastructure is offering favorable climate for global players to invest in China. Government of China has formulated some key policies in 2014 to attract global players to invest in semiconductor market of China. It is set to boost the market in China. UV tapes China is expected to witness significant increase in its market revenue by the end of forecast period, 2020. Growing application in back grinding process, increasing adoption of other raw materials in UV tapes and increasing use of additional layers in UV tapes are some of the key trends effecting UV tapes market globally.
Analysis by Region
Globally, Asia Pacific is expected to hold market dominance throughout the forecast period and is projected to account for 5.4X higher revenue than North America by the end of 2020. Increasing demand for consumer durables in Asia Pacific along with improving conditions of semiconductors production post economic recession is expected to boost the demand for UV tapes in Asia Pacific. Among Asia Pacific region, Taiwan is projected to hold its market dominance throughout the forecast period. It is projected to account for 12.5X higher revenue when compared to Rest of Asia, and 10.9 higher revenue than Rest of world by the end of forecast period. Taiwan accounts for 22% of global semiconductor material spending in 2013. Some of the large scale semiconductor foundries such as Taiwan Semiconductor Manufacturing Company Ltd., UMC, Powerchip are located in Taiwan, which is expected to further drive the UV tapes market in Taiwan.
North America is the second most prominent market for UV tapes, however, is projected to register lowest CAGR than other regions. Europe is projected to witness 1.1X higher CAGR than North America. Though Eurozone is reeling under economic slowdown, its purchasing Managers’ Index (PMI) for the manufacturing sector witnessed market witnessed modest growth of 24.4 Mn in 2014, thereby offering good market prospects for UV tapes manufacturers in the near future. The U.K., Germany, and Spain are expected to be the largest consumers for UV tapes in the region.
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In terms of revenue, Rest of Asia is not as lucrative as other regions, primarily due to lack of semiconductor fab in this region. Majority of the revenue in UV tapes is expected to come from Brazil and Israel.
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