UV Tape Market: Global Industry Analysis and Forecast (2022-2029) by Type, Product, Application, and Region

UV Tape Market size was valued at USD 1.02 Bn. in 2021 and the total UV Tape revenue is expected to grow at a CAGR of 7.4% from 2022 to 2029, reaching nearly USD 1.81 Bn.
UV Tape Market Overview:
UV Tape is the sticky tape used in the semiconductor manufacturing process. It is appropriate for protecting the surface of the semiconductor wafer during back grinding and holding the semiconductor wafer with a ring frame during dicing. It is also suited to a wide range of workpieces, including ceramics, glass, sapphire, and so on. UV Tapes are also utilized in wafer dicing, PCB grinding, and glass dicing applications. Thanks to its applications, the demand for different UV tapes in the electronics sector, such as polyester tape, acrylic foam tape, and polyolefin acid-proof lining is rapidly increasing and is expected to drive the global UV tape market during the forecast period.

Rubber adhesives are useful for a variety of medical applications. UV tapes can tolerate direct sunlight and considerable temperature variations without losing their adhesive characteristics, making them ideal for outdoor building environments. As a result, the increasing electronics and semiconductor industries are expected to drive the UV tape market growth throughout the forecast period. UV tapes offer great strength, resistance to weather and direct sunshine, and adhesive qualities, making them perfect for sealing radon membranes in buildings. This is one of the key factors that create an opportunity for the development and manufacturing of UV tapes and increases the UV tape market revenue size.

In addition, increased investment in building infrastructure in countries such as the United States, China, Japan, Mexico, and India has resulted in significant growth in the building & construction sector, where UV tape is widely used for flooring, indoor and outdoor applications, mounting walls, and roofing applications. Besides that, sustained economic growth combined with an increase in consumer goods demand has resulted in a significant increase in demand for UV tape, which is widely used for UV and moisture protection applications in underhood parts, engine components, the interior of containers, and storage vessels. These factors are expected to contribute to global UV tape market growth during the forecast period.

However, stringent government rules and regulations on polyolefin, PVC, and PET-based UV tape-based UV tape products might restrain the market global UV tape market growth. Also, price fluctuations in UV tape are expected to have a negative impact on market growth. In addition, the rising use of Polyvinyl Chloride based UV Tapes poses various health and environmental risks. These factors are expected to restrain the growth of the UV tape market during the forecast period.

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UV Tape Market Dynamics:
Growing Semiconductor Industry increases the demand for UV tape

To protect the semiconductor wafers from grinding fluids, they are laminated with UV tapes. UV tapes are based on polyester tape, which is utilized during the dicing process to assist decrease chipping; consequently, UV tape is appropriate to protect the surface of a semiconductor wafer during back grinding and to hold a semiconductor wafer with a ring frame during the dicing process. As a result, the rising semiconductor industries are boosting demand for UV tapes and driving the UV tape market during the forecast period. The global Internet of Things semiconductor component market is expected to grow at a CAGR of 19% from US$33 billion in 2020 to US$80 billion in 2025, according to Indi-Asian News Service (IANS).

The National Investment Promotion and Facilitation Agency (NIPF) estimates that India's contribution to global electronics manufacturing would reach $400 billion by 2025. According to Semiconductor Industry Association (SIA) figures, global semiconductor sales reached $41.8 billion in April 2021, up 1.9% from the March 2021 total of $41.0 billion and 21.7% higher than the April 2020 total of $34.4 billion. According to World Semiconductor Trade Statistics (WSTS), yearly global sales would rise by 19.7% in 2021 and 8.8% in 2022. As a result, all of these factors are expected to drive the growth of the semiconductors industry, which is expected to increase demand for the UV tape market.

High Growth in Building and Construction sector

Thanks to its advantages, such as UV tapes can withstand a prolonged period of outdoor exposure and allowing blue color for visual inspection, adhere to metals, plastics, and glass surfaces, have excellent conformability, and maintain a watertight seal, the demand for UV tapes rapidly increasing from building and construction sectors. UV tapes also protect aluminum and vinyl windows and frames, window and door glass, garage door panels, painted metal roofs, building panels, and aluminum extrusions from the elements. As a result, growth in the building industry is expected to boost the growth for UV tapes (based on acrylic foam tape and polyester tape) and drives the UV tape market revenue growth during the forecast period.

China's real estate market investment increased from 15.7% in 2019 to 38.3% in January-February 2021, according to the National Bureau of Statistics. Building permits in the United States climbed by 0.3 percent to an adjusted annual rate of 1.76 million in April 2021, up from 1.75 million in March 2021, according to the United States Census Bureau. According to the India Brand Equity Foundation (IBEF), India's real estate market would be worth $1 trillion by 2030 and Rs. 65,000 crores (US$ 9.30 billion) by 2040. The United States Census Bureau and the United States Department of Housing and Urban Development announced in April 2021 the building of 1.6 million dwellings, of which 1.4 million have been built.

GDP from construction in South Africa climbed 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 South African statistics. According to the Saudi Contractors Authority (SCA), the Saudi construction industry income is expected to grow at a 4% yearly rate between 2020 and 2024. As a result, the rapidly growing global building and construction sector is expected to increase demand for UV tapes and drive the UV tape market during the forecast period.

Health and Environmental Risks associated with Polyvinyl Chlorides based UV tapes

UV tapes are based on polyvinyl chloride. UV tapes based on polyvinyl chloride are widely used in packaging, home furnishings, children's toys, vehicle components, building materials, hospital supplies, and a variety of other things. Its benefits include being very adaptable and reasonably affordable. Polyvinyl chloride includes toxic chemical additions such as phthalates, lead, cadmium, and/or organotins, which are harmful to one's health. Polyvinyl chloride has been linked to an increased risk of liver cancer, as well as brain and lung malignancies, lymphoma, and leukemia. Polyvinyl chloride is hazardous to the environment poisonous material. As a consequence of the various health and environmental impacts, the use of polyvinyl chloride in UV tapes may restrict the UV tape market growth.
UV Tape Market Segment Analysis:
Based on Application, the Electricals & Electronics segment dominated the global UV tape market with the highest share in terms of both value and volume in 2021. The segment is further expected to grow at a CAGR of 6.8% and maintain its dominance at the end of the forecast period. The technological development in the consumer electronics, and semiconductor industry and growing demand for electronics-based gadgets drive the UV tape market. UV tapes are widely utilized in etching and cleaning applications in semiconductor manufacturing and processing technologies. This is expected to increase the demand for UV tape in semiconductor applications. The rapid commercialization of nano-based gadgets has also increased the market potential for etching tapes. As a result, the increasing use of semiconductors and integrated chips in the fabrication of electrical components has driven the UV tape market for various types of UV tape throughout the forecast period.

UV tapes like polyester tape, polyolefin tape, and polyphenylene terephthalate tape are used to make integrated circuits for smartphones, LEDs, LCDs, and other electronic devices. The increased need for semiconductors in LCD and LED displays has increased the adoption of PET, PVC, and polyolefin-based UV tapes. UV acrylic foam tape has a high adhesive strength, which is expected to increase demand for UV tapes in the electrical and electronics industries and drive the global UV tape market revenue growth.

According to the India Cellular and Electronics Association (ICEA), India is expected to acquire a value of US$ 100 billion in laptop and tablet manufacturing by 2025. UV tapes, such as PVC tapes, are used in air conditioners for pipe wrapping, which provides surface and moisture protection as well as electrical insulating capabilities, increasing demand for UV tapes in air conditioners. According to the International Energy Agency, there were 115 million air conditioners in European households in 2020, with an expected increase to 167 million units by 2030 and 220 million units by 2040. As a result, rising demand for UV tapes from India is expected to drive the UV tape market during the forecast period.

UV tapes are also utilized in electrical components to wrap cables. As a result, key manufacturers are focused on manufacturing high-performance consumer goods, which is driving the growth of electrical components, which is expected to increase the demand for UV tapes and drive the revenue growth of the UV tape market during the forecast period. Samsung will release the redesigned Galaxy Tab Active3 in 2022. Apple Inc. will release the Apple Watch Series 6 (blood oxygen sensor) and Apple Watch SE, as well as two iPad models and the iPhone, in September 2022. As a result, the increasing electronics sector is expected to drive the growth of the UV tape market.
UV Tape Market Regional Insights:
Asia Pacific region held the largest share of 42% and dominated the global UV tape market in 2021. The region is further expected to grow at a CAGR of 7.2% during the forecast period. UV tape consumption is expected to increase in the region due to increased demand from various end-use sectors such as electrical and electronics in Asian economies such as India and China during the forecast period. The consumer electronics market is expected to grow at the highest CAGR by 2029, according to the Consumer Electronics and Appliances Manufacturers Association (CEAMA) and a consulting company.

The Indian household electrical equipment industry is expected to grow at a 12.5% annual rate to US$72 billion by 2025, according to the Electrical & Electronics Manufacturers Association. In India, 600 mobile units are manufactured per minute; as a result, the electronics manufacturing industry has committed to generating a turnover of US$ 300 billion by 2025-2026. According to the International Energy Agency, there were 730 million air conditioners in Chinese households in 2020, with an expected increase of 1128 million units by 2030 and 1338 million units by 2040. As a result, there is a significant opportunity for the growth of the UV tape market in the region.

The China market is expected to dominate the Asia-Pacific UV Tape market at the end of the forecast period. The steady recovery of China's real estate and automobile industries, the rapid development of prefabricated buildings, and the demand for "Internal Circulation" such as new energy (photovoltaic and wind power) and 5G consumer electronics would also drive the rapid growth of domestic industrial adhesive products such as UV tapes and increase the UV tape market's revenue growth during the forecast period. International circulation, the Belt and Road Initiative, and carbon neutrality would promote consumer adhesive product exports. China's adhesive market is expected to grow significantly by 2029.

The North American market is expected to grow at a CAGR of 6.85% during the forecast period. The growing electronics industry and awareness regarding the advantages of UV tapes such as high heat resistance is expected to be the primary growth driver for the North American UV tape market during the forecast period. In addition, the fact that they can be recycled is also expected to play a key role in the growth of this region. The U.S. region is expected to dominate the North American UV TAPE market at the end of the forecast period. The dominance is attributed to the high growth of the various end-user industries in the region, rising the demand for UV tapes. Europe is expected to grow at a moderate rate during the forecast period since the market in the majority of the region's countries is developed. However, with rising semiconductor and electronics sectors, Germany and France are expected to have considerable growth opportunities for the UV tape market during the forecast period.
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UV Tape Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 1.02 Bn.


Forecast Period 2022 to 2029 CAGR:
7.4%
Market Size in 2029:
US $ 1.81 Bn.


 Segments Covered:
by Type
• Polyolefin (PO)
• Polyvinyl Chloride (PVC)
• Polyethylene Terephthalate (PET)
• Other


by Product
• Foamed tapes
• Non-foamed tapes
• Thermally Conductive tapes
• Flame Retardant tapes
• Universal tapes
• Other


by Application
• Automotive
• Building & Construction
• Aerospace
• Electricals & Electronics
• Others



UV Tape Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
UV Tape Market Key Players are:
• BASF SE
• Henkel AG & Company
• Sumitomo Bakelite Co. Ltd.
• NEPTCO
• Denka
• Hitachi Chemical
• S3 Alliance
• Minitron
• Dou Yee
• QES
• Furukawa Electric
• LINTEC
• Sumitomo Bakelite
• AI Technology
• NPMT
• Semiconductor Equipment
• Nitto
• Mitsui Chemicals, Inc.
• Sumitomo Bakelite Co. Ltd.
• Ultron Systems, Inc.
• Minitron Electronic GmbH
• Load point Limited
• Lintec Corporation
• Nitto Denko Corporation
• NEPTCO, Inc.
• Teraoka Seisakusho Co., Ltd.

FAQs:

1. What are the growth drivers for the UV Tape market?
Ans. The increasing electronics and semiconductor industries increased investment in building infrastructure in countries such as the United States, China, Japan, Mexico, and India are expected to be the major driver for the UV Tape market.

2. What is the major restraint for the UV Tape market growth?
Ans. The stringent government rules and regulations on polyolefin, PVC, and PET-based UV tape-based UV tape products, and price fluctuations in UV tape are expected to be the major restraining factor for the UV Tape market growth.

3. Which region is expected to lead the global UV Tape market during the forecast period?
Ans. The Asia-Pacific market is expected to lead the global UV Tape market during the forecast period due to the increased demand from various end-use sectors such as electrical and electronics in Asian economies such as India and China.

4. What is the projected market size & growth rate of the UV Tape Market?
Ans. The UV Tape Market size was valued at USD 1.02 Bn. in 2021 and the total UV Tape revenue is expected to grow at a CAGR of 7.4% from 2022 to 2029, reaching nearly USD 1.81 Bn.

5. What segments are covered in the UV Tape Market report?
Ans. The segments covered in the UV Tape market report are Type, Product, Application, and Region.