Electronic Assembly Is Fueling The Growth Of The Uv Tapes Market

 

The global UV Tapes Market is estimated to be valued at US$ 564 Mn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
UV tapes are pressure-sensitive adhesive tapes that are cured and bonded on substrates with exposure to ultraviolet light. They offer advantages such as moisture resistance, thermal stability, and durability. They are widely used in the electronic assembly industry for bonding of various surface mounted device components.

Market key trends:
One of the major trends in the UV tapes market is its increasing usage in the electronic assembly industry. UV tapes help in automated circuit board assembly processes as they don't leave any adhesive residues during removal. They provide a strong, uniform and residue-free bond which helps in miniaturization of various electronic devices. The growth of smartphones and wearable devices industries are driving the demand for UV tapes from PCB manufacturers. Furthermore, development of UV LED technology that emits UV light in a narrow wavelength range has enabled production of UV tapes that can be cured instantly and precisely at localized areas.

Segment Analysis
The global UV tapes market is segmented by type, material, end-use industry, and region. Based on type, the market is divided into double-sided and regular. Among these, the double-sided segment accounts for the major share in the market and is expected to remain a dominating segment during the forecast period. Double-sided UV tapes provide durability and are more preferable for use in various industries like automotive, electrical & electronics, healthcare, etc. This is the key factor promoting the growth of double-sided UV tapes segment.

Key Takeaways
The global UV tapes market is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period, due to increasing demand from automotive, healthcare, and transportation industries. UV tapes are widely used in sealing, bonding, and protective masking applications in these industries.

Asia Pacific holds the major share in the global UV tapes market and is projected to remain the fastest growing as well as dominating regional market during the forecast period. This is attributed to massive growth of automotive and consumer electronics industries in countries like China, India, Japan, and South Korea. The demand for UV tapes is high in these industries.

Key players operating in the UV tapes market are Furukawa Electric Co. Ltd, Nitto Denko Corporation, Mitsui Chemicals Group, Lintec Corporation, Sumitomo Bakelite Co. Ltd., Henkel AG & Co. KGaA and BASF SE. The highly competitive nature of the market is prompting companies to invest in new product launches and expand their regional footprint to gain market share.

Comments

Post a Comment

Popular posts from this blog

Blowing Agents in Action: Enhancing Sustainability and Performance in Modern Engineering

Image
  Blowing Agents: Unleashing the Power of Expansion in Materials Blowing agents are a remarkable class of chemical compounds that play a pivotal role in various industries, revolutionizing the way materials are manufactured and utilized. These agents are essential additives employed to induce controlled expansion in materials, leading to the creation of diverse products with unique properties and applications. From lightweight foams in packaging to insulating materials and beyond, blowing agents have become indispensable in modern manufacturing processes. 1. Understanding Blowing Agents: Blowing agents are substances designed to generate gas when subjected to specific conditions, such as heat, pressure, or chemical reactions. The produced gas forms bubbles within the material matrix, resulting in a cellular structure with reduced density. This cellular structure not only imparts lightness to the material but also enhances its thermal and acoustic insulation properties. 2. Versatile Ap
Read more

Multi-Depth Corrugated Box Market Trends 2023 - Industry Insights, Competition Analysis, Growth Rate and Forecast by 2030

Image
  A multi-depth corrugated box is a type of shipping or storage box that has the ability to be adjusted to different depths, allowing for greater flexibility and efficiency in packaging and shipping. This type of box is made of corrugated cardboard, which consists of a fluted layer sandwiched between two flat layers. Multi-depth corrugated boxes are typically made with a series of perforations or scores that allow the box to be easily adjusted to different depths. For example, a box with a height of 10 inches might have perforations at 2-inch intervals, allowing it to be adjusted to a depth of 2 inches, 4 inches, 6 inches, 8 inches, or 10 inches, depending on the specific needs of the user. The advantages of using multi-depth corrugated boxes include reduced inventory costs, improved packing efficiency, and better use of storage space. By using a single box that can be adjusted to different depths, businesses can reduce the number of different box sizes they need to stock and simplify
Read more

Distributed Generation Market 2023, In-depth Forecast and Size Estimation, Highlights Growth, CAGR Status, and Revenue till 2030

Image
  Distributed generation refers to the generation of electricity from multiple small-scale power sources located near the end-users or within the electricity distribution system, as opposed to relying solely on large centralized power plants. It is also known as decentralized generation or on-site generation. In a traditional electricity system, power is generated at centralized power plants, transmitted over long distances through the transmission grid, and then distributed to consumers through the distribution grid. In a distributed generation system, however, electricity is generated closer to the point of consumption, reducing the need for extensive transmission and distribution infrastructure. Distributed generation can involve various technologies, including: • Solar Photovoltaic (PV) Systems: These systems convert sunlight directly into electricity using solar panels. •Wind Turbines: Small-scale wind turbines can be installed to harness wind energy and generate electricity. • C
Read more