Global UV Tape Market Report 2023: Sector is Expected to Reach $880.49 Million by 2028 at a CAGR of 7.22%

Dublin, June 19, 2023 (GLOBE NEWSWIRE) -- The "Global UV Tape Market 2023-2028 by Product, Applications, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global UV Tape Market is estimated to be USD 621.36 Mn in 2023 and is expected to reach USD 880.49 Mn by 2028, growing at a CAGR of 7.22%.

The UV tape market is primarily driven by the increasing demand for high-performance semiconductor devices that require advanced packaging technologies. Additionally, the growth of the semiconductor industry and investments in research and development activities are expected to boost the UV tape market.

The demand for UV tapes in the semiconductor industry is driven by their crucial role as a semiconductor manufacturing adhesive tape. These tapes are widely used to hold semiconductor wafers with a ring frame during the dicing process and to protect the wafer surface during the backgrounding process.

However, the high cost of UV tapes is projected to hinder their adoption in various end-user industries, which may limit the growth of the UV tape market. Despite their excellent adhesion properties, the demand for UV tapes can be affected by their cost, particularly in some end-user industries.

On the other hand, there are opportunities for the UV tape market in countries such as the U.S., China, Japan, Mexico, and India, where investments in building infrastructure have led to significant growth in the building & construction sector. UV tapes are used for various applications in this sector, including flooring, indoor and outdoor applications, mounting walls, and roofing applications.

However, the market also faces challenges related to the removal and disposal of UV tapes. Due to the composition of UV tapes, which typically include polymers and adhesives activated by exposure to ultraviolet light, proper disposal methods are crucial to prevent the release of harmful chemicals into the environment. Improper handling and disposal of UV tapes can result in environmental contamination through the leaching of toxic or hazardous materials into soil or water.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global UV Tape Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global UV Tape Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global UV Tape Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Key Attributes:

Market Dynamics

Drivers

• Growing Demand for Semiconductor Goods
• Rising Awareness Regarding UV Tapes Across Emerging Countries

Restraints

• The High Cost of the UV Tapes

Opportunities

• Rising Adoption of PO and PET as Carrier Over PVC
• Rise in Investments in Building Infrastructure in Countries

Challenges

• Rising Technological Advancements Leading to the Development of Alternative Solutions
• Increasing Concerns about the Environmental Impact of UV Tapes
• Challenges Associated with the Removal and Disposal

Companies Mentioned

• 3M Co.
• AI Technology Inc.
• BASF SE
• Denka Co. Ltd.
• DuPont de Nemours Inc.
• Furukawa Electric Co. Ltd.
• H.B. Fuller Co.
• Hitachi Chemical Co. Ltd.
• LG Chem Ltd.
• Lintec Corp.
• Loadpoint Ltd.
• Minitron Electronic GmbH
• Mitsui Chemicals Tohcello, Inc.
• NEPTCO Inc.
• Nitto Denko Corp.
• Scapa Group PLC
• Sumitomo Bakelite Co. Ltd.
• Tesa SE
• Ultron Systens Inc.

Market Segmentation

The Global UV Tape Market is segmented based on Product, Applications, and Geography.

• By Product, the market for UV tapes is classified into three main types: Polyethylene Terephthalate, Polyolefin, and Polyvinyl Chloride. Among these, UV tapes based on polyvinyl chloride are widely used in various applications such as packaging, home furnishings, children's toys, vehicle components, building materials, and hospital supplies, among others. Polyvinyl chloride UV tapes are known for their adaptability and affordability. However, it's important to note that polyvinyl chloride contains toxic chemical additives like phthalates, lead, cadmium, and/or organotin, which can be harmful to human health. Studies have linked polyvinyl chloride to an increased risk of liver cancer, as well as brain and lung malignancies, lymphoma, and leukemia.
• By Applications, The UV tape market is classified into four main segments: Electronics & Semiconductors, Automotive, Flexographic Printing, and Building & Construction. Among these, the electronics and semiconductors segment has emerged as the dominant player, capturing the highest share in terms of both value and volume. This is primarily attributed to the technological advancements in the consumer electronics and semiconductor industry, as well as the growing demand for electronic gadgets, which are driving the demand for UV tapes. UV tapes are extensively used in etching and cleaning applications in semiconductor manufacturing and processing technologies.
• By Geography, The UV tape market is classified into four main regions: the Americas, Europe, the Middle East & Africa, and Asia-Pacific. Among these, Asia-Pacific has emerged as the largest market for UV tapes. The key market trend in the Asia-Pacific region is the increasing utilization of UV tapes in sectors such as semiconductors, electronics, IC packaging, and others. The growing demand for semiconductors and components such as ICs and display units has fueled the industry in this region, particularly in China where the consumer electronics and printed circuits manufacturing sector is rapidly expanding. This has contributed to the growth of the UV tape market in the region, where UV tapes are widely used in the backgrounding and wafer dicing process of semiconductors.

For more information about this report visit https://www.researchandmarkets.com/r/muz1bl

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• Global UV Tape Market