In 2022, the global market for thermal tapes is anticipated to reach US$ 1,121.1 Mn, according to FMI research. With the top 5 firms predicted to control 20–25% of the worldwide thermal tape market by the end of 2022, the market’s revenue is anticipated to increase.
According to end-use type, the electronics and electrical segment is anticipated to account for the largest share of the worldwide thermal packaging market. By the end of 2032, the target sector is anticipated to account for 45% of the global thermal tape market.
Thermal tape sales are expected to reach US$ 1,078.5 million in 2021, according to research by Future Market Insights. The worldwide thermal tape market is anticipated to grow at a CAGR of 4.7% over the forecast period to reach US$ 1,774.0 Mn by 2032, driven by the increased need for high-temperature protection from a thermal tape application point.
The thermal tape market is anticipated to increase favourably throughout the anticipated time frame. According to a recent FMI projection, the market for thermal tape would develop between 2022 and 2032, offering a lucrative additional growth opportunity of US$ 695.6 Mn.
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Thermal Tapes Market: Overview
Thermal Tapes are used in electronic appliances, circuits, LED and solar industries because of its high heat conductivity property. Thermal Tapes, also known as Thermal Management Tapes or Thermally Conductive Adhesive Tapes because they have high-temperature conductivity. Thermal tapes are single or double sided tapes which are used to support heat dissipation and protect parts from overheating. Thermal Tapes are having applications in electronics equipment and semiconductor manufacturing. Thermal tapes are also useful in CPU and heat sink or radiation fin.
Metals like aluminum and copper can conduct electricity and resist a temperature of up to 140° C, so thermal tapes are used in electrical equipment as heat barriers. As an added benefit, thermal tapes are very resistant to many environmental factors, such as sunlight, ozone, and water. Thermal tapes have great adhesion for remarkable strength and reliability with features excellent workability. These characteristics make thermal tapes the ideal choice for long-lasting, high-performance outdoor applications.
Thermal Tapes Market: Dynamics
Thermal Tapes market is depending global electronics market which is proliferating over the years. An innovation of electronics equipment exhibits higher performance and more and more power into ever smaller packages, it will dissipate energy in the form of heat and requires some degree of thermal management. Thermal tapes are used as thermal management and barriers for high power and heat dissipate electronics equipment.
Thermal tapes market is at its peak because of increasing production in electrical & electronics industries, aviation industries, construction industries and automotive industries. New technological innovations and growing consumer buying power help to develop the consumer electronics market with CAGR of 4% in next five years, which can also increase thermal tapes market. Thermal tapes market in Africa and Latin America is low because of low penetration of electronics appliances in the market. The government plan and increasing investment in the consumer electronics & semiconductor manufacturer in the Middle East and APEJ.
Thermal Tapes Market: Geographical Outlook
The global thermal tapes market has been divided into seven regions –
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
- Japan
Electronics equipment consumption in APEJ is increasing over few years because of China and India. Both countries are emerging in the manufacturing of electronics appliances. China is calculated to have near about 70% of total semiconductor manufacturing in the world which makes it one of the major markets for the thermal tapes. India is also try to become the next destination for semiconductor manufacturing as the Indian government and investors are focusing on enhancing consumer electronics and manufacturing potentiality in the country.
Therefore APEJ shares massive market of thermal tapes and may be increased more in future. North America and Western Europe are assumed to grow more in next year. Low penetration of consumer electronics product in regions like Africa and Latin America and capital-intensive nature of semiconductor manufacturing technology is anticipated to limit the growth of thermal tapes market. More demand for electronics products and improving lifestyles of people in the Middle East and APEJ gives more reasons to grow thermal tapes market for fulfilling the electronics and semiconductor industries need.
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Thermal Tapes Market: Key Players
Few of the key players operating in the Thermal Tapes Market are – V. Himark (USA) Inc, InsulFab Plastics, Inc., ABBA Applied Technology Corporation, Nitto Denko Corporation, Semiconductor Equipment Corp., Chip Hua Equipment & Tools Pte Ltd., 3M, Dongguan Haixiang Adhesive Products Co., Ltd., Shanghai Huishi Package Material Co., Ltd., Huizhou King Bali Technology Co., Ltd. and Taixing Chuanda Plastic Co., Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
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Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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https://teletype.in/@nk99fmi/poNHq2ziDaI
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