According to Future Market Insights research, during the projected period, the global ultra high bond (UHB) tape market is set to enjoy a valuation of US$ 982.2 Million in 2022, and further expand at a CAGR of 3.8% to reach US$ 1,423.4 Million by the 2032 is the year. Sales of ultra high bond (UHB) tape are expected to rise, with the top 3 nations controlling between 30 and 35 percent of the market by the end of 2022.
Regarding bonding strength, ultra high bond (UHB) tape is thought to be extremely dependable. The use of ultra high bond (UHB) tape as a substitute for screws and other metal parts is growing in popularity because of the nature of bonding surfaces. Ultra high bond (UHB) tape acts as a barrier between surfaces, preventing gaps from forming and offering features like soundproofing and waterproofing. The ultra high bond (UHB) tape helps tackle problems such as waterproofing, Impact resistance, and bonding strength on multiple fronts.
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The doubly coated nature allows to simultaneously mount things together and remain intact for a long time. The factors like convenience and reliability of ultra high bond (UHB) tape have made them an ideal alternative. This is creating a huge surge in demand from different industries and the market share of ultra-high bond (UHB) tape is expected to increase globally in the future.
Key Takeaways from Ultra High Bond (UHB) Tape Market
- Ultra high bond (UHB) tape market is showing lucrative growth in the construction sector because of their nature to bond surfaces. Also, there is a visual appeal to the finishing is done using UHB tape. The global ultra high bond (UHB) tape market is projected to expand 1.5 times the current market value during 2022-2032.
- Based on thickness, the less than 30 mm segment is estimated to remain the leading segment for the global ultra high bond (UHB) tape market which is expected to account for 45% of the market value share by the end of 2022.
- The expanding automotive and construction industry is anticipated to create a growth opportunity for the ultra-high bond (UHB) tape market. Both segments collectively are projected to create a growth opportunity of US$ 326.4 Mn during the forecast period.
“Ultra high bond (UHB) tape has the ability to withstand extreme temperatures, solvents, UV light, and moisture which gains popularity among the end use industry. Also, the trend for the invisibility of bonding solution in end use industry creates a growth opportunity for the ultra high bond (UHB) tape manufacturers as this tape is designed to move invisibly after application” – says FMI analyst
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Growing Electro and Digital Industry is fuelling the expansion of Ultra High Bond (UHB) Tape Market
Ultra high bond (UHB) tape provides good shock resistance, sealing, and waterproofing properties reducing the risk of broken displays, screens, and dust contamination which is desired highly by the electronic industries. Ultra high bond (UHB) tape is a big help in setting up a fast and streamlined manufacturing facility. Densely Populated and emerging economies like India, China are creating a very strong demand for consumer electronics.
According to the Ministry of Commerce, in 2021 the Indian appliances and consumer electronics industry accounted for around US$ 9.84 billion and is expected to grow more than double. Electronics hardware production in the country stood at US$ 63.39 billion in 2021. This is projected to generate hefty demand for bonding solutions including ultra high bond (UHB) tape.
Ultra high bond (UHB) tape due to its viscoelastic properties is coming out as a promising alternative and is slowly replacing screws and other metal parts in electronics. Overall, the growing electro and digital industry is fuelling the expansion of ultra high bond (UHB) tape market.
Impact of COVID-19 on the Ultra High Bond (UHB) Tape Market
The global ultra high bond (UHB) tape market experienced a downturn due to the COVID-19 pandemic’s emergence. Lockdown measures undertaken by various governments have caused factory closures in several cities and territories around the world, raising concerns about a sudden slowdown. The automotive, building & construction, metallurgy, and other industries reported decreased production & operation activities due to trade barriers which had a negative impact on the ultra high bond (UHB) tape market. The demand & sales of ultra high bond (UHB) tape reduced during the pandemic which hampered the market growth.
Later, the end use industries started to operate at their full capacity focusing on expanding their product portfolio and presence to cover the incurred losses. In addition, the industry is expected to grow dramatically over the next few years as transport restrictions continue to be relaxed and the blockade is lifted. This created a growth opportunity for the ultra high bond (UHB) tape market.
Ultra High Bond (UHB) Tape Market Landscape
The key players operating in the ultra high bond (UHB) tape market include 3M Company, ORAFOL Europe GmbH, Avery Dennison Corporation, Saint-Gobain S.A., Hi-Bond Tapes Ltd., tesa SE, Nitto Denko Corporation, Interetape Polymer Group, and H.B. Fuller Company. Also, some of the other noticeable players in the market are LAMATEK, Inc., Achem Industries (YC Group), The Tecman Group, AFTC Group, Indigo Industrial Supplies Limited, Shenzhen KHJ Technology Co., Ltd., Gripking Tapes India Pvt. Ltd., Lohmann GmbH & Co.KG, and others.
Ultra High Bond (UHB) Tape Market by Category
By Thickness, Ultra High Bond (UHB) Tape Market is Segmented as:
- Less than 30 mm
- 30 to 50 mm
- 51 mm and Above
By End Use Industry, Ultra High Bond (UHB) Tape Market is Segmented as:
- Automotive
- Construction
- Metallurgy
- Others (Electronics, Furniture etc.)
By Region, Ultra High Bond (UHB) Tape Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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