UV tapes industry is subject to witness a substantial growth due to the increasing demand.

The UV tapes industry is subject to witness a substantial growth due to the increasing demand for UV tapes from electronics and semiconductor industries. UV tapes are a type of pressure sensitive adhesive (PSA) tapes that possess properties such as strong adhesion and higher durability. Typical application of the UV tapes include wafer dicing, back grinding, PCB grinding, and glass dicing applications.

Rapid growth of consumer electronics and semiconductor industries, particularly in the Asia Pacific region is anticipated to boost the market growth of UV tapes over the next seven years. Globally, the UV (Ultraviolet) tapes market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the industry.

Download Free Sample  - https://www.millioninsights.com/industry-reports/uv-tapes-market/request-sample

Growing popularity of polyolefin (PO) UV tapes owing to the superior properties such as strong adhesion, higher durability and higher performance in adverse atmospheric conditions are expected to drive market demand in the upcoming years. Increasing adoption of polyolefin UV tapes for wafer dicing application in semiconductor industry is predicted to fuel the market growth of UV tapes over the next seven years.

Furthermore, massive investment for research & development in semiconductor industry and increase in the number of manufacturing activities in the BRICS economies such as Brazil, Russia, India, China and South Africa are predicted to expand market reach in the near future. Strong economic growth in the emerging economies across Asia Pacific region coupled with rising spending in current fiscal budgets are propelling market growth, in the recent years.

Easy availability of raw materials and lower manufacturing cost are expected to foster the growth of UV tapes industry over the upcoming years. Raw material required for production of UV tapes include base polymer, oligomer and photo initiator. Manufacturing process involves UV irradiation, formation of crossed linked structure by the polymerization reaction, thus making adhesive becomes hard. The market is classified based product type such as polyolefin (PO), polyvinyl chloride (PVC), polyethylene terephthalate (PET) and others including phenolic film and polypropylene tapes.

The UV tapes market is broadly categorized into two major segments based on the application type such as wafer dicing and back grinding. The wafer dicing is considered as one of the fastest growing segment in the UV tapes industry with substantial revenue generation in the last few years. Growing popularity of UV tapes in the wafer-dicing segment is attributed to the increasing demand from semiconductor industry. The back-grinding segment has also witnessed substantial growth owing to the growing focus towards miniaturization of electronic components.