UV Tapes Market Set for Stellar Growth owing to Robust Demand from APAC
Use of UV tapes in the semiconductor manufacturing industry for back grinding and wafer dicing is anticipated to fuel the market through 2020.
VALLEY COTTAGE, NEW YORK, UNITED STATES, July 6, 2015 /EINPresswire.com/ -- The global UV tapes market will expand at a CAGR of 9.3% during 2015 to 2020 and reach a valuation of US$ 437.9 Mn, according to a new report by Future Market Insights (FMI). The report titled, “UV Tapes Market: Global Industry Analysis and Opportunity Assessment, 2015-2020” provides key insights on the prospects of UV tapes market.The trend of miniaturization of electronics devices is anticipated to fuel the demand for UV tapes in the near future. Increasing demand for electronics durables is expected to boost the demand for semiconductors, which in turn, will augur well for the UV tapes market.
Demand for alternative PSA-based solvents is also anticipated to fuel the market during the forecast period. UV tapes are environment-friendly and their performance is not affected in high-temperature applications. These factors are making UV tapes an appealing option among semiconductor manufacturers.
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Other factors anticipated to fuel the UV tapes market during the forecast period include increasing usage in new and emerging applications, growing awareness about UV tapes, and strong distribution network in Asia Pacific.
According to FMI, high cost remains a key restraint for widespread adoption of UV tapes. Furthermore, inefficiency of UV tapes when dicing is done in high volume, such as BGA, QFN, and CSPs can pose challenges for their adoption. FMI estimates these factors to have a moderate to low impact on the UV tapes market during the forecast period.
The key trends in the UV tapes market include replacement of PVC (polyvinyl chloride) by PO (polyolefins) and PET (polyethylene terephthalate). PO and PET have lesser impact on the environment than PVC, and this is one of the key factors for their adoption in UV tapes. Growing demand for acrylic materials, increasing use of additional layers in UV tape, and growing application in back grinding process are the other key trends in the UV tapes market globally.
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Wafer Dicing & Back Grinding: Key Application Segments of UV Tapes Market
The key application segments of UV tapes include wafer dicing, back grinding, and ‘others’. The wafer dicing and back grinding segment are equally poised currently and FMI estimates this trend to continue during the forecast period. The wafer dicing segment is projected to reach US$ 207.8 Mn, whereas the back grinding segment is forecasted to reach US$ 205 Mn by 2020.
The ‘others’ segment, which comprises applications of UV tapes in miscellaneous sectors, was worth US$ 10.5 Mn in 2013. FMI estimates this segment to expand at a CAGR of 13.4% through 2020 and reach a valuation of US$ 25.1 Mn.
On the basis of product type, the UV tapes market is segmented into PO, PET, PVC, and ‘others’. PO accounted for the bulk of the demand from manufacturers, accounting for 58.8% of market share in 2014. FMI estimates this segment to expand at a CAGR of 8.1% during the period 2015-2020 and reach a valuation of US$ 72.2 Mn.
The PVC and PET segment are forecasted to lose their market share during the forecast period owing to increased adoption of PO by key manufacturers. FMI estimates PVC and PET to lose 110 and 140 points respectively during the forecast period.
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Asia Pacific Accounts for Bulk of the Demand for UV Tapes
Asia Pacific is the most lucrative region for UV tapes market, accounting for a market share of 70.8% in 2014. FMI estimates the Asia Pacific market to gain 310 BPS during the forecast period and reach a valuation of US$ 323.5 Mn. North America and Europe, the other key regions in the UV tapes market, are anticipated to expand at a CAGR of 6.8% and 7.2% respectively.
Key market participants covered in FMI’s research report include Furukawa Electric Co., Mitsui Chemicals, Lintec Chemicals, Nitto Denko Corporation, Ltd. and Sumitomo Bakelite Co. Ltd. BASF SE, Henkel AG & Company and Dow Chemical Co.
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