Thermal release tape is the adhesive tape functional at room temperature and can be peeled off just by heating. Among many adhesive tapes utilized in industrial tapes market, thermal release tape holds an important area in the manufacturing processes of electronics components especially in the engineering of semiconductors. Thermal release tapes like most adhesive tapes adhere at any room temperature and gets quickly released by the application of heat. The primary characteristic of tape removal without damage present in the thermal release tapes makes it an attractive commodity for the electronics and semiconductor propelling the demand of thermal release tapes in the next few years.
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Thermal Release Tapes: Market Dynamics
The electronics industry has witnessed two-fold growth in the last decade and is estimated to gain substantial growth in the upcoming period. This is attributed to the growing usage of semiconductors in the electronics equipment sector. The advent of semiconductors aided in cost effective and efficient manufacturing processes, to meet the rising demand for electronics products. This, in turn, is anticipated to be the major driving factor for the growth of thermal release tapes market. Mounting competition in other industries like construction, automotive, electrical and aviation have compelled the market players to lower their production run time and effective utilization of resources. Such trends and tripping points, in turn, have expanded the scope of the thermal release tape, driving the demand throughout the forecast period. Moreover, factors such as digitalization, urbanization, increasing consumer spending power along with exponential growth for electronics goods is expected to stimulate the demand for the thermal release tape market worldwide.
Hugh economic shifts and momentous changes in the global consumption pattern is driving demand for the smart products like electronic compliances at competitive prices. So, in turn, thermal release tapes manufacturers are compelled to lower the margins to sustain which is expected to augment the growth of the thermal release tape market during the forecast period. However, low penetration of electronic appliances in regions like Africa and Latin America and capital intensive nature of semiconductor manufacturing technology is anticipated to limit the growth of thermal release tape in emerging markets. However, the government initiatives, as well as growing investment activities in emerging markets for the electronics and semiconductor industries in the Middle East and ASEAN region, are anticipated to create new avenues of opportunities for the growth of thermal release tapes market.
Thermal Release Tapes Market: Regional Outlook
In terms of geography, the global thermal release tape market has been divided into five key regions including North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa. Asia-Pacific is expected to dominate the thermal release tape market throughout the forecast period and is projected to witness robust growth. This is primarily attributed to the increased demand for electronic appliances from China and India. China is estimated to have over 70% of total semiconductor foundry in the world making it one of the major markets for the thermal release tapes manufacturers. Moreover, India is expected to be the next destination for semiconductor foundries as the government is focusing on enhancing electronics and manufacturing capabilities in the country. Mature markets like North America and Europe are expected to witness sluggish growth.
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Furthermore, BREXIT is anticipated to affect the overall European thermal release tape market. However, with future investments in the manufacturing sector, North America is expected to gain momentum in the later phase of the forecast period. The demand for thermal release tape in the Middle East and Africa is projected to remain slothful throughout the forecast period. Nevertheless, the presence of GCC and Nigeria is anticipated to fuel the demand for electronic and other industrial appliances, which in turn is expected to boost the thermal release tapes market.
Thermal Release Tapes Market: Key players
Some of the key players in the global thermal release tape market are 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.
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