Insights on the UV Tapes Global Market to 2027 - Rising Adoption of Smart and Miniaturized Consumer Electronics Drives Growth
DUBLIN, Jan. 24, 2023 /PRNewswire/ -- The "UV Tapes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global UV tapes market size reached US$ 420.8 Million in 2021. Looking forward, the publisher expects the market to reach US$ 700.2 Million by 2027, exhibiting a CAGR of 8.86% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
They are used to protect the surface of semiconductor wafers during the back grinding process and keep them along the ring frame during the dicing process. They are also applicable on ceramics, glass, sapphires, and plastics workpieces, which experience prolonged exposure to UV light.
This represents one of the key factors influencing the market growth positively. In line with this, increasing digitization and the rising trend of automation are promoting the adoption of semiconductor memory in modern medical devices, which, in turn, are contributing to the market growth.
Moreover, the burgeoning construction industry is stimulating the use of UV tapes for pipes, windows, open joint facades, and sealing around doors.
Apart from this, the growing utilization of flexographic printing in flexible packaging that minimizes product wastage and extends the shelf-life of various food and beverage (F&B) products is also propelling the market growth.
Furthermore, leading market players re developing innovative products, such as UV-activatable adhesive tape with color change features, which is augmenting their demand in the automotive industry. Besides this, rising awareness about the benefits offered by UV tapes, in confluence with the expanding distribution channel, is projected to foster the market growth.
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