The electric and electronic adhesive tapes market size is projected to grow at a CAGR of 5.16% to reach US$4.830 billion in 2026 from US$3.397 billion in 2019. It has been observed a powerful rate in recent years and is forecast to exhibit fruitfully within the years to come back.
Electrical and Electronic adhesive tapes have unique properties that include conductivity and heat resistance which allows manufacturers to replace bolts and screws to reduce device size resulting in the extensive use of these tapes in tablets, smartphones, laptops and other consumer electronic applications. They have extensive applications in a variety of electronic devices in their assembly operations to hold components in a fixed place while allowing current to pass through it. They are mainly used to attach radio frequency interference shields or electromagnetic interference shields to devices.
The electric and electronic adhesive tapes especially work when the conductive components come in contact with various substrates and a low current is allowed to flow between the two substrates and are in contact within the tape polymer matrix. These conductive components include nickel, silver, graphite, and copper. The extensive use of these tapes in the consumer electronics and various industry sectors will drive the growth of the electrical and electronic adhesive tapes market in the forecast period.
However, the cyclic nature of the semiconductor and the electronic industry has proved to be a major restraint in the growth of electric and electronic adhesive tapes in the forecast period. The relatively shorter lifespan of semiconductor items where traditional technologies is dominated with new and advanced applications has been considered a major restraint of the of electric and electronic adhesive tapes market. These advanced technologies take over these products and cause an upswing in the industry causing high demand and short supply of these products. Moreover, oversupply causes a downswing in the market and falling prices due to inventory build-up. Also, the worldwide economic growth has been a major reason for the restraining growth of the electrical and electronic adhesive tapes market.
The Rising Investments in the Electronics Sector and the Rising Demand of Consumer Electronics Is Estimated to Account For the Growth of Electric and Electronic Adhesive Tapes
The increasing investments in the electronics sector due to its rapid growth as a result of surging demand of emerging market economies is fuelled to the steady market growth of electric and electronic adhesive tapes market, The increasing electronic production by various countries and the growing investments in foreign production of electronics has led to the growing demand of electric and electronic adhesive tapes in the global market. The increasing spending power of consumers and the growing demand of electronics has led to the growth of the electronic sector, The electronics producing countries have a strong consumer base that can invest in advanced technologies and buy new electronic products. The increasing competitiveness among end-users is leading to the cheaper products in the market for individuals due to lower production costs. Furthermore, the growing demand of consumer electronics due to the introduction of digital initiatives by governments of developing nations including China, India and Brazil has further led to the increasing demand of consumer electronics like tablets, smartphones and laptops has led to the rising demand of electric and electronic adhesive tapes over the forecast period. China being one of the world consumer electronics producers and is a major market for industrial and consumer electronics. Moreover, the increasing population around the globe has accounted for the use of consumer electronics owing to which the market of electric and electronic adhesive tapes is expected to bloom in the forecast period
North America and Asia Pacific Region Fuelled the Electric and Electronic Adhesive Tapes Market
Based on Regions, the market is metameric into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, North America emerged united of the leading regions; though, the market within the Asia-Pacific region is anticipated to develop at a fast rate as compared to different regions. North America is additionally anticipated to exhibit the highest rate / CAGR over the forecast amount 2020-2027. Factors like increasing export of commercial goods and increasing infrastructure in the region has led to the growth of electric and electronic adhesive tapes. Electric and electronic adhesive tapes would produce moneymaking growth prospects for the growth of the market across the region.
The growth of the Asia-Pacific market is calculable to be fuelled owing to the technological advancements the ever-growing manufacturing units associated with various industries such as automotive, electronics, construction and food and beverages have been a prominent reason for the increasing demand of electric and electronic adhesive tapes in these industry verticals. The ability of electric and electronic adhesive tapes to withstand harsh and high temperatures, elimination of the need for screws, fasteners or welding and high tensile strength has fuelled its growth in the global market. Also, the increasing export of commercial goods from countries in the region like China, India, Japan is leading to the increasing use of electric and electronic adhesive tapes in the region.
Manufacturing activities are interrupted because of lockdown measures enforced in numerous countries. Additionally, disruptions within the supply chain and retardation of companies' businesses have occurred. Trade barriers have restrained the stock. The COVID-19 impact on the electrical and electronic adhesive tape market has been severely affected due to the uncertainty in the recovery timeline, the implantation of lockdown in various countries has had a negative impact on the production activities. The investments made in these sectors have been put on hold due to the pandemic across various counties and is expected to be postponed for at least a year. The partial operation of distribution centers and manufacturing unit have caused delays is new orders of electric and electronic adhesive tapes. The consumer demand of electric and electronic adhesive tapes have also been restricted which has hampered the market. The temporary lockdown and the shutting of manufacturing and production units has had an adverse effect on the consumer electronic sector which in turn has affected the growth of electric and electronic adhesive tapes in the global market.