Transparency Market Research offers key market acumens of global dicing tapes market in its newly published report, which includes global industry survey, share, growth, size, trends, along with forecast for 2022-2026. In terms of global revenue, the dicing tapes market is anticipated to register growth at 6.5% CAGR over the upcoming decade, of which TMR provides a detailed analysis of lucrative growth opportunities in the dicing tapes market report.
Dicing tapes are manufactured with a base polymer, oligomer, and a photo initiator, and are pressure-sensitive. These tapes can help to deal with harsh sunlight and other environmental variables. They create a strong adhesive bond to a variety of surfaces, making them an excellent alternative to duct tape. They are utilized to keep semiconductor wafers aligned with the ring frame during the dicing process and protect their surfaces during back grinding. They can be also on workpieces made of ceramics, glass, gemstones, and plastics that are exposed to UV light for long periods of time.
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Growing Application in APAC Electronics Industry
The world’s fastest-growing industry, Electronics System Design and Manufacturing (ESDM) continues to transform lives, businesses, and economies across the globe. As per Invest India, a National Investment and Facilitation Agency, Indian electronics market was worth US$ 118 Bn in the year 2020 and the country is second largest mobile manufacturer in the world. Furthermore, it states that the Indian Electronics Manufacturing Service (EMS) Industry is expected to grow 6.5x its current market size by 2025. Furthermore, Electronic Goods Exports register a whopping growth of 49% in April-December 2021 by clocking US$ 11.0 Bn (Provisional) over US$ 7.4 Bn during same period in the year 2020. Moreover, availability of raw materials and advanced technology infrastructure are attracting global players to invest in emerging countries in APAC.
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Dicing Tapes Market: Competition Landscape
Key market players in the dicing tapes market are focusing on strategic expansions and acquisitions to maintain their supremacy across the regions and eyeing lucrative growth offered by emerging markets:-
- In February 2019, the company acquired Acelity Inc. a manufacturer of medical products. This acquisition bolsters the Medical Solutions business and supports the growth strategy of the company. It also offers comprehensive advanced and surgical wound care solutions and improve outcomes and enhance experiences.
Stakeholders Use Government Stimulus Packages to Stay Financially Afloat during Coronavirus Pandemic
Even as manufacturers in the packaging industry have been working at break-neck speeds amid the ongoing coronavirus pandemic, their business activities have been affected, since the semiconductor industry has been struggling with raw material availability. Stakeholders in the dicing tapes market are taking advantage of government stimulus packages to stay financially afloat, as the semiconductor industry has been experiencing a shortage in chips. Business activities are estimated to return to normalcy by the end of 2022, owing to the risks of new infection variants such as Omicron and NeoCoV. Import and export of dicing tapes is projected to rise, due to increase in shipment and demand for electronic products.
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The tier structure is formed based on segmental revenues earned by the sales of sterile medical packaging by the company. According to the tier structure, 3M Company, Nitto Denko Corp, Mitsui Chemicals Inc., Furukawa Electric Co. Ltd., and Sumitomo Bakelite Co. Ltd. Have been considered Tier 1 players in the dicing tapes market. Tier 3 players are Lintec Corporation and Hitachi Chemical Company, Ltd. and other small-scale dicing tapes manufacturers.
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