According to FMI research, during the forecasted period, the global thermal tapes market is predicted to reach US$ 1,121.1 Million in 2022. The thermal tape market revenue is expected to boost with the top 5 companies estimated to hold 20 to 25% of the global thermal tape market by the end of 2022.
The electronics and electrical segment by end-use type are projected to hold the major portion of the global thermal packaging market. The target segment is estimated to hold around 45% of the global thermal tape market by the end of 2032.
| Attributes | Details |
|---|---|
| Market Size 2022 | US$ 1,121.1 Million |
| Market Size 2032 | US$ 1,774.0 Million |
| Value CAGR (2022 to 2032) | 4.7% |
| Collective Value Share: Top 5 Companies (2022E) | 20 to 25% |
According to the research conducted by Future Market Insights, the thermal tape market generated total revenue of US$ 1,078.5 Mn in 2021. With the rising demand for high-temperature protection from an application point of thermal tape, the global thermal tape market is projected to reach US$ 1,774.0 Mn by 2032, increasing at a CAGR of 4.7% throughout the forecast period.
The thermal tape market is expected to experience positive growth during the forecast period. A new projection of FMI forecasts that thermal tape sales will rise during 2022-2032 and is projected to generate an attractive incremental growth opportunity of US$ 695.6 Mn.
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The global thermal tapes market witnessed a CAGR of 3.8% during 2015-2021 and reached US$ 1,078.5 Mn in 2021 from US$ 864.0 Mn in 2015.
Thermal tapes are made of porous foam and cloth backing material that provides a thermal barrier between two surfaces. These tapes can be made with different types of backing and adhesives that support the surfaces. In thermal tapes, cloth, woven fabric, fiberglass, glass, fluoropolymer, foam, metal, and foil sheets are used as backing materials whereas, for adhesive acrylic, rubber, silicon, ceramic and other material are used. Thermal tapes are routinely required by different industries as well as military organizations of several countries.
Thermal tape has been widely used in a number of applications in the industrial and manufacturing sectors. The application of thermal tapes in the field of electrical and electronic appliances proves to be prominent in the current market scenario considering the vast market for these appliances. Nowadays, technology has become the most important part of people’s lives, and everyone is glued to their phones and laptops. The continuous operation of these devices such as mobiles, televisions, and laptops creates a lot of heating problems which in turn affects the performance of the device. A lot of people are struggling with the heating of mobile phones and consumers had faced a lot of accidents while using these phones. The application of thermal tape in computers and LEDs is encouraging the thermal tape market as technology has become a crucial part of our lives. This gains the demand for safe and sound systems with upgraded performance by consumers. Thus, this will enhance the sales of thermal tapes market.
The most significant applications of thermal tapes include preventing water condensation and frosting systems lines, fireproofing, high-temperature protection, general heat shielding, and prevention. With the development in infrastructure and living standards all over the world, these tapes have a huge market in heat protection and shielding on an everyday basis. Thermal tapes play an essential part in the manufacturing process which is an evergreen market. The demand for thermal tapes can never be out in the manufacturing sector because thermal protection plays a crucial role in the manufacturing sector.
The piping section in the industrial sector all over the world requires thermal tapes which creates a huge demand for the tapes. Thermal tapes cover an unlimited market in the field of oil and gas, manufacturing, aerospace, power section, wastewater department, and food and beverages. Well, there are other options available in the market that can replace thermal tape such as thermal paste but the thermal tapes being more convenient to use, the demand for thermal tapes can never fall out.
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The major application of thermal tape includes all electronic devices such as computers, televisions, printers and scanners, mobiles, etc. Thermal tapes are widely used in electronic devices to adhere small chips on computer motherboards, heat sinks video display cards or panels of backlight modules. As the usage of electronics increased and the size decreased with improvement in their performance, the need for highly thermal conductive tapes has increased for heat dissipation. The most common application of thermal tapes are heat sinks, heat dissipation modules, CPU Microprocessor heat dissipation, LED lamps lanterns, etc. and these applications dominate the global market.
Thermal tapes are being considered for various end-use industries and applications considering the progressive designing future. The automotive industry is believed to be moving towards electric vehicles considering the environmental footprint of carbon emissions. Also despite the negative effect of covid-19 on economic growth, Asia Pacific has shown a remarkable gain in the automotive sector, and the thermal tapes market is forecasted to flourish in the future.
Increased usage of electronics such as mobile phones, laptops, computers, and tablets generating the market scope of thermal tape in the future. Making calls, videos, online shopping, and social media are never going to stop, as a result, thermal tapas will play a major role for the proper functioning of these devices. All these segments will create a larger market for thermal tapes in the future. The electrical & electronics segment is anticipated to register a CAGR of 4.9%
According to the Lamart Corporation, battery coating is going to power the future of electric vehicles. As per the article published by A Washington Post, an electric car requires a high amount of energy that demands the best insulation material for the batteries to improve its performance. Thus, this will be creating a greater opportunities for thermal tapes market
Germany is estimated to hold a promising CAGR of 3.7% in Europe during the forecast period. Europe and Germany are creating opportunities for the thermal tape market in the future as demand for electric mobility has been increasing. Climate change is one factor affecting the electric vehicle market and this can prove to be an opportunity for the thermal tape market to expand in Germany and Europe. An announcement has been made by Britain for banning petrol and diesel car by 2040 which further pushed the need for electrical mobility. Technology development in the field of thermal tapes is anticipated to become an essential component of the automotive sector.
According to the International Agency Research (IEA), Europe’s new electric car generation has been doubled to 1.4 billion having a market share of 10%. A surge in electric car registrations has been seen in Europe despite the slow economic growth during the pandemic. Battery Electric Vehicles accounted for 54% of electric vehicle registrations in europium countries. Germany registered 395 000 new electric cars and France registered 185 000.
Considering the current scenario of climate change, depletion of natural resources, ozone layer conditions, and greenhouse gases, an electric vehicle is the future of the automotive industry, especially in China. According to International Energy Agency (IEA), 3.3 million electric vehicles have been sold in china. The electric cars market share of China remained at the worlds largest that i.e. 7.9 million in 2021. In 2021, 2.7 million Battery electric vehicles have been sold in China which amounts to 82% of new electric cars sold in China. As per the report published by International Agency Research, China offers a broad variety of electric vehicles comprising around 300 models which are 50% more than that of Europe and United States. China is estimated to register a CAGR of nearly 5.6% during 2022-2032.
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| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Units and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Material, Tape Type, Application, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa (MEA); Oceania |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Scapa Industrial; I.M. Technologies; JBC technologies; H.B. Fuller; MBK Tape Solutions; Berry Global; KIC; 3M Science; Coroplast Tape; Rogers Corporation; Duraco; Intertape Polymer Group; Lamart Corporation; Mactac Alintic Company; Nitto; Tessa; McAllister Mills; T Global Technology; Avery Dennison; LINTEC Corporation; AI Technology INC; Stokvis Tapes |
| Customization & Pricing | Available upon Request |
The global thermal tape reached US$ 1,078.5 Mn in 2021.
The thermal tape market is expected to be growing at a CAGR of 4.7% during 2022-2032.
The global thermal tapes market is expected to reach US$ 1,774.0 Mn by the end of 2032.
During the forecast period, the electrical & electronics segment is likely to be the fastest-growing material segment in the global thermal tapes market.
The increasing demand for better-performing electronics and electrical devices is increasing the demand for thermal tapes.
Scapa Industrial, I.M. Technologies, JBC technologies, H.B. Fuller, MBK Tape Solutions, Berry Global, Coroplast Tape, Rogers Corporation, Lamart Corporation, are some of the key players operating in the thermal tapes market.
As per the FMI analysis, the Indian thermal tapes market is projected to expand at a CAGR of 6.0% during 2022-32.
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