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Thermal Tapes Market Snapshot 2022 - 2032

According to FMI research, during the forecasted period, the global thermal tapes market is predicted to reach US$ 1,121.1 Mn in 2022. The thermal tape market revenue is expected to boost with the top 5 companies estimated to hold 20-25% 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.

Market Size 2022

US$ 1,121.1 Mn

Market Size 2032

US$ 1,774.0 Mn

Value CAGR (2022-2032)

4.7%

Collective Value Share: Top 5 Companies (2022E)

20-25%

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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Historic Market Outlook for Thermal Tapes Markets

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.

How the Substantial Demand from Various Industries Is Boosting the 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.

Ismail Sutaria
Ismail Sutaria

Principal Consultant

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Category-wise Insights

Which Application Holds the Major Portion of the Global Thermal Tapes Market?

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.

Which End Use Segment Generates Hefty Demand for the Thermal Tapes 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

Country-wise insights

How does Germany Fuel the Demand for Thermal Tapes?

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.

How does China Create a Growth Opportunity for the Thermal Tapes Market?

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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Competitive Landscape

  • In March 2022, Mactac purchased the Spinnaker manufacturing facility and headquarters in North America through the acquisition of Spinnaker Coating LLC.
  • In June 2022, Laird Du Point Business introduced a new product that is Ttape 1000A thermally conductive offering a very low thermal resistance.

Scope of the Report

Attribute

Details

Growth Rate

CAGR of 4.7% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Million, Volume in Units and CAGR from 2022-2032

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

  • US
  • Canada
  • Mexico
  • Brazil
  • Germany
  • U.K.
  • 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

Thermal Tapes Market by Category

By Material, Thermal Tapes Market is segmented as:

  • PVC
  • Polyester
  • Fibreglass
  • Polyamide

By Tape Type, Thermal Tapes Market is segmented as:

  • Single Side Coated
  • Double Side Coated

By Application, Thermal Tapes Market is segmented as:

  • Heat Shielding
  • Refrigeration/Water Condensation and frosting
  • Fireproofing
  • High temperature protection

By End Use, Thermal Tapes Market is segmented as:

  • Electrical & Electronics
  • Automotive
  • Aviation
  • Others

By Region, Thermal tapes Market is segmented as:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Middle East & Africa (MEA)
  • Oceania

Frequently Asked Questions

What was the value of the thermal tape market in 2021?

The global thermal tape reached US$ 1,078.5 Mn in 2021.

What growth rate is expected for the global thermal tapes market?

The thermal tape market is expected to be growing at a CAGR of 4.7% during 2022-2032.

By 2032, what will the value of the global thermal tapes market?

The global thermal tapes market is expected to reach US$ 1,774.0 Mn by the end of 2032.

Which end use segment is expected to lead the global thermal tapes market during the forecast period?

During the forecast period, the electrical & electronics segment is likely to be the fastest-growing material segment in the global thermal tapes market.

What drives the demand for the thermal tapes market?

The increasing demand for better-performing electronics and electrical devices is increasing the demand for thermal tapes.

Which are the key players operating in the global thermal tapes market?

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.

At what rate is the Indian thermal tapes market projected to grow?

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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