Global Thermal Transfer Tapes Market is segmented By End-User (Automotive, Construction, Defense & Aerospace, Electrical & Electronics, Shipping & Logistics, Others), Product Type (Double-Sided, Single-Sided), Material (PVC, Paper, Polyethylene, Polyamide, Others), Substrate, Flexible, Rigid), Thickness (Up to o.5 mm, 0.5 to 1 mm, More than 1 mm), By Region (North America, Europe, South America, Asia-Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Market Overview
The Global "Thermal Transfer Tapes Market"is expected to reach at a CAGR of 10.4% during the forecast period (2023-2030).
Thermally transfer tapes are designed to provide a preferential path for dissipating heat away from the heat-generating components and heat sinks. It is an efficient method of mounting heat sinks onto devices such as small electronic packages, microprocessors and other components. These tapes are suited for heat sink attachment with mid-range thermal performance. The tape offers superior thermal conductivity, temperature resistance, peel adhesion and die cuttability characteristics.
Thermal transfer tapes are available in various widths, lengths and thicknesses based on the end-users demand. These tapes are used in various industries, including automotive, electrical & electronics, construction, logistics, aerospace & defense and other industrial sectors.
Market Dynamics
The global thermal transfer tapes market demand from rising sales of electric vehicles and increasing demand from the consumer electronics industry.
Demand from rising sales of electric vehicles
The demand from rising sales of electric vehicles expected to drive the global thermal transfer tapes market. There has been a drastic increase in demand for electric and hybrid vehicles globally. For instance, plug-in vehicles on British roads increased from 3,500 in 2013 to more than 220,000 by 2019. The constant growth of EV and PHEV vehicles is essentially dependent on battery design. With the increasing energy capacities of EV batteries, heat-related issues will also increase in the batteries produce. These issues can deplete the battery's service life and reduce performance, increasing the need for thermal conductive tape for transferring heat from the battery pack to the heat sink.
A medium-sized EV battery weighs around 230 kilograms, while a premium battery can weigh up to 600 kg. Securing and mounting the battery in an EV requires several fixtures and adhesive solutions, including thermal adhesive tape.
EVs are still in the moderately early stages of development, with manufacturers looking to maximize ROIs to justify the expense of R&D. Thermal transfer adhesive tape offers a versatile solution for mounting and heat management in EV batteries, representing a lightweight and comfortable alternative to mechanical clasps and fixings and providing more cleaner and consistent bond line to liquid adhesives.
Fluctuations in raw material prices
The thermal transfer tapes market is impacted by the fluctuations in raw material prices. The availability and cost of raw materials are vital factors for the manufacturers to decide on cost structure. Most raw materials such as PVC, polyethylene, PET and other chemicals used in the manufacturing of tapes are petroleum-based derivatives and are susceptible to fluctuations in prices. There has been high volatility of oil prices in the past with increasing demand across the globe, affecting the cost structure of the thermal transfer tapes industry. Such scenarios are responsible for restraining the market growth in the forecast period.
COVID-19 Impact Analysis
Due to the pandemic, stakeholders across the thermal transfer tapes industry have seen a notable impact as all the production work, factories and other activities were closed. As a result, production was hindered by halts and supply chain disruption globally. After the pandemic, the governments still impose various restrictions, such as working with half the workforce and fewer operating hours hindering the production cycle of the market.
As a result, the losses are incorporated with less demand from automotive, electrical & electronics, construction and other associated industries. However, the market is expected to recover after the pandemic, with sectors aiming to work with higher production rates to recover from the incorporated losses.
Segment Analysis
By product type, the thermal transfer tapes market is broadly classified into single-sided and double-sided tapes.
The double-sided tape market is expected to grow at the fastest CAGR during the forecast period (2021-2028)
The double-sided tapes are expected to hold the largest market for thermal transfer tapes market and are expected to continue their dominance in the forecast period. Double-sided thermal transfer tapes conduct heat efficiently and offer a secure and long-lasting bond. The tapes offer a neater and easier option with ease of use while eliminating the use of messy pastes that are difficult to apply.
The tapes ensure thermal transfer by the conductive ceramic fibers in the tape without needing a heat cycle to form a strong bond. The tapes are easily applied on almost any surface and offer superior dielectric strength for a wide variety of applications, including bonding heat spreaders, heat sinks, cooling devices, IC packages, power transistors and heat-generating components.
These tapes are majorly used to bond heat sinks and other cooling systems to a warm component. The double-sided adhesive tapes can be easily and quickly mounted on almost any surface by removing the protective film. Leading Companies like 3M and Scapa offer a wide range of thermal transfer tape options for the end-users.
Geographical Analysis
Asia Pacific region holds the largest market for the global thermal transfer tapes globally
Asia Pacific region holds the largest market share for the thermal transfer tapes market globally and is expected to continue its dominance in the forecast period. The high penetration for electronic devices such as smartphones, LED, M/B, PS desktop, DVD and electronic components such as IC, CPU, MOS, among others, are expected to increase the need for thermal transfer tapes. The thermal transfer tapes are widely used in the region for manufacturing electronic applications and industries, including computers, routers, solar, medical device, wireless devices, power supplies and the automotive industry.
China is the largest exporter & producer of consumer electronics in the world China with a forecast to generate around $25o billion in revenue in 2021. The region has the most extensive electronics manufacturing ecosystem with a cheap labor force.
The rising sales for electric vehicles in the countries like India and China are anticipated to create new opportunities for the thermal transfer tapes market in the region. For instance, almost 1.3 million EVs were sold in China in 2020, representing 41% of global EV sales. The thermal transfer tapes are widely used in the batterie of electric vehicles for effective heat management.
Competitive Landscape
The thermal transfer tapes market is moderately competitive with the local player’s presence, followed by the global companies, contributing to the major share in the market growth. In addition, some of the key players contributing to the growth of the market are 3M, CCL Design Electronics, Dexerials Corporation, Shenzhen 3KS Electronic Material Co., Ltd, Sai Corporation, PPI Adhesive Products, Scapa, Seiko Epson Corporation, Boyd Corporation, Tecman Group, Tape India and others. The major players are adopting various new strategies to dominate the market, such as product launches, expansions, acquisitions and collaborations, contributing to the growth of the Graphene battery market globally.
3M
Overview: The 3M Company is a multinational conglomerate corporation operating in the fields of worker safety, US health care, industry and consumer goods. The company manufactures over 60,000 products under various brands.
Product Portfolio: The Company’s offer wide range of product portfolio under the following categories: abrasives, adhesives, sealants & fillers, sealants & fillers, advanced materials, building materials and cleaning supplies.
Key Development: In 2017- 3M has planned to invest US$40 million in its Springfield, MO site, where industrial adhesives and tapes are manufactured for the aerospace industry and heavy industrial customers around the world..
The global thermal transfer tapes market report would provide access to an approx: 77 market data table, 75 figures and 180 pages.
