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Dicing Tapes Market Sales Revenue Growth Future Trends 2027; COVID-19 to Affect Future Growth Trajectory

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Dicing Tapes Market Sales Revenue Growth Future Trends 2027; COVID-19 to Affect Future Growth Trajectory

June 30
18:30 2021

Dicing tape, a type of backing tape, is being extensively used during the production of electrical and electronic products. Its popularity, particularity in semiconductors, is due to its biggest benefit of easy removal of chips from wafers after the dicing process. It is seen as a crucial requirement for the full-cut dicing of wafers, as it enhances the quality of the die itself. Dicing tape has found application for the dicing of wafers, packaging, glass, and ceramics, among others, positively impacting the growth of the global dicing tapes market.

Consumer preference for single-sided dicing tape, particularly for use in semiconductors, has led to this segment occupying a lion’s share in the global dicing tapes market space. The segment accounted for ~87% of the total dicing tapes market share, amounting to ~US$ 790 Mn in 2018, and expected to hit the ~US$ 1.3 Bn mark by the end of the forecast period (2019-2027).

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Reducing Thickness of Electronic Components to Boost Growth of Market

The growing demand for aesthetically thin electronics has resulted in thinner and more delicate components, the processing of which requires dicing tape. Wafer component processing companies are increasingly inclining towards materials that have not just high additive and impact strength, but also curability that reduces when exposed to UV light. Manufacturers in the market are looking to cater to these specific demands of end users, and are focusing on product innovation to include films that are flexible and expandable as well.

Stakeholders in the market, also mindful of the growing concerns of the negative impact of single-use plastic, are focusing on the research & development of products that use PET, which has less of an impact on the environment, for backing material. PET is gaining popularity, and the segment is expected expand by a volume CAGR of ~7% during the forecast period, despite PO accounting for around two-third of the total dicing tapes market share by volume.

APAC to Remain a Popular Dicing Tapes Market

In 2018, Asia Pacific accounted for over half of the global dicing tapes market, making it the most significant region in the global landscape. This region is expected to hold its place at the top of the table, with a value expected to swell and hit the ~US$ 900 Mn market by the end of the forecast period. This can be attributed in part to the sheer number of electrical and electronic manufacturers in the region, which is responsible for the increase in demand from the region, coupled with the presence of dicing tape manufacturers as well.

However, the market in the Middle East and Africa, which accounted for a small share of the global dicing tapes market in 2018, only accounted for ~US$ 46 Mn, but is expected to expand the fastest at a CAGR of ~6%. This growth can be attributed to the rising demand for semiconductors in the region, along with the growing preference for the miniaturization of electronic devices, a growing trend in the region.

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Dicing Tapes Market: Competition Analysis

The global dicing tapes market is considered to be fairly fragmented, with the top eight players – Nitto Denko Corporation, Lintec Corporation, Sumitomo Bakelite Co. Ltd., Denka Company Limited, Furukawa Electric Co. Ltd., 3M Company, Mitsui Chemicals, and Hitachi Chemical Company, Ltd. – accounting for ~30% of the total share of the landscape. Players in this market are increasingly using strategic manoeuvres such as expansion into developing markets and regions to consolidate their stand in the global landscape. For instance, in 2018, Mitsui Chemicals Inc. opened a polyurethane system house in India, to cater to the needs of local manufacturers.

Players are also increasingly focusing on geographical expansion, which could shape the further evolution of the global dicing tapes market. For instance, in 2018, Furukawa Electric Co. Ltd. established a research center in North America, and an aluminum wire production facility in Vietnam.

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