Labels, Tapes And Films Market Analysis

Labels, Tapes And Films Market Analysis

In 2020, tapes generated over USD 1.5 billion owing to their growing usage in consumer electronics and home appliances. Electronic manufacturers utilize a variety of tapes including transfer tapes, packaging tapes, masking & sealing tapes, specialty tapes, etc., depending upon the requirement. Adhesive tapes are gaining substantial attention from end-users owing to their properties of excellent waterproofing, noise dampening, stress reduction on parts, etc.
 

The growing need for reliable and faster bonding solutions in the industry together with increasing electronics demand in major parts of the world will be key drivers of segment growth in the industry by 2027. The electronics industry is also undergoing miniaturization owing to growing consumer preference for compact & lightweight products, which is estimated to enhance segment growth from 2021 to 2027.
 

Smartphones are estimated to generate over 2.5 billion square meter in labels, tapes and films market for electronics industry by 2027. This is due to a rise in smartphone sales in emerging countries over recent years. In 2019, global smartphone sales reached 1.5 billion units and is expected to grow at a considerable rate by 2027. This can be contributed to a rise in disposable income, economic growth, and the growing affinity of consumers to upgrade their existing smartphones. Furthermore, government initiatives to promote the manufacturing of smartphones in India, China, etc., are expected to increase the share of new players in the smartphone sector by 2027.
 

The Asia Pacific labels, tapes and films market for electronics industry is estimated to generate a market revenue of USD 3.2 billion by 2027, growing at a CAGR of 5.5%. The growing electrical and electronics output in countries including China, Japan, India, South Korea, and Taiwan are driving product share in the region. China accounted for over 35% share in the global electronics product output followed by Japan which accounted for a 12% share in the global output in 2017. Key factors driving the demand for consumer electronics in the Asian market are propelling a surge in the demand for low-cost electronic goods, increasing disposable income of people, rising penetration of low-cost devices, etc.