$4.69Bn Electrical And Electronic Adhesive Tape Market

The Global Electrical and Electronic adhesive tape market was valued at US$3.171 billion in 2018 and is estimated to grow at a CAGR of 6.74% to reach a market size of US$4.691 billion by 2024.

Adhesive tapes for electronic and electrical equipment are specifically designed by taking their conductivity and heat resistance in mind. These tapes allow manufacturers to replace screws and bolts to reduce the size of the devices, which is resulting in their rising adoption in the manufacturing of smartphones, tablets, smartwatches, laptops and more.

Good growth in consumer electronics demand owing to rising disposable income is boosting the electrical and electronics adhesive tape market growth. Thus, the market is expected to grow at a substantial rate over the forecast period on account of growing investments in the electronics sector in the emerging economies.

Drivers

• Rising investments in the electronics sector.
• Burgeoning demand for consumer electronics.

Restraints

• Cyclical nature of electronics and semiconductor industry.

Industry Update

• In February 2019, Indian Government approved the National Electronics Policy with an aim to promote domestic electronic manufacturing and export.