FELTON, California, December 18, 2018
FELTON, California, December 18, 2018 /PRNewswire/ --
The global surface mount technology (SMT) carrier tape market size is expected to reach USD 144.0 million by 2025. Increasing demand for electronic components in the manufacturing sector including automotive, consumer electronics, medical devices, and industrial automation is expected to boost the market growth in near future. Furthermore, increasing preference for Electric Vehicles (EVs) in major economies including Germany and China on account of rising concerns regarding harmful emissions is expected to fuel the demand for passive components, thereby augmenting market growth. Raw materials, such as, paper and thermoplastics including polycarbonate and polystyrene are used to manufacture SMT tapes. Crude oil is expected to remain one of the key commodities used in plastic production.
Fluctuating crude oil prices are expected to put additional pressure on plastic manufacturers. Furthermore, the prices of raw materials, especially, pulp and paper is increasing at a steady pace. These factors may hamper the market growth. Asia Pacific leads the global market on account of expanding manufacturing sector in automobiles, consumer electronics, and medical device industries in countries like China, India, Taiwan, Singapore, Japan, and Indonesia. Favorable government policies are supporting electronic component manufacturing, thereby boosting the regional product demand. For instance, the Chinese government provides subsidy to Taiwanese manufacturers if they hire local workers.
India is one of the emerging markets for white goods and consumer electronics. The government of India has started programs like Digital India and Make in India, which encourage electronic component manufacturing. The government has also allowed 100% Foreign Direct Investment (FDI) for the Electronics Systems Design & Manufacturing sector, which, in turn, is projected to boost the product demand. Moreover, in July 2018, Samsung announced that it will be expanding its manufacturing unit by investing USD 745.82 million to increase the production capacity from 68 million to 120 million devices. Thus, favorable government initiatives coupled with demand for mobiles and electronic products are expected to propel the demand for SMT carrier tapes in India.
Browse full research report with TOC on "Surface Mount Technology (SMT) Carrier Tape Market Size And Forecast, By Product (Plastic SMT Tape, Paper SMT Tape), By Application (Consumer Electronics, Communication, Healthcare, Automotive, Industrial) And Trend Analysis, 2015 - 2025" at: https://www.hexaresearch.com/research-report/surface-mount-technology-smt-carrier-tape-market
The advent of energy-efficient electronic components including passive components due to escalating demand for smart electronic devices is also likely to support market growth. On a global level, the sales of electronic circuit components from exports was estimated to USD 629 billion in 2017. Since 2013, exports of these components increased by 24% for all the exporting countries. Asia led with 86% of the global market share in 2017. Europe held the second position and accounted for around 7.0% market share, while North America held 6.0% of the total market share. Stringent government regulation to reduce carbon footprint and plastic usage is forcing manufacturers to develop biodegradable embossed carrier tape.
For instance, in August 2017, 3M introduced polycarbonate carrier 3000 tape, which is a recyclable, carbon-filled thermoplastic polymer film. Furthermore, carrier tape machine manufacturers are adopting integration strategy owing to the increasing demand from healthcare, automotive, and consumer electronic sectors. Moreover, manufacturers are relocating their units in China and Taiwan to reduce production cost. The global SMT carrier tape market is moving towards fragmentation. 3M; Advantek, Inc.; Carrier Tech Precision Co., Ltd.; Taiwan Carrier Tape Enterprise Co., Ltd.; Oji F-Tex Co., Ltd.; ITW ECPS; C-Pak Pte. Ltd.; Laser Tek Taiwan Co., Ltd.; Nihon Matai Co., Ltd.; and Peak International, Ltd. are the prominent companies in the market.
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Hexa Research has segmented the global SMT Carrier Tape Market report based on product, application, region:-
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