It is anticipated that the global market for adhesive films will reach over US$ 97 billion by the year 2032 growing at a CAGR of 5% during the forecast year 2024 to 2032. In the year 2020, the global market for adhesive films had a value of US$ 60 billion. In the automotive industry, the need for adhesive films has increased as a result of the widespread application of plastic and composite materials in the construction of automobiles.
The market for adhesive tapes is expected to grow at a CAGR of 6.2% throughout the forecast period of 2024 to 2032 with the global market revenue that is expected to crossover US$ 80 billion by 2031. The demand for adhesive tapes is being driven by factors such as the expanding use of sticky tapes across a variety of industries, the increasing urbanization of populations, and the improvement of healthcare systems. These tapes make it easier to package since they can hold the layers of packaging products together, which in turn simplifies the process of transporting packaged products.
Adhesives & Sealants market was valued at USD 51,745.3 million in 2017 to USD 79,450.8 million by 2026, expected to grow at a CAGR of 4.9% between 2018 and 2026. Adhesives & Sealants find its applications in varied end-use industries such as paperboard & packaging, building & construction, woodworking, transportation, footwear & leather, healthcare, electronics, and others.
One of the major factor driving the global market for 1, 3 –Diphenylguanidine is the rising demand from the rubber industry 1, 3 –Diphenylguanidine. 1, 3 –Diphenylguanidine is mainly used as accelerators for vulcanization of rubber. It is also used as a secondary accelerator with thiazoles and sulphenamides in natural rubber and styrene-butadiene rubber compounds. Rubber is a material which is used in many applications such as tires in automobiles, footwear industries and so on.
The global adhesives and sealants market is anticipated to reach $90 by 2030. A sealant is a semisolid substance used to prevent fluid leakage, whereas an adhesive is a chemical compound that adheres two surfaces together to form a single unit. Due to their strong shear and tensile strengths, adhesives are ideally suited for holding and bonding applications. In contrast, sealants are used to fill gaps and resist relative substrate movement. Adhesives and sealants are formulated with similar chemicals and technology and are utilized in a variety of industries, including paper packaging, woodworking, footwear manufacturing, building & construction, electrical & electronics, and automotive, among others.
Due to its rapid working time, adaptability, and quick adhesion, adhesive tape has become the latest market trend. These tapes are gaining popularity among engineers in industries ranging from automotive to aviation. Adhesives serve as an alternative to mechanical fasteners for all types of assemblies and can be manufactured with a variety of viscosities and drawn into films and tapes according to the application's needs. In addition, these are becoming increasingly popular because of the low labor and production costs.
In electrical and electronic gadgets such as tablets, smartphones, laptops, and others, adhesives, and sealants are frequently utilized to attach various components due to an increase in technological breakthroughs and research and development efforts. This is one of the primary growth drivers for the adhesives and sealants market. In addition, factors such as a growing population, a rise in urbanization, and an increase in government spending have led to a major expansion in the building and construction industry, where adhesives and sealants are frequently utilized to fill cracks, gaps, and seal joints. This has resulted in an increase in demand for adhesives and sealants in the building and construction industry, hence driving market expansion.
Acute Market Reports provides companies in the adhesives and sealants market with in-depth market research and expert consulting services. Our clients are able to make well-informed business decisions at the optimal time because of the forward-looking perspective offered by Acute Market Reports. To ensure that our clients all around the world receive the highest quality strategic research solutions, we work with a comprehensive range of industry stakeholders.
