Market Overview
The structural adhesive tapes market is estimated revenue of USD 11,153.2 million by 2024, and it is expected to grow at a CAGR of 5.5% during the forecasted period, to reach USD 15,413.5 million by 2030. This is attributed to some factors such as; the high demand for better and lasting tapes that is evident in the construction and automotive industries, increasing urbanization, elevated growth rates in the federal industries, and sufficient raw material reserves.
This sector of the structural adhesive industry is now experiencing a shift where managers are opting for adhesives rather than other old-style fasteners. The industry finds applicability in several end-use sectors like; Healthcare, Renewable Energy, Electrical & Electronics, Building & Construction, E- mobility & Others.
The trend in liberal use of micro-electronic and flatter devices in different formations is sustaining the expansion of adhesive tapes within the electrical & electronics business. Example: H. B. Fuller & Co., in October 2017, bought Royal Adhesives & Sealants LLC for $1. 6 billion.
This acquisition was strategic and relied on enhancing the company’s area of core competence, as well as the super-value-added products it offers to sectors such as the electronics and medical industries, transportation, renewable energy, and construction.
The predictions particularly indicate that the structural adhesive tapes market within the sector of hygiene and healthcare is designed to have the most remarkable CAGR. The particular escalation has been attributed to the growing demographic of elderly people and the increasing instances of long-term diseases.
Key Insights
· The double-sided bonding category grips approximately 70% industry share because of high utilization in bonding, increasing, and holding applications.
· Used in commercial, residential, and industrial sectors for bonding and mounting components on doors, windows, wall casings, panels, attractive borders, and protective rails.
· Demand is propelled by development in the construction and building sector, offering solutions for intricate surfaces that need high-pressure durability.
· Reasons like these are propelling augmented utilization of double-sided bonding in numerous applications.
· The PVC category holds approximately 40% of the structural adhesive tapes industry.
· PVC is extensively utilized in automotive, construction, electronics, and healthcare because of its toughness and adaptability.
· Key features: comfortability, non-flagging, super elasticity, non-sticky sides, UV and weather resistance, moisture and chemical resistance, good sealing, flame retardance, non-toxicity, and electrical insulation.
· PVC tapes are perfect for protecting cables, marking, and fulfilling international safety standards.
· The woven/non-woven category is Fast developing, with pressure-sensitive tapes supported by fabrics such as paper and polyester, offering advanced cohesion and better wetting.
· Woven/non-woven tapes are mainly utilized in healthcare for attaching devices such as wearables, medical equipment, and wound care items, utilizing medical-grade acrylic, rubber, or silicon adhesives.
· The healthcare category dominates the industry because of populace development, augmented awareness, increasing per-capita income, improvements in healthcare systems, and growing cases of Western diseases.
· The electrical & electronics category is projected to experience the fastest development, propelled by applications like electrical insulation to avoid power surges and fires in EV batteries.
· Structural adhesive tapes in electronics are utilized for thermal management in LED lighting, PCBs, EV cooling systems, and automotive heat sinks.
· Major applications in electric vehicle batteries include bonding, thermal runaway protection, cell-to-cell bonding, and compression pads, valued for dielectric strength and flame retardance.
· Increasing investments, like the USD 77 billion California High-Speed Rail (CHSR) project, boost industry development.
· APAC grips the largest industry share and is projected to advance fastest because of financial development, augmented investments in construction, healthcare, and automotive, the existence of major players, and acceptance of enhanced technologies.
Source: P&S Intelligence
Write a comment ...