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Epoxy Film Adhesives Sales Expected to Rise at CAGR of 4% by 2031: Fact.MR Survey
NEW YORK , July 13, 2021 /PRNewswire/ -- As per an analysis by Fact.MR, the global film adhesives market is estimated exhibit positive growth, expanding at a CAGR of 4% during the forecast period 2021 to 2031. Owing to the increasing application across the end use industries such as aerospace, automotive, and electrical & electronics, the market for film adhesives is likely to reach a valuation of US$ 2 billion by the end of 2031.
The market registered a sluggish growth at a CAGR of 2% in 2020, which can be attributable to restrictions implemented to contain COVID-19. Restricted growth caused the market to close at around US$ 1 billion . However, with ongoing expansion in the aerospace industry, the demand for film adhesives is expected to spur.
According to a study by the Aerospace Industries Association, the U.S aerospace & defense industry has registered lucrative gains, accounting for sales of over US$ 909 billion in 2019. Thus, with increasing air travel, the demand for new aircraft is estimated to rise, in turn, creating sales opportunities for film adhesives.
Electrical & electronic industry is estimated to dominate the end use segment, accounting for over 40% of the market share through 2031. Owing to the increase in use of film adhesives for bonding internal and external components such as switches, circuitry, wires, among others, the industry has become a center point for the expansion of the market.
says the Fact.MR analyst.
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The market for film adhesives is highly competitive due to the presence of multiple regional and global market players. Manufacturers are increasingly investing in research and development (R&D) for introducing novel products to strengthen their market footprint and increasing their market share. For instance,
Some of the prominent players operating in the film adhesives market profiled by Fact.MR are:
Fact.MR, in its new report, offers an unbiased analysis of the global film adhesives market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in film adhesives market with detailed segmentation:
Epoxy Curing Agents Market - In the future years, the growing demand for epoxy curing agents as a lightweight raw material in numerous industrial applications will continue to have a significant impact on market dynamics. The need for epoxy curing agents in a number of industrial applications is driving incremental growth in the epoxy curing agents market. Epoxy curing agents are projected to stay in high demand, since they are expected to contribute to market growth.
Aerospace Coatings Market - The demand for high-quality aerospace coatings is increasing as fleet sizes grow, ensuring longer lifespans by improving the durability of aircraft bodies to avoid corrosion, UV radiation, and abrasion caused by frequent use. Modern air travel places a strong emphasis on long-distance travel with low operating costs, which necessitates the use of aerospace coatings. In the long run, this allocation is likely to help aircraft coatings manufacturers.
Coating Additives Market - Manufacturers are progressively working on improving coating performance and creating multi-functional and hybrid coatings, as well as novel eco-friendly products such as green coatings, nano-coatings, and other environmentally friendly products. Manufacturers would be able to adjust to new regulatory dynamics as a result of these advances. Furthermore, these advancements are expected to be application-specific, expanding the coating additives market's customer base.
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