The latest study conducted by Global Market Insights Inc. claims that the global pressure sensitive adhesives market size  could exceed USD 15.4 billion by 2032. Rising incorporation of tapes and adhesives in the automotive sector, expanding product demand from the packaging market, and increasing investments towards medical industry consolidation are expected augment market outlook.

Pressure-sensitive adhesives are extensively used as an interior bonding solution across both residential and commercial buildings. Pressure sensitive tapes are relatively easy to use and provide strength, quality, and durability for the bonding materials used in the interior surfaces of buildings.

In terms of COVID-19 impact, Europe has been a severely hit region, reporting heavy casualties, and economic loss. The region is still dealing with the aftereffects of the pandemic in the form of an acute energy crisis and inflation. As the European Union look for ways to kickstart economic recovery for the member nations, it has turned to infrastructure development initiatives to achieve that goal.

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Highlighting some of the major trends streamlining pressure sensitive adhesives industry growth through 2032

Increasing opportunities from an expanding consumer electronics sector

With the world rapidly entering the world of connected everything, revenue prospects for pressure sensitive adhesives from consumer electronics are expanding at an exponential rate. Innovations in the field of artificial intelligence, 5G, big data, and virtual reality are attracting the attention of the general public, which is actively fueling a new round of upgradation and popularization of novel consumer electronics.

Pressure sensitive adhesives play varied roles in the electronics sector. For instance, in wireless charging, they help bond, fix, and also protect the modules at the transmitting and receiving end. With respect to displays, optical pressure-sensitive adhesive tapes are used to bond different types of optical materials to the screen. Request for a free sample of this research report @ https://www.gminsights.com/request-sample/detail/2385 

Rising revenue prospects from the expanding super and hypercar market

While pressure sensitive adhesives and tapes are commonly used in automotive applications, they are becoming increasingly popular in the super and hypercar sector. These vehicles, which prioritize performance and speed above all else, are ideal application avenues for pressure sensitive tapes and adhesives owing to their lightweight nature in comparison to traditional mechanical joints.

With environmental and emission norms slowly tightening around hypercars and supercars, many players in the field are on their last iterations of the classic ICE powered vehicles, with many already shifting to electric drivetrains. The fact that many legacy sportscar manufacturers are going electric is spurring sales of their fossil fuel fired cars. In 2022, Italian supercar icon, Lamborghini clocked its best year of sales yet in India, led by the popularity of its supercharged SUV, Urus. Meanwhile, fellow legacy supercar brand, Ferrari also reported record sales, with shipments rising more than 29% year on year.

Overall, spurred by the inflow of capital from the three avenues outlined above, the demand for pressure sensitive adhesives is likely to rise exponentially. Apart from these three avenues, increasing investments from the medical sector, which is striving to make itself pandemic proof is set to create more growth prospects for the industry.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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