Aramid fibre market is expected to grow at a CAGR of 11% during the forecast period of 2022 to 2030. The market is being driven by the rising demand for lightweight and flexible materials from the automotive industry as well as the military and defence industry for a variety of applications. Furthermore, the restrictions connected to the reduction of carbon emissions drive various industrial participants to search for alternative materials that are not only lightweight but also sturdy and fuel-efficient.
The market for amorphous polyalphaolefin (APAO) for hot melt is expected to grow at a CAGR of 6.5% during the forecast period of 2022 to 2030. One of the most important factors propelling growth in the global amorphous polyalphaolefin (APAO) for the hot melt market is the widespread application of amorphous polyalphaolefin in the manufacturing of hot melt adhesives.
The global asphalt additives market is expected to grow at a CAGR of 7% during the forecast period of 2022 to 2030. Increased road building projects and roofing applications are driving the global asphalt additive market. Asphalt additive is asphalt mixed with concrete to make asphalt concrete. Asphalt additives act as adhesives for making roadways. Asphalt additives can be waterproofing materials. Asphalt additives reduce life cycle costs, stripping, cracking, permanent deformation, ravelling, and pavement thickness.
Anti-static agents’ market is expected to grow at a CAGR of 6.8% during the forecast period of 2022 to 2030. Anti-static compounds have a high ionic concentration while still having a low toxicity level, which allows them to assist avoid static charges. These chemicals lessen a polymer's capacity for attraction, as well as its cohesiveness and adhesiveness. Plastics are currently taking the place of metals in electronic components as a result of their greater flexibility, high-cost effectiveness, and lightweight.
The alopecia treatment market is expected to grow at a CAGR of 7% during the forecast period of 2022 to 2030. An increase in the prevalence of chronic diseases such as depression, hypertension, arthritis, and cancer treatment that tend to cause hair loss in patient's body; a rise in demand for minoxidil drugs for the treatment of alopecia, and an increase in air and water pollution that harms the health of the hair and causes baldness and early breakage are the primary factors that drive the growth of the market.
It is anticipated that the global market for adhesive films will reach over US$ 97 billion by the year 2030 growing at a CAGR of 5% during the forecast year 2022 to 2030. In the year 2020, the global market for adhesive films had a value of US$ 60 billion. The expansion of the adhesive film market is being fuelled by the adoption of bond papers combined with plastics in the frozen food industry for the purpose of printing information. Additionally, as a direct result of the expansion of the automobile industry, there has been a meteoric growth in the need for adhesive films.
The market for adhesive tapes is expected to grow at a CAGR of 6.2% throughout the forecast period of 2022 to 2030 with the global market revenue that is expected to crossover US$ 80 billion by 2030. there is a growing need for lighter automobiles, which is another factor contributing to the expansion of the market for adhesives.
The automotive gyroscope industry is expected to grow 8% from 2022 to 2030. Gyroscopes are orientation sensors found in a range of electronics. As technology has improved, gyroscopes have come a long way since their origin. They've become one of the most important parts of navigation systems as a result.
The global automotive MEMS sensor market is poised for significant expansion, projected to grow from US $3.1 billion in 2024 to an impressive US $10.8 billion by 2033, marking a Compound Annual Growth Rate (CAGR) of 14.85%. This growth is underpinned by the escalating demand for advanced safety features, autonomous vehicles, and electric vehicles, which require precise, reliable MEMS sensors to measure acceleration, pressure, temperature, and magnetic fields.
The automotive semiconductor advanced packaging market is estimated to expand 12% from 2022 to 2030. Advances in packaging technology allow ICs to be connected to boards. It includes fan-out-wafer-level packaging, system-in-package, and 2.5D packaging, among others.The contemporary integrated circuit (IC) packaging sector in the automotive market has seen substantial growth as a direct result of the growing demand for higher levels of automation and performance in automobiles.
