Capsule Coffee Machine Market Size Worth $1.78 Billion By 2025

The global capsule coffee machine market size is anticipated to reach USD 1.78 Billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.8% over the forecast period. The market demand is majorly driven by the prominent use of single serve coffee, especially in the western countries such as U.S., U.K., Germany, and Switzerland. Capsule machines for this beverage are designed with easy operational features, lighter volume, and are available at a cheaper rate as compared to the traditional ones.

Americans alone consume about 136 billion cups of coffee every year, with an average consumers drinking approximately 3 cups each day, and spending on around $1100 annually. Consumers drink up to 500 billion cups of this beverage annually at the global level, with U.S. ranking as the second largest importer of coffee beans, after Europe. High consumption of this beverage in these regions is expected to drive the market.

Household application of capsule coffee machines is expected to expand at the highest CAGR of 5.0% over the forecast period. Growing trend of adoption of premium and specialty beverages induced with different flavors and origin is gaining popularity. This trend is expected to drive the demand for such capsule machines in the household sector.

Countries having high consumption rate such as U.S., Germany, Switzerland, and Japan are expected to account for a significant share in the global market. Consumers in the western countries prefer home brewed coffee and hence it is anticipated to fuel the market growth. According to the National Coffee Association trends, 29% of the U.S. households purchased single serve brewers in 2017.

The capsule coffee machine market in Asia Pacific is expected to expand at the highest CAGR of 12.7% from 2019 to 2025. Rising consumer awareness regarding technologically advanced products have initiated the sales of these products on a large scale in the region. Developing countries such as India and China are expected to contribute to the regional market growth owing to growing cultural trends and rising inclination towards consumption of coffee.

Moreover, this region is witnessing increasing establishment of cafes and coffee shops, which is anticipated to widen the scope of this market. In addition, China’s aging demographics and busy lifestyles are expected to popularize the trend of quick refreshment. This, in turn, has inclined them towards single-serve and quick offerings for household consumption, thereby fueling the market growth in the near future.

Moreover, Chinese millennials are significantly contributing to coffee consumption, resulting in about 20% growth. Starbucks’ initial exposure to coffee culture in China and independent beverage shops in cities such as Shanghai and Beijing are driving the culture. This, in turn, is expected to increase the single serve trend, thereby propelling the sales of capsule machines for this beverage.

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https://www.grandviewresearch.com/industry-analysis/capsule-coffee-machine-market

Further key findings from the report suggest:

The global capsule coffee machine market is expected to expand at a CAGR of 13.3% from 2019 to 2025
The commercial application segment was valued at USD 109.2 million in 2018, whereas the household sector is expected to witness the fastest growth during the forecast period
Asia Pacific is the fastest growing region for capsule coffee machines, expanding at a CAGR of 12.7% from 2019 to 2025
Top players’ operating in the market are Keurig Green Mountain, Inc.; Nestlé Nespresso SA; Dualit Limited; Jacobs Douwe Egberts Pro; Starbucks Corporation; Dunkin Brands; LUIGI LAVAZZA SPA; Koninklijke Philips N.V.; and illycaffè S.p.A.

Air Coolers Market Size Worth $2.5 Billion By 2025

The global air coolers market size is expected to reach USD 2.5 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.8% over the forecast period. The market growth is attributed to affordability and efficient cooling, less power consumption as compared to AC, usage in outdoor space, and product innovation. Moreover, the product acts as a humidifier in dry weather and is environment and eco-friendly, thereby driving its demand.

Increasing demand for energy efficient, low power consuming, and eco-friendly cooling products is driving the market demand across the globe. These operate through the principle of evaporation. It uses simple air moving technique that pulls fresh air from outside driving through wet cooling pads, which absorb the heat from the surrounding and does not make it dry like ACs.

Air cooler does not use any harmful cooling agents such as CFC, HCFC, and other hydrofluorocarbons used in AC to cool the surrounding, thereby making it more eco-friendly. Growing concerns over energy consumption by ACs are increasing the inclination of consumers towards air coolers. They lower approximately 80% – 90% of electricity bill as compared to ACs, thus making them economical and energy efficient in the longer run.

Air coolers are not efficient to be used in humid and coastal areas, which is acting as a restraint to the market growth. However, product innovation is boosting the demand among developing economies. Technologically advanced products are penetrating the market in both developed and developing economies at a higher rate.

Remote control function for quick access to settings, speed of fan, and multi speed setting are finding it place in the market at higher rate than tradition air coolers. Innovative cooling pads such as Honeycomb also known as Cellulose cooling pad are decreasing the maintenance cost and increasing the cooling capacity.

By type, the air coolers market is segmented as tower, dessert, and others. Tower accounted for the largest market share in 2018. It is anticipated to register the fastest CAGR of 11.7% over the forecast period owing to the stylish design and compact nature. Consumers are more inclined towards these product types as they are easily portable and more economical. Moreover, they are compatible in dry as well as humid air, thereby making it a preferred choice among consumers.

Dessert air cooler and other air coolers such as personal, window, and mini portable air coolers are expected to witness significant growth over the forecast period. Dessert cooler held the second largest share in the market owing to its cooling capacity as it is larger in size. It needs to be kept outside the room to maintain its cooling capacity, if kept inside the room, the cooling capacity is affected.

By application, the market is segmented into residential and commercial. Residential accounted for the largest share of 80.0% in 2018 and is anticipated to witness the fastest growth over the forecast period. Rising temperature and increasing disposable income of growing middle class are expected to fuel the product demand in the residential segment.

Product demand is growing in the commercial segment due to its application in open air functions, where ACs cannot be installed. However, air ducts and central air conditioners are preferred for cooling as commercial space has a larger area. Groceries and retailer stores have showcased interest in adoption of air coolers owing to growing temperature and preference for cooler working environment.

Asia Pacific was the largest market in 2018, accounting for a share of 60.0%. The region is anticipated to witness significant growth owing to increasing temperature and substantial climate change. Demand is driven by adoption of air coolers in the residential as well as commercial sectors due to preference for cooling working environment and economically cheaper cooling product. In Asia Pacific, India holds the largest market share owing to large middle class population. Moreover, the country is the fastest growing market in the region owing to increasing number of manufacturers and competitive pricing.

Players in the industry strategize to expand globally by entering into niche markets through mergers and acquisitions and joint ventures. For instance, Symphony acquired Munters Keruilai Air Treatment Equipment Co., Ltd. to expand its reach in China.

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https://www.grandviewresearch.com/industry-analysis/air-coolers-market

Further key findings from the report suggest:

By type, tower accounted for the largest share in 2018 due to stylish design and compact nature
India held the largest market share in Asia Pacific in 2018 owing to large middle class population, increasing manufacturers, and competitive pricing
Key players operating in the global air coolers market include Symphony Limited; Bajaj Electricals Limited; Havels India Limited; Honeywell International Inc.; Aolan (Fujian) Industry Co., Ltd.; and Luma Comfort.

Hair Dryer Market Size Worth $10.05 Billion By 2025

The global hair dryer market size is expected to reach USD 10.05 billion by 2025 registering a CAGR of 5.1%, according to a new report by Grand View Research, Inc. Increasing number of professional salons across the globe is expected to be the key factor for the increased sales of hair dryers. In addition, rising awareness about personal grooming is propelling the product demand. Corded products was the largest segment in 2018. Major manufacturers including Conair Corporation, Panasonic Corporation, Dyson Ltd., and Koninklijke Philips N.V. are introducing newer products to gain maximum market share.

For instance, in April 2018, Dyson Ltd. launched its most advanced product ‘Dyson Supersonic Hair Dryer’. The product features one of the lightest and smallest motor that can run at a speed of 110,000 rotations per minute. This dryer is designed for the precise air flow without any temperature fluctuation, which reduces the risk of hair, skin, and scalp damage due to heat. Thus, product and technological advancements are also projected to boost the market growth over the forecast period. Asia Pacific is expected to be the fastest-growing regional market at a CAGR of 5.6% from 2019 to 2025.

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https://www.grandviewresearch.com/industry-analysis/hair-dryer-market

Further key findings from the report suggest:

North America is the largest regional market; however, Asia Pacific is expected to witness the fastest CAGR of 5.6% from 2019 to 2025
Major companies in APAC have undertaken several strategies including extensive R&D and M&A to cater to the increasing demand for advanced products, which is a key contributing factor for the market growth
For instance, in November 2018, Panasonic Corp. launched two products, ‘Nanoe’ & ‘Double Mineral Hair Dryer EH-NA98’ in Malaysia
These products offer controlled temperature air flow, which reduces the hair and scalp damage due to heat
Corded products held a share of more than 80% in 2018. The cordless product segment is expected to register the fastest CAGR during the forecast years
Some of the Key companies in the hair dryer market include Conair Corp., Panasonic Corp., Dyson Ltd., Koninklijke Philips N.V., Sharp Corp., Revlon, TESCOM Co., Beauty Elite Group, Drybar, LLC, and Remington

Bearings Market Size Worth $186.1 Billion By 2025

The global bearings market size is expected to reach USD 186.1 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 9.1% during the forecast period. Bearings are essential in almost every application that involves motion and they help minimize friction between different mechanical components in several industrial machinery and equipment, resulting in reduced energy consumption. Hence, this machine element finds application in all industries, ranging from automobiles, household appliances, and aerospace to industrial machinery, using machinery or related motor-driven linkages.

The bearings market is estimated to witness a considerable growth in the forthcoming years, ascribed to the aim to achieve energy efficiency. Energy saving and bearings go hand-in-hand. The main objective of this element is saving energy by reducing friction, be it during the rotation of shafts of a transmission or the wheel of a vehicle. Additionally, rising demand for commercial vehicles is expected to catapult the demand from automotive sector across the world.

Technological advancements including smart bearings, development of advanced materials and lubricants, and integrating sensor units, are anticipated to provide high growth potential to the market. With the objective of enhancing performance, vendors are incorporating sensor units of the product. Sensor units help digital monitoring of rotation speed, axial movement, load carrying capacity acceleration, and deceleration. These units are presently being used in conveyors forklifts, road rollers, and electric motors. Furthermore, the integration of IoT capabilities facilitates manufacturers to monitor bearing operations constantly.

The market is mature with a dynamic demand closely related to the state of engineering industries and capital goods. Companies are offering integrated products that significantly decrease the number of bearings that go into an assembled product and reduce the overall cost of equipment. This in turn is also increasing the shelf-life and reliability of the product. Product manufacturers are increasingly investing in R&D to address the intensifying competition by providing innovative products.

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https://www.grandviewresearch.com/industry-analysis/bearings-market

Further key findings from the report suggest:

The development of cost-effective wind energy generating product has resulted in their increased espousal within wind turbine applications that aid in increasing energy production, reduce lubricant consumption, and enhancing turbine performance and reliability
Roller bearings is anticipated to emerge as the largest product segment by 2025 and outpace ball bearings, ascribed to their ability to carry heavy loads and shock or impact loading
Railway and aerospace segment is estimated to witness the fastest CAGR of over 8.0% over the foreseeable years, due to their growing demand in applications such as shock absorbers, gearboxes, doors, and tilting mechanisms to name a few
Asia Pacific is anticipated to witness the fastest CAGR of over 5.0% by 2025 attributed to the increased demand for fuel-efficient passenger vehicles, industrialization, and swift infrastructure development
The key competitors operating in the bearings market include SKF, NSK, Timken, Schaeffler, NTN, and JTEKT. Various leading companies are investing in high-level R&D to come up with innovative solutions. These solutions are focused on being cost-effective as well as on enhancing the overall quality of the end-product

Military Actuators Market Size Worth $1.7 Billion By 2027

The global military actuators market size is expected to reach USD 1.7 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.2% from 2020 to 2027. The development of advanced weapons, increasing demand for electric and electromagnetic actuators from the aerospace and defense industry, and the rise in homeland security concerns are some of the major factors driving the market.

Military actuators play a crucial role in the military and defense sector. They are used in motion control to monitor velocity and speed. The use of actuators in the military and defense industries helps to reduce energy consumption. The actuators are installed to enhance the fighting capabilities, which is expected to favor the market growth over the period of time.

Increasing demand for commercial and military aircraft propels the demand for military actuators. The rise in demand for protection applications in marine and aircraft is contributing to market growth. In addition, technological advancement and innovation in ballistic protection are favoring market growth.

The market can be segmented based on components, system, type, and application. The components include cylinders, servo valves, drives, manifolds, and others. Servo valves hold a significant share in the market owing to their use in various applications. Cylinders are projected to witness significant growth over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/military-actuators-market

Further key findings from the report suggest:

The cylinders’ component segment is projected to expand at a significant CAGR of 5.5% from 2020 to 2027. Servo valves are used in various military applications, and thus are projected to gain a significant share in the market in the years to come
The hydraulic actuators system segment held the largest share of 24.5% in 2019. However, electrical actuators are projected to replace the hydraulic actuators over the forecast period
The linear actuators type segment is expected to expand at a CAGR of 5.6% from 2020 to 2027 on account of its high demand in the armored vehicles in land forces
North America dominated the market with a share of 33.7% in 2019 on account of rising investments in military and defense, rapid technological development, and increasing homeland security concerns
The major manufacturers emphasize on innovation through extensive R&D for the production of advanced actuators for use in armored vehicles and military equipment.

Smart Bathroom Market Worth $6.69 Billion By 2027

The global smart bathroom market size is anticipated to reach USD 6.69 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.5% from 2020 to 2027. Rising evolution of IoT owing to high internet penetration across countries and regions in developing a wider application of digital technology into various bathroom fittings and fixtures, thereby growing popularity of smart bathrooms. In addition, rising penetration of smart homes across regions is paving the way for smart bathrooms in these smart households.

Increasing smart home penetration across the developed nations of America and Europe is positively impacting the demand for the devices. According to the European Commission, Europe Smart Home revenue is expected to represent USD 19 billion by 2021 with the help of its massive markets in the U.K. and Germany. Additionally, the surge in home furnishing and fittings is expected to positively impact the growth of the market. According to the Leading Indicator of Remodeling Activity (LIRA), home improvement spending rose at 6% annually in 2019. Moreover, significant investment in lifestyle-enhancing projects compared to traditional necessary maintenance is seen rising among homeowners.

Moreover, rising adoption of water-saving plumbing fixtures, which offer sustainable and eco-friendly features in remodeling or construction projects, is helping increase market penetration. The flow rate set by the national standards of the U.S. Energy Policy Act, 1992 set by the federal government for plumbing fixtures has led to water conservation and sustainability. This act also provides rebates to consumers who have replaced plumbing with low-flow alternatives. Thus, the rising need for low flow plumbing fixtures is expected to increase the inclination towards intelligent or smart bathroom fixtures.

In terms of product, the smart toilet held a dominant position in the market in 2019. High-tech or smart toilets are widely being used among households and commercial properties owing to various features incorporated in the fixture, such as hands-free flushing, heated seats, motion-activated seats, and built-in night lights.

The commercial application segment emerged as the largest application segment with a revenue-based share of 61.2% in 2019. According to a report published by TOPHOTELCONSTRUCTION, in 2018, Brazil had witnessed significant hotel construction in the country, thereby representing about 50% of the Central and South America’s construction pipeline. As of 2019, there were about 329 hotels with 57,735 rooms under construction, and new projects were scheduled to start construction in the next 12 months, which will include 207 hotels and 34,712 rooms, wherein 181 hotels with 31,357 rooms are in their early planning stage.

North America dominated the market with a revenue-based share of 40.2% in 2019. An increasing number of commercial buildings in the region owing to the growth of the tourism industry is expected to boost the demand for smart bathrooms.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/smart-bathrooms-market

Further key findings from the report suggest:

The smart toilet product segment is expected to witness the fastest growth from 2020 to 2027
The commercial application segment was valued at USD 1.84 billion in 2019
Asia Pacific is expected to witness the highest growth over the forecast period with a revenue-based CAGR of 11.5% from 2020 to 2027.

Unsaturated Polyester Resin Market Size Worth $18.9 Billion By 2027

The global unsaturated polyester resin market size is anticipated to reach USD 18.9 billion by 2027, expanding at a CAGR of 6.3%, according to a new report by Grand View Research, Inc. Developments in the building and construction and tank and pipes are likely to drive the demand for the isophthalic in these end-use segments. Increasing use of environment-friendly and energy saving products is also expected to influence the market, positively.

Favorable government regulations and initiatives to develop the infrastructure, such as the provisions for subsidy, increasing foreign investments and trade promotion are projected to augment product demand over the forecast period. Some of the initiatives are LaGuardia and O’Hare airport construction project in U.S., Beijing Airport expansion in China, and Make in India initiative by the government of India.

Increased demand for the products which are capable of working in high-temperatures and corrosive environment is anticipated to foster usage in the building and construction end-use industry. Unsaturated polyester resin (UPR) composite has enabled consumers to pick end-use specific product from a wide range of options. The widening of product distribution channels has also made these products readily available to the users, thus acting as a driving force for the growth of the market for UPR.

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https://www.grandviewresearch.com/industry-analysis/unsaturated-polyester-resin-upr-market

Further key findings from the repot suggest:

Orthophthalic occupied the largest revenue share on account of its higher price and increasing usage in construction, electronics, and automotive sectors
DCPD emerged as the fastest growing product segment in Europe and North America as it exhibits properties such as high deflection temperature, high resistance to chemical corrosion, and high impact resistance
Rising demand for environment-friendly and energy saving products and solutions is expected to drive the unsaturated polyester resin (UPR) market
The marine end-use segment is projected to exhibit the highest CAGR over forecast period
Stringent environmental rules and regulations and focus on indoor air quality is anticipated to drive the market
Increasing investment from government and private institutions in the building and construction sector is projected to contribute to the demand for these resins
Key players include INEOS, BASF SE, Polynt, Koninklijke DSM N.V., U-PICA Company. Ltd., Eternal Materials Co., Ltd., Satyen Polymers Pvt. Ltd., Dow, UPC Group, Scott Bader Company Ltd., Tianhe Resin Co., Ltd., and LERG SA.

Paint Protection Film Market Worth $484.7 Million By 2027

The global paint protection film market size is projected to reach USD 484.7 million by 2027, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 6.9% over the forecast period. Rising consumer awareness regarding vehicle paint protection against bug splatters, stone chipping, and abrasions is anticipated to fuel the demand for paint protection film (PPF).

paint protection films market is moderately fragmented in nature and is moving towards consolidation. Abundant availability of raw materials and presence of several major players with adequate production capacities have resulted in an increased competition among the players. Product durability, price, and environment friendliness are estimated to be the key factors influencing buyer decision.

The product is widely available on retail as well as online platforms. However, its installation requires expertise and specially trained personnel for optimum results. Hence, a majority of players also provide after-purchase services. Furthermore, a few players have established contracts with local installers to strengthen their geographical presence.

Frequent variations in raw material pricing and declining automotive production in major economies including U.S., Japan, and Korea are expected to act as a challenge for market players. However, rapid growth of other application sectors including electrical and electronics and aerospace is likely to open new avenues for them.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/paint-protection-film-market

Further key findings from the report suggest:

In 2019, the automotive and transportation segment dominated the paint protection film market in terms of volume, wherein a majority of the demand is derived from the passenger cars segment owing to the superior color protection properties of PPF
In terms of value, the aerospace and defense segment is estimated to register a CAGR of over 12.0% over the forecast period. This is attributed to increasing investments in the aircraft and defense sectors in China, U.S., and India
Asia Pacific dominated the market with USD 109.5 million in 2019 since it is the largest producer and consumer of automotive as well as electrical and electronic products
Key players operating in the market are 3M Company; Eastman Chemical Company; KDX Composite Material; XPEL, Inc.; and Avery Dennison Corporation
Mergers, integrations, tie-ups with third-party installers, innovative manufacturing techniques, and wide distribution channel are projected to be the key success factors for manufacturers to sustain competition.

Bearings Market Size Worth $186.1 Billion By 2025

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https://www.grandviewresearch.com/industry-analysis/bearings-market

The development of cost-effective wind energy generating product has resulted in their increased espousal within wind turbine applications that aid in increasing energy production, reduce lubricant consumption, and enhancing turbine performance and reliability
Roller bearings is anticipated to emerge as the largest product segment by 2025 and outpace ball bearings, ascribed to their ability to carry heavy loads and shock or impact loading
Railway and aerospace segment is estimated to witness the fastest CAGR of over 8.0% over the foreseeable years, due to their growing demand in applications such as shock absorbers, gearboxes, doors, and tilting mechanisms to name a few
Asia Pacific is anticipated to witness the fastest CAGR of over 5.0% by 2025 attributed to the increased demand for fuel-efficient passenger vehicles, industrialization, and swift infrastructure development
The key competitors operating in the bearings market include SKF, NSK, Timken, Schaeffler, NTN, and JTEKT. Various leading companies are investing in high-level R&D to come up with innovative solutions. These solutions are focused on being cost-effective as well as on enhancing the overall quality of the end-product

Film Adhesive Market Size Worth $477.4 Million By 2027

The global film adhesive market size is anticipated to reach USD 477.4 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.3% from 2020 to 2027. Increasing utilization of film adhesive in medical equipment and other related applications in the industry is anticipated to boost market growth over the forecast period.

Film adhesives have a thin layer of adhesive backed by a peelable liner. Their phenomenal properties including lightweight, high strength, and strong structural bonding give them a competitive edge over other alternatives in the market. As a result, they find applications in various end-use industries, such as toys, aircrafts and cars, appliances and electronic instruments, medical equipment, building and construction, and packaging.

The product is available in various forms, such as thermoset, thermoplastic, and pressure sensitive, and their usage varies upon their application. Thermoset film adhesive requires heat and pressure to attach to the substrate, making an irreversible bond, which enables it to resist temperature. Thermoplastic needs heat for getting attached and can be detached with heat itself. Pressure sensitive, as the name implies, is attached to the substrate with pressure and no heat.

Based on application, electronics and electrical held the largest share in the market. The product is used for joining intricate shapes in the electronic systems. For instance, in laptops, they are used for mounting labels, contamination control, gasket bonding, LCD assemblies, low resistivity electrical grounding and shielding, and thermal management. Their usage varies for each consumer good and electronic and electrical equipment.

Automotive accounted for a major share in the market. Film adhesive is used for paint protection in automobiles. For instance, 3M’s scotchgard is a polyurethane film with adhesive backing, which is used for shielding car’s front from debris and dirt. Apart from cars, film adhesive is used by the aerospace industry, especially in interior applications. For example, in aircrafts, it is used to bond decorative laminates to composite panels for interior applications.

North America is expected to witness sluggish growth over the forecast period. This can be attributed to the decline in the industrial production, mainly in U.S., owing to global pandemic crisis of Covid-19. The manufacturing facilities have halted their production and the raw material supplies are delayed owing to transport-related issues. The raw materials are unavailable in certain cases because their requirement is more essential in other applications. For instance, alcohol is used in adhesive production but its usage is more urgent in hand sanitizers. The market will take time to stabilize in the region, and hence is anticipated to register a slow growth rate over the forecast period.

The market is characterized by the presence of various leading players, which has resulted in high competition. Technological advancements, long-term contracts, investments in capacity expansion, and mergers & acquisitions are some of the key strategic initiatives adopted by the major players of the market in order to increase their revenue share in the industry. For instance, in July 2019, Bostik announced the acquisition of Prochimir, a company that specializes in thermobond adhesive films.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/film-adhesive-market

Further key findings from the study suggest:

By application, the electronics and electrical segment accounted for the largest volume share of 34.7% in 2019. This is attributed to growing demand for film adhesives from the industry. In October 2019, Henkel opened a new adhesive plant in Songdo-dong, South Korea, especially for electronics, which is expected to commence its full production by 2022
The medical application segment is anticipated to register the fastest CAGR of 2.7% in terms of revenue during the forecast period on account of increasing demand from the medical equipment sector, which is further propelled amidst the Covid-19 pandemic situation
Asia Pacific is expected to witness the fastest growth over the forecast period owing to growth in the end-use industries. The industrial output, which is declining across the globe in 2020 owing to Covid-19, is anticipated to be stable in China as manufacturers are resuming their operations in the country
Key players of the market are engaged in expanding their footprints across the globe. The growth in the Asia Pacific market has attracted investments. For instance, in March 2019, tesa SE announced its plans to invest a sum of more than €30 million in the Suzhou site in China for constructing a unit dedicated for production of precision adhesive tapes for the electronics and automotive industries.