The film adhesives market was valued at US$1.803 billion in 2020 and is expected to grow at a CAGR of 5.32% over the forecast period to reach a total market size of US$2.592 billion by 2027.
Adhesive films are materials that have been coated with adhesives, such as tapes, films, and sheets. These films have a wide range of applications and are simple to apply. Adhesive films are used to bond two surfaces together. RFID, LED lighting, aerospace electronics, construction, portable computers, consumer electronics, and automotive electronics all make use of these films. Polyethene, polyvinyl chloride, polypropylene, polyvinyl acetate, and polyvinyl butyral are among the materials used to make them.
In the electronics sector, adhesive films are used to hold information labels and warning labels. These adhesives are also utilized as an insulating wrap. Similarly, these adhesives are used in the packaging industry to improve the safety of packing materials. After the curative process, adhesive films create a permanent structural link with the attaching surface and provide great resistance in difficult conditions such as high temperatures.
Stringent government regulations to reduce carbon emissions by lowering vehicle weight, as well as demand for fuel-efficient vehicles, are driving the growth of the adhesive film market. Furthermore, advancements in the electrical and electronics, automotive and transportation, packaging, and medical industries all contribute to the growth of the adhesive film market. Another factor driving market expansion is the widespread usage of adhesive films in the automobile sector for reinforcing plates, door hinge washers, and bracket attachments.
However, the volatility of raw material costs and environmental laws concerning volatile organic compound emissions from adhesive films limit the market's growth. Furthermore, high manufacturing costs, production complexity, and product customization limit market expansion. During the projected period, however, the market is likely to benefit from the manufacture of bio-adhesive films.
During the forecast period, the Asia-Pacific region is likely to lead the market for adhesive films. The market for adhesive films has been quickly expanding in countries such as China, India, and Japan as a result of increased demand from sectors such as packaging and the automobile industry.
The demand for adhesive films in the Asia-Pacific area has been rising as a result of the region's industrial growth and improved economic conditions, as well as the region's record use of e-commerce. In the midst of the e-commerce boom, the Indian packaging sector is seeing rapid expansion and is one of the fastest expanding categories. Packaging consumption in India has increased 200 % in the previous decade, from 4.3 kilograms per person per year (pppa) to 8.6-kilogram pppa, according to the Indian Institute of Packaging (IIP). The sector is anticipated to grow at 26.7 % to reach US$ 204.81 billion by 2025, up from US$ 50.5 billion in 2019.
Demand for film adhesives is increasing in a variety of end-use sectors, including aerospace, consumer electronics, automotive & transportation, etc. This increase in demand might be attributed to exceptional characteristics of these adhesives, such as high strength and high-temperature resistance, which are vital in the automobile sector. Film adhesives can also be applied directly. As a result, the simplicity of use of film adhesives is fueling the film adhesives industry. Because of their excellent performance and strength, epoxy film adhesives are in high demand in the automotive and transportation industries. Epoxy film adhesives can withstand high pressure and have a high fatigue resistance. The increased use of film adhesives in consumer electronics presents attractive prospects for the industry.
The global film adhesives market is being held back by high production costs and a difficult manufacturing process. Demand for film adhesives is also being hampered by the availability of alternatives.
Film adhesives are utilized in a variety of applications, including automotive, packaging, construction, and electrical and electronics. The COVID-19 pandemic had a detrimental influence on the raw material supply for adhesives and sealants. Materials utilized in the production of film adhesives are being diverted toward other uses that come under the essential category. The recovery of the global economy and industrial sectors in various areas of the world is projected to boost the market in the near future.
|Market size value in 2020||US$1.803 billion|
|Market size value in 2027||US$2.592 billion|
|Growth Rate||CAGR of 5.32% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Material, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Henkel AG & Co. KGaA, Hexcel Corporation, Pacific Coast Composites, Inc., Bostik (Arkema S.A.), 3M, H.B. Fuller Company, Showa Denko Materials Co., Ltd., Toray Industries, Avery Dennison Corporation, Solvay S.A.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the film adhesives market?
A1. The film adhesives market is expected to grow at a CAGR of 5.32% during the forecast period.
Q2. What will be the film adhesives market size by 2027?
A2. The global film adhesives market is expected to reach a market size of US$2.592 billion by 2027.
Q3. What is the size of the global film adhesives market?
A3. Film Adhesives Market was valued at US$1.803 billion in 2020.
Q4. Which region holds the maximum market share in the film adhesives market?
A4. The Asia-Pacific region is projected to dominate the global film adhesives market.
Q5. What factors are anticipated to drive the film adhesives market growth?
A5. Stringent government regulations to reduce carbon emissions by lowering vehicle weight, as well as demand for fuel-efficient vehicles, are driving the growth of the adhesive film market.
Henkel AG & Co. KGaA
Bostik (Arkema S.A.)
H.B. Fuller Company
Showa Denko Materials Co., Ltd.
Avery Dennison Corporation
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