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 2023 to 2030. In the year 2020, the global market for adhesive films had a value of US$ 60 billion. In the automotive industry, the need for adhesive films has increased as a result of the widespread application of plastic and composite materials in the construction of automobiles. As a direct result of the expansion of the automobile industry, there has been a meteoric growth in the need for adhesive films. Adhesive films have become the primary target of the persistent efforts of automobile makers to produce lighter automobiles in order to increase the efficiency with which they consume fuel. Adhesive films are increasingly being employed in place of mechanical joining procedures across the automotive industry, from large trucks to sports cars. This will contribute to the expansion of the market. A comprehensive analysis of the market can be found in the report on the global adhesive films market. The report provides an extensive analysis of key market segments, trends, drivers, and constraints, as well as the competitive landscape and factors that are playing a significant role in the market.
Secondary Demand from the LED industry
The global market for adhesive films is also impacted by the expanding demand from the LED industry. When it comes to the manufacturing processes and the assembly of different kinds of lighting, adhesives are used extensively because sealing applications are necessary at each stage. The Adhesive Films Market has been able to maintain a consistent revenue stream as a result of the steadily increasing usage of LED light strips for a variety of purposes, including commercial, industrial, and residential. Therefore, expanding the output of LED lights would require integrated optics bonding solutions and lens bonding, both of which can be efficiently handled by making use of high-quality adhesive films. In addition, an increase in the number of applications for packaging, notably in the food and beverage industry, is anticipated to drive the growth of the market during the forecast period.
Cost is the Key Concern of the Industry
The expansion of the industry is being hampered by a number of problems, including the unpredictability of the costs of the raw materials and the introduction of rigorous regulatory laws regarding volatile organic compounds (VOC). It is expected that factors such as high manufacturing costs and a rise in the complexity of film production as a result of increased product customization would work together to slow growth during the forecast period. Despite this, the demand for adhesive films in the aerospace industry is expected to grow with an increasing number of fleets, repair maintenance, and development of military aircraft. Additionally, the efforts to develop lightweight aircraft in order to improve fuel efficiency are expected to continue unabated. In a similar vein, forward integrations in the value chain, a surge in demand for bioplastic polymers, the usage of recyclable polymer films and liners, and other practices all present the attractive potential for business expansion.
Significant Opportunities in Construction and Aerospace Industry
In the construction industry, traditional methods of joint assembly, such as screwing, welding, riveting, and soldering, are gradually being phased out in favour of adhesive films. In addition, remodelling and restoration work has been completed. This would necessitate the use of adhesive films for applications such as the lamination of countertops, the covering of walls, the laying of carpet, the going for pre-fabricated panels, and the joining of timber. As a result, not only would the amount of work be made easier, but the overall cost would also decrease. The aerospace industry is one that relies significantly on the employment of adhesive films on a substantial level in order to produce aircraft that are of such a caliber that they would be a marvel to see. Additionally, the frequency of maintenance and repairs, as well as fleet replacements, are both growing for military aircraft. In aeroplanes, adhesive films can be found in a variety of locations, including the outside, the interior, and the engine compartments. These locations include overhead lockers, handy seat trays, and other similar features.
Automotive and Transportation Dominated the Market While Electrical & Electronics Remain the Most Lucrative Market
The market is segmented into Electrical and Electronics, Aerospace, Automotive and Transportation, Consumers, and Other Applications on the basis of the application. It is anticipated that the electrical and electronics industry segment will experience the highest CAGR during the period covered by the prediction. The electrical and electronics industry makes use of adhesive films for a variety of purposes, including holding down protective insulation wrap and serving as warning labels and information labels. Additionally, sticky film-based tapes are utilised in the production of a wide variety of consumer electronics, including mobile phones and cameras, to name just two examples. The expansion of the adhesive films market is being propelled by the rising demand for adhesive film-based tapes, labels, and graphic films in electrical and electronic applications.
Within the film adhesives market, the automotive and transportation segments dominated the market revenues in 2021. This market revenue can be linked to the expansion of the automotive sector in the APAC region, which has led to a rise in the production of automobiles. As a result of this expansion, there has been a rise in the total number of vehicles produced. In the manufacturing of automobiles, film adhesives are utilised in attaching components together and providing assembly support services.
Epoxy to be the Largest and Fastest Growing Market Segment
Film adhesives are a type of solvent-cast adhesive that can be used to create a thin layer of flexible bonding. In various end-use industries, such as aerospace, electrical and electronics, and automotive and transportation, these films are utilized extensively as replacements for fasteners as well as paste and liquid adhesives. Epoxy among the other resin type segment of the market for film adhesives held the largest revenue share in 2021 and is also expected to be the fastest growing market during the forecast period 2023 to 2030. Epoxies are high-performance adhesives that offer high levels of strength, resistance to temperature, and fatigue, among other desirable characteristics.
Pressure-Sensitive Adhesives Dominate Growth, While Water-Based Technology is the Largest Revenue Earner
There are a few different ways to activate film adhesives, including heat, chemicals, light, or pressure. The water-based category was the most important contributor to the market in terms of market revenues for 2021. Both in terms of monetary benefit and bonding, water-based adhesive films are superior to solvent-based adhesive films. Water-based adhesive films are more practicable. In addition, they do not emit any smell and can be utilised with a variety of substrates. A low quantity of volatile organic compounds is another advantage. Pressure-sensitive adhesives is expected to grow at the fastest pace during the forecast period. The variables that can be related to the quickness with which products can be packaged include the fact that they do not require heat during the application process. They are also less intrusive than conventional tapes and safer than glue sticks in the event of an accident. The demand for pressure-sensitive films is increasing as a direct result of these causes.
BOPP Most Dominating Adhesive Films Material in 2021
Out of BOPP, PVC, PE, PA, and other similar materials included in the report, BOPP had the biggest revenue share in 2021. This is because BOPP naturally adheres to environmental friendliness standards and is long-lasting. Silicone, rubber, and acrylic are the three main types of adhesives. In order to circumvent the challenges presented by the non-recyclability of acrylic and the unwelcome emissions that result from the disposal of rubber, it is anticipated that silicone will predominate in the period under consideration. Tapes, labels, and graphic films are the applications for this product. Tapes are the ones who carry the banner.
APAC to be the Most Lucrative Market to Invest in During the Forecast Period
The Asia-Pacific region has very low entry barriers, which provides a competitive advantage to players who are active globally. On the other hand, because of the stringent regulations that are in place, it is anticipated that Europe and MEA would have strong growth. It is anticipated that the market for film adhesives in the APAC region would grow at the highest CAGR during the forecast period. When it comes to high-end aircraft applications, film adhesives are favoured over traditional adhesives. In addition, there is a gradual movement of manufacturing facilities to countries in the Asia-Pacific region due to the low production cost in these countries. It is anticipated that the expansion of the market for film adhesives in the APAC region will be driven by these factors.
Consolidation to Intensify During the Forecast Period
More than 30% of the market is controlled by just the top four competitors. There is expected to be a significant price war among the top players during the forecast period. Additionally, both organic and inorganic expansion strategies are currently under investigation and testing. H.B. Fuller (United States), Henkel (Germany), Arkema (Bostik) (France), 3M (United States), and Cytec Solvay Group are among the most prominent film adhesives manufacturers (Belgium). Other strong players in this market include Eastman Chemical, Sekisui Chemicals, Kuraray, EVERLAM, ChangChun Group, Kingboard Chemical Holdings, Huakai Plastic, Zhejiang Decent Plastic, Rehone Plastic, Tanshan Jichang New Material, Wuhan Honghui New Material, and Weifang Liyang New Material and others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Adhesive Films market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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Adhesive Type
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Application
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End-use
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Technology
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
