Acumen research and consulting estimates that the global film adhesives market is anticipated to reach market size of around US$ 27,000 Mn by 2027 and is anticipated to grow at a CAGR of around 5% in terms of revenue during the forecast period 2020 – 2027. Film adhesives are solvent adhesives made of a small flexible layer of bonding. The thermal and chemical properties of film adhesives are high pressurized. These films can also provide an easily removable support for high-performance connection. Due to these properties, films are used in many end-use industries as an alternative to paste and liquid adhesives. The addition of movable adhesives enhances automotive performance, which in turn boosts the adoption of film adhesives and is expected to boost the adhesive growth of the film market.
The growth of the global adhesive film market is driven by increasing demand for film adhesive in the end-use industries, such as electricity & electronics, aviation, automobile and transport industry, consumers and others. In addition, film adhesives are preferred in high-end aerospace applications over traditional adhesives due to properties such as high temperature tolerance, high strength and fatigue resistance, which are expected to increase global demand. Moreover, film adhesives that are commonly used in manufacturing and installing electrical circuits may also be applied directly. The global film adhesive market is expected to grow by this factor. The growth of the global film adhesive market is expected to be constrained by high production costs and complications in production of these films. In the near future, however, increasing demand for medical and fitness wear will give the global film adherence market a lucrative opportunity.
Electrical & electronics is estimated to be the fastest-growing end-use industry of the adhesive film market during the forecast period.
Adhesive films are used for protection insulation wrap and as warning labels and labels for information purposes in the electrical & electronics industries. In the production of many consumer electronic devices such as mobile telephones and cameras, adhesive film-based tapes are also used. The development of the adhesive film industry is causing increased demand for these adhesive foil rolls, labels and graphics films for applications in electrical and electronics.
The Covid-19 pandemic has largely affected the global economy, particularly in countries like the U.S., Spain, Italy, the UK, France, Russia and Turkey, and is projected to be sluggish over the forecast period for Europe and North America. Countries are failing to launch operations early, which is likely to have a long-term impact on the development of film adhesive market. In 2019, Asia Pacific led the film adhesive industry with a near about 56% market share and is predicted to be the fastest growing region in the forecast period. China has emerged as the region's largest market in 2019 and, as a result of increased focus on industrial production in these developing economies, countries like India and South Korea are forecast to experience significant growth over the projected period. Due to increased investment in this sector, the electronics and electricity sector is expected to see considerable long-term growth in Asia Pacific. In India there has been considerable growth over the past years, in the electronics sector, including consumer electronics, computer hardware, mobile phones, components and LEDs. In the near future considering investments and favorable government policies in the country, significant growth is anticipated. As an example, the 2019 National Electronics Strategy aims at USD 400 billion in the country's turnover by the year 2025. In 2019 the Chinese White Governments Company, which is to be engaged in the manufacture of house appliances, HVAC products and compressors, Midea, announced an investment of $1.350 crore in a production plant in Pune, Maharashtra , India.
Major players included in this report are Dow Chemical, Cytec, BASF SE, Henkel AG & Company, 3M, H.B. Fuller, Arkema, Bostik, Solvay Group, Bayer AG, Gluetex GmbH, Gurit, Presco, HMT Manufacturing, DuPont, and other. 3M is a multinational company in the adhesive film business. It is strong worldwide and its organic and inorganic strategies are projected to maintain its market share in the near future. In order to maintain leadership in the adhesive film industry, the company plans to launch new products. The new products will contribute to the company’s sales and help it achieve its target of revenue. The company will also invest in R&D by maintaining a balanced and diversified portfolio, and reducing the risk of technical or economic failure.
The global film adhesives market is segmented as below:
Film Adhesives Market By Resin Type
Film Adhesives Market By End-User Industry
Electrical & Electronics
Automotive & Transportation
Film Adhesives Market By Application
Film Adhesives Market By Geography
Middle East & Africa
Increasing adoption for adhesive film across end-use industry such as transportation and construction and packaging is expected to drive the growth of the film adhesives market.
Fluctuating raw material cost is a major factor expected to restraint the growth of the market.
The market value of film adhesives is anticipated to be around US$ 27,000 Mn in 2027.
It is anticipated to grow around 5% CAGR amid the forecast period.2020-2027
Dow Chemical, Cytec, BASF SE, Henkel AG & Company, 3M, H.B. Fuller, Arkema, Bostik, Solvay Group, Bayer AG, Gluetex GmbH, Gurit, Presco, HMT Manufacturing, DuPont and others are the prominent players in the market.
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.
Asia Pacific held maximum share in 2019.