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  • Published On : Mar 2023
  • Code : CMI4649
  • Industry : Consumer Goods
  • Pages : 157
  • Formats :

Adhesive films are films, tapes, and sheets that are coated with adhesives. These films are used to create a bond between two surfaces and are also easy to use. Construction, aerospace, electronics, handheld computing, and automotive are some of the key applications of adhesive films. Adhesive films are produced from various materials such as polyvinyl chloride, polyvinyl acetate, polyethylene, and polyvinyl butyrl.

The global adhesive films market is projected to surpass US$ 25030.6 million by the end of 2030, in terms of revenue, growing at a CAGR of 5.67% during the forecast period (2023 to 2030).

Regional Insights

With the growing demand from various sectors such as packaging, automotive, electrical and electronics, and construction, the adhesive films market is expected to witness an increased growth over the forecast period. The increasing urban population is a significant factor driving the demand for products such as drugs, drinks, FMCGs, and other consumer products.

The Asia Pacific region is the emerging market for the product. The growth in production operations in the Asia Pacific region will further boost the demand for adhesive films packaging. However, it is anticipated that strict public regulations in the chemical industry may hamper the industry growth in the forecast period. Further, fluctuation in the prices of raw materials could have an adverse effect on the manufacturing costs of adhesive films.

Fig 1- Global Adhesive Films Market, Revenue Share (%), By Applications, in 2022

Adhesive films  | Coherent Market Insights

Drivers

Increasing demand for compact and lighter electronic devices

Increasing demand for compact and lighter electronic devices is driving the adhesive films and tapes market growth. Growing demand for the miniaturization of electronic devices such as portable personal computers, tablets, and cell phones are creating demand for adhesive films. Robust growth in the smartphone market is also expected to foster the adhesive films market growth. Also, an increase in the sales of electronic devices around the globe is further projected to propel the adhesive films market growth.

Growing demand for medical films and tapes for wound care is predominantly fueling the adhesive films market growth. A rise in the healthcare industry coupled with increasing investment in the medical industry for improving healthcare facilities is propelling the market growth. Increasing accidents and other injuries is creating demand for medical tapes and films. Thus, growth in medical-grade adhesive films and tapes due to increasing accidents and injuries is expected to foster the market growth of medical films and tapes.

Market Restraints

The fluctuating price of raw materials used in the production of the adhesive films is expected to hinder the adhesive films market growth. Epoxy, acrylates, polyolefin, and polyurethanes are some of the key raw materials used in the production of adhesive films, and all these products are petroleum derived feedstock, which is highly susceptible to price volatility.

High manufacturing costs and complexities associated with the production of adhesives films are expected to limit their demand. This factor is expected to hamper the market growth.

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Adhesive films Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2022: US$ 16101.22 Mn
Historical Data for: 2017-2021 Estimated Year: 2023
Forecast Period 2023 to 2030 CAGR: 5.67 % Forecast Period: 2023-2030
Geographies covered:
  • North America
  • Europe
  • Asia Pacific
  • Rest of World
Segments covered:
  • By Film Material Type: Acrylic, PVAc, Polyurethane, PVB, Epoxy, and Others
  • By Product type: Pressure Sensitive, Hot-melt, Light-cured, and Others
  • By Applications: Tapes, Labels, Graphics, and Others
  • By End User: Packaging, Automotive, Medical, Electronics, and Others (Building and Construction)
Companies covered:

BASF SE, 3M Company, Ashland Inc., H.B. Fuller Company, Henkel AG & Company KGaA, Avery Dennison Corporation, Adhesives Research Inc., The Dow Chemical Company, Eastman Chemical Company, Bostik S.A., Huntsman International LLC, and Kuraray Company Ltd.

Growth Drivers:
  • Increasing sale of compact and lighter electronic device
Restraints & Challenges:
  • High manufacturing costs and complexities

Market Trends

Growing demand for packaged food products

Growing demand for packaged food products due to increasing spending by consumers is expected to bolster the market growth. Increasing health and wellness trend is encouraging consumers to spend more on food products. An increase in the disposable income of the consumers coupled with the busy the lifestyle of the consumers is propelling demand for frozen food products. Thus, the growing demand for packaged food products is expected to propel the market growth of adhesive films.

Polypropylene material is gaining traction in the market as it is more versatile and cost-effective plastic than other plastics. Moreover, polypropylene is highly resistant to a wide range of acids and solvents solutions. It is majorly used in the food packaging and multi-purpose packaging applications. Moreover, the increasing urban population and rise in the end-use sectors around the globe is further expected to augment the adhesive films market growth over the forecast period.

Fig 2- Global Adhesive Films Market, Revenue Share (%), By Applications, in 2022

Adhesive films  | Coherent Market Insights

Key Takeaways of the Graph:

  • Tapes held a dominant position in the market and accounted for 42% share in the global adhesive filmsmarket in 2022. The segment is expected to reach US$ 8,772.4 million in 2030.
  • The superior characteristics of these adhesives, such as high strength and high-temperature resistance, which are necessary for the automobile industry, can be attributed to the increase in demand. Film adhesives can also be applied directly. As a result, the film adhesives market is fueled by its ease of use.

Global Adhesive Films Market - Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic had a substantial impact on the adhesive films market, with strong demand from the e-commerce and food & beverage sectors in the packaging adhesives portfolio. Medical devices, equipment, and products such as virucides and antimicrobials have seen an increase in demand from healthcare providers, signal well for the adhesive films market forecast from 2023 to 2030. However, as a result of the impact on automotive supply chains, the transportation industry is likely to suffer a decline.

Recent Developments

  • On January 17th 2023, BASF has announced an investment in the capacity expansion of polymer dispersions at its production site in Merak, Indonesia. The expansion will bring additional supply reliability to fulfil the growing demand for acrylics and styrene-butadiene dispersions in the Southeast Asia, Australia, and New Zealand markets.
  • On January 11th 2023, H. B Fuller announced the launch of Swift melt 1515-I, its first bio-compatible product compliant in IMEA – India, Middle East, and Africa. The product is used for medical tape applications in stick-to-skin under unique climatic conditions, such as the high temperatures and humidity in the Indian sub-continent.
  • On December 8th 2022, Dowannounced the launch of its SILASTIC SA 994X Liquid Silicone Rubber (LSR) series, as the company continues to innovate for smarter, safer, and more sustainable technologies for the mobility and transportation industry. SILASTIC SA 994X LSR series is a range of primerless, self-adhesive, general purpose and self-lubricating, one-to-one mix ratio LSRs designed for two-component injection moulding with thermoplastic substrates including, but not limited to, polybutylene terephthalate and polyamide.

Competitive Section

Key players are operating in the global adhesive films market are BASF SE, 3M Company, Ashland Inc., H.B. Fuller Company, Henkel AG & Company KGaA, Avery Dennison Corporation, Adhesives Research Inc., The Dow Chemical Company, Eastman Chemical Company, Bostik S.A., Huntsman International LLC, and Kuraray Company Ltd.

Adhesive films are thin sheets of high-performance industrial adhesive backed by a rigid backing. While adhesives are used for a broad range of applications, including fastening, assembling, sealing, and fastening together a variety of materials, the most common application is in bonding fabrics and coatings. Despite their relatively low thickness, they provide a very good level of sealing performance comparable to rivets, screws, bolts, and other fasteners for most applications. They can also be used as a binder, meaning that they can bond two or more materials together in order to form a more complex joint. The backing polyurethane which is typically used in this type of joint also adds strength to the bond.

Market Dynamics

Increasing launch of new product by key players is expected to propel growth of the adhesive films market over the forecast period. For instance, in August 2021, Cosmo Films has launched new film products for the label and flexible packaging industry. The new range of films include BOPP face stocks, water-based and UV flexo-compatible film, direct thermal film, and synthetic paper.

High manufacturing cost is expected to limit growth of the adhesive films market over the forecast period.

Key features of the study:

  • This report provides in-depth analysis of the adhesive films market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the adhesive films market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include BASF SE, 3M Company, Ashland Inc., H.B. Fuller Company, Henkel AG & Company KGaA, Avery Dennison Corporation, Adhesives Research Inc., The Dow Chemical Company, Eastman Chemical Company, Bostik S.A., Huntsman International LLC, and Kuraray Company Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The adhesive films market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global adhesive films market.

Detailed Segmentation:

  • Global Adhesive Films Market, By Film Material Type:
    • Acrylic
    • PVAc
    • Polyurethane
    • PVB
    • Epoxy
    • Others
  • Global Adhesive Films Market, By Product Type:
    • Pressure Sensitive
    • Hot-melt
    • Light-cured
    • Others
  • Global Adhesive Films Market, By Applications:
    • Tapes
    • Labels
    • Graphics
    • Others
  • Global Adhesive Films Market, By End User:
    • Packaging
    • Automotive
    • Medical
    • Electronics
    • Others (Building and Construction)
  • Global Adhesive Films Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia-Pacific
    • Middle East & Africa
  • Company Profiles
    • BASF SE
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • 3M Company
    • Ashland Inc.
    • Fuller Company
    • Henkel AG & Company KGaA
    • Avery Dennison Corporation
    • Adhesives Research Inc.
    • The Dow Chemical Company
    • Eastman Chemical Company
    • Bostik S.A.
    • Huntsman International LLC
    • Kuraray Company Ltd.

Frequently Asked Questions

Adhesive films market was valued at around US$ 16101.22 Mn in 2022.
Increasing demand for compact and lighter electronic devices is driving the market
Growing demand for packaged food products due to increasing spending by consumers on food products is expected to bolster market growth.
The fluctuating price of raw materials used in the production of adhesive films is expected to hinder the market
BASF SE, 3M Company, Ashland Inc., H.B. Fuller Company, Henkel AG & Company KGaA, Avery Dennison Corporation, Adhesives Research Inc., The Dow Chemical Company, Eastman Chemical Company, Bostik S.A., Huntsman International LLC, and Kuraray Company Ltd.
The market is estimated to grow at around 5.67% CAGR during the forecast period (2023-2030).

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