Adhesive Films Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Adhesive Films Market grew at a CAGR of 4.3% between 2017-2021 and is estimated to be US$ 38941.7 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.7 % and is expected to reach a valuation of US$ 61,642.7 Mn by 2032 end.
Throughout the projected period, the market is anticipated to grow in response to this shift in growth rate related to its characteristics, including temperature resistance, high strength and fatigue resistance, variety in application, and use.
THE INCREASING CONSUMER ELECTRONICS SECTOR DRIVES THE MARKET FOR ADHESIVE FILMS MARKET
Adhesive films are extensively used in consumer electronics, providing excellent bonding performance and superior impact resistance to various products. The global demand for consumer electronics is rising, augmenting the requirement for adhesive films in numerous consumer electronic products, which will drive the market’s growth.
FLUCTUATIONS IN RAW MATERIAL PRICES HAMPER THE MARKET GROWTH
The adhesive film market comprises raw materials such as polyethylene, Polypropylene, and polyvinyl chloride. These are petroleum-based raw materials whose prices are fluctuating due to the volatility in petroleum prices, and this might affect the growth of the adhesive film market in the forecast period. Petroleum prices plunged historically during the pandemic.
THE BOOMING AUTOMOBILE SECTOR WILL CREATE MORE OPPORTUNITIES FOR THE MARKET
Adhesive films are widely used in the automotive industry to simplify the joining process and protect several vehicle parts, such as door panels, roofs, seats, dashboards, and exterior bodywork. The automotive industry is booming globally, and this will drive the growth of the adhesive film market.
Due to increasing automotive and consumer electronics demand, the global adhesive film market is anticipated to witness robust growth in the forecast period. Avery Dennison devised contingency plans for multiple sites impacted during the pandemic. The company reduced production of automobiles and fewer construction activities globally affected the growth of the global adhesive film market. The market is projected to witness robust growth in the forecast period.
Market Segments Covered in Report
By Material :
By Adhesive Type :
By Technology :
By Application :
By End-use :
By Region and Country:
Why is Polypropylene projected to ensure the most revenue during the forecast period?
At 45.0% of the market, Polypropylene had the greatest revenue share. Polypropylene will dominate the adhesive film market in 2021. This material helps adhesive films to be cost-effective, durable, and versatile. Moreover, polypropylene material is easily shaped and highly resistant to several acids and solvent solutions. Owing to such superior qualities, market players are focusing on increasing the implementation of Polypropylene in various adhesive films.
Why is the Hot melt technology segment expected to expand the fastest during the forecast period?
In 2021, In the adhesive film market, hot melt technology dominated 2021. Hot melt adhesives are used to produce hot melt adhesives, which are implemented in a wide range of product assemblies, such as large surface lamination, small joint assembly, mounting, and trip attachment. Hot melt adhesives are also used in the automotive, construction, consumer goods, and packaging industries. Adhesive film demand will increase due to the increasing adoption of hot melt adhesives across multiple sectors, including automotive, construction, consumer goods, and packaging.
Which Application is Surging in the Forecast Years?
The protective films segment dominated the adhesive film market in 2021 and is growing at a CAGR of 5.8% in the forecast period. Protective films offer protection to multiple product surfaces from scratch and abrasion. Automobile surfaces, television screens, computer monitors, LCD screens on cell phones, and many more product surfaces get robust protection from protective films.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Major corporations are utilizing organic and inorganic development tactics to strengthen their position in the market by diversifying the products they provide. The market is characterized by growth opportunities, resulting in a multi-modal shift from a concentrated few players to a distributed many. The top 4 players hold more than 30.0% of the market share.
Some of the key developments that have taken place in the Adhesive Films Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Material, Adhesive Type, Technology, Application, End-use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 4.7%.
Nowadays, it is impossible to conceive lighting applications without adhesive films because they are essential to production and assembly operations. LED light strips are being widely used for domestic, professional, and industrial purposes on the market.
Major global Adhesive Films Market players are 3M Company, BASF SE, Avery Dennison Corporation, Klockneer Pentaplast Group, CL Industries, Toray Industries, Irplast S.p.A., Cosmo Films Ltd., TEKRA, LLC, H.B. Fuller Company.
On account of the customization of the product, there is a high production cost which leads to a limitation in its market growth.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Adhesive Films market.
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