Adhesive Films Market

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.

Market Dynamic

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.

COVID-19 Impact

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 :

• BOPP
• PVC
• PE
• PA
• Others

By Adhesive Type :

• Acrylic
• Rubber
• Silicone

By Technology :

• Water Based Adhesives
• Solvent Based Adhesives
• Hot Melt Adhesives
• Pressure Sensitive Adhesives
• Others

By Application :

• Protective Films
• Graphic Films
• Tapes
• Labels
• Lamination
• Others

By End-use :

• Electrical & Electronics
• Building & Construction
• Automotive
• Aerospace
• Logistics
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• With a market share of up to 47.6% in 2021, the Asia-Pacific region had the greatest market share for the adhesive film. The region’s expanding vehicle industry is to blame for the increased need for adhesive films.
• The automotive sector has gained prominence in Europe owing to the rapid development of vehicle sales and technological advancements. The increasing demand for electronic devices is anticipated to boost the use of adhesive films.

Competition Analysis

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:

• In May 2021, The PRiMX battery brand was introduced by SAMSUNG SDI Co., Ltd. It offers consumers quality, performance, and a proven advantage, which translates to user ease thanks to the company’s exclusive technology. The brand has trademark protection in Korea and Europe and will shortly get US registration.
• In March 2021, Oraguard 2815GF, a new protection film from German adhesive filmmaker Orafol, is intended to shield automotive surfaces. These developments broaden the range of protective coatings.

A list of some of the key suppliers present in the market are:

• 3M Company
• BASF SE
• Avery Dennison Corporation
• Klockneer Pentaplast Group
• CCL Industries
• Toray Industries
• Irplast S.p.A.
• Cosmo Films Ltd.
• TEKRA, LLC
• B. Fuller Company

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.