Adhesive Film Market Size, Share, Trends, By Film Material (Polypropylene, Polyvinyl Chloride, Polyethylene), By Technology (Water Based, Solvent Based), By End-Use Industry (Electrical & Electronics, Aerospace), and By Region Forecast to 2030
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Adhesive Film Market Overview:
The adhesive film market had a value of USD 20.67 billion in 2021, and it is predicted to record a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period. The market growth is attributed to the increasing Research and Development (R&D) initiatives in the aerospace industry, expansion of construction projects, and the rising demand for automotive electronics and vehicles. Adhesive films, commonly known as pre-catalyzed adhesives, are available in the form of films or sheets that contain various substances such as epoxy, bismaleimide, and phenol. These adhesive films create a robust structural bond on the attaching surface after the curative process and are immune to all environmental conditions, particularly high temperatures.
Adhesive tapes and films are also used for packaging of lightweight and compact electronic gadgets. Furthermore, adhesive films and tapes are used in the manufacture of lightweight automotive components, making production more efficient. The increasing adoption of adhesive films in various end-use industries such as construction, transport, electrical and electronics, and packaging is propelling demand for the adhesive film in the global market.
OEMs in some countries such as Germany, the US, the UK, and Canada are producing lighter components to meet the increased demand for lightweight vehicles. Stringent regulations on fuel emissions have led to an increase in the use of adhesive films in the manufacturing of lightweight vehicle components and packaging.
Adhesive Film Market Segments:
The base year for estimation of the market was 2021, and historical data from 2019-2020 was analyzed for the forecast period of 2021-2030. The quantitative unit of measurement used in the report was revenue in USD Billion.
The report covered several parameters, including revenue forecast, company ranking, competitive landscape, growth factors, and trends. The market segments were analyzed based on film material outlook, technology outlook, end-use industry outlook, and regional outlook. The increasing number of Research and Development (R&D) initiatives in the aerospace industry, construction project expansion, and increasing demand for vehicles and automotive electronics are expected to drive market revenue growth.
Adhesive films are pre-catalyzed adhesives produced in the form of sheets or films that include a variety of substances such as bismaleimide, phenol, and epoxy. These films create a strong structural bond on the attaching surface after the curative process and are resistant to all environmental conditions, especially high temperatures. The adhesive films are used in the packaging of compact and lightweight electronic gadgets, as well as in the more effective manufacture of lightweight automotive components. The growing adoption of adhesive films across end-use industries such as electrical & electronics, transport, construction, and packaging is driving the demand for adhesive films in the global market. In addition, strict regulations on fuel emissions in countries such as Germany, the US, the UK, and Canada have resulted in increased usage of adhesive films in the manufacture of lightweight vehicle components and packaging.
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Adhesive Film Market: Strategic Developments
In recent years, the adhesive film market has seen a surge in strategic developments, including mergers and acquisitions, collaborations, and partnerships. These developments are driven by the need to expand business operations, increase production capacity, and develop new products to meet the growing demand for adhesive films across various industries.
In 2021, Henkel AG & Co. KGaA announced the acquisition of Aislantes Nacionales S.A. (ANSA), a leading Chilean supplier of thermal insulation solutions, including adhesive films. This acquisition aimed to strengthen Henkel’s position in the Latin American market and expand its portfolio of insulation products.
In 2020, Lintec Corporation announced a strategic partnership with Mitsubishi Chemical Corporation to develop and manufacture adhesive films for use in high-end applications, such as automotive and aerospace industries. The partnership aimed to combine Lintec’s expertise in adhesive film technology and Mitsubishi’s expertise in resin and composite materials to develop innovative products.
In the same year, 3M Company announced the acquisition of M*Modal’s technology business, including its natural language processing and machine learning technologies. The acquisition aimed to enhance 3M’s healthcare business and improve its ability to develop innovative adhesive films for use in medical applications.
Other major players in the adhesive film market, such as Avery Dennison Corporation, Nitto Denko Corporation, and tesa SE, have also been active in pursuing strategic developments. These include expanding production capacity, developing new products, and establishing partnerships with other companies to enhance their market position.
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Adhesive Film Market: Competitive Landscape
The global adhesive film market is dominated by a handful of major players that operate at the global and regional levels, resulting in a consolidated competitive landscape. These key players are focused on product development and strategic partnerships to enhance their product offerings and establish a strong foothold in the global market. Leading companies in the market report are BASF SE, 3M, Avery Dennison Corporation, UPM, CCL Industries, Constantia Flexibles, Cosmo Films, TORAY INDUSTRIES, INC., Coveris, and Mondi.
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