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The adhesive films market size is forecast to increase by USD 7.62 billion at a CAGR of 6% between 2023 and 2028.
The adhesive films industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The tapes segment is estimated to witness significant growth during the forecast period. Adhesive films, comprised of carrier materials like plastic films, paper, and foam with adhesive coatings and release liners, witness significant demand in various industries. In healthcare, the rising preference for medical-grade adhesive tapes, including silicone, epoxy, and polyurethane types, fuels market expansion. These tapes' impact resistance and durability make them indispensable in producing surgical tapes, bandages, and dressings. The escalating demand for adhesive tapes in APAC countries, including China, India, South Korea, Japan, and Taiwan, is a key growth driver. Adhesive films are integral to numerous applications, such as handheld devices, consumer durables, living standards enhancement, and various industries like aerospace, electrical & electronics, automotive & transportation, medical equipment manufacturing, and electronic circuit components.
The evolving polymer chemistry and raw material supplies further bolster market expansion.
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The Tapes segment was valued at USD 9.26 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Adhesive films are essential components in various industries due to their superior strength, durability, and chemical resistance. These films enhance the performance of tapes and labels in packaging, construction, automotive, and personal care applications. In the packaging sector, particularly in food and beverage, consumer goods, and cosmetic products, adhesive films serve as a protective layer on labels, providing essential product information. The expansion of organized retailing in Asia Pacific, with the rise of supermarkets and hypermarkets, is driving demand for adhesive films In the food packaging industry. Additionally, adhesive films find applications in other sectors, including electrical & electronics, automotive & transportation, aerospace, medical equipment manufacturing, and electronic circuit components, due to their high-quality properties.
The availability of raw materials, such as crude oil, polymers, polymer films, plastics, and petroleum-based products, supports the production of adhesive films. The chemical industry's advancements in phenolic resins and melamine resins contribute to the development of high-performance adhesive films, such as vinyl films and solvent cast adhesives. Capacity expansions, joint ventures, mergers & acquisitions, and research & development activities are key strategies adopted by market players to cater to the growing demand for adhesive films.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growth In the automotive industry is the key driver of the market.Adhesive films play a significant role in various industries, particularly in automotive applications, where they are used to bond composites, non-woven fabrics, and plastics. This results in stronger bonds and enhanced durability for components such as headliners, door panels, overhead systems, seat inserts, windshields, rearview mirrors, and exterior trims. By eliminating the need for fasteners, adhesive films contribute to reducing vehicle weight, potentially decreasing it by nearly 30%. According to the US Environmental Protection Agency (EPA), a 10% reduction in vehicle weight can lead to a fuel efficiency improvement of 5-7%. Adhesive films are also used in consumer durables, beverages, and various industries like electrical & electronics, aerospace, medical equipment manufacturing, and electronic circuit components.
Raw materials for adhesive films include polymers, polymer films, plastics, petroleum-based products, phenolic resins, melamine resins, and vinyl films. The prices of crude oil and commodities like polymers influence the market dynamics. Capacity expansions, joint ventures, mergers & acquisitions, and technological advancements are common strategies In the adhesive films industry. Adhesive films find applications in handheld devices, self-adhesive tapes, and solvent cast adhesives.
Increasing adoption of linerless tapes and labels is the upcoming market trend.Adhesive films, particularly those used in linerless labels, have gained traction in various industries due to their high-quality properties and potential for reducing waste. Traditional pressure-sensitive adhesive (PSA) labels consist of an adhesive film backed by a release liner. However, linerless labels feature a release coating on the front face and an adhesive film on the backside, eliminating the need for a separate release liner. The release liner, which makes up approximately 40% of the label material, generates significant waste. By implementing linerless labels, industries such as beverages, consumer durables, and the medical industry can improve their sustainability efforts. Additionally, the use of raw materials like polymers, polymer films, plastics, and petroleum-based products In the production of adhesive films is influenced by commodity prices, particularly those of crude oil and polymers like phenolic resins and melamine resins.
Industry dynamics include capacity expansions, joint ventures, mergers & acquisitions, and technological advancements in solvent cast adhesives, fasteners, and epoxy film adhesives. Applications span across aerospace, electronics, automotive & transportation, medical equipment manufacturing, and electronic circuit components. The polymer chemistry involved In the production of these films continues to evolve, ensuring the industry remains innovative and responsive to market demands.
Stringent regulations and policies is a key challenge affecting the industry growth.Adhesive films face regulatory challenges due to stringent environmental regulations on volatile organic compounds (VOCs). In the US, the Environmental Protection Agency (EPA) and Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) impose restrictions on VOC content in adhesive films for industrial and commercial applications. For instance, Massachusetts Department of Environmental Protection (MassDEP) imposed regulations in August 2013, prescribing a VOC limit for adhesive films. California authorities also regulate VOC emissions through various end-user industries and have set up 13 Air Pollution Control Districts (APCD) or Air Quality Management Districts (AQMD), each with its own VOC limits for adhesive films.
Key raw materials for adhesive films include crude oil, polymers, and polymer films, which are petroleum-based products. Market dynamics include capacity expansions, joint ventures, mergers & acquisitions, and the use of solvent cast adhesives, fasteners, epoxy film adhesives, and raw material supplies in various industries such as beverages, consumer durables, living standards, high-quality products, electrical & electronics, aerospace applications, automotive & transportation, medical equipment manufacturing, electronic circuit components, and the DIY industry.
The adhesive films market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the adhesive films market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, adhesive films market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.
3M Co. - The market: The company provides a range of adhesive film solutions, including AF 163 2, AF 147, and AF 325 LS White. These films cater to various applications, offering enhanced bonding capabilities and versatile performance. Adhesive films are essential components in numerous industries, including automotive, packaging, and construction, among others. The market for adhesive films is driven by factors such as increasing demand for lightweight and sustainable materials, growing automotive production, and the need for improved product performance and efficiency. Adhesive films provide solutions for bonding, sealing, and protective applications, ensuring product durability and functionality. The market is expected to grow significantly due to these factors and the continuous innovation in adhesive technology.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a broad range of products derived from various raw materials, including polymers and resins. These films are integral components in numerous industries, from consumer durables to high-tech electronics. The market's growth is influenced by several factors, primarily the demand for high-quality products and the availability of raw materials. The global economy's overall health plays a significant role In the market. Consumer living standards and disposable income levels impact the demand for consumer goods, which often incorporate adhesive films In their manufacturing processes. Crude oil prices, a primary feedstock for petroleum-based polymers, can also affect market dynamics.
Polymer films, a crucial segment withIn the market, are derived from polymers such as polypropylene and polystyrene. These films offer versatility, strength, and flexibility, making them suitable for various applications. Handheld adhesive films, for instance, are commonly used In the manufacturing of consumer electronics and portable devices. Self-adhesive tapes, another essential adhesive film type, are widely used in industries like automotive and transportation, aerospace, and electrical & electronics. These tapes provide a reliable bonding solution, ensuring the efficient production of complex components and assemblies. The e-commerce industry's growth has also contributed to the increased demand for adhesive films.
The convenience of online shopping has led to an increase In the production and distribution of various consumer goods, which often require adhesive films In their manufacturing processes. Capacity expansions, joint ventures, mergers & acquisitions, and technological advancements are common strategies employed by market players to maintaIn their competitive edge. For example, companies may invest in research and development to create new, innovative adhesive film solutions or expand their production capabilities to meet the growing demand. In the medical industry, adhesive films play a vital role in medical equipment manufacturing and medical applications. Epoxy film adhesives, for instance, are used to bond various components in medical devices, ensuring their durability and functionality.
The DIY industry also utilizes adhesive films extensively, particularly In the production of decals, labels, and other decorative items. In the paper/printing industry, adhesive films are used to enhance the functionality and appearance of various paper products. Raw material supplies, particularly those derived from petroleum, play a significant role In the market. The availability and price of these raw materials can impact market dynamics, as fluctuations in supply and demand can lead to increased costs for manufacturers. In summary, the market is a dynamic and diverse industry that caters to various sectors, from consumer goods to high-tech electronics.
Its growth is influenced by factors such as consumer demand, raw material availability, and technological advancements. Companies must stay agile and innovative to maintaIn their competitive edge in this ever-evolving market.
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Market Scope |
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Report Coverage |
Details |
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Page number |
182 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
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Market growth 2024-2028 |
USD 7617.6 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.5 |
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Key countries |
China, US, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this adhesive films market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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