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The adhesive films market size is estimated to grow at a CAGR of 5.69% between 2022 and 2027. The adhesive films market size is forecast to increase by USD 6,863.22 million. The growth of the market depends on several factors, including the growth in the automotive industry, the rise in demand for adhesive films in APAC, and the technological advancements in the labels industry.
This adhesive films market report extensively covers market segmentation by application (tapes, labels, graphics, and others), end-user (packaging, aerospace, electrical and electronics, automotive and transportation, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growth in the automotive industry is notably driving the market growth, although factors such as stringent regulations and policies may impede the market growth. Our researchers analyzed the data with 2022 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 factor driving the growth of the global adhesive films market. Adhesive films are used to bond composites, nonwovens and plastics in automotive applications due to their improved adhesion and durability. These adhesive films are used in automotive components such as headliners, door panels, overhead systems and seat inserts. It is also used to bond windshields, rearview mirrors and exterior panels. The use of adhesive films to join automotive parts eliminates the need for fasteners and reduces vehicle weight. The use of adhesive foils can reduce vehicle weight by approximately 30% compared to using mechanical fasteners.
According to the US Environmental Protection Agency (EPA) estimates, a reduction of 10% in vehicle weight will increase fuel efficiency by almost 5%-7%. The growing demand for passenger and commercial vehicles, particularly from developing countries, including China, India, and Indonesia, is expected to drive the growth of the market growth. The growing preference for fuel-efficient vehicles with reduced weight is expected to drive the growth of the market in focus during the forecast period.
Growing demand for bio-adhesive films is the primary trend in the global adhesive films market. Bioadhesives are natural polymeric materials used to glue or join two materials together. Bioadhesive films are used in a variety of applications in the medical and food and beverage industries. This is due to the lower VOC content compared to petroleum-based adhesive films. The commercialization of bio-adhesive films by vendors, including Avery Dennison, H.B. Fuller, and UPM-Kymmene Corp. (UPM-Kymmene), will have a positive impact on the growth of the global adhesive films market.
Bio-adhesive films are commonly used in biomedical applications in the healthcare sector. This is owing to their excellent interfaces with biological fluids and tissues within the human body. The growing innovation and product development on the use of bio-adhesive films for medical applications, including surgical tapes, surgical drapery, and wound closing tapes, are expected to positively influence the growth of the market during the forecast period.
Stringent regulations and policies is a major challenge to the growth of the global adhesive films market. Stringent regulations by the EPA and Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) on the volatile organic compounds (VOC) content of adhesive films pose serious challenges to the market growth. In California, the US, the authorities have strict regulations regarding the limit for VOC emission through different end-use industries. The state also has set 13 Air Pollution Control Districts (APCD) or Air Quality Management Districts (AQMD), each with its own limits for VOC for adhesive films.
The US Food and Drug Administration (FDA) has imposed firm regulations on the use of adhesive films in food packaging applications. The Code of Federal Regulations (CFR) Title 21 (Section-175.105) provides guidelines regarding the use of adhesive films as an indirect food additive. The growing health hazards regarding the use of adhesive films for various applications, including packaging, are expected to impede the growth of the market during the forecast period.
The 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Adhesive Films Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adhesive Films Inc.: The company offers adhesive films such as AF 163 2, AF 147, AF 325 LS White. Also, this segment focuses on manufacturing heat activated thermoplastic adhesives films.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the tapes segment will be significant during the forecast period. Tapes consist of carrier materials such as plastic film, paper, and foam, which are coated with an adhesive film and a release liner. The increase in demand for adhesive tapes in the medical sector, including silicone, epoxy, and polyurethane-based adhesive tapes in the healthcare industry, will have a positive impact on market growth.
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The tapes segment was valued at USD 8,889.16 million in 2017 and continue to grow by 2021. Adhesive films are used in the healthcare industry to manufacture surgical tapes, bandages and dressings in the healthcare industry, due to their impact resistance and durability. Increasing demand for adhesive tapes in various countries in the Asia-Pacific region such as China, India, South Korea, Japan, and Taiwan is expected to have a positive impact on the growth of the adhesive film market. Growth in end-use industries such as packaging, healthcare, electrical/electronics, and construction is expected to boost the demand for adhesive films in the above countries.
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APAC is estimated to contribute 53% 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. Due to their strength, durability and chemical resistance, adhesive films are widely used in various end-use industries such as packaging, construction, automotive and personal care. It also increases the durability and strength of tapes and labels. These films are used as label layers for a variety of packaging products such as food and beverages, consumer goods and cosmetics. Organized retailing in APAC is also likely to have a positive impact on the food packaging industry. The increasing number of supermarkets and hypermarkets has contributed to the growth of organized retailing. Hence, the growing demand for labels to provide product information is expected to drive the demand for adhesive films during the forecast period.
The COVID-19 pandemic resulted in several challenges for the growth of the adhesive films market in APAC in 2020. However, in 2021, the successful COVID-19 vaccination programs conducted across the region, as well as increasing investments in end-user industries such as automotive, manufacturing, packaging, and others, led to the reopening of manufacturing plants across APAC. As a result of these factors, the demand for adhesive films is likely to increase across end-user industries, thereby propelling the market forward in APAC during the forecast period.
The adhesive films market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global adhesive films market as a part of the global specialty chemicals market. The global specialty chemicals market covers products and companies engaged in high-value-added chemicals used in the manufacturing of a wide variety of products, including, but not limited to, fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Adhesive Films Market Scope |
|
Report Coverage |
Details |
Page number |
179 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.69% |
Market growth 2023-2027 |
USD 6,863.22 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.35 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 53% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adhesive Films Inc., Adhesives Research Inc., ADHETEC, Arkema Group, Ashland Inc., Avery Dennison Corp., Coveris Management GmbH, GRANITOL, H.B. Fuller Co., Henkel AG and Co. KGaA, Hexcel Corp., Master Bond Inc., Mondi plc, Pontacol AG, Resonac Holdings Corp., Rogers Corp., Specialty Adhesive Film Co. Inc., Toray TCAC Holding B.V., UPM Kymmene Corp., and 3M Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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