Adhesive films market size to grow by USD 6,863.22 million between 2022 and 2027; Growth in the automotive industry will boost the market

NEW YORK, April 18, 2023 /PRNewswire/ -- The adhesive films market size is forecasted to increase by USD 6,863.22 million from 2022 to 2027, at a CAGR of 5.69%, according to the recent market study by Technavio. 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 technological advances in the labels industry. This report entails various charts & data tables about market and segment sizes for a historic period (2017-2021) and forecast period (2023-2027). Download the Sample Report.

Vendor Analysis

The adhesive films market report includes information on the key products and recent developments of leading vendors, including:

Adhesive Films Inc.: The company offers adhesive films such as AF 163 2, AF 147, and AF 325 LS White. Also, this segment focuses on manufacturing heat-activated thermoplastic adhesives films.

ADHETEC: The company offers adhesive film solutions such as coatings and tapes.

Arkema Group: The company offers adhesive films such as industrial adhesive films.

Ashland Inc.: The company offers adhesive film solutions such as Bostik, coating resins, and Rheology addictives.

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.

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Key Benefits for Industry Players & Stakeholders –

The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.

It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.

The report also provides a qualitative and quantitative analysis of vendors 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.

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Market Segmentation:

The market is segmented 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).

By application, the market growth will be significant in the tapes segment during the forecast period. An adhesive tape consists of a carrier material such as plastic film, paper, or foam, coated with an adhesive film and a release liner. The increasing demand for adhesive tapes in the medical field, including silicone, epoxy, and polyurethane-based adhesive tapes in the healthcare field will have a positive impact on the market growth.

By end-user, the market growth will be significant in the packaging segment during the forecast period. Industrial adhesive films are widely preferred for cargo packaging and assembly due to their ease of use in terms of flexibility, reduced curing time, and improved adhesion. In addition, the growing demand for short assembly times, carton sealing, and high adhesive strength in the production of corrugated boxes has led to a high consumption of adhesive films in the packaging industry. Growing consumer demand for packaged food is expected to boost market growth.

APAC will account for 53% of the market growth during the forecast period. Due to their strength, durability, and chemical resistance, adhesive films are widely used in various end-user 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 various packaging products such as food and beverages, consumer goods, and cosmetics. Organized retail in APAC could also have a positive impact on the food packaging industry. The rise of supermarkets and hypermarkets has contributed to the growth of organized retail. Therefore, the growing demand for labels that provide product information is expected to drive the demand for adhesive films during the forecast period.

Market Dynamics:

Key Drivers:

Growth in the automotive industry

Rise in demand for adhesive films in APAC

Technological advancements in the labels industry

Adhesive films are used to bond composites, nonwovens, and plastics in automotive applications due to their improved adhesion and durability. It is used in automotive components such as headliners, door panels, overhead systems, and seat inserts and is used to bond windshields, rearview mirrors, and exterior panels. Moreover, 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. Such factors will increase market growth during the forecast period.

Major Trends:

Growing demand for bio-adhesive films

Increasing adoption of linerless tapes and labels.

Rising adoption of lightweight vehicles

Bioadhesive films are commonly used in biomedical medical applications. This is due to their excellent interface with in vivo fluids and tissues. Increasing innovation and product development in the use of bioadhesive films for medical applications, such as surgical tapes, surgical drapes, and wound closure tapes, is expected to have a positive impact on market growth during the forecast period.

Key Challenges:

Stringent regulations and policies

Threat of substitutes

Volatility in raw material prices

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. For instance, in August 2013, the Massachusetts Department of Environmental Protection (MassDEP) imposed strict regulations on adhesives and sealants. Regulation 310 CMR 7.18 (30) prescribes a VOC limit for adhesive films for industrial and commercial applications. In addition, in California, authorities have strict regulations regarding the limit for VOC emission through different end-user 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. Such factors will hinder market growth during the forecast period.

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What are the key data covered in these adhesive films market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the Adhesive Films Market between 2023 and 2027

Precise estimation of the size of the Adhesive Films Market size and its contribution to the market in focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the Adhesive Films Market industry across APAC, North America, Europe, South America, and the Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of Adhesive Films Market vendors.

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The floor adhesive market is expected to grow at a CAGR of 5.44% between 2021 and 2026, and the market size is expected to increase by USD 1.53 billion. The market is segmented by end-user (residential, commercial, and industrial) and geography (APAC, North America, Europe, South America, and MEA).

Adhesive Films Market Scope

Report Coverage

Details

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, and Market condition analysis for the 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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Table of contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global adhesive films market 2017 - 2021

4.2 Application Segment Analysis 2017 - 2021

4.3 End-user Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Application

6.1 Market segments

6.2 Comparison by Application

6.3 Tapes - Market size and forecast 2022-2027

6.4 Labels - Market size and forecast 2022-2027

6.5 Graphics - Market size and forecast 2022-2027

6.6 Others - Market size and forecast 2022-2027

6.7 Market opportunity by Application

7 Market Segmentation by End-user

7.1 Market segments

7.2 Comparison by End-user

7.3 Packaging - Market size and forecast 2022-2027

7.4 Aerospace - Market size and forecast 2022-2027

7.5 Electrical and electronics - Market size and forecast 2022-2027

7.6 Automotive and transportation - Market size and forecast 2022-2027

7.7 Others - Market size and forecast 2022-2027

7.8 Market opportunity by End-user

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 US - Market size and forecast 2022-2027

9.10 Japan - Market size and forecast 2022-2027

9.11 Germany - Market size and forecast 2022-2027

9.12 UK - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 3M Co.

12.4 Adhesive Films Inc.

12.5 Adhesives Research Inc.

12.6 ADHETEC

12.7 Arkema Group

12.8 Ashland Inc.

12.9 Avery Dennison Corp.

12.10 Coveris Management GmbH

12.11 GRANITOL

12.12 H.B. Fuller Co.

12.13 Henkel AG and Co. KGaA

12.14 Hexcel Corp.

12.15 Rogers Corp.

12.16 Toray TCAC Holding B.V.

12.17 UPM Kymmene Corp.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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