Film adhesives are pre-catalyzed adhesives that include a wide array of compounds such as epoxy, phenolic, and bismaleimide that are supplied in the form of film or sheet. After being subjected to a curative process, film adhesives form a permanent structural bond on the attaching surface and have the ability to withstand environmental aggressors, the most prominent of which is high temperatures.
At the forefront of driving growth in the global market for film adhesives is the demand for medical films and tapes for wounds. Another factor stoking demand substantially is the growing use of small-sized, lightweight electronic devices that require low-cost flexible packaging materials. Adhesive films and tapes also find application in manufacture of lightweight automobiles with enhanced efficiency.
Countering the growth in the global market for adhesive films on the other hand is the volatility in the prices of petroleum. This puts product manufacturers under pressure to cut back profit margins which in turn takes a toll on the healthy growth in the market. Further, the flurry of environmental regulations pertaining to volatile organic compounds (VOC) emissions from adhesive films is also posing a roadblock to the growth in the market. However, with the emergence of bio-based adhesive films and their subsequent commercialization, the market is likely to overcome such deterrents in the near future.
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Hot-melt Adhesives Witnesses Swift Sales due to their Benefit in Construction Processes
Depending upon the type of technologies leveraged, the global market for adhesive films can be segmented into hot-melt, pressure sensitive, and light-cured, among others such as heat-cured, chemical-cured, and self-cured adhesive films. Of them, the segment of light-cured adhesive films is forecasted to outpace all others in terms of growth by clocking maximum CAGR. The segment of pressure sensitive adhesive films held a leading market share in 2013.
Hot-melt adhesives too are seeing widespread adoption, particularly for various processes in the construction sector on account of their high bond strength and easy applicability that brings down the time to process. Light-cured adhesive films again find applications on account of their high bond strength. They are used for masking tapes for sub-zero temperature and in electronic devices, where the temperature may reach over 100 degrees Celsius.
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The different types of adhesives films available in the market are polyvinyl butyral (PVB), polyvinyl acetate (PVAc), acrylic, polyurethane, and epoxy. There are others too such as silicone, polyester ethyl vinyl acetate (EVA), and styrene butadiene copolymer (SBC). Acrylic, among them, is predicted to gain maximum market share to become the dominant segment in the years to come. PVAs also enjoy a robust demand in the market because of their application in construction, packaging, footwear and furniture industries.
Saturated Europe Market to Trim Some of its Share
From a geographic standpoint, Asia Pacific accounts for a dominant position in the global market for adhesive films. Going forward, the region is also slated to outshine all others in terms of growth rate on account of the spike in demand from the rapidly expanding automotive and electronics industries in the region. Consumer goods such as footwear and furniture are said to be stoking demand in the market in the region.
The market in Europe, on the other hand, is anticipated grow at a slower pace because of being saturated. North America is another crucial market that is likely to progress at a healthy clip in the upcoming year buoyed by an improving construction sector and booming packaging, medical, electronics, and other consumer goods industries. Medical, among them, is a crucial end-user industry in the continent.