The global adhesive films market is consolidated. The players in the market are competing against each other on the basis of services offered to end user industries. Product pricing is another factor on which the players are competing with each other. Thus, there exists strong competition among the players in the global adhesive films market. Key players operating in this market include: 3M Company, Henkel AG & Company KGaA, H.B. Fuller Company, Avery Dennison Corporation, BASF SE, Ashland, Inc., and Eastman Chemical Company.
According to the report, the adhesive films market will be worth US$14.45 bn by 2020. On the basis of technology, the market for light cured segment will experience a swift growth in the coming years, fueled by the enhanced characteristics of the product including fast curing and negligible or zero volatile organic compounds (VOC) emissions. By product, the acrylic segment is expected to account for the largest share in the market in the coming years. the use of acrylic adhesive films in medical, electronics, automotive, construction, and furniture will drive the growth of this segment. Moreover, the PVA segment is also slated to witness a remarkable demand in the coming years on account of their use in packaging, furniture, construction, and footwear industries.
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Asia Pacific to Emerge Most Lucrative Regional Segment in Adhesive Films Market
On the basis of application, the labels segment will witness highest growth in the market. By end user industries, the medical and healthcare industry will gain traction in the global adhesive films market during the forecast period. On the basis of geography, Asia Pacific held significant shares in the past and will be the most lucrative market for adhesive films in the years to come. The flourishing electronics and automotive industries in Asia Pacific will ensure the growth of this market in the region. Moreover, the demand for footwear and furniture will also see a growing demand and this will fuel the growth of the adhesive films market in Asia Pacific. The European market will witness a sluggish growth in the coming years. On the other hand, North America is estimated to witness a healthy CAGR during the forecast period, on account of improvement in the construction sector and thriving packaging, electronics, medical, and other consumer goods industry.
High Demand from Various End Use Industries to Fuel Growth of Adhesive Films
The growing application of packaging in the food and beverages industry is driving the growth prospects of the global adhesive films market. The frozen food industry is growing continuously and this is creating a heightened demand for adhesive films. The use of bond paper with plastics to print desired information will fuel the demand for adhesive films. The growing busy lifestyles of people have fueled the demand for frozen food and this will also drive the growth prospects of the adhesive films market. The high demand for electronics, especially in Asia Pacific is pushing the growth of this market. Furthermore, the growth in the automobile industry and increasing scope of application in the medical sector is estimated to drive the growth prospects of the market for adhesive films across the globe. Additionally the adhesive films are being used in the defense and aerospace industries. Solar energy and LED lightings are some of the other applications which will boost the demand for adhesive films in the years to come.
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Customization of Product to Pose Challenge for Market Players
Some of the factors restraining the growth of this market include high cost and increased complexity in the production of these films on account of customization of product. This will challenge players in the market and create a demand for additional curing by heat or pressure. However, the various stringent environmental regulations and initiatives taken by governments to research and develop bio adhesive films will create new growth opportunities in the market.
The information presented in this review is based on a Transparency Market Research report, titled, “Adhesive Films (Acrylic, Polyvinyl Acetate (PVAc), Polyurethane, Polyvinyl Butyral (PVB), Epoxy and Others) Market by Technology (Pressure Sensitive, Hot-melt, Light-cured and Others), by End-user Industries (Packaging, Automotive, Medical, Electronics And Other) For Tapes, Labels, Graphics and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”
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