Film Adhesive Market

Film Adhesive Market Size, Share, Growth Analysis, By Application(Electronics & Electrical, Medical), By Regional (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)(North America, The U.S.) - Industry Forecast 2024-2031

Report ID: UCMIG15E2521 | Region: Global | Published Date: Upcoming |
Pages: 165 | Tables: 55 | Figures: 60

Film Adhesive Market Insights

Market Overview:

The global film adhesive market has displayed a robust foundation for growth. Projections indicate a steady advancement with a compound annual growth rate (CAGR) of 2.3% from 2020 through 2027. This promising trajectory can be attributed to escalating demand for innovative adhesive solutions across various industries. Film adhesives, known for their versatile applications and bonding efficiency, are anticipated to play a pivotal role in addressing diverse bonding needs in sectors such as manufacturing, construction, aerospace, and automotive. The consistent expansion of these industries, coupled with the ongoing quest for enhanced adhesive technologies, underscores the favorable landscape for the global film adhesive market's sustainable expansion.

Film Adhesive Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Specialty Chemicals by segment aggregation, the contribution of the Specialty Chemicals in Diversified Materials and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

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The market for Film Adhesive was estimated to be valued at US$ XX Mn in 2021.

The Film Adhesive Market is estimated to grow at a CAGR of XX% by 2028.

The Film Adhesive Market is segmented on the basis of Application, Regional (Volume, Kilotons; Revenue, USD Million, 2016 - 2027).

Based on region, the Film Adhesive Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the Film Adhesive Market are view , The film adhesive market size was valued at USD 398.1 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 2.3% from 2020 to 2027. The growth in the electronics and electrical sector, coupled with medical equipment manufacturing, is anticipated to propel market growth. , Film adhesive, as the name implies, is a type of adhesive tape used for large and small substrates in various end-use industries. In the electronics industry, considering the shrinking of assembling with rising power requirements, it becomes vital to have proper thermal management. Application of film adhesive in electronics and electrical provides thermal and mechanical properties and reduces the assembly costs. , U.S. is amongst the leading manufacturers in the electronics and electrical industry. In 2018, the country exports for electronic circuit components stood at USD 37.7 billion with a share of 5.3%. Rising concerns among electronic manufacturers over-improving product quality, lead times, and low-cost production propelled them to make use of innovative adhesives. Technological advancements in polymer chemistry and delivery mechanisms benefit manufacturers and provide them with a wide variety of options to choose from. Epoxy film adhesives offer advantages in electronic manufacturing over liquid and paste adhesives owing to their solid state that allows them to be cut in desired shape as per customization. , The ability of film adhesive to be applied uniformly to the substrate with least wastage makes it a preferable choice in joining intricate shapes and in applications that require precise bond lines. Hence, they are used for attaching substrates into microelectronic package housing, where sensors and other sensitive electronic components are involved. , However, the market for film adhesive is anticipated to witness sluggish growth across the forecast period owing to the availability of substitutes in the market and the Covid-19 pandemic across the globe. The crisis has significantly impacted the raw material supplies for adhesives and sealants. Apart from resins and binders, several other materials are used in production, which is being directed towards other applications. For example, alcohols are sent for hand sanitizers and photo initiators for UV applications. , Application Insights , Medical application is expected to witness a CAGR of 2.7% from 2020 to 2027 as the Covid-19 pandemic has affected different end-use industries with varying levels of impact. Packaging, DIY, and medical equipment industries are anticipated to be the least impacted sectors in this crisis. Staying at home has boosted the DIY skills amongst people, which is leading towards more demand for products, such as sealants, caulks, and tapes, especially for interior repairs and remodeling. Growing demand for packaged foods is expected to benefit the film adhesive industry growth, especially during the ongoing crisis. , Based on application, the market for film adhesive has been segmented into electronics and electrical, medical, automotive, and others. Electronics and electrical accounted for the largest volume share of 34.7% in 2019 owing to extensive use of film adhesive in electronic and electrical components and white goods, such as bonding internal and external components, decorative trim and logo mounting, electronic corrosion prevention, internal insulation, surface protection, high temperature resistant masking, prevention from dirt and debris, and thermal management. , The medical segment is anticipated to witness the fastest growth across the forecast period. Film adhesive is widely used in the medical industry in ultrasound and mammography equipment, x-ray and blood monitoring equipment, PET/CT and MRI scanners, and bone densitometers. Its use has further propelled amidst the pandemic with an increasing need for medical equipment. , The other application segment includes construction, aerospace and defense, paper/printing, and others. The segment is anticipated to witness sluggish growth, along with automotive and transportation. Decline in industrial and manufacturing activities across the globe, coupled with transport-related delays in supplying raw materials, has impacted the segment growth. , Regional Insights , Asia Pacific dominated the market for film adhesive in 2019 with a revenue share of 56.4% and is expected to witness the fastest growth in the forecast period. China emerged as the largest market in the region in 2019 and countries like India and South Korea are anticipated to witness significant growth during the forecast period owing to the rising emphasis on industrial production in these developing economies. , The electronics and electrical segment are anticipated to witness considerable growth in the long term in Asia Pacific owing to increasing investments in the sector. The production in the electronics sector including consumer electronics, computer hardware, mobile phones, components, and LEDs witnessed significant growth in past years in India. For example, industrial electronics production registered a CAGR of 15.0% from 2014 to 2019. , Significant growth is anticipated in coming years, considering the investments and favorable government policies in the country. For example, the National Policy on Electronics 2019 targets a turnover of USD 400 billion by 2025 in the country. Moreover, in 2019, Chinese white goods company, Midea announced an investment of ₹1,350 crores in a manufacturing plant in Pune, Maharashtra, India, which will be engaged in producing home appliances, HVAC products, and compressors. , Central and South America is the second fastest growing regional market. The growth can be attributed to medical and automotive segments. The market in Brazil has huge potential and ample opportunities for manufacturers to invest. Country’s medical equipment revenues reached USD 10.5 billion in 2018 and the public and private health expenses accounted for a share of 9.1% of the GDP. , Brazil is amongst the few countries to witness positive growth of 2.3% in automotive production in 2019. According to the National Association of Motor Vehicle Manufacturers, the country is expected to witness positive growth in 2020 as well, which is expected to positively influence the film adhesive demand in the country. , North America and Europe are expected to witness sluggish growth across the forecast period owing to the Covid-19 pandemic that has largely impacted the economy, especially in countries like U.S., Spain, Italy, U.K., Germany, France, Russia, and Turkey. It is difficult for the countries to resume their operations soon, which is expected to impact film adhesive industry growth in the long term. , KEY MARKET SEGMENTS, By Application, Electronics & Electrical , Medical , Automotive , Others , By Regional (Volume, Kilotons; Revenue, USD Million, 2016 - 2027) , North America , The U.S. , Europe , Germany , The U.K. , Asia Pacific , China , India , South Korea , Central & South America , Brazil , Middle East & Africa , KEY MARKET PLAYERS, 3M , Henkel , Bostik , Toray Industries , Avery Dennison Corporation , H.B Fuller".

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Film Adhesive Market

Product ID: UCMIG15E2521