The growth of the market is governed by various factors such as growing demand from end use industries
Market Size – USD 56.23 Billion in 2018, Market Growth – CAGR of 5.2%, Market Trends-Emergence of lightweight vehicles
The adhesive film market is expected to reach USD 84.68 Billion by 2026, according to a new report by Reports and Data. Increasing adoption of these films increases the shelf life of materials and growing demand from the medical industry due to its features, including higher UV light, temperature resistance, and others. Furthermore, developing e-commerce, pharmaceutical, and consumer durables industries are anticipated to drive global market growth. Also, increasing demand from emerging economies is an additional factor expected to drive global market growth. Expanding packaging applications, especially in the food & beverages industry, is expected to stimulate the adhesive films market over the forecast period. The frozen food industry has been the dominant consumer over the past few years. These are used to link a paper with the plastics or cardboard presenting the desired information. Improvement in frozen food demand owing to hectic lifestyle and increase in consumer spending volume is expected to drive adhesive films market growth.
APAC is anticipated to witness the highest CAGR of 5.6% during the forecast period. Growing consumer electronics demand, particularly in the Asia Pacific, is expected to stimulate market demand. Significant electronic organizations are moving their manufacturing base to countries such as India and China, owing to affirmative government policies and reduced labor availability. They are mainly utilized for heat sink attach, electronic applications lid sealing, components, and substrates.
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Further key findings from the report suggest
- The adhesive film market is estimated to reach USD 84.68 Billion by 2026, at a CAGR of 5.2% during the forecast period.
- The tape applications account for the largest share of 46.7% of the market in 2018.
- Increasing application of adhesive tapes in several industries such as electrical & electronics, healthcare, and building & construction is rising the growth of the adhesive film tapes market.
- The electrical & electronics end user segment is anticipated to witness the highest CAGR of 5.8% during the forecast period.
- Adhesive films are utilized in the electrical & electronics industries to hold down industry warning labels, protecting insulation wrap, and information labels. Furthermore, adhesive film-based tapes are being used in the production of various consumer electronics devices, such as mobile phones and cameras. Growing demand for such adhesive film-based labels, tapes, and graphic films in electrical & electronics applications are encouraging the growth of the Adhesive Film Market.
- The polypropylene (pp) film type is expected to witness the highest CAGR of 6.0% during the forecast period.
- Polypropylene is a more flexible and cost-effective plastic than other thermo-forming and polyolefin materials. Also, polypropylene is extremely resistant to a wide variety of acids and solvent solutions with a temperature range up to 212°F.
- Various players are developing strategies to mark their presence in the industry.
- 3M Company invested USD 1.8 billion in 2015, to improve its five business segments, specifically, Safety and Graphics, Consumer Industrial, Health Care, and Electronics and Energy. The company intends to develop the products portfolio of adhesive tapes to satisfy the increasing demand from several regions.
- The Key players in the Adhesive Film Market include 3M Company, UPM-Kymmene OYJ, Avery Dennison Corporation, CCL Industries, Cosmo Films, Constantia Flexibles, Toray Industries, Mondi Group, Coveris, and Ester Industries.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/adhesive-film-market
For the purpose of this study, Reports and Data have segmented the market on the basis of Film Type, Application, End User, and region:
Film Type Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2016-2026)
- Polypropylene (PP)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
Application Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2016-2026)
- Graphic Films
End User Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2016-2026)
- Electrical & Electronics
The report emphasizes the following key questions:
- What are the most lucrative and promising growth prospects for the market?
- Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
- Which geographies are estimated to exhibit the highest growth and the underlying causes?
- Which factors are impacting the future of the market and what are the driving factors?
- What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
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