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Oct 1, 2020 12:10 PM ET

Global Adhesives Films Market Set For Rapid Growth, To Reach Value Around USD 1.71 Billion By 2024

iCrowd Newswire - Oct 1, 2020

Zion Market Research has published a new report titled “Adhesives Films Market by Product Type (Pressure Sensitive, Hot-melt, Light-cured, and Others), and by Application (Aerospace, Electrical & Electronics, Automotive & Transportation, Consumer, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global adhesives films market was valued at approximately USD 1.18 billion in 2017 and is expected to generate revenue of around USD 1.71 billion by the end of 2024, growing at a CAGR of around 5.4% between 2018 and 2024.

Adhesive films are broadly used in the electronics, LED lightings, construction, automotive electronics, and aerospace among others. Increasing demand for the adhesive tapes from the various end-user industries such as automotive, electronics, food & beverages, and packaging is driving the market growth. Moreover, rising packaging applications, particularly in the food & beverages industry is expected to drive the market in the coming years. Furthermore, the growing automobile industry and increasing demand for electronics are estimated to propel the growth prospects of the adhesives films market across the globe. In addition to this, the adhesive films are being used in the aerospace and defense industries. LED lightings and solar energy are some of the other applications which will fuel the demand for adhesive films in the upcoming years.

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Global Adhesives Films Market

On the basis of product type, adhesives films market is classified into pressure sensitive, hot-melt, light-cured, and others. Hot-melt adhesives films segment within the product type accounted for a major market share in 2017 and is anticipated to continue its dominance during the forecast period. Hot-melt adhesives films are widely adopted particularly in the construction sector due to their high bond strength and easy applicability which brings down the time process. Hot melt films segment is anticipated to generate approximately 146 kilotons by 2024.

Based on the application, the market is segmented into aerospace, electrical & electronics, automotive & transportation, consumer, and others. Electrical & electronics industry segment within the application is estimated to account for the major market share in the upcoming years. Adhesive films are used in the electrical & electronics industry to hold down warning labels, protective insulation wrap, and information labels. In addition to this, adhesive film-based tapes are used to manufacture consumer electronics devices which include cameras and mobile phones. Rising demand for such film-based labels, tapes and graphic films in electrical & electronics industry is boosting the market growth.

On the basis of region, Asia Pacific is anticipated to be the dominant region during the forecast timeframe. The growth in this region is attributed to the industrial development and improving economic conditions, as the region is emerging and is likely to offer lucrative opportunities for adhesives films market growth in the region. Moreover, the region has made substantial contributions towards global adhesives films market in past and is likely to do so in future owing to the growth of the manufacturing and processing sectors.

Some of the major players operating in the adhesives films market are 3M Company, H.B. Fuller Company, Arkema, Henkel AG & Company KGaA, Presco, Avery Dennison Corporation, UPM-Kymmene OYJ, Gluetex, Ashland, Inc., Cytec Solvay Group, Bayer, BASF SE, Bostik, and Eastman Chemical Company among others.

This report segments the global adhesives films market as follows:

Global Adhesives Films Market: Product Type Segment Analysis

Global Adhesives Films Market: Application Segment Analysis

Global Adhesives Films Market: Regional Segment Analysis

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Keywords:    Adhesives Films Market

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