Adhesive Films Industry Size to Reach Billion by 2024

Posted by Marsh William on May 2nd, 2018

Adhesive films are materials coated with adhesives. They have the ability to join two surfaces. These are majorly used in automotive electronics, consumer electronics, handheld computing, construction, and aerospace electronics. The global adhesive films market is set to attain nearly USD 17 billion by 2024, at a CAGR over 6% during the forecast period (2016 - 2024).

The Adhesive Films Market had a demand of 3.1 million tons in 2015. Need for compact electronic devices and lightweight vehicles are primarily driving it. Boosting demand for consumer electronics in Asia Pacific and food & beverage packaging is said to drive the market. Additionally, expansion across automobile manufacturing coupled with demand for fuel-efficient vehicles also propels market revenues.

However, the market faces challenges in the form of product customization and high manufacturing costs. But, the production of bioadhesive films can provide it new growth avenues.

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https://www.hexaresearch.com/research-report/adhesive-films-market

The Adhesive films market is split according to products, technologies, applications, end-users, and regions. Products are acrylic, polyurethane (PU), polyvinyl acetate (PVAc), polyvinyl butyral (PVB), epoxy, and others. ‘Others’ includes EVA (ethylene-vinyl acetate), SBC (styrenic block copolymers), polypropylene, polyesters, and silicone.

Acrylic films were the leading segment in 2014, with over 25% shares (with respect to demand) in 2014. They are projected to display significant growth over the forecast period. PVAc followed them, with 20% shares the same year. PVB films are prominently used in the automobile industry. They are used to bind vehicles with glass sheets.

Technologies in the adhesive films market comprise hot melt, light cured, pressure-sensitive, self cured, and chemical cured. Pressure-sensitive led in 2014. Its demand is anticipated to reach 4 kilotons (KT) by 2024. Hot melt films should generate nearly 146 KT of volumes by 2024.