Demand from various end-use industries strengthens Bonding Films Market
Posted by rohan on January 30th, 2020
A bonding film is a high-strength and fast-bonding adhesive film that can hold materials together by attaching their surfaces. Characteristics of bonding films involve flexibility, narrow widths, minimization of oozing, and controlled and consistent thickness. Bonding films are broadly employed in different industries due to their purposes like strength, bonding, high-temperature protection, etc. The world bonding film market was worth USD 718.17 million in 2018. It is estimated to be around USD 1071.35 million in 2023 with a current CAGR of 8.31%.
Market drivers and restraints:
A key factor likely to drive the bonding film market is the increase in demand for these films from different end-use industries. Additionally, the escalated use of bonding films over traditional bonding methods owing to their effectiveness is expected to boost the market. Furthermore, the increased use of bonding films in the semiconductor manufacturing industry is further estimated to drive the world market. Nevertheless, high storage and transportation cost and more time requirement for processing techniques are anticipated to limit the expansion of this market in the coming years.
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Report segmented as:
Based on geography, the world bonding films market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific is expected to be a significant region of the global market. Europe and North America also held a substantial market share. Nevertheless, the market in these areas is estimated to expand at a sluggish pace due to stringent government regulations against the use of harmful adhesives.
Important market players:
Major players operating in the world bonding film market are Henkel AG & Co. KGaA, 3M, Cytec Solvay Group, Hitachi Chemical Co., Ltd., Arkema S.A., H.B. Fuller, Hexcel, Corporation, Dupont, Gurit, Koninklijke Ten Cate Bv, and Master Bond Inc.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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About the Authorrohan
Joined: September 20th, 2017
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