Film Adhesives Market

Film Adhesives Market Outlook (2023-2033)

The global film adhesives market is expected to register close to US$ 1.1 billion in 2023 and anticipated to grow at 2.2% CAGR to reach US$ 1.3 billion by the end of 2033.

Film adhesion is generally used to adhere plastic thin sheets with other materials. Various thermoplastics are used for this purpose. Dry film adhesives are extremely versatile, easy to use, and strong.

Report Attributes	Details
Film Adhesives Market Size (2022A)	US$ 1.0 Billion
Estimated Market Value (2023E)	US$ 1.1 Billion
Forecasted Market Value (2033F)	US$ 1.3 Billion
Global Market Growth Rate (2023-2033)	2.2% CAGR
East Asia Market Share (2023)	25.7%
China Market Growth Rate (2023–2033)	7.0% CAGR
Key Companies Profiled	Arkema Group Solvay S.A. GLUETEX GmbH H.B Fuller Company Henkel AG & Co. KGaA 3M Company

Film Adhesives Market Historic and Future Path Analysis

Film Adhesives are used for the adhesion of one protective component to the other surface likely to be integrated into aircraft, laptops, vehicles, and others. The growing demand across various end-use industries is anticipated to drive the film adhesive market during the forecast period. The aforementioned factors are anticipated to drive the film adhesion market with a growth rate of 2.2% during the forecast period.

• Short Term (2023–2026): The growing aerospace industry and related investment by both aircraft manufacturers and government are likely to drive the demand for film adhesives in forthcoming years.
• Medium Term (2026–2029): Mushrooming automotive industry especially in emerging economies such as China, India, and Brazil creates immense growth opportunities for the market players in the film adhesive production business.
• Long Term (2029–2033): Steps taken by market players to gain high-profit margins in the highly competitive market. Pricing and development of eco-friendly film adhesives are factors to drive the film adhesive market during the forecast period.

On the back of the aforementioned facts, the market is anticipated to grow at a CAGR of 2.2% during the forecast period from 2023–2033, According to the Fact.MR, a market research and competitive intelligence provider.

Market Dynamics Overview

“Surging Aerospace Industry to Bolster Film Adhesives Market Growth”

The growing aerospace industry is set to drive the film adhesive market during the forecast period. For instance, Airbus and Boeing delivered 565 and 411 aircraft till November 2022, compared to 518 and 302, respectively, in the first 11 months of 2021. Airbus and Boeing delivered 68 and 48 commercial jets in November 2022, in comparison to 58 and 34 aircraft deliveries, respectively, in the same month last year.

The aerospace industry highly depends upon film adhesives to ensure wear and tear resistance of the aircraft. Film adhesives are used for the exterior, interior, and engine compartments of aircraft. It is used to permanently bond various things. Film adhesives are also used as a processing aid to instantly bond parts, that are glued with slower-curing adhesives. It is also used to quickly fix damaged interior trim.

“Factors Affecting Film Adhesives Market Growth”

Factors such as fluctuating crude oil prices and the energy crisis hamper film adhesives production. For instance, the energy crisis arising due to the ongoing Russia-Ukraine war is likely to push certain economies to halt the operations of manufacturing units, as numerous European countries are highly dependent on Russia or Ukraine for their energy needs.

This lead to a halt in the production of film adhesives, especially during winter to meet basic energy requirements. Also, the disrupted supply chains are crucial factors restraining the film adhesion market growth.

Predominating economies such as Italy, Saudi Arabia, China, and Russia in terms of oil and gas production are witnessing certain crises which led to a hike in oil and gas prices at the global level.

For instance, Italy and Russia are witnessing numerous sanctions and trade crises imposed by the U.S. coupled with Saudi Arabia's initiatives to reduce per-day oil production, and China is still emerging from the COVID-19 crisis, such factors are responsible for skyrocketing fuel prices, affecting film adhesives market growth as crude oil is used in the manufacturing of adhesives.

Country-wise Insights

What are the Factors Driving Film Adhesives Demand Across India?

The Indian automotive industry is growing at a fast pace. For instance, the Indian passenger car market is estimated to grow at a CAGR of 9.0% between 2022 and 2027 and reach a valuation of US$ 54.8 billion in 2027 from US$ 32.7 billion in 2021.

In 2025, the Indian electric vehicle market is anticipated to reach US$ 7.1 billion by 2025, due to the growing disposable income and availability of cars at affordable rates. The growing government efforts towards domestic manufacturing, to assemble parts of the vehicle film adhesions are used. It not only enhances the vehicular wear and tear resistance but also provides durability to the vehicle to survive in harsh environments as well.

Why is the Brazilian Film Adhesives Market Expected to Be Highly Lucrative?

The electric vehicles market is growing tremendously across the globe due to the consumer preference towards sustainable moving as well as government favorable incentives are likely to create high demand for the electric vehicle market at the global level, especially across emerging economies such as Brazil.

Brazil projected a plethora of opportunities for electric vehicle manufacturers across the country as supportive government incentives, shifting consumer preference, and other factors are contributing to the EV market growth. On the back of such factors the Chinese automaker, BYD Co Ltd started marketing its two new electric vehicle models in Brazil in November 2022.

Brazil has over 0.1 million electric vehicles operating on the roads, including 50,000 electric buses and many to come during the forecast period. Owing to the thriving electric vehicle and automotive industry across the country the automotive manufacturing sector projects high demand for film adhesives to keep the parts intact in the position and enhance the durability and wear & tear resistance of the vehicle. It also improves overall vehicle performance.

Category-wise Insights

Why Epoxy Resin is Widely Used and Gaining Traction?

Epoxy adhesive films are used as solids and commonly have no pot-life limitations and they are eco–friendly. When the curing heat is applied, the adhesive cures in place, and any squeeze–out is avoided.

Epoxy film adhesive is utilized to support the bond between different materials. These joint fillers have an effortlessly workable framework. It has a stable structure against chemical substances and their consequences. Additionally, its mechanical and chemical resistance is also very high.

Generally, epoxy resin is used in the manufacturing of vehicles, aircraft, bicycles, and snowboards. However, epoxy adhesives aren't restricted to solely structural applications. Owing to these epoxy adhesives are anticipated to witness high demand and are likely to drive the market during the forecast period.

Why Electricals & Electronics are Lucrative for the Film Adhesives Market?

With the penetration of technology, no industry is left untouched. Every individual is highly dependent on technology for routine tasks. Smart homes, drones, PCs, video games, laptops, mobiles, and robots, are all contributing tremendously to easing out routine tasks and saving time.

Both manufacturers and governments are adopting various measures to increase manufacturing and use of consumer electronics to gain high-profit margins and develop the economy respectively. With the growing manufacturing base, the demand for film adhesive will increase to bond parts of the machine.

For instance, the Indian government announced National Electronics Policy 2018, this government plans to achieve a turnover of around US$ 400.0 billion in the domestic electronics manufacturing industry by the end of 2025. Hence, growing consumer electronics industry the demand for film adhesives also increase tremendously.

As to develop any product of consumer electronics, film adhesives provide a strong bond while safeguarding components from the damaging effects of heat, excessive vibration, moisture, mechanical shock, corrosion, extreme environmental prerequisites, and others. Such factors are likely to drive the demand for film adhesives in the consumer electronics industry.

Key Stratagems by Market Titans

Prominent players operating in the film adhesive market are 3M, Henkel AG, H.B Fuller Company, GLUETEX GmbH, and Solvay S.A.

Manufacturers are adopting price optimization as a key strategy to curb the demand pool during the assessment period. Further, new entrants are likely to witness high competition from well-established market players and stringent government regulations regarding chemicals and production-related emissions to challenge new entrants to penetrate the market.

The market players are investing in research and development to develop innovative products to cater to the needs of consumers.

For instance :

• In June 2021, Henkel AG launched a two-part epoxy adhesive named, Loctite EA 9365FST, which reinforces and bonds thermoset and thermoplastic substrates for use in aircraft interiors.
• In February 2021, Axiom Materials Inc. unveiled CerFaceTM AX-8810, a surfacing film designed to enhance the outer finish of ultra-high temperature CMC components for aerospace and industrial applications.

Fact.MR has provided detailed information about the price points of key manufacturers of film adhesives positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Film Adhesives Industry Research

• By Resin :

  • Epoxy
  • Cyanate Ester
  • Acrylic
  • Other

• By End–Use Industry :

  • Electricals & Electronics
  • Aerospace
  • Automotive & Transportation
  • Consumer
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA