Newly released data from the film adhesives market analysis concludes that demand expanded at a CAGR of over 2% from 2016 to 2020. In 2020, the market enjoyed a valuation of over US$ 1 Bn, which is expected to nearly double to reach around US$ 2 Bn by 2031.
Sales are anticipated to remain elevated across the electrical & electronics industry, generating more than 2/5 revenue through 2031, while aerospace is expected to trail close behind.
Key Points Covered in Film Adhesives Industry Analysis:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Film Adhesives and How to Navigate
- Recommendation on Key Winning Strategies
Film Adhesives Market Insights: Historical Analysis of 2016-2020 Vs Future Market Outlook for 2021-2031
As per industry survey by Fact.MR - a market research and competitive intelligence provider, from 2016 to 2020, film adhesives sales expanded at over 2% CAGR. Growth was spurred by increasing applications across such key industrial sectors, including automotive & transportation, electrical & electronics manufacturing and aerospace.
Growth prospects dimmed significantly with the outbreak of COVID-19, with Fact.MR’s film adhesives industry analysis estimating a market value of just over US$ 1 Bn in FY 2020. Declining industrial activity contracted production targets, in lieu of stringent lockdowns. However, from 2021 to 2031, the market is slated to expand at approximately 4% CAGR.
How are Rising Adhesive Technological Advancements Spurring Film Adhesive Demand?
As global environmental sustainability concerns acquire precedence, existing adhesive technologies are taking a turn for the better. New adhesive chemistries are opening up avenues for future growth prospects. Compounds featuring high bond strength, durability, temperature and chemical resistance have played an essential role in the design and manufacturing of breakthrough products.
For example, Henkel AG’s epoxy assembly films provide enhanced functionality and power requirements for electronic equipment. A core feature of this technology is thermal management. Hence, they are broadly applied across such key industries as aerospace, telecommunications and electronics respectively. These also help generate minimum wastage during the adhesive application process.
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Why is the Film Adhesives Industry Research Vouching for Opportunities in the Aerospace Industry?
Rising global interconnectedness has provided massive stimulus to air transportation, both commercial and civil. As per the International Air Transport Association (IATA), global air travel demand arose by 4.2% in 2019. Hence, demand for new aircraft also expanded, providing a platform for heightened film adhesives demand.
Over the years, several manufacturers have capitalized on this ever opportunistic industrial domain. For instance, Permabond, an ISO 9001 certified manufacturer, offers anaerobics, cyanoacrylates, epoxies, acrylics and UV curing adhesives. Likewise, in June 2021, Solvay S.A launched the AeroPaste 1006, 1009 and 1100 adhesive pastes, along with the BR 179 non-chromate primer.
What is the Film Adhesive Demand Forecast across the U.S.?
Fact.MR’s film adhesives industry survey for the U.S concludes that the market reached almost US$ 340 Mn in 2020. Such heightened sales may be attributed in large part to a flourishing aerospace industry since the past several years.
According to the Aerospace Industries Association, the U.S aerospace & defense industry posted lucrative gains in 2019, with combined industry sales valued at over US$ 909 Bn or 6.7% increase from 2018. Bulk of this growth occurred in space systems.
Additionally, the number of military aircraft increased significantly in 2020, amounting to 13,000 units. Consequently, aircraft component sales have inclined substantially to service these aircraft, paving way for enhanced film adhesive sales.
How Does China’s Film Adhesive Industry Survey Appear for the Long-Run?
China represents one of the most opportunistic markets for film adhesives sales, expected to reach more than US$ 350 Mn by 2031, growing at a noteworthy 7% CAGR. Maximum uptake is expected in the automotive & transportation sector, as sales of both conventional and electric vehicles acquire momentum.
Simultaneously, growth of the Chinese film adhesives landscape is reliant on a strong electronics & electrical industry. Rapid automation and Industry 4.0 trends are prompting various industries to invest in high-grade electronic & electrical devices, thus inclining growth prospects.
Sales are likely to be especially strong in the consumer electronics industry, which is valued at almost US$ 300 Bn as per recent estimates.
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Why are Film Adhesive Sales Forecasts Promising for Electrical & Electronics Industry?
Based on end use industry, demand for film adhesives is expected to remain strong across the forthcoming decade. As of 2019, the segment generated over 1/3 of the global revenue share, expected to account for over 40% by 2031, on the back of rising demand for electrical & electronics components across key industries.
Film adhesives are usually deployed across electrical & electronic components for bonding internal and external components, such as circuitry, switches, wires, protective coverings and others. They are also deployed to provide internal insulation and temperature regulation.
What is the Film Adhesive Demand Outlook for Epoxy Resins?
By resin, sales of epoxy film adhesives are anticipated to surpass US$ 790 Mn by 2031-end, projected to record a CAGR exceeding 4% in value terms. Growing demand for high performance adhesives is stimulating future growth prospects.
Owing to their ability to adhere to a broad spectrum of materials, enhanced strength and resistance to chemicals, as well as their ability to resist creep under sustained loads, epoxies are the most frequented film adhesives.
Presence of multiple regional and global level manufacturers renders the film adhesives landscape highly competitive. To withstand this intense competition, key players are focusing on capacity expansion and product launches to cater to the ever widening demands from key end use industries.
- In April 2021, 3M Company announced addition of the 2484 3MTM Single Coated Medical Film Tape with hi-tack silicone adhesive on liner, which is breathable, comfortable and enables up to a 7-day wear time for patients suffering from chronic diseases.
- In February 2021, Axiom Materials Inc. introduced the CerFaceTM AX-8810 surfacing film designed to improve the outer finish of ultra-high temperature CMC components to reduce manufacturing costs, for industrial and aerospace applications.
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Historical Data Available for
US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Market Segments Covered
- Film Adhesives for Electricals & Electronics
- Film Adhesives for Aerospace
- Film Adhesives for Automotive & Transportation
- Consumer Film Adhesives
- Film Adhesives for Other End Use Industries
- Epoxy Film Adhesives
- Cyanate Ester Film Adhesives
- Acrylic Film Adhesives
- Other Resin Film Adhesives
- FAQs -
The global film adhesives market is valued at over US$ 1 Bn.
By 2031, the market for film adhesives is expected to expand almost 2X to be valued at around US$ 2 Bn.
As per Fact.MR’s film adhesives industry survey, the market expanded at over 2% CAGR from 2016 to 2020.
Increasing demand for electrics & electronics has been majorly influencing sales of film adhesives in the past few years.
Sales of film adhesives are expected to incline most favorably across the aerospace industry.
The U.S, Canada, Japan, China, and Germany are expected to remain the top 5 markets for film adhesives.
3M, Henkel AG, H.B Fuller Company, GLUETEX GmbH, and Solvay S.A are the top 5 manufacturers of film adhesives.
Demand for epoxy film adhesives are anticipated to surpass US$ 790 Mn, expanding at a CAGR exceeding 4% through 2031.
North America is expected to generate credible expansion opportunities, with the U.S. being valued at almost US$ 340 Mn in 2020.
India, Australia, and South Korea are poised to emerge as key hotspots in the Asian landscape for film adhesives.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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