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The use of adhesive films has proven to be extremely beneficial in various industries. Proven to be more effective and easy to use compared to liquid adhesives, the adhesive films market has witnessed considerable change in the past few years. Adhesive films are not only easy to transport and handle, but are also much easier to apply over surfaces with minimum wastage.
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Adhesive films market: Drivers and opportunities
A booming consumer electronics industry is one of the primary factors that propel the adhesive films market. There has been growing demand for electrically insulating adhesive films used for substrates, packaging applications, components, lid sealing, and heat sink attach. Rising disposable incomes coupled with better standards of living in emerging economies such as India, China, and Brazil have been supporting the consumer electronics market. Furthermore, reduced production costs in China have been attracting major manufacturers from North America and Europe to shift base. The success of the automotive electronics sector has also bolstered the growth of the adhesive films market owing to increasing usage in applications such as GPS, Bluetooth, television, and rearview camera in automobiles.
Growing applications of adhesive films coupled with technological advancements are expected to fuel the growth of the market across the globe. The field of bio-based adhesive films poses immense opportunities for manufacturers. Adhesive films developed from crude oil have been in conflict with environmental regulations, which have led to the innovation of bio-based adhesive films.
Factors hampering the growth of the market
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The two major forces that restrain the market are high cost of production and the complexities of the manufacturing process. Since adhesive films are used in multiple applications, there arises the need to customize as per use, which adds to production intricacies. In addition, adhesive films need to be cured by pressure, heat, or curing agents before use, and this process increases production cost. Furthermore, the volatile prices of raw materials are also expected to inhibit the growth of the adhesive films market.
Adhesive films market: Application and regional analysis
Adhesive films find applications in various sectors and operational areas such as solar energy, defense and aerospace, LED lighting, consumer and industrial electronics, medical electronics, radio frequency identification, handheld communicating and computers, and automotive electronics. Adhesive films are used to enhance performance, improve design freedom, reduce weight, and simplify assembly. The different types of adhesive films are thermal conductive, electrical insulation, and electrical conductive.
The Asia-Pacific region dominates the global adhesive films market owing to mounting demand from segments such as automotive electronics and consumer electronics. The North American market for adhesive films followed next due to a thriving automotive and consumer electronics industry. Although the European market has failed to make a significant impact on the global scenario, the development of adhesive films that are specially designed for wind energy application is expected to support the growth of market in the region.
Competitive landscape
The worldwide market for adhesive films is highly competitive with a handful of top companies enjoying maximum power and hold over the global industry. Some of the players of the market are Adhesive Films, Inc., The Dow Chemical Co., 3M Company, Gurit Holding AG, E. I. du Pont de Nemours and Company (DUPont), BASF SE, Bostik US, Henkel AG & Company, KGaA, Presco Plc, GLUETEX GmbH, HMT Manufacturing Inc., and Bayer Corporation.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.