Adhesive Film Market Expected to Reach $26.7 Billion by 2026

According to a new report published by Allied Market Research, titled, "Adhesive Film Market by Film Material, Technology, Application, and End-User Industry: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global adhesive film market was valued at $17.3 billion in 2018 and is projected to reach $26.7 billion by 2026, growing at a CAGR of 5.5% from 2019 to 2026.

The key factors that drive the growth of this market include rise in application of adhesive films in radio frequency identification (RFID), LED lighting, aerospace electronics, construction, handheld computing, and consumer electronics.  Packaging industries also drive the growth of the adhesive film market as these films are increasingly utilized to increase the safety of packaging material. 

The global adhesive film market is segmented on the basis of film material, technology, end user industry, and region. On the basis of film material, it is divided into polypropylene, polyvinyl chloride, polyethylene and others. Others include materials such as polyurethane, polyesters, and ethylene vinyl acetate. The polyvinyl chloride segment was the highest contributor to the market and is expected to grow at a CAGR of 5.0% during the forecast period. The polyethylene segment is the fastest growing segment and is estimated to grow at a CAGR of 6.5%. The polyvinyl chloride and polypropylene segments collectively accounted for around 43.8% market share in 2018, with the former constituting around 24.8% share. 

By technology, it is classified into water-based, solvent-based, hot melt, pressure-sensitive and others. The water-based segment was the highest contributor to the market and is expected to grow with a CAGR of 5.6% during the forecast period. The pressure-sensitive segment is estimated to grow with the highest CAGR of 6.4%. The water-based and pressure-sensitive segments collectively accounted for around 57.9% market share in 2018, with the former constituting around 41.0% share. 

Depending on end user, the market is classified into electrical & electronics, aerospace, automotive & transportation and others. The other end users include furniture, footwear, and construction. The automotive and transportation segment was the highest contributor to the market and is expected to grow with the CAGR of 6.0% during the forecast period. The electrical and electronics segment is expected grow with the CAGR of 6.2%.

Region wise, the global adhesive film market is analyzed across North America ( the U.S., Canada, and Mexico), Europe (Germany, France, Italy, , the UK, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA). Asia-Pacific is expected to exhibit a faster growth rate during the forecast period, owing to increase in consumer electronics demand. Moreover, cheap labor availability and favorable government policies in India and China have encouraged manufacturers to shift their manufacturing base in these countries. Asia-Pacific was the highest revenue contributor and is expected to grow with a CAGR of 6.3%. Asia-Pacific and Europe collectively accounted for around 69.0% share in 2018, with the former constituting around 40.0% share. 

The key players involved in the market include 3M Company, Henkel AG & Co. KGaA, DowDuPont, Huntsman International LLC., Avery Dennison Corporation, Sika AG, Wacker Chemie AG, Hexcel Corporation, Cytec Solvay Group, and Evonik Industries.

Key Findings of the Study:

• In 2018, the Asia-Pacific market held a share of over 40.0% in the adhesive film market size.
• The Water-based technology segment is expected to hold a dominant position in the adhesive film market share during the forecast period.
• The Pressure-sensitive segment is projected to grow at a CAGR of 6.4% by 2026.
• The automotive and transportation dominated the adhesive film market in 2018 
• The qualitative data in the report aims on the adhesive film market trends, dynamics, and developments in the adhesive film industry while the quantitative data provides information about the market share and market size, in terms of revenue and volume.