Global Film Adhesive Market by Application (Electronics & Electrical, Medical, Automotive) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global film adhesive market was worth USD 398.1 million in 2019. It is projected to grow at a compound annual rate (CAGR of 2.3%) between 2020 and 2027. Market growth is expected to be driven by the growth of the electronics and electrical sectors, as well as medical equipment manufacturing.

Film adhesive is a type adhesive tape that can be used to attach large or small substrates to various industries. It is vital that thermal management is done correctly in the electronics industry. With shrinking and rising power requirements, it is essential to be able to assemble with minimal shrinkage. Film adhesive is used in electronic and electrical to improve thermal and mechanical properties, and lower assembly costs.

The United States is one of the world's leading producers in the electrical and electronics industry. The country's exports of electronic circuit components amounted to USD 37.7 million in 2018, with a 5.3% global share. Electronic manufacturers are increasingly concerned about improving product quality and lead times. They also want to reduce costs. This is why they have started to use innovative adhesives. Manufacturers have a variety of options thanks to technological advances in polymer chemistry, delivery mechanisms and other technical advancements. Because they are solid, epoxy film adhesives can be cut to any shape you desire. This is a major advantage over paste and liquid adhesives in electronic manufacturing.

Film adhesive is a preferred choice for joining complex shapes and applications that require precise bond lines because it can be applied uniformly to the substrate. They are used to attach substrates to microelectronic packaging housings that contain sensitive electronic components such as sensors.

The availability of substitutes and the Covid-19 pandemic around the world will likely result in a slowdown in growth for the film adhesive market. The crisis has had a significant impact on the supply of raw materials for adhesives and sealants. Other than resins and binding agents, many other materials are used in production. This material is being used for other purposes. Alcohols can be used as hand sanitizers or photo initiators to UV applications.

Application Insights

The Covid-19 pandemic, which has had varying degrees of impact on different industries, is expected to have a 2.7% CAGR in medical application between 2020 and 2027. The least affected sectors by this crisis are expected to be packaging, DIY, and the medical equipment industry. People are more likely to do their own repairs and remodelling, thanks to the increased DIY skills at home. The film adhesive industry is likely to grow due to the increasing demand for packaged food, particularly during this current crisis.

The market for film adhesive can be divided by application into electronic, electrical, medical and automotive. The largest share of the market for film adhesive was 34.7% in 2019. This is due to its extensive use in electrical and electronic components and white goods. These include bonding internal and exterior components, decorative trim, logo mounting, electronic corrosion prevention and internal insulation.

The fastest growing segment in the forecast period is the medical. The medical sector uses film adhesive in many applications, including ultrasound, mammography, x-ray, and blood monitoring equipment. Its widespread use has helped to propel it amid the increasing demand for medical equipment.

Construction, aerospace and defense, paper/printing and other applications are the other segments. This segment will see slow growth along with transportation and automotive. The segment's growth has been affected by a decline in manufacturing and industrial activities around the world, as well as delays due to transport in supplying raw material.

Regional Insights

Asia Pacific was the largest market for film adhesives in 2019, with 56.4% revenue share. It is expected to experience the fastest growth over the forecast period. China was the biggest market in the region, while India and South Korea were expected to see significant growth in the forecast period due to increased industrial production in these emerging economies.

The sector's investments are expected to drive significant growth in electronics and electrical segments in Asia Pacific over the long-term. In India, the production of electronics has seen significant growth over the past few years. This includes components and consumer electronics as well as computer hardware. From 2014 to 2019, the CAGR for industrial electronics was 15.0%.

Given the favorable government policies and investments made in the country, significant growth can be expected in the coming years. The National Policy on Electronics 2019 aims to achieve a total turnover of USD 400 million by 2025. Midea, a Chinese white goods company, announced in 2019 that it would invest?1,350 million in Pune, Maharashtra in India to produce home appliances and HVAC products.

The second fastest-growing regional market is South America and Central America. This growth can be attributed mainly to the automotive and medical segments. Brazil's market has great potential and offers many opportunities for investors. The country's 2018 medical equipment revenue was USD 10.5 billion. Public and private health expenditures accounted for 9.1% of the GDP.

Brazil was among the few countries that saw positive growth in automobile production of 2.3% in 2019. According to the National Association of Motor Vehicle Manufacturers (NAMVM), Brazil is likely to experience positive growth of 2.3% in automotive production in 2019. This is expected to positively impact the demand for film adhesive in the country.

North America and Europe will experience slow growth over the forecast period due to the Covid-19 pandemic, which has had a significant impact on the global economy in many countries, including the U.S., Spain and Italy. The countries are finding it difficult to resume operations, which will have a long-term impact on the growth of the film adhesive industry.

Market Share Insights & Key Companies

Due to the presence major manufacturers, the global market for film adhesive is characterized by fierce competition. To meet the increasing demand from end-use industries, manufacturers are expanding their capacity. Henkel, for example, opened a new adhesive facility in Montornes del Valles in June 2019. This plant is specifically designed to serve aerospace applications. This plant is designed to support the global demand of components and engines for aircraft engines. The film adhesive market is dominated by the following players:

• 3M

• Henkel

• Bostik

• Toray Industries

• Avery Dennison Corporation

• H.B. Fuller

Up Market Research published a new report titled “Film Adhesive Market research report which is segmented by Application (Electronics & Electrical, Medical, Automotive), By Players/Companies Henkel, Toray Industries, Avery Dennison Corporation, 3M, Bostik, HB Fuller”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Film Adhesive Market Report Segments:

The market is segmented by Application (Electronics & Electrical, Medical, Automotive).

Film Adhesive Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Film Adhesive Market

Overview of the regional outlook of the Film Adhesive Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Film Adhesive Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Film Adhesive Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Electronics & Electrical

                2. Medical

                3. Automotive

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Film Adhesive Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
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• Understanding Competition Scenario
• Product & Brand Management
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• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Film Adhesive Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.