As per an analysis by Fact.MR, the global film adhesives market is estimated exhibit positive growth, expanding at a CAGR of 4% during the forecast period 2021 to 2031. Owing to the increasing application across the end use industries such as aerospace, automotive, and electrical & electronics, the market for film adhesives is likely to reach a valuation of US$ 2 billion by the end of 2031.
The market registered a sluggish growth at a CAGR of 2% in 2020, which can be attributable to restrictions implemented to contain COVID-19. Restricted growth caused the market to close at around US$ 1 billion. However, with ongoing expansion in the aerospace industry, the demand for film adhesives is expected to spur.
According to a study by the Aerospace Industries Association, the U.S aerospace & defense industry has registered lucrative gains, accounting for sales of over US$ 909 billion in 2019. Thus, with increasing air travel, the demand for new aircraft is estimated to rise, in turn, creating sales opportunities for film adhesives.
Electrical & electronic industry is estimated to dominate the end use segment, accounting for over 40% of the market share through 2031. Owing to the increase in use of film adhesives for bonding internal and external components such as switches, circuitry, wires, among others, the industry has become a center point for the expansion of the market.
"To cater to increasing demand of adhesives from automotive, electrical & electronics and aerospace industries, leading players in the market are emphasizing on developing innovative film adhesives such as two-part epoxy adhesive to increase their market share," says the Fact.MR analyst.
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Key Takeaways from Film Adhesives Market Survey
- The U.S. film adhesives market is estimated to surpass a valuation of US$ 340 million by 2021, owing to flourishing aerospace industry in the country.
- China is likely to project growth at a CAGR of 7%, accounting for film adhesives sales over US$ 350 million during the forecast period.
- Australia, India, South Korea are expected to emerge as lucrative markets in the Asian landscape collectively surpassing a valuation of US$ 200 million by 2031.
- Based on resin, epoxy film adhesives sales are estimated to reach US$ 790 million, growing at a CARG of 4% by 2031.
- Electrical & electronic is anticipated to generate more than 1/3rd of global revenue share for the film adhesives market.
Key Drivers
- Increasing usage of film adhesives in the electrical & electronic industry is boosting the market growth.
- Rising application across the aerospace sector is fueling the demand for film adhesives.
- Ongoing technological advancement in the market is spurring the sales of film adhesives.
Key Restraints
- High cost of production is restraining the growth of the film adhesives market.
- Complicated production process for the film adhesives is impeding the market growth.
- Availability of substitutes is a factor hindering the demand for film adhesives.
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Competitive Landscape
The market for film adhesives is highly competitive due to the presence of multiple regional and global market players. Manufacturers are increasingly investing in research and development (R&D) for introducing novel products to strengthen their market footprint and increasing their market share. For instance,
- In February 2021, Axiom Materials Inc. announced introducing its new product named, CerFaceTM AX-8810, a surfacing film designed to enhance the outer finish of ultra-high temperature CMC components for aerospace and industrial applications.
- In June 2021, Henkel AG announced launching it new two-part epoxy adhesive named, Loctite EA 9365FST, which reinforces and bonds thermoset and thermoplastic substrates for use in aircraft interiors.
Some of the prominent players operating in the film adhesives market profiled by Fact.MR are:
- AI Technology Inc.
- Arkema Group
- Axiom Materials Inc.
- Bondline Electronic Adhesives Inc.
- Solvay S.A.
- Dai Nippon Printing Co. Ltd.
- Everad Adhesives
- Fastel Adhesives
- GLUETEX GmbH
- Gurit Holding AG
- H.B Fuller Company
- Henkel AG & Co. KGaA
- Hexcel Corporation
- HMT Manufacturing
- Lord Corporation
- 3M Company
- Master Bond Inc.
- Rogers Corporation
More Valuable Insights on Film Adhesives Market
Fact.MR, in its new report, offers an unbiased analysis of the global film adhesives market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in film adhesives market with detailed segmentation:
- End-use Industry
- Film Adhesives for Electricals & Electronics
- Film Adhesives for Aerospace
- Film Adhesives for Automotive & Transportation
- Consumer Film Adhesives
- Film Adhesives for Other End Use Industries
- Resin
- Epoxy Film Adhesives
- Cyanate Ester Film Adhesives
- Acrylic Film Adhesives
- Other Resin Film Adhesives
Key Questions Covered in the Film Adhesives Market Report
- The report offers insight into film adhesives demand outlook for 2021-2031
- The market survey also highlights projected sales growth for the film adhesives market between 2021 and 2031
- Film adhesives market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Film adhesives market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
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