The global adhesive films market size was valued at USD 18.6 Billion in 2022 and is likely to reach USD 25 Billion by 2031, expanding at a CAGR of 4% during the forecast period, 2023–2031. Growing applications of adhesive films in the making of creative, informative, and effective packaging solutions are anticipated to boost the market.
Rising utilization of adhesive films for advertising and packaging purposes is likely to fuel the market. Several industries including personal care & pharmaceuticals, retail food & beverages, automotive, and cosmetics are using these labels for printing product information, ingredients, warnings, price tags, instructions, and other descriptions. These labels provide protective insulation packaging, which helps retain the printed information for a longer duration of time. These factors are projected to boost the demand for adhesive films from various industries, thereby, propelling the market. For instance,
- On 4 April 2023, Resonac Holdings Corporation announced further increasing its adhesive films production capacity by over 60%. The aim of the increasing production was to meet the rising demand for the company’s ‘Dicing Die Bonding Film’ in semiconductor packaging application at the Goi Plant in Japan. The company announced that operations in these expanded facilities are to be commenced in 2026.
Rising urban population with high demand for packaged products such as beverages, medicines, cosmetics, and instant foods is driving the demand for packaging materials including adhesive films. Standard safety regulations make it mandatory for such product manufacturers to provide necessary information about the product's ingredients, price, and expiry dates. This increases the demand for adhesive films and further boosts the market.
Additionally, the growing adoption of adhesive films in the automotive sector for protective covering for vehicle surfaces and customized designs is further anticipated to propel the market.
The report finds that the COVID-19 pandemic affected the overall revenue of the global adhesive films market due to the sharp decline in manufacturing consumer products worldwide. governments imposed lockdowns and other preventive measures to curb the virus spread. The prolonged shutdown of factories across industries impeded the overall demand for packaging.
Countries including Spain, Brazil, the US, and India had an economic slowdown that disrupted the market to a certain extent. Moreover, the sudden disruption in the supply chain, especially the lack of timely supply of raw materials required packaging material manufacturers to either delay their production or reschedule their existing projects, which affected the market.
Adhesive Films Market Dynamics
Major Drivers
The rising demand for plastic and composite in the automobile industry is projected as the major factor to boost the market. E-commerce, pharmaceuticals, and other major end-users utilize adhesive tapes for manufacturing and effective packaging, which is expected to fuel the market.
Increasing demand for medical films and tapes, as it is used for wound care is expected to drive the market. Medical adhesive tapes are excellent for bandaging, ventilation tubes, holding catheters, intravenous lines, and other medical purposes
Existing Restraints
The cost of end products is affected by the fluctuation in the availability and prices of raw materials. The implementation of stringent regulations is anticipated to hamper the market in the forecast period. Crude oil is the major raw material that is used in the production of several polymers. Most of the raw materials are petroleum-based products such as melamine resins, phenolic resins, and vinyl films which are susceptible to fluctuations in product prices
Emerging Opportunities
The implementation of advanced technology to produce high barrier packaging films formulated with multilayer and polymer blend technology is projected to bring lucrative opportunities in the adhesive films market. Production of bioplastic materials is estimated to aid in boosting environmental concerns, which propels the market.
Scope of Adhesive Films Market Report
The report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Adhesive Films Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Resin Type (Epoxy, Acrylic, Cyanoacrylate, and Silicone), Technology (Water-based, Solvent-based, Pressure-sensitive, Light-cured, Hot Melt, and Others), Material (Bi-axially Oriented Polypropylene, Polyethylene, Polyamide, Polyvinyl Chloride, and Others), Application (Tapes, Labels, Envelopes, Graphic Films, and Others), and End-user (Electronics, Pharmaceutical, Building & Construction, Aerospace, Transportation, Automotive, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Adhesive Films Market Size and Analysis, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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3M; Grafix Plastics; Avery Dennison Corporation; H.B. Fuller Company; Henkel AG & Co. KGaA; L&L Products; tesa SE; Nitto Denko Corporation; TEKRA, LLC; Toray Advanced Composites; and Bostik
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Adhesive Films Market Segment Insights
Resin Type Segment Analysis
Based on resin type, the adhesive films market is divided into epoxy, acrylic, cyanoacrylate, and silicone. The epoxy segment is expected to expand at a significant pace during the projection period due to its strength and water & chemical resistance. These properties make it hold a strong bonding film under any physical pressure. Epoxy films are applied as solids and generally have no pot-life restrictions and they are eco-friendly.
Technology Segment Analysis
In terms of technology, the market is classified into water-based, solvent-based, pressure-sensitive, light-cured, hot melt, and others. The pressure-sensitive segment is anticipated to grow rapidly during the assessment period. The segment growth is attributed to the ability to pack products without heat during application. They are considered to be safer alternatives to traditional tapes.
The holt-melt segment is anticipated to account for a major market share in the coming years, as it is widely used in the packaging industry. Hot-melt adhesives are used to bond a range of substrates from metal, cardboard, leather, glass, and wood.
- For instance, On August 10, 2021, Avery Dennison announced a new holt-melt adhesive to promote sustainable film solutions in the packaging industry. The company has achieved Biopreferred certification from the USDA for the holt-melt adhesive.
Material Segment Analysis
On the basis of material, the global market is segregated into bi-axially oriented polypropylene, polyethylene, polyamide, polyvinyl chloride, and others. The polypropylene segment is projected to register a considerable CAGR during the forecast period, as it is cost-effective, versatile, and durable. Major key players are focusing on the high application of polypropylene material in numerous adhesive films, due to its large qualities.
- For instance, on April 13, 2023, UPM Raflatac introduced a new paper label solution that enhance the recycling of polyethylene terephthalate (PET) and high-density polyethylene (HDPE). This label solution has received European certifications of recyclability from Institut cyclos-HTP for HDPE and PET packaging and they are part of the UPM Raflatac portfolio.
The bi-axially oriented polypropylene segment is anticipated to hold a key share of the market in the coming years, due to its properties such as barrier functions to water vapor and oxygen, which are beneficial for the end-use industries.
Application Segment Analysis
On the basis of application, the market is segmented into tapes, labels, envelopes, graphic films, and others. The tape segment is expected to register a robust growth rate during the assessment period due to the increased use of tapes in various industries such as packaging and consumer products. Tapes are a better alternative to pastes and liquid adhesives; thus, they are preferred in numerous industries, which fuels the segment.
End-user Segment Analysis
Based on end-user, the market is categorized as electronics, pharmaceutical, building & construction, aerospace, transportation, automotive, and others. The aerospace segment is anticipated to expand at a significant growth rate in the forecast period, due to the increasing demand for flexible packaging in aircraft.
Increasing the use of adhesives film for bonding composite materials that are used in aircraft interiors such as composites based upon polyester composites, fiberglass reinforced plastic (FRP), and metal matrix composites among others.
The pharmaceutical segment is projected to expand at health CAGR during the projection period, This sector is a major user of adhesive films and labels. The films are used for packaging medicinal products to preserve and prevent reactions to the physical environment, which in turn, fuels the segment.
Furthermore, the rising use of adhesive films in manufacturing medical tapes and bandages for effective wound management is boosting the segment in the market. For instance,
- On January 11, 2023, H.B. Fuller launched Swift melt 1515-I, the first Bio-compatible adhesives for medical applications. This product is for microporous medical tape that is used skin-to-skin under unique climatic conditions.
The automotive segment is expected to register a robust growth rate during the forecast period. Adhesive films are used to bond nonwovens, composites, and plastics in automotive applications, owing to their durability and improved adhesion.
Regional Analysis
In terms of region, the global adhesive films market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period due to high economic growth and increasing investments in various manufacturing industries.
Presence of automobiles, electronics, and construction manufacturers in North America is anticipated to boost the market in the region. The US holds a key share of the market in the region due to the high demand for quality adhesive films.
Segments
The adhesive films market has been segmented on the basis of
Resin Type
- Epoxy
- Acrylic
- Cyanoacrylate
- Silicone
Technology
- Water-based
- Solvent-based
- Pressure-sensitive
- Light-cured
- Hot Melt
- Others
Material
- Bi-axially Oriented Polypropylene
- Polyethylene
- Polyamide
- Polyvinyl Chloride
- Others
Application
- Tapes
- Labels
- Envelopes
- Graphic Films
- Others
End-user
- Electronics
- Pharmaceutical
- Building & Construction
- Aerospace
- Transportation
- Automotive
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- 3M
- Grafix Plastics
- Avery Dennison Corporation
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- L&L Products
- tesa SE
- Nitto Denko Corporation
- TEKRA, LLC
- Toray Advanced Composites
- Bostik
Competitive Landscape
Key players competing in the global adhesive films market are 3M; Grafix Plastics; Avery Dennison Corporation; H.B. Fuller Company; Henkel AG & Co. KGaA; L&L Products; tesa SE; Nitto Denko Corporation; TEKRA, LLC; Toray Advanced Composites; and Bostik.
These players are adopting strategies such as acquisitions, partnerships, collaboration, mergers, R&D investments and product launches to increase their market share. For instance,
- On January 17, 2023, BASF announced an investment in the expansion of polymer dispersions at its production site in Merak, Indonesia. This expansion is in line with the rising trend of high-quality packaging in ASEAN, where paper and board manufacturers are located. This is likely to bring additional supply to fulfill the demand for styrene-butadiene and acrylic dispersions in Australia, Southeast Asia, and New Zealand markets.
- On January 11, 2023, H.B. Fuller launched Swift melt 1515-I, the first Bio-compatible adhesives for medical applications. This product is for microporous medical tape that is used skin-to-skin under unique climatic conditions.
- In July 2022, Nitto Denko Corporation completed acquithe sition of the personal care component (four companies) from Mondi, a UK-based company. With this acquisition, these companies have begun operating under a new organization named Advanced Film Solution Division.
- In January 2021, Avery Dennison Corporation, a packaging and container solutions provider, acquired the majority of assets of AcpoLtd. It is a US-based company that manufactures pressure-sensitive adhesive (PSA) roll label films for flexible packaging industries, label printing, and industrial tapes.
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