Adhesive Film Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022 - 2027

Report Code: CMR 23186 Report Format: PDF + Excel

Adhesive Film Market Overview

The adhesive film market size is forecast to reach US$22.3 billion by 2027 after growing at a CAGR of 5.5% during 2022-2027. Adhesive films such as tapes and protective films are extensively used in the automotive industry for attaching and protecting various auto components. The automotive industry globally is booming with the increase in production and sales of vehicles and this will drive the market’s growth in the forecast period. For instance, as per the August 2020 data by the China Association of Automobile Manufacturers, the Chinese passenger vehicle segment is expected to reach 30 million units by 2029 which was 21.44 million units in 2019. Furthermore, adhesive films find their high usage in consumer electronics for superior bonding performance. The demand for consumer electronics globally is increasing and this will drive the growth of the market in the forecast period. For instance, as per the July 2021 statistics by China.org.cn, consumer electronics exports witnessed a growth trajectory for 12 months in a row. In technology, hot melt adhesives projected will witness the highest demand in the forecast period and will be followed by pressure sensitive adhesives. Protective films application will drive the growth of the market followed by graphic films and tapes. The price fluctuation of raw materials such as polypropylene, polyethylene, and polyvinyl chloride might hamper the growth of the market in the forecast period.

COVID-19 Impact 

The adhesive film market was badly impacted during the COVID-19 pandemic. Supply chain disruption and the temporary shutdown of factories are the challenges that surfaced in the market. Accordingly, market players changed their work pattern to withstand the impact of COVID-19 but it was not sufficient. Many players in the market faced difficulty in maintaining a standard business amid the pandemic. For instance, as per the COVID-19 global update report by Avery Dennison, the company came up with contingency plans for multiple sites which got impacted during the pandemic. Moreover, the reduced production of automobiles and fewer construction activities globally affected the growth of the adhesive film market. Going forward, the market is projected to witness robust growth in the forecast period owing to expanding automotive and consumer electronics sector. 

Report Coverage 

The report: Adhesive Film Market Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Adhesive Film Industry.

By Film Material: Polypropylene, Polyethylene, Polyvinyl Chloride, Polyester, Polyethylene Terephthalate, Others.
By Technology: Water Based Adhesives, Solvent Based Adhesives, Hot Melt Adhesives, Pressure Sensitive Adhesives, Others.
By Application: Protective Films, Graphic Films, Tapes, Labels, Lamination, Others.
By End Use Industry: Automotive, Packaging, Industrial, Aerospace, Defence, Consumer Electronics, Construction, Others.
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa).

Key Takeaways: 

  • Polypropylene film material is leading the adhesive film market. Polypropylene makes adhesive films cost-effective and versatile which allows its higher uses in the market. 
  • The automotive sector will drive the growth of the market in the forecast period. For instance, according to the statistics by the European Automobile Manufacturers Association, in July 2021, the passenger cars registrations jumped by +10.4% compared to the registrations in June 2020. 
  • The Asia-Pacific region will witness the maximum demand for the adhesive film market in the forecast period owing to the region’s booming automotive sector. As per the data by India Brand Equity Foundation, the passenger vehicle segment registered a growth of 28.39% as sales clocked 279,745 units in March 2021 compared to 2,17,879 units in March 2020.

    Figure: Asia Pacific Adhesive Film Market Revenue, 2021-2027 (US$ Billion)

Asia Pacific Adhesive Film Market Revenue

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Adhesive Film Market - By Film Material

Polypropylene dominated the adhesive film market in 2021. This material helps adhesive films to be cost-effective, durable, and versatile. Moreover, polypropylene material is easy to shape and offers high resistance to several acids and solvent solutions. Owing to such superior qualities, market players are focusing on the higher implementation of polypropylene material in various adhesive films. For instance, in April 2020, UPM Raflatac, a Finland-based global supplier of label materials, launched an innovative polypropylene (PP) label film developed from post-consumer recycled (PCR) plastic. Such developments of adhesive films with the involvement of polypropylene will increase its demand in the forecast period. Polyethylene is anticipated to witness significant demand in the adhesive film market during the forecast period.

Adhesive Film Market - By Technology

 Hot melt technology dominated the adhesive film market in 2021. This technology is used to produce hot melt adhesives which are implemented in a wide range of product assemblies such as large surface lamination, small joint assembly, mounting, and trip attachment. Product assembly in multiple industries such as automotive, construction, consumer goods, and packaging uses hot melt adhesives. Such an extended portfolio of hot melt adhesive encourages market players to make higher usage of this technology. For instance, in August 2021, US-based Avery Dennison, which deals with adhesive materials, announced a new hot melt adhesive to support sustainable film solutions in the packaging industry. Owing to the development of this new hot melt adhesive, the company received biopreferred certification from the USDA. Such increasing development in the hot melt adhesives will increase the demand for hot melt technology in the forecast period. Pressure sensitive adhesives technology will witness significant demand in the adhesive film market during the forecast period.

Adhesive Film Market - By Application

The protective films segment dominated the adhesive film market in 2021 and is growing at a CAGR of 5.8% in the forecast period. Protective films offer protection to multiple product surfaces from scratch and abrasion. Automobile surfaces, television screens, computer monitors, LCD screens on cell phones, and many more product surfaces get robust protection from protective films. Accordingly, market players are involved in the development of more protective films to meet the end-use requirements. For instance, in May 2021, Germany-based adhesive film manufacturer Orafol introduced its new protection film named ORAGUARD 2815GF, designed for protecting car surfaces. Such innovations expand the protective films portfolio, and in turn, this will contribute to the growth of the adhesive film market in the forecast period. Tapes and graphic films applications will drive the growth of the market significantly in the forecast period. 

Adhesive Film Market - By End Use Industry

The automotive industry dominated the adhesive film market in 2021. Adhesive films are widely used for simplifying the joining process and protecting various automotive parts such as bumpers, exterior, and interior trims, bonnets, and dashboards. The automotive industry globally is booming with increasing sales and this will augment the higher uses of adhesive film in the forecast period. For instance, as per the statistics by the China Association of Automobile Manufacturers, the annual sales volume of Chinese new energy vehicles is anticipated to reach 3 million units by 2025 compared to 1.2 million units in 2019. Similarly, according to the June 2021 report by European Automobile Manufacturers Association, in May 2021, the European Union passenger car registrations jumped by 53.4% compared to May 2020. Such massive growth in the global automotive sector will stimulate the demand for adhesive films for various automotive parts, and in turn, this will drive the growth of the market in the forecast period. Consumer electronics will witness significant demand for adhesive films in the forecast period owing to the expansion of consumer electronic products globally.

Adhesive Film Market - By Geography

The Asia-Pacific region held the largest market share in the adhesive film market in 2021 with a market share of up to 34%. The high demand for adhesive films is attributed to the growing automobile sector in the region. For instance, according to the data by the China Association of Automobile Manufacturers, production of Chinese commercial vehicles reached 310000 units in September 2021, increasing 35.5% month on month. Similarly, as per the data by India Brand Equity Foundation, India’s electric vehicle market segment is expected to be a US$ 7.09 billion market by 2025 with two-wheelers and three-wheelers projected to witness highest the demand. Such massive expansion in the automotive sector will increase the higher uses of adhesive films in the forecast period. The European region is projected to witness significant for adhesive films owing to the increase in consumer electronics demand in the region. 

Adhesive Film Market Drivers

The increasing consumer electronics sector will drive the market’s growth 

Adhesive films are extensively used in the consumer electronics sector where they provide excellent bonding performance and superior impact resistance to various products. The global demand for consumer electronics is on the rise, augmenting the requirement for adhesive films in numerous consumer electronic products and this will drive the growth of the market. For instance, as per the September 2021 data by China.org.cn, China’s Zhejiang witnessed a jump in online retail sales in which consumer electronics ranked in the top categories. Similarly, according to the September 2021 statistics by UK’s Office for National Statistics, the import value of consumer electronics in the European Union was 109.2 in the first quarter of 2021 compared to 108.4 in the first quarter in the previous year. Such high demand for consumer electronics globally will increase the use of adhesive films in several consumer electronics goods, and this will drive the growth of the adhesive films market in the forecast period.

Booming automobile sector will drive the market’s growth 

Adhesive films such as tapes and protective films are broadly used in the automotive industry for simplifying the joining process and offering protection to several vehicle parts such as door panels, roofs, seats, dashboard, and exterior bodywork parts. The automotive industry is booming globally and this will drive the growth of the adhesive film market. For instance, according to the European Automobile Manufacturers Association data, hybrid electric vehicles accounted for 11.9% of total cars sold in 2020 which was 5.7% in 2019. Similarly, as per India Brand Equity Foundation data, in 2020, India became the fifth-largest automobile industry with 3.49 million units of automotive sold combinedly in the commercial and passenger vehicles segment. Such high demand for automobiles globally will amplify the implementation of adhesive films which will contribute to the growth of the market in the forecast period.

Adhesive Film Market Challenges

Fluctuation in raw material prices might hamper the market’s growth 

The adhesive film market includes raw materials such as polyethylene, polypropylene, and polyvinyl chloride. These are petroleum-based raw materials whose prices are fluctuating due to the volatility in petroleum prices and this might affect the growth of the adhesive film market in the forecast period. Petroleum prices plunged historically during the pandemic. As per the data by ourworldindata.org, the crude oil price in 2017 accounted for US$ 54.19 per barrel which surged to US$ 64.21 per barrel in 2019. In 2020, the oil price again dropped to US$ 41.84 per barrel. Such fluctuations in oil prices created volatility in the petroleum prices, ultimately fluctuating the raw material prices. These fluctuations in the raw material prices might affect the growth of the adhesive film market in the forecast period. 

Adhesive Film Market Industry Outlook

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in this market. Adhesive Film top 10 companies include: 

  1. 3M Company
  2. Avery Dennison
  3. UPM Raflatac
  4. Scapa Group
  5. SWM International
  6. Orafol
  7. Henkel
  8. DuPont
  9. Toray Industries
  10. BASF
  11. Dow Chemicals and Others 

Recent Developments 

In March 2021, Avery Dennison launched an innovative protective film named Avery Dennison Supreme Defence Gloss. 

Relevant Reports 

Seal Adhesive Tape Market - Forecast(2021 - 2026)
Report Code: CMR 48939 

Adhesive Tapes Market Analysis - Forecast(2021 - 2026)
Report Code: CMR 0240

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1. Adhesive Film Market- Market Overview
    1.1 Definitions and Scope
2. Adhesive Film Market- Executive Summary
    2.1 Key Trends by Film Material
    2.2 Key Trends by Technology
    2.3 Key Trends by Application
    2.4 Key Trends by End Use Industry
    2.5 Key Trends by Geography
3. Adhesive Film Market- Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Adhesive Film Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Adhesive Film Market– Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis - Major companies
6. Adhesive Film Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of substitutes
7. Adhesive Film Market-Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product/Market life cycle
    7.4 Distributors Analysis - Major Companies
8. Adhesive Film Market– By Film Material (Market Size -US$ Million, Billion)
    8.1 Polypropylene 
    8.2 Polyethylene 
    8.3 Polyvinyl Chloride 
    8.4 Polyester 
    8.5 Polyethylene Terephthalate
    8.6 Others
9. Adhesive Film Market– By Technology (Market Size -US$ Million, Billion)
    9.1 Water Based Adhesives
    9.2 Solvent Based Adhesives
    9.3 Hot Melt Adhesives
    9.4 Pressure Sensitive Adhesives
    9.5 Others
10. Adhesive Film Market– By Application (Market Size -US$ Million, Billion)
    10.1 Protective Films 
    10.2 Graphic Films
    10.3 Tapes
    10.4 Labels
    10.5 Lamination
    10.6 Others
11. Adhesive Film Market– By End Use Industry (Market Size -US$ Million, Billion)
    11.1 Automotive
    11.2 Packaging
    11.3 Industrial 
    11.4 Aerospace
    11.5 Defence
    11.6 Consumer Electronics
    11.7 Construction
    11.8 Others
12. Adhesive Film Market - By Geography (Market Size -US$ Million / Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zealand
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of Asia Pacific
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 ROW
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Adhesive Film Market-Entropy
    13.1 New Product Launches
    13.2 M&A’s, Collaborations, JVs and Partnerships
14. Adhesive Film Market-Industry/Segment Competition Landscape Premium
    14.1 Company Benchmarking Matrix- Major Companies
    14.2 Market Share at Global Level- Major companies
    14.3 Market Share by Key Region- Major companies
    14.4 Market Share by Key Country- Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category- Major companies
15. Adhesive Film Market- Key Company List by Country Premium Premium 
16. Adhesive Film Market Company Analysis- Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

List of Tables

1 US Adhesive Film Market Size 2018
2 Canada Adhesive Film Market Share 2018
3 Brazil Adhesive Film Market Outlook 2019 - 2023
4 Mexico Adhesive Film Market Research 2018
5 Germany Adhesive Film Market Trends 2019 - 2023 
6 France Adhesive Film Market Growth 2019 - 2023 
7 UK Adhesive Film Market Demand 2019 - 2023 
8 Italy Adhesive Film Market Segmentation 2018
9 Russia Adhesive Film Market Analysis 2019 - 2023
10 China Adhesive Film Market Revenue 2019 - 2023
11 Japan Adhesive Film Market Volume 2019 - 2023
12 South Korea Adhesive Film Market Potential 2019 - 2023
13 India Adhesive Film Market Leaders 2018
14 Saudi Arabia Adhesive Film Market Forecast 2019 - 2023 
15 Kuwait Adhesive Film Market Value 2018

List of Figures

For complete list of 60+ tables and 60+ figures follow the Link