FilmAdhesives: Introduction
· Film adhesives are solvent adhesives formed with a thin flexiblebonding layer. Film adhesives are thermally and chemically active under highpressure. These films are also able to provide high-performance bonding witheasily removable backing. Therefore, these films are used as alternatives topaste and liquid adhesives in various end-use industries. Film adhesivesimprove the performance of automotive. This, in turn, is boosting the adoptionof film adhesives.
Key Drivers and Restraints of Global Film Adhesives Market
· Increase in demand for film adhesives in various end-useindustries such as aerospace, consumer electronics, automotive &transportation, and electrical & electronics is driving the market. Thisrise in demand can be ascribed to excellent properties of these adhesives suchas high strength and high-temperature resistance, which are essential in theautomotive industry. Additionally, film adhesives can be applied directly.Thus, ease of using film adhesives is fuelling the film adhesives market.
· Demand for epoxy film adhesives is high in automotive andtransportation industries owing to its high performance and high strength.Epoxy film adhesives are able to perform under high pressure and fatigueresistance. This is further driving the global film adhesives market.
· High production cost and complicated production process arerestraining the global film adhesives market. Nonetheless, rise in applicationof film adhesives in consumer electronics is offering lucrative opportunitiesfor the market.
Film Adhesives: Material Type Segment
· In terms of material type, the global film adhesives market canbe segmented into Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride(PVC), and others
· The Polypropylene (PP) segment accounted for significant shareof the global film adhesives market in 2020. Its dominance is projected tocontinue during the forecast period.
Film Adhesives: Application Segment
· In terms of application, the global film adhesives market can bedivided into electrical & electronics, packaging, automotive, medical, andothers
· The electrical & electronics segment held major share of theglobal film adhesives market in 2020. It is projected to expand at a fast-pacedCAGR during the forecast period.
COVID-19 Impact on Film Adhesives Market
· On January 30, 2020, the International Health RegulationsEmergency Committee of the World Health Organization (WHO) declaredthe Coronavirus disease (COVID-19) outbreak a public health emergencyof international concern. Originating in China, the virus has spread to atleast 213 countries and territories around the world.
· Several governments and private sector businesses are operatingat a limited capacity or have ceased operations completely due to recent eventssurrounding the COVID-19 pandemic
· Film adhesives are used in various end-use industries includingautomotive, packaging, construction, and electrical & electronics. TheCOVID-19 pandemic has negatively impacted supplies of raw materials foradhesives and sealants. Materials used in the manufacture of film adhesives arebeing directed toward other applications that fall under the essentialcategory. For example, alcohols are sent for hand sanitizers, while photoinitiators are directed toward UV applications. Demand for film adhesives wasstable in some applications such as pharmaceutical packaging in 2020. Recoveryof the global economy and manufacturing sectors in various parts of the worldis expected to drive the market in the near future.
Asia Pacific to Dominate Film Adhesives Market
· In terms of region, the global film adhesives market can besegregated into North America, Europe, Asia Pacific, Latin America, and MiddleEast & Africa
· The market in Asia Pacific is expected to expand at a fasterpace during the forecast period. Demand for film adhesives is high in theaerospace sector, as these adhesives are easy to handle and help in themanufacture of large parts of vehicles. Furthermore, the aerospace industry andmanufacturers of high-end cars are shifting to developing countries in theregion. These factors are propelling the film adhesives market in Asia Pacific.
Key Manufacturers Operating in Global Film Adhesives Market
The globalfilm adhesives market was consolidated in 2020. Major players have prominentpresence in developed and developing countries. Key manufacturers operating inthe global film adhesives market include:
· 3M Company
· Avery Dennison Corporation
· UPM-Kymmene OYJ
· H.B. Fuller
· Toray Industries
· Henkel
· Arkema
· Cytec Solvay Group
