Norms to lower carbon emissions by reducing vehicle weight and demand for fuel-effective automobiles drive the growth of the adhesive film market.
PORTLAND, OR, UNITED STATES, March 12, 2022 /EINPresswire.com/ — Rise in focus on lightweight products and infrastructure development in the Asia-Pacific region fuels the growth of the global adhesive film market. On the other hand, unavailability of raw materials and volatile costs of the end product hinder the growth to some extent. Nevertheless, increase in demand for adhesives from Southeast Asia and Africa is expected to create multiple opportunities in the industry.
According to the report, the global adhesive film industry was estimated at $17.3 billion in 2018, and is expected to hit $26.7 billion by 2026, registering a CAGR of 5.5% from 2019 to 2026.
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The automotive and transportation segment to maintain lead the trail by 2026-
Based on end-user industry, the automotive and transportation segment contributed to nearly one-fourth of the global adhesive film market revenue in 2018, and is expected to rule the roost by 2026. The electrical and electronics segment, on the other hand, would cite the fastest CAGR of 6.2% during 2019–2026. This is attributed to the growing demand for electrically conductive adhesives and films in electrical and hardware components for transmitting current through layers of a gadget, shaping electrical interconnections, and holding electrical parts.
The water-based segment to maintain the lion’s share-
Based on technology, the water-based segment held the largest share in 2018, generating around two-fifths of the global adhesive film market. Growing investments in water-based adhesives is expected to boost the segment growth. At the same time, the pressure-sensitive segment would grow at the fastest CAGR of 6.4% throughout the forecast period. Rise in demand for pressure-sensitive adhesives in automotive, metal, and other industrial sectors fuels the growth of the segment.
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Asia-Pacific, followed by Europe and North America, to remain lucrative in terms of revenue-
Based on geography, Asia-Pacific, followed by Europe and North America, accounted for nearly two-fifths of the global adhesive film market share in 2018, and is anticipated to retain its dominance during the study period. The same region would also portray the fastest CAGR of 6.3% by the end of 2026. This is due to gradual shift of manufacturing industries from the Americas to the region.
Key players in the industry-
The Dow Chemical Company
Henkel AG & Co. KGaA
Akzo Nobel N.V.
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