The global adhesive films market is partly consolidated with the top four companies accounting for 55.2% of the total market in 2012. Key players in the market are: Henkel A.G & Company KGaA, 3M Company, Avery Dennison Corporation, The Dow Chemical Company, and H.B. Fuller Company. Large players have the advantage of integration across the value chain. Players are penetrating the market by developing products that are eco-friendly and comply with regulations, states a new report by Transparency Market Research (TMR).
The adhesive films market is not capital intensive and the technology, machinery, and labor required for small scale production are available easily, making it convenient for new players to enter the market. New bio-based product developments are also expected to create prospects for the entrance of new players. Overall the threat of new entrants is expected to be medium in the global adhesive films market. The threat of substitutes is also expected to be medium over the coming years owing to the availability of low-priced alternatives such as glue.
High Demand for Adhesive Films from Medical and Electronic Sectors Boosts Market
The increasing demand for medical tapes and films owing to a rise in the purchasing power of the general population is driving the global adhesive films market. The majority of medical practitioners prefer adhesive films and tapes owing to their ease of use. These films are easy to dispose of and can be recycled.
Another factor driving the growth of the adhesive films market is the rising demand for compact and lighter electronic devices. “The trend of miniaturization of electronic devices such as tablets, phones, and computers is driving the demand for adhesive films,” states a TMR analyst. This is because the use of adhesive films helps reduce the weight and size of electronic devices. Moreover, the easy application of adhesive films reduces production time of these devices, thereby lowering the cost for end users. Similarly, the demand for lightweight vehicles is boosting the demand for adhesive films.
Companies Need to Comply with Regulations Regarding VOC Emissions
Adhesive films are synthesized from petroleum derived feedstock such as acrylates, polyolefins, epoxy, and polyurethanes. These petrochemicals are highly dependent on the supply and price of crude oil. Thus, the cost of adhesive films fluctuates with the price of oil. Another factor hampering the growth of the market is the volatile organic compounds (VOC) emissions occurring due the use of these films in commercial or industrial applications. Many countries have set guidelines and regulations that restrict the amount of gaseous emissions occurring as a result of using adhesives, especially the solvent-based films. Violation of these regulations can result in heavy penalties.
Demand for Bio-based Adhesive Films to Grow Owing to Rising Environmental Concerns
Rising environmental concerns owing to an increase in carbon emissions, coupled with the fluctuating prices of raw materials, are compelling market players to develop bio-based adhesive films. The added advantage of bio-based adhesive films is the reduced overall cost of manufacturing and milder environmental impact as compared to their synthetic counterparts. As such, bio-based adhesive films are expected to open new opportunities of growth in the market.
According to the report, the global market opportunity in the adhesive films market is expected to rise from US$10.76 bn in 2015 to US$14.44 bn by 2020. On the basis of technology, the pressure sensitive segment is expected to hold significant shares in the market. By product, the acrylic segment is expected to lead and account for 33.9% of the adhesive films market by 2020. On the basis of application, the tapes segment, followed by the labels segment is expected to lead in the global market in the coming years. Asia Pacific is anticipated to lead and account for 43.0% of the global adhesive films market by 2020.
This information is based on the findings of a report published by Transparency Market Research titled “Adhesive Films Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020.”
The global adhesive films market is segmented as follows:
- Pressure sensitive
- Others (Including heat-cure, chemical-cured and self-cured)
- Polyvinyl acetate (PVAc)
- Polyvinyl butyral (PVB)
- Others (Including EVA, silicone, polyesters, and SBC)
- Others (Including specialty films, protective films, glazing, and tinting)
- Others (Including construction, footwear, furniture, and aerospace)
- North America
- Asia Pacific
- Rest of the World
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