Bonding Film Market: Overview
A bonding film is defined as a high-strength and fast-bonding adhesive film for both metal and plastic bonds. It is a substance that is able to hold materials together by attaching their surfaces. Characteristics of bonding films include flexibility, bond narrow widths, minimization of oozing, and controlled and consistent thickness. Bonding films are widely used in various industries, owing to their broad range of applications such as high strength, fast bonding, high-temperature protection, etc.
Bonding Film Market: Key Segments
The bonding film market can be segmented based on type, technology, end-use industry, and region. In terms of type, the bonding film market can be classified into epoxy, acrylic, polyurethane, and others. The others segment includes polyvinyl acetate (PVA), polyvinyl butyral (PVB), ethylene-vinyl acetate (EVA), and phenolic. The epoxy segment holds a significant market share, owing to characteristics of epoxy bonding films such as high bonding strength and the capability to bond with different types of substrates. Epoxy is a highly significant type of bonding film due to its capability of being cured at different temperatures and control over bond line thickness.
Based on technology, the bonding film market can be divided into thermally cured, pressure cured, and others. The others segment comprises chemically cured and light cured technologies. The thermally cured segment is estimated to lead the bonding film market during the forecast period due to the attributes of thermally cured bonding films such as fast bonding within 2-5 seconds, minimal oozing, and ability to be used at high temperatures.
In terms of end-use industry, the bonding film market can be categorized into electrical & electronics, transportation, packaging, and others. The others segment includes medical and textiles industries. The electrical & electronics segment is anticipated to constitute a prominent market share in the near future. This is due to the extensive use of bonding films in aerospace, automotive, defense, consumer, and industrial electronics applications.
Bonding Film Market: Market Trends & Developments
A major factor likely to drive the bonding film market is the rise in demand for bonding films from various end-use industries. Additionally, the increased use of bonding films over conventional bonding methods due to their highly effective bonding is projected to fuel the market. Moreover, an increased use of bonding films in the semiconductor manufacturing industry is further expected to drive the bonding film market. However, high storage and transportation cost and more time requirement for processing techniques are expected to restrain the bonding film market during the forecast period. Nevertheless, an increased demand for bonding films from the smart clothing and wearable industry create new opportunities for the bonding film market.
Bonding Film Market: Regional Outlook
Based on region, the global bonding film market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is estimated to be a prominent region of the global bonding films market. The bonding film market in the region is likely to expand at a rapid pace due to an increase in demand for bonding films from various end-use industries such as electrical & electronics and transportation in emerging economies such as China, India, Japan, South Korea, etc.. Additionally, the easy availability of raw materials and presence of key manufacturers such as Hitachi Chemical Co., Ltd. Are estimated to fuel the market in the region. Europe and North America also account for a significant market share. However, the bonding film market in the regions is expected to expand at a sluggish pace due to stringent government regulations against the use of harmful adhesives.
Bonding Film Market: Key Players
Key players in the global bonding film market include Henkel AG & Co. KGaA, 3M, Cytec Solvay Group, Hitachi Chemical Co., Ltd., Arkema S.A., H.B. Fuller, Hexcel, Corporation, Dupont, Gurit, Koninklijke Ten Cate Bv, and Master Bond Inc.
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