The Adhesive films market is projected to grow from USD 82.0 Billion in 2022 to USD 116.9 Billion by 2030, at a CAGR of 4.4% and CAGR of 4.7% between 2022-2027 and 2028-2030 respectively. The report offers key projections on critical factors such as adhesive films market size, production, revenue, consumption, CAGR, gross margin, and pricing.
Asia Pacific is estimated to be the largest consumer of Adhesive films. The global Adhesive films major players have made several research developments across value chain to focus on changing customer preferences.
The key players operating in the market are 3M Company (US), Avery Dennison Corporation (US), Henkel AG & Co. KGAA (Germany), UPM-Kymmene Oyj (Finland), and H.B. Fuller Company (US).
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Henkel AG & Co. KGAA operates worldwide by offering leading innovations, brands, and technologies in three business areas, namely, adhesive technologies, beauty care, and laundry & home care. The adhesive technologies business segment manufactures and distributes decoration and renovation products for packaged & consumer goods, home & office, building adhesives, and industrial infrastructure. Under the dynamic economic conditions due to COVID-19 and others, the organic sales performance of the segment improved significantly compared to the previous year.
UPM-Kymmene Oyj (UPM) specializes in the manufacture of fiber, biomass-based products, and recyclable raw materials and products.
UPM Raflatac, one of the company’s business segments, is involved in creating new label products that reduce the use of non-renewable materials and treats waste as a valuable resource. UPM Raflatac develops and manufactures high-quality, high-performance self-adhesive label materials for product and information labeling. The film and paper label stocks manufactured by the company are designed to build brands, provide a competitive advantage, and streamline operations.
Construction is the fastest-growing segment of the overall Adhesive films market.
Adhesive films in the construction segment are designed for both, outdoor and indoor use such as construction equipment, windows, doors, signs, and elevator panels. Water-based and hot-melt technologies are mainly used in flooring and roofing applications. Double- and single-sided tapes are used in joining rough surfaces and maintaining excellent adhesion between joints.
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Adhesive tapes have significant applications in the construction industry due to their excellent electrical and thermal insulation properties. The use of tapes in the construction industry has increased at a high rate over the last few years. Labels and graphic films also play a prime role in this end-use industry by adding aesthetic value to structures and applications such as elevators, escalators, walls, windows, facades, doors, and furniture.
India is the fastest growing segment in Adhesive films market during the forecast period.
The major industries in India include information technology, petroleum products, chemicals, pharmaceuticals, agriculture, textiles, steel, transportation equipment, machinery, leather, cement, mining, and construction. The Indian healthcare sector is growing rapidly because of strengthening services, coverage, and increasing expenditure by consumers as well as private players. The country has become one of the most favorable destinations for high-end diagnostic services with high capital investments for advanced diagnostic facilities. The manufacture of disposable products in the country is expected to grow significantly in the next few years, which is expected to boost the demand for adhesive films in the country. As only a few large companies dominate the Indian market, pricing and formulation of products are key growth strategies adopted by the companies in the country. Established companies are spending higher on branding and attracting customers by increasing awareness about adhesive films.
