Albany, NY -- (SBWIRE) -- 09/24/2018 -- According to a recent market study published by Transparency Market Research, the global adhesive films market is expected to expand at a CAGR of 6.0% from 2014 to 2020. If the figures hold true, the market will reach a valuation of US$14.45 bn by 2020 increasing from US$9.70 bn in 2013. The report is titled, "Adhesive Films - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020."
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Film adhesives include a range of phenolic, epoxy, and bismaleimide compounds that are supplied either in film or roll form. After undergoing the curative process, film adhesives form a permanent structural bond on the attaching surface and can withstand harsh environments, which include elevated temperatures as well.
According to the report, the rising demand for medical films and tapes to tend to wounds is pushing the growth of the adhesive films market. In addition, the increasing use of compact size and light weight electronic devices that require low-cost flexible packaging materials is fuelling demand for adhesive films and tapes. The other uses of adhesive films and tapes lie in the production of lightweight automobiles with improved efficiency.
However, the progression of the market is impeded due to certain reasons. Due to unstable prices of petroleum, product manufacturers are under pressure to reduce profit margins leading to the hampered growth of the said market. In addition, environmental regulations pertaining to VOC emissions from adhesive films is restraining the growth of this market. Nevertheless, with the development of bio-based adhesive films and their commercialization, the market will observe strong growth, adds the report.
By technology, hot-melt, light-cured, pressure sensitive, and others (includes chemical-cured, self-cured, and heat-cured) are the segments of this market. Amongst these, in 2013, the pressure sensitive segment dominated the market and held a share of more than 75% in the global market. However, as per the report, the light-cured segment will witness robust growth during the forecast period due to superior product characteristics such as zero to negligible VOC emissions and fast curing.
The product segments of the market are polyvinyl acetate, acrylic, polyvinyl butyral, polyurethane, epoxy, and others (includes polyether, silicone, EVA, SBC, and polyesters). In 2013, acrylic adhesive films led the market owing to their extensive applications across a host of industries such as medical, automotive, construction, electronics, footwear, and furniture.
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On the basis of application, labels, graphics, tapes, and others are the segments of this market. In the 2014-2020 period, labels will be the fastest growing segment of the market. In terms of end-user industries, medical and healthcare will display stupendous growth in the global adhesive films market. Asia Pacific will emerge as a significant market for adhesive films in the coming years; the region held a share of more than 40% in the global market in 2013.