The thermoplastic adhesive films market size was valued at US$ 1,757.01 million in 2022 and is expected to reach US$ 2,599.37 million by 2030; it is estimated to register a CAGR of 5.0% from 2022 to 2030.
MARKET ANALYSIS
Thermoplastic adhesive films serve multiple purposes, including bonding elastic fabrics in textiles, protective barriers in medical and automotive components, and bonding incompatible materials in electronics. The production of thermoplastic adhesive film generally involves product formulation, extrusion, coating, cutting and winding, and storage. Major market players manufacture thermoplastic adhesive films through extrusion technology, particularly blown and flat film extrusion. The utilization of thermoplastic adhesive film is majorly driven by several end-use industries, including automotive, ballistic protection, textile, advanced composites, electrical & electronics, and medical.
GROWTH DRIVERS AND CHALLENGES
Growing automotive and textile industries and rising demand for consumer electronics are the factors driving the thermoplastic adhesive films market. The consumer electronics industry is witnessing a significant surge due to the increasing usage of electronic appliances, such as smartphones, laptops, and other electronic products. They have become a necessity in the technological world. Thermoplastic adhesive films are widely used in several consumer electronics, such as cell phones and laptops. The demand for various electronic products is increasing with the constant expansion in the consumer electronics industry. The rising utilization of smartphones, laptops, and other devices is expected to drive the application of adhesive systems to manufacture core components. The complexity of electronic devices has increased along with the miniaturization of electronic components. Sophisticated electronic designs require high bonding strength and a small adhesion area, which is offered by thermoplastic adhesive films. Thus, the growing electronics industry across the globe is driving the demand for thermoplastic adhesive films. Lightweight hybrid components and advanced composites are widely used in the automotive & aerospace industries for reducing weight and enhancing component functionality. Thermoplastic adhesive films are used to fabricate high-performance composites and honeycomb core structures. Thus, the global automotive and textile industry is driving the thermoplastic adhesive films market. The volatility of prices of raw materials used in thermoplastic adhesive film manufacturing poses a challenge to the thermoplastic adhesive films market. Disruption in transportation and supply chain, rise in demand for crude oil, inflation in raw material prices, and limited supply of raw materials caused by the COVID-19 pandemic raise petroleum product prices. The rising crude oil prices due to fluctuating global economic conditions are increasing the resin prices. Thus, fluctuation in the prices of raw materials restrains the thermoplastic adhesive films market growth.
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Thermoplastic Adhesive Films Market: Strategic Insights
Market Size Value in US$ 1,757.01 million in 2022 Market Size Value by US$ 2,599.37 million by 2030 Growth rate CAGR of 5.0% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Thermoplastic Adhesive Films Market: Strategic Insights
| Market Size Value in | US$ 1,757.01 million in 2022 |
| Market Size Value by | US$ 2,599.37 million by 2030 |
| Growth rate | CAGR of 5.0% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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REPORT SEGMENTATION AND SCOPE
The "Global Thermoplastic Adhesive Films Market Analysis to 2030" is a specialized and in-depth study with a significant focus on global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation on the basis of material, application, technology, end use, and geography. The report provides key statistics on the consumption of thermoplastic adhesive films worldwide, along with their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting the thermoplastic adhesive film market performance in major regions and countries. It also includes a comprehensive analysis of the leading players in the thermoplastic adhesive films market and their key strategic developments. Analysis of the market dynamics is also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
The ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global thermoplastic adhesive films market, which helps understand the entire supply chain and various factors affecting the market growth.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
SEGMENTAL ANALYSIS
The global thermoplastic adhesive films market is segmented on the basis of material, technology, application, and end use. Based on material, the thermoplastic adhesive films market is segmented into polyethylene, polyamide, thermoplastics polyurethane, polyester, polypropylene, polyolefins, copolyamides, copolyesters, and others. On the basis of technology, the market is bifurcated into cast film and blown film. Based on application, the thermoplastic adhesive films market is segmented into membrane films, barrier films, and blackout films. Based on end use, the market is segmented into textile, automotive, electrical & electronics, medical, ballistic protection, lightweight hybrid construction, and others. Based on material, the thermoplastic polyurethane segment accounted for a significant share of the thermoplastic adhesive films market in 2022. Thermoplastic polyurethane is widely used in the formulation of adhesive films as it has exceptional bonding strength. These films can create robust and durable bonds on a wide range of substrates, making them essential in applications where dependable adhesion is paramount. Polyester is a synthetic polymer usually derived from petroleum. It is a versatile material known for its strength, durability, and resistance to several environmental factors. Based on technology, the cast film segment accounted for a significant share of the market in 2022. The cast film extrusion process is gaining popularity worldwide due to the rise in adoption of this process by thermoplastic adhesive film manufacturers. Blown film technology can manufacture monolayer and complex multilayer films that involve coextrusion to combine more than one plastic into a single film. The blown film technology is highly acceptable for manufacturing thermoplastic adhesive films. Based on application, the barrier films segment accounted for a significant share in 2022. Membrane films of thermoplastics are suitable for bonding in interior parts as they provide fully airtight connections. Membrane films adhere to PE, PP, and various vapor barrier membranes and are easy to use. The barrier films of thermoplastic adhesive prevent cross-contamination and protect equipment surfaces from harsh agents and disinfectant solutions. This film is also suitable for internal and external residential insulation.
Thermoplastic Adhesive Films Market – by Technology, 2022 and 2030
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
REGIONAL ANALYSIS
The report provides a detailed overview of the global thermoplastic adhesive films market with respect to five major regions—North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific accounted for a significant share in the thermoplastic adhesive films market and was valued at more than US$ 650 million in 2022. Asia Pacific is home to significant semiconductor and automobile players, including Samsung Electronics Co., Ltd.; Sony Group Corporation; SK Hynix Inc.; Toyota Motor Corporation; Tata Motors Ltd.; Hyundai Motor Company; Nissan Motor Co., Ltd.; and Honda Motor Co., Ltd. These companies are focused on expansion, research and development, and product innovation. The developing automotive industry in Asia Pacific is expected to create favorable business opportunities for automotive components, subsequently boosting the thermoplastic adhesive film market in the region during the forecast period. The Europe thermoplastic adhesive films market is expected to reach ~US$ 800 million in 2030. According to the report by the European Commission, turnover generated by the Europe automotive industry represents 7% of the region's total GDP. The prevalence of the automotive and textile industries across Europe is expected to drive the thermoplastic adhesive films market in the region during the forecast period. The North America thermoplastic adhesive films market is expected to grow at a CAGR of over 4% from 2022 to 2030. North America offers an extensive growth opportunity for the players of thermoplastic adhesive films due to the growing end-use industries, such as automotive, textile, and electronics.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
The report provides a detailed overview of the global thermoplastic adhesive films market with respect to five major regions North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.
- In August 2023, Kureha Corp announced its plan to increase production capacity for polyvinylidene fluoride (PVDF).
- In May 2023, Covestro AG inaugurated a production line and launched a new Desmopan UP TPU series for paint protection film in the automotive and wind sectors.
IMPACT OF COVID-19 PANDEMIC/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
Industries such as automotive, electronics, and textile have been the major consumers of thermoplastic adhesive films. In 2020, these industries had to slow down their operations due to disruptions in the value chain caused by government regulations and trade restrictions. Moreover, lockdowns imposed by different countries hampered the inventory levels of many manufacturers in the same year. The shortage of manpower resulted in a reduction in thermoplastic adhesive film production and distribution operations. Additionally, government restrictions and other COVID-19-related precautions reduced the operational capacities of stakeholders in the thermoplastic adhesive films value chain.
In late 2021, the global thermoplastic adhesive films market began recovering from the losses incurred in 2020, with the revival of end-use industries such as automotive, textile, ballistic protection, and electrical & electronics. Expansion in production capacities in the chemicals & materials industry post-COVID-19 pandemic in many regions, such as Asia Pacific and North America, is expected to create lucrative opportunities for the thermoplastic adhesive films market in the coming years.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Kureha Corp, Protechnic SA, Adhesive Films Inc, Shanghai Xingxia Polymer Products Co Ltd, Pontacol AG, HB Fuller Co, Covestro AG, Scapa Group Ltd, Prochimir Inc, Fenyang Dingxin Films Technology Co Ltd, and Fait Plast SpA are a few of the key players operating in the thermoplastic adhesive films market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material, Technology, Application, and End Use
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Based on end use, textile segment is the fastest-growing segment. The purpose of thermoplastic adhesive films is the bonding of elastic fabrics, and they are suitable for use in sports apparel, underwear, home textiles, and other textile-related applications. The rising demand and supply of high-performance textiles has further driven thermoplastic adhesive films market.
The major players operating in the global thermoplastic adhesive films market are Kureha Corp, HB Fuller Co, Covestro AG, Scapa Group Ltd, and tesa SE among others.
The growth in government investment in ballistic protection technologies, is expected to create lucrative opportunities to the global thermoplastic adhesive films market during the forecast period.
Asia Pacific accounts for the largest share of the global thermoplastic adhesive films market due to growing automotive industry in the region. Asia Pacific also marks the prevalence of the electrical & electronics industry, with high number of original equipment manufacturers.
The growing automotive and textile industries, and rising demand for consumer electronics are some of the key driving factors for the thermoplastic adhesive films market.
Based on the material, the thermoplastic polyurethane segment accounted for the largest revenue share. Thermoplastic polyurethane is widely used in the formulation of adhesive films as it has exceptional bonding strength. These films can create robust and durable bonds on a wide range of substrates, making them essential in applications where dependable adhesion is paramount.
The List of Companies - Thermoplastic Adhesive Films Market
- Kureha Corp
- Protechnic SA
- Adhesive Films Inc
- Pontacol AG
- HB Fuller Co
- Covestro AG
- Scapa Group Ltd
- Prochimir Inc
- Fait Plast SpA
- Gerlinger Industries GmbH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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