ADHESIVE FILMS MARKET ANALYSIS

Market Challenges And Opportunities

Global Adhesive Films Market: Drivers

Rising Demand for Compact and Lighter Electronic Devices

Increasing demand for compact and lighter electronic devices is expected to drive the global adhesive films market growth. Growing demand for miniaturization of electronic devices such as portable personal computers, tablets, and cell phones are boosting demand for adhesive films. Growing smartphone market is also expected to drive the global adhesive films market growth. Also, increasing sales of electronic devices around the globe is further projected to propel the global adhesive films market growth. For instance, in 2022, global sales of electronic devices reached US$ 3.7 trillion. This represents a growth of 5.2% from 2021.

 Increasing Demand for Medical Films and Tapes

Growing demand for medical films and tapes for wound care is expected to drive the global adhesive films market growth. Growing healthcare industry coupled with increasing investment in the medical industry for improving healthcare facilities is driving the market growth. Increasing accidents and other injuries is creating demand for medical tapes and films.  The market for medical adhesive films is expected to experience a surge in demand due to the prevalence of accidents and injuries. For instance, in 2022, global sales of medical adhesive films reached to US$ 7.7 billion. This represents a growth of 6.2% from 2021.

Global Adhesive Films Market: Restraints

Fluctuations in Prices of Raw Materials

The fluctuating price of raw materials used in the production of the adhesive films is expected to hinder the global adhesive films market growth. Epoxy, acrylates, polyolefin, and polyurethanes are some of the key raw materials that are used in the production of adhesive films, and all these products are petroleum derived feedstock, which is highly susceptible to price volatility.

High manufacturing costs and complexities associated with the production of adhesives films are expected to limit their demand. This factor is expected to hamper the market growth.

Global Adhesive Films Market: Opportunity

Rising Usage of Adhesive Film in Various Sector

The widespread use of adhesive films for reinforcement plates, door hinge washers, and bracket attachments in the automotive industry is expected to drive the market growth. Adhesive films are also used in food and beverage packaging, solar energy, defense and aerospace, LED lighting, and many other industries.