TAGS: Waterborne Adhesives Hot-melt Adhesives
Markets and Markets (M&M) anticipates that 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. Increasing urbanization boost the adhesive films market.
Construction: Fastest-growing Segment
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.
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.
Highest Growth in India
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.
The key players profiled in the Adhesive films market report are 3M Company (US), Avery Dennison Corporation (US), Henkel AG& Co. KGAA (Germany), UPM-Kymmene Oyj (Finland), and H.B. Fuller Company (US).
Source: Markets and Markets (M&M)