Industry News

Film Adhesives Market to Grow USD 1.62 Bn By 2023

Published on 2018-07-13. Author : SpecialChem

The film adhesives market is projected to grow from USD 1.24 billion in 2018 to USD 1.62 billion by 2023, at a CAGR of 5.5% between 2018 and 2023. This growth can be attributed to the preference for film adhesives over conventional adhesives in high-end aerospace applications due to its benefits such as controlled bond-line thickness and no-mix prerequisite.

Adhesive film market
Adhesive films market predicted to increase by 2023

Epoxy Resin Market

Epoxy is estimated to be the largest resin type segment of the film adhesives market in 2018. The growth of the epoxy segment can be attributed to its properties, such as high strength, high temperature resistance, and high fatigue resistance.

Electrical & Electronics becomes the Largest End-user

Based on end-use, the electrical & electronics segment is estimated to lead the film adhesives market in 2018. Film adhesives are widely used to manufacture and assemble electronic circuits and products. These adhesives are produced from resins that help improve mechanical support, lower strain on solder joints, and provide superior protection from moisture. Film adhesives are mostly used in the bonding of surface-mount components and other electrical & electronics applications. It is also used in handheld communications, computing, and medical electronics applications.

APAC is projected to be the largest market for film adhesives. Factors such as increasing electronics manufacturing, rising demand for miniaturization of components, and growth in the production of aerospace and automotive have contributed to the growth of the film adhesives market in the APAC region.

Source: Markets and Markets
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