The global market for adhesive films is anticipated to reach US$ 19.1 billion in 2023 and increase at a CAGR of 4.6% between 2023 and 2033. By 2033, the market is anticipated to reach US$ 29.8 billion. By 2023, the top 3 countries competing on the international market are anticipated to control 20% to 25% of the market.
Due to their many advantages, including their tiny packaging size and ease of storage, handheld adhesive films are among the most often used pump types. Thus, it is expected that the handheld market would grow at a CAGR of 4.6% over the forecast period.
According to a research analysis by Future Market Insights, the adhesive films market will bring in about US$18.1 billion in revenue in 2022. Given the soaring demand for cosmetics and personal care items, it is predicted that the worldwide adhesive films market would generate incremental growth opportunities worth US$ 11.7 billion over the predicted time period.
The market for adhesive films is also estimated to expand profitably during the anticipated time frame. Due to the rising demand for packaged food and beverages, the adhesive film market is expected to grow. The aforementioned factors are anticipated to cause the market for adhesive films to grow 1.6 times its current value over the anticipated timeframe.
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Key Takeaways from Global Adhesive Films Market Study
- Demand for labels across industries to determine success of adhesive films between 2020 and 2030
- Automotive sector to emerge as the leading end user globally
- Pace of construction industry recovery to determine adhesive films market growth
- Asia Pacific to emerge as the leading regional market with emerging economies thriving with manufacturing activities
The demand for adhesive films from the food packaging industry will continue to soar in the coming days as global economy witnesses a shift in consumption patterns.
The longer shelf life of packaged and frozen food become its unique selling point during the lockdowns. Growing sales have resulted in high demand for packaging solutions, which in turn fuelled the demand for adhesive films.
Analysts anticipate as the COVID-19 pandemic continues to wreak havoc it will push people to opt for packaged food, which is an essential and a means of staying indoors. Thus, food packaging industry is expected to give this market a definitive boost in the near future.
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“The adhesive films market was growing at a brisk pace, however, the COVID-19 has stalled growth. The lack of momentum has been compensated, to an extent, by growing demand from food packaging industry” says FMI analyst.
Key Segment
By Material
- BOPP
- PVC
- PE
- PA
- Others
By Adhesive Type
- Acrylic
- Rubber
- Silicone
By Application
- Labels
- Tapes
- Graphic Films
By End Use
- Electrical and Electronics
- Building and Construction
- Aerospace
- Automotive
- Packaging
- Transportation
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Impact of COVID-19 on Adhesive Films Market
The impact of COVID-19 can be felt on the global adhesive films market. As automobile companies witnessed waning sales in the first and second quarter of 2020, it resulted in a massive drop of revenue for the adhesive films market.
Similarly, the market suffered as air travel faced bans and halts, reducing the need for repairs and maintenance altogether. Furthermore, no new contracts and no end in sight to allow travel fully have continued to impact the usage of adhesive films in the aerospace industry.
Key Questions Answered in the Report:
(1) What are the growth opportunities for the new entrants in the Global Adhesive Films industry?
(2) Who are the leading players functioning in the Global Adhesive Films marketplace?
(3) What are the key strategies participants are likely to adopt to increase their share in the Global Adhesive Films industry?
(4) What is the competitive situation in the Global Adhesive Films market?
(5) What are the emerging trends that may influence the Global Adhesive Films market growth?
(6) Which product type segment will exhibit high CAGR in future?
(7) Which application segment will grab a handsome share in the Global Adhesive Films industry?
(8) Which region is lucrative for the manufacturers?
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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