Thermoplastic Adhesive Films Market Size Report | Growth & Forecast 2030

[Research Report] 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

Thermoplastic Adhesive Films Market

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  CAGR (2022 - 2030)

  5.0%
• Market Size 2022
  US$ 1.76 Billion
• Market Size 2030
  US$ 2.6 Billion

Market Dynamics

GROWTH DRIVERS

• Growing Automotive and Textile Industries
• Rising Demand for Consumer Electronics

FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• Kureha Corp
• Protechnic SA
• Adhesive Films Inc
• Pontacol AG
• HB Fuller Co
• Covestro AG
• Scapa Group Ltd
• Prochimir Inc
• Fait Plast SpA

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Material

• Polyethylene
• Polyamide
• Thermoplastics Polyurethane
• Polyester
• Polypropylene
• Polyolefins
• Copolyamides
• Copolyesters

Technology

• Cast Film and Blown Film

Application

• Membrane Films
• Barrier Films
• Blackout Films

End Use

• Textile
• Automotive
• Electrical and Electronics
• Medical
• Ballistic Protection
• Lightweight Hybrid Construction

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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.

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.

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.

Thermoplastic Adhesive Films Market Report Scope

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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.