The 2021 global adhesive film market reached a size of USD 20.67 Billion and is anticipated to experience a 5.5% compound annual growth rate (CAGR) in revenue throughout the forecast period. The market's growth is expected to be fueled by an increasing number of Research and Development (R&D) initiatives in the aerospace industry, expansion of construction projects, and rising demand for vehicles and automotive electronics. Adhesive films, referred to as pre-catalyzed adhesives, are manufactured in sheet or film form and encompass various substances such as bismaleimide, phenol, and epoxy. Following the curing process, these film adhesives establish a robust structural bond on the attached surface and exhibit resistance to environmental conditions, particularly high temperatures.
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Competitive Landscape:
Competitive landscape of the global adhesive film market is consolidated with a few key players operating on global and regional levels. Key players are engaged in product development and strategic alliances to expand their respective product portfolios and gain a robust footing in the global market. Major players in the market report include BASF SE, 3M, Avery Dennison Corporation, UPM, CCL Industries, Constantia Flexibles, Cosmo Films, TORAY INDUSTRIES, INC., Coveris, and Mondi.
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Driving factors of adhesive film market
- Research and Development Initiatives: Increasing investments in Research and Development (R&D) activities, particularly in the aerospace industry, are driving advancements and innovations in adhesive film technology.
- Construction Project Expansion: The expansion of construction projects globally is contributing to the demand for adhesive films, as these materials find applications in various construction-related processes and products.
- Growing Demand for Vehicles: The automotive industry's continuous growth and the increasing demand for vehicles are boosting the need for adhesive films, which play a crucial role in vehicle manufacturing processes.
- Rising Automotive Electronics: As the automotive industry incorporates more electronic components into vehicles, there is a growing demand for adhesive films that provide reliable bonding for electronic systems and components.
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