By 2030, the Thermoplastic Adhesive Films Market is poised to reach a valuation of $2.6 Billion – Update

The global Thermoplastic Adhesive Films Market is growing at a CAGR of 5.0% from 2022 to 2030

Pune, India, Oct. 06, 2023 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on “Thermoplastic Adhesive Films Market Size, Share, Growth Factors, Opportunity and Forecast to 2030– COVID-19 Impact and Global Analysis – by Material, Application, Technology, End Use, and Geography,” the thermoplastic adhesive films market size was valued at US$1.76 Billion in 2022 and is expected to reach US$ 2.6 Billion by 2030; it is estimated to register a CAGR of 5.0% from 2022 to 2030. The projected growth of the market is attributed to the growing end-use industries such as automotive, electrical & electronics, medical, and ballistic protection.

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Global Thermoplastic Adhesive Films Market: Competitive Landscape and Key Developments

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, Fait Plast SpA, and Gerlinger Industries GmbH are a few players operating in the global thermoplastic adhesive films market. Players operating in the global thermoplastic adhesive films market focus on providing high-quality products to fulfill customer demand.

Thermoplastic Adhesive Films Market Report Scope, Segmentations, Regional & Country Scope:

In 2022, Asia Pacific dominated the global thermoplastic adhesive films market. According to a report published by the China Passenger Car Association, in 2022, Tesla Inc. delivered 83,135 made-in-China electric vehicles, indicating growth in sales of electric vehicles from 2021. According to the International Organization of Motor Vehicle Manufacturers, motor vehicle production in Japan reached 7.83 million units in 2022. 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.

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Robust Growth of Automotive Industry Bolsters Thermoplastic Adhesive Films Market Growth

The automotive industry is growing in various countries across the world due to factors such as transition toward electric vehicles, economic growth, increasing population, government support for automotive production, and rising investments in the industry. According to the International Organization of Motor Vehicle Manufacturers, the global sales of passenger cars increased from 53.92 million in 2020 to 57.49 million in 2022. In December 2022, the passenger vehicle market in China expanded due to increased retail sales. Growing preference for Thermoplastic Adhesive Films by automotive and furniture industry propels the demand for Thermoplastic Adhesive Films.

Thermoplastic Adhesive Films Market: Segmental Overview

Based on material, the thermoplastic adhesive films market is segmented into polyethylene, polyamide, thermoplastics polyurethane, polyester, polypropylene, polyolefins, copolyamides, copolyesters, and others. The thermoplastic polyurethane segment recorded the largest segmental share in 2022 and recorded the highest CAGR from 2022 to 2030. 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. Industries such as automotive, textile, footwear, and electronics rely on thermoplastic polyurethane adhesive films to ensure bonded components remain securely affixed over time, even in challenging conditions. Flexibility and elasticity are hallmarks of thermoplastic polyurethane-based adhesive films. These films can be tailored to offer outstanding conformability, allowing them to adapt seamlessly to curved or irregular surfaces.

Based on technology, the thermoplastic adhesive films market is bifurcated into cast film and blown film. The thermoplastic adhesive film market share for the cast film segment was recorded to be the largest in 2022. The cast film process involves coextrusion, a simultaneous extrusion of two or more materials from a single die to form a multi-layered film. The performance of thermoplastic adhesive films depends on the use of materials in the processing technology. Due to coextrusion technology, the film material can consist of five different layers, allowing optimized adaptation of the film material as per the customer’s requirements. The cast film extrusion process is gaining popularity worldwide due to the rise in adoption of this process by thermoplastic adhesive film manufacturers.

Key Developments

• 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.

• In April 2023, Pontacol AG introduced biobased thermoplastic adhesive films for composites.

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Impact of COVID-19 Pandemic on Thermoplastic Adhesive Films Market

Before the COVID-19 pandemic, many countries reported economic growth, whereas thermoplastic adhesive film manufacturers invested in research to develop advanced technology and improve production efficiency. Subsequently, these factors hampered the manufacturing, delivery schedules, and sales of various goods. The chemicals & materials industry announced a slowdown of manufacturing operations and shutdown and projected a slump in thermoplastic adhesive film sales. Thus, significant companies involved in thermoplastic adhesive films production faced the hardest hit during the initial phase of the pandemic due to sudden government restrictions on the manufacturing of nonessential commodities. In 2021, several developed economies began recovering from the losses incurred in 2020 as governments of various countries announced relaxation in social restrictions. Manufacturers were permitted to operate at full capacities, which helped them cope with the demand-supply gap. With economies reviving their operations, the demand for thermoplastic adhesive films started rising globally as the electronics, automotive, ballistic protection, and chemicals industries resumed their operations at full capacity.

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