World News: 04:29 GMT Wednesday 12th June 2019. [Technavio Research via Businesswire via SPi World News]
The global adhesive films market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global adhesive films market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global adhesive films market is the rise in demand for adhesive films in APAC. Many adhesive film manufacturers are shifting their manufacturing activities to emerging economies including China, India, Indonesia, Taiwan, and the Philippines due to the easy availability of raw materials, low transportation costs and less stringent government regulations. Also, the rapidly growing packaging industry in these advancing economies is further expected to augment the adhesive films demand in the upcoming years. Furthermore, the emergence of India and China as the manufacturing hubs for packaging, construction, automobile and other industries coupled with supporting government initiatives in APAC will foster the adhesive films market growth during the forecast period.
As per Technavio, the rising adoption of lightweight vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global adhesive films market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global adhesive films market: Rising adoption of lightweight vehicles
Adhesive films are increasingly being used to reduce the deployment of fasteners in automobile components, including exterior body parts, axles, and suspension systems. With the adoption of adhesive films as an alternative to fasteners, the overall weight of vehicles is significantly reduced. Therefore, the growing adoption of lightweight vehicles will directly drive the adhesive films market growth during the forecast period. Moreover, the fact that lightweight vehicles help in reducing fuel emissions and meeting carbon dioxide emission standards make them a viable solution for end-users in the automotive industry. Thus, with rising demand for lightweight vehicles, the need for adhesive films will also increase in the forthcoming years.
“Stringent regulations in the economies, including the US, Germany, the UK, and Canada, are fostering the use of adhesive films to produce lightweight vehicle components. Car manufacturers are using materials, including adhesive films, to meet carbon dioxide emission standards. This trend is anticipated to foster the growth of the global adhesives films market during the forecast period,” says a senior research analyst at Technavio.
Global adhesive films market: Segmentation analysis
This market research report segments the global adhesive films market by application (tapes, labels, graphics, and others) and geographic regions (APAC, North America, Europe, MEA, and South America).
APAC led the market in 2018, followed by North America, Europe, MEA, and South America, respectively. The market growth in APAC can be attributed to the several advantages offered by adhesive films in different end-user industries, including their superior strength, durability, and chemical resistance.
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Five Forces Analysis
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Business Wire: 04:29 GMT Wednesday 12th June 2019
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