170 Pages Market Research Survey by Fact.MR, A Market Research and Competitive Intelligence Provider Highlights Key Factors Driving the Growth of Film Adhesives Market Over the Forecast Period 2021-2031
Fact.MR study on the film adhesives market offers compelling insights into key drivers and restraints affecting growth. The survey identifies rising application in aerospace, automotive, electrical & electronics and other industries as chief growth drivers.
NEW YORK, July 13, 2021 /PRNewswire/ -- As per an analysis by Fact.MR, the global film adhesives market is estimated exhibit positive growth, expanding at a CAGR of 4% during the forecast period 2021 to 2031. Owing to the increasing application across the end use industries such as aerospace, automotive, and electrical & electronics, the market for film adhesives is likely to reach a valuation of US$ 2 billion by the end of 2031.
The market registered a sluggish growth at a CAGR of 2% in 2020, which can be attributable to restrictions implemented to contain COVID-19. Restricted growth caused the market to close at around US$ 1 billion. However, with ongoing expansion in the aerospace industry, the demand for film adhesives is expected to spur.
According to a study by the Aerospace Industries Association, the U.S aerospace & defense industry has registered lucrative gains, accounting for sales of over US$ 909 billion in 2019. Thus, with increasing air travel, the demand for new aircraft is estimated to rise, in turn, creating sales opportunities for film adhesives.
Electrical & electronic industry is estimated to dominate the end use segment, accounting for over 40% of the market share through 2031. Owing to the increase in use of film adhesives for bonding internal and external components such as switches, circuitry, wires, among others, the industry has become a center point for the expansion of the market.
"To cater to increasing demand of adhesives from automotive, electrical & electronics and aerospace industries, leading players in the market are emphasizing on developing innovative film adhesives such as two-part epoxy adhesive to increase their market share," says the Fact.MR analyst.
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The market for film adhesives is highly competitive due to the presence of multiple regional and global market players. Manufacturers are increasingly investing in research and development (R&D) for introducing novel products to strengthen their market footprint and increasing their market share. For instance,
In February 2021, Axiom Materials Inc. announced introducing its new product named, CerFaceTM AX-8810, a surfacing film designed to enhance the outer finish of ultra-high temperature CMC components for aerospace and industrial applications.
In June 2021, Henkel AG announced launching it new two-part epoxy adhesive named, Loctite EA 9365FST, which reinforces and bonds thermoset and thermoplastic substrates for use in aircraft interiors.
Some of the prominent players operating in the film adhesives market profiled by Fact.MR are:
AI Technology Inc.
Axiom Materials Inc.
Bondline Electronic Adhesives Inc.
Dai Nippon Printing Co. Ltd.
Gurit Holding AG
H.B Fuller Company
Henkel AG & Co. KGaA
Master Bond Inc.
More Valuable Insights on Film AdhesivesMarket
Fact.MR, in its new report, offers an unbiased analysis of the global film adhesives market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in film adhesives market with detailed segmentation:
Film Adhesives for Electricals & Electronics
Film Adhesives for Aerospace
Film Adhesives for Automotive & Transportation
Consumer Film Adhesives
Film Adhesives for Other End Use Industries
Epoxy Film Adhesives
Cyanate Ester Film Adhesives
Acrylic Film Adhesives
Other Resin Film Adhesives
Key Questions Covered in the Film AdhesivesMarket Report
The report offers insight into film adhesives demand outlook for 2021-2031
The market survey also highlights projected sales growth for the film adhesives market between 2021 and 2031
Film adhesives market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Film adhesives market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Explore Fact. MR's Coverage on the Chemical & Materials Domain
Epoxy Curing Agents Market - In the future years, the growing demand for epoxy curing agents as a lightweight raw material in numerous industrial applications will continue to have a significant impact on market dynamics. The need for epoxy curing agents in a number of industrial applications is driving incremental growth in the epoxy curing agents market. Epoxy curing agents are projected to stay in high demand, since they are expected to contribute to market growth.
Aerospace Coatings Market - The demand for high-quality aerospace coatings is increasing as fleet sizes grow, ensuring longer lifespans by improving the durability of aircraft bodies to avoid corrosion, UV radiation, and abrasion caused by frequent use. Modern air travel places a strong emphasis on long-distance travel with low operating costs, which necessitates the use of aerospace coatings. In the long run, this allocation is likely to help aircraft coatings manufacturers.
Coating Additives Market - Manufacturers are progressively working on improving coating performance and creating multi-functional and hybrid coatings, as well as novel eco-friendly products such as green coatings, nano-coatings, and other environmentally friendly products. Manufacturers would be able to adjust to new regulatory dynamics as a result of these advances. Furthermore, these advancements are expected to be application-specific, expanding the coating additives market's customer base.
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