PUNE, India, June 29, 2018 /PRNewswire/ --
According to a new market research report "Film Adhesives Market by Resin Type (Epoxy, Acrylic, Cyanate Ester), End-Use Industry (Electrical & Electronics, Aerospace, Automotive & Transportation, Consumer), and Region (APAC, North America, Europe, South America, and MEA) - Global Forecast to 2023", published by MarketsandMarkets™, the Film Adhesives Market is projected to grow from USD 1.24 billion in 2018 to USD 1.62 billion by 2023, at a CAGR of 5.5% between 2018 and 2023. This growth can be attributed to the preference for film adhesives over conventional adhesives in high-end aerospace applications due to its benefits such as controlled bond-line thickness and no-mix prerequisite.
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Based on resin type, the epoxy segment is projected to lead the Film Adhesives Market during the forecast period.
Epoxy is estimated to be the largest resin type segment of the Film Adhesives Market in 2018. The growth of the epoxy segment can be attributed to its properties, such as high strength, high temperature resistance, and high fatigue resistance.
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The electrical & electronics segment is estimated to be the largest end-use segment of the Film Adhesives Market.
Based on end-use, the electrical & electronics segment is estimated to lead the Film Adhesives Market in 2018. Film adhesives are widely used to manufacture and assemble electronic circuits and products. These adhesives are produced from resins that help improve mechanical support, lower strain on solder joints, and provide superior protection from moisture. Film adhesives are mostly used in the bonding of surface-mount components and other electrical & electronics applications. It is also used in handheld communications, computing, and medical electronics applications.
APAC is expected to lead the Film Adhesives Market during the forecast period.
APAC is projected to be the largest market for film adhesives. Factors such as increasing electronics manufacturing, rising demand for miniaturization of components, and growth in the production of aerospace and automotive have contributed to the growth of the Film Adhesives Market in the APAC region.
Key companies operating in the Film Adhesives Market include H.B. Fuller (US), Henkel (Germany), Arkema (Bostik) (France), 3M (US), and Cytec Solvay Group (Belgium).
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