Market Trends: Adhesive Films Market to See Solid Growth
Increasing applications in the healthcare, electronics, packaging and automotive industries are all driving the market for adhesive films.
The global adhesive films market was valued at $9.7 billion in 2013 and is expected to reach $14.45 billion by 2020, expanding at a compound annual growth rate (CAGR) of 6% during the forecast period, according to Transparency Market Research’s “Adhesive Films Market—Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014-2020.” In terms of volume, the global adhesive films market stood at 3,105.5 kilotons in 2013.
The global adhesive films market is estimated to expand quickly due to rising applications in the healthcare, electronics, packaging and automotive industries. Medical practitioners are increasingly using adhesive films and tapes in wound-care applications. Major factors that are estimated to drive the global adhesive films market in the next few years include the development of compact and lightweight electronic devices, a regulatory push for lightweight cars/trucks with lower carbon footprints, and the rising adoption of flexible packaging.