Asia-Pacific Continues to Drive Demand for Adhesive Films
Many adhesive film manufacturers are shifting their manufacturing activities to emerging economies including China, India, Indonesia, Taiwan, and the Philippines.
The global adhesive films market is expected to post a CAGR of close to 5% from 2019-2023, according to a recent market research report by Technavio. A key factor driving the growth of the global adhesive films market is increasing demand in the Asia-Pacific region. 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.
The rapidly growing packaging industry in these advancing economies is further expected to augment adhesive films demand in the upcoming years. In addition, the emergence of India and China as manufacturing hubs for packaging, construction, automobile, and other industries—coupled with supporting government initiatives—will foster growth for the adhesive films market during the forecast period.