The global market for thermoplastic adhesive films was valued at approximately US$ 1,757.01 million in 2022 and is projected to grow to around US$ 2,599.37 million by 2030, reflecting a compound annual growth rate (CAGR) of 5.0% during the period from 2022 to 2030.
Thermoplastic adhesive films find applications across various sectors, including automotive, textiles, composites, and electrical & electronics, serving the purpose of bonding similar or different materials. Their versatile properties and ease of application allow them to adhere to a wide range of surfaces, such as metals, plastics, composites, and complex structures like sandwich and honeycomb designs. Certain thermoplastic adhesive films exhibit remarkable heat resistance and durability, making them essential in the automotive sector, where high-temperature performance and long-lasting reliability are paramount. The anticipated growth of the thermoplastic adhesive films market is largely attributed to the expanding automotive and textile industries throughout the forecast period.
The global thermoplastic adhesive films market is categorized by end-use industries, which include textile, automotive, electrical and electronics, medical, ballistic protection, lightweight hybrid construction, and others. In 2022, the textile segment dominated the market share. In the textile sector, thermoplastic polyurethane hot melt adhesive films are favored due to their high viscosity, elasticity, washability, and softness. Additionally, polyester adhesive films, which lack elasticity, possess a medium melting point, high-temperature resistance, and a white or translucent appearance, are known for their excellent wash resistance. These films are integral in the manufacturing of multilayer high-performance technical textiles.
Geographically, the global thermoplastic adhesive films market is divided into regions including Asia Pacific, Europe, Middle East & Africa, North America, and South & Central America. In 2022, Asia Pacific held the largest market share and is anticipated to experience the highest growth rate from 2022 to 2030. Europe also accounted for a significant portion of the market, with the automotive industry being a major contributor to the GDP of several European nations, such as Germany, Italy, and the UK. According to a report from the European Commission, the automotive sector generates about 7% of the total GDP in Europe. The use of metal-plastic hybrid components is prevalent in automotive applications, where thermoplastic adhesive films are employed to bond plastic and metal in these hybrid structures. The strong presence of the automotive and textile sectors in Europe is expected to further propel the thermoplastic adhesive films market in the region during the forecast period.
The COVID-19 pandemic had a profound impact on economies and industries worldwide, leading to lockdowns, travel restrictions, and business closures. These disruptions affected global supply chains, manufacturing processes, delivery timelines, and sales of both essential and non-essential products. Many companies reported potential delays in product deliveries and a decline in future sales during 2020. Additionally, government-imposed travel bans in regions such as Asia Pacific, North America, and Europe hindered collaboration and partnership efforts among companies. These challenges significantly affected the chemicals & materials industry in 2020 and early 2021, thereby limiting the growth of suppliers and original equipment manufacturers within the thermoplastic adhesive films value chain. The extensive outbreak disrupted operational efficiencies, particularly in the European market. However, by 2021, the global market began to recover from the setbacks of 2020 as various governments eased social restrictions. Furthermore, previously delayed construction projects resumed by the end of 2021, providing an opportunity for players in the thermoplastic adhesive films market to restore their production levels.
Key players in the global thermoplastic adhesive films market include Kureha Corp, Protechnic SA, Adhesive Films Inc, Pontacol AG, HB Fuller Co, Covestro AG, Scapa Group Ltd, Prochimir Inc, Fenyang Dingxin Films Technology Co Ltd, Gerlinger Industries GmbH, and Fait Plast SpA. These companies are employing various strategies, such as mergers & acquisitions and new product launches, to enhance their geographic reach and expand their customer bases.
The overall size of the global thermoplastic adhesive films market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants, including valuation experts, research analysts, and key opinion leaders specializing in the global thermoplastic adhesive films market.