The global thermoplastic adhesive films market valued at US$ 1,757.01 million in 2022 and is expected to reach US$ 2,599.37 million by 2030. It is expected to grow at a CAGR of 5.0% from 2022 to 2030.
Thermoplastic adhesive films are utilized in many industries including in automotive, composites, textiles, and electrical & electronics for bonding of two similar or distinct materials. The feasibility of application and properties of thermoplastic adhesive films enable application on distinct surfaces such as metals, plastics, composites, and sandwich & honeycomb structures. Some thermoplastic adhesive films have exceptional heat resistance and durability, making them indispensable in automotive applications, where high-temperature performance and long-term reliability are critical. The thermoplastic adhesive films market is expected to grow owing to the growing automotive and textile industry during the forecast period.
Based on end-use industry, the global thermoplastic adhesive films market is segmented into textile, automotive, electrical and electronics, medical, ballistic protection, lightweight hybrid construction, and others. In 2022, the textile segment held a largest market share. Thermoplastic polyurethane hot melt adhesive films are used in the textile industry as they offer advantages such as high viscosity, elasticity, washability, and softness. Moreover, polyester adhesive films have no elasticity, medium melting point, high temperature, white and translucent color, and offer excellent washing resistance. Thermoplastic adhesive films are used in production of multilayer high-performance technical textiles.
The global thermoplastic adhesive films market is segmented into Asia Pacific, Europe, Middle East & Africa, North America, and South & Central America. In 2022, Asia Pacific held the largest share of the global thermoplastic adhesive films market and is expected to grow at the fastest CAGR from 2022 to 2030. The thermoplastic adhesive films market in Europe accounted for significant share. Automotive is one of the leading industries in Europe as it adds significantly to the GDPs of European countries, including Germany, Italy, and the UK. According to the report by the European Commission, turnover generated by the Europe automotive industry represents 7% of the region's total GDP. Metal-plastic hybrid components are widely used in automotive applications. Thermoplastic adhesive films bond plastic and metal in these hybrid structures. The prevalence of the automotive and textile industries across Europe is expected to drive the thermoplastic adhesive films market in the region during the forecast period.
The COVID-19 pandemic affected economies and industries in various countries across all continents with lockdowns, travel restrictions, and business shutdowns. These shutdowns disturbed global supply chains, manufacturing activities, delivery schedules, and essential and non-essential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the bans imposed by governments of various countries in the Asia Pacific, North America, and Europe on international travel forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the chemicals & materials industry in 2020 and early 2021, thereby restraining the growth of suppliers and original equipment manufacturers operating in the thermoplastic adhesive films value chain. The massive outbreak disrupted operational efficiencies in the European market. In 2021, the global marketplace began recovering from the losses incurred in 2020 as governments of different countries announced relaxations in social restrictions. Moreover, the previously postponed construction projects began resumption by the end of 2021, providing an opportunity for the thermoplastic adhesive films market players to regain production rates.
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, are among the key players in the global thermoplastic adhesive films market. These companies are adopting several strategies, including mergers & acquisitions and product launches to expand their geographic presence and consumer bases.
The overall global thermoplastic adhesive films market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants, including valuation experts, research analysts, and key opinion leaders—specializing in the global thermoplastic adhesive films market.