Report : Asia Pacific Thermoplastic Adhesive Films Market Forecast to 2030 - Regional Analysis - by Material (Polyethylene, Polyamide, Thermoplastics Polyurethane, Polyester, Polypropylene, Polyolefins, Copolyamides, Copolyesters, and Others), Technology (Cast Film and Blown Film), Application (Membrane Films, Barrier Films, and Blackout Films), and End Use (Textile, Automotive, Electrical and Electronics, Medical, Ballistic Protection, Lightweight Hybrid Construction, and Others)
At 5.7% CAGR, The Asia Pacific Thermoplastic Adhesive Films Market is Speculated to be Worth US$ 1,048.70 Million by 2030, Says Business Market Insights
According to Business Market Insights research, the Asia Pacific thermoplastic adhesive films market was valued at US$ 671.53 million in 2022 and is expected to reach US$ 1,048.70 million by 2030, registering a CAGR of 5.7% from 2022 to 2030. Growing government investment in ballistic protection technologies and adoption of bio-based thermoplastic adhesive films are among the critical factors attributed to the Asia Pacific thermoplastic adhesive films market expansion.
The increased security risks and the need to enhance national border security have prompted governments to increase investments in defense and ballistic protection. For instance, the Ministry of Defense (India) published a report in 2022 stating its target of growing defense materials production to US$ 22 billion by 2025. The report also revealed that the government started initiatives such as Innovations for Defense Excellence and Technology Development Fund to provide financial assistance for product innovations for the Armed Forces. High-performance fabrics are used widely for ballistic protection against explosions, blasts, and projectiles. These fabrics possess distinct characteristics such as high strength, high modulus, sound absorption, impact energy absorption, and chemical resistance.
Advanced composites are also utilized in ballistic applications such as interlinings and insulations, protective products for vehicular crash guards, ballistic panels for body armor, and helmets. Thermoplastic adhesive films have broad applications in the production of advanced composites and textiles. Thus, the growing government investments in the defense sector to develop military vehicles and high-performance products are expected to create growth opportunities for thermoplastic adhesive film manufacturers during the forecast period.
On the contrary, fluctuations in raw material prices hampers the growth Asia Pacific thermoplastic adhesive films market.
Based on material, the Asia Pacific thermoplastic adhesive films market is segmented into polyethylene, polyamide, thermoplastics polyurethane, polyester, polypropylene, polyolefins, copolyamides, copolyesters, and others. The thermoplastics polyurethane segment held 23.6% share of the Asia Pacific thermoplastic adhesive films market in 2022, amassing US$ 158.34 million. It is projected to garner US$ 264.07 million by 2030 to expand at 6.6% CAGR during 2022-2030.
Based on technology, the Asia Pacific thermoplastic adhesive films market is bifurcated into cast film and blown film. The cast film segment held 68.8% share of the Asia Pacific thermoplastic adhesive films market in 2022, amassing US$ 461.81 million. it is projected to garner us$ 730.49 million by 2030 to expand at 5.9% CAGR during 2022-2030.
Based on application, the Asia Pacific thermoplastic adhesive films market is segmented into membrane films, barrier films, and blackout films. The barrier films segment held 44.0% share of Asia Pacific thermoplastic adhesive films market in 2022, amassing US$ 295.30 million. It is projected to garner US$ 479.55 million by 2030 to expand at 6.2% CAGR during 2022-2030.
Based on end use, the Asia Pacific thermoplastic adhesive films market is segmented into textile, automotive, electrical and electronics, medical, ballistic protection, lightweight hybrid construction, and others. The textile segment held 24.4% share of Asia Pacific thermoplastic adhesive films market in 2022, amassing US$ 163.56 million. It is projected to garner US$ 263.57 million by 2030 to expand at 6.1% CAGR during 2022-2030.
Based on country, the Asia Pacific thermoplastic adhesive films market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held 61.5% share of Asia Pacific thermoplastic adhesive films market in 2022, amassing US$ 412.66 million. It is projected to garner US$ 664.31 million by 2030 to expand at 6.1% CAGR during 2022-2030.
Key players operating in the Asia Pacific thermoplastic adhesive films market are Kureha Corp, PROTECHNIC SA, PROCHIMIR Inc, Shanghai Xingxia Polymer Products Co Ltd, HB Fuller co, Covestro AG, Scapa Group Ltd, and tesa SE, among others.
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