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; it is estimated to grow at a CAGR of 5.7% from 2022 to 2030.
Rising Demand for Consumer Electronics Fuels the Asia Pacific Thermoplastic Adhesive Films Market
The consumer electronics industry is witnessing a significant surge due to the increasing usage of electronic appliances, such as smartphones, laptops, and other electronic products. They have become a necessity in the technological world. Thermoplastic adhesive films are widely used in several consumer electronics, such as cell phones and laptops. The demand for various electronic products is increasing with the constant expansion in the consumer electronics industry. The rising utilization of smartphones, laptops, and other devices is expected to drive the application of adhesive systems to manufacture core components. The complexity of electronic devices has increased along with the miniaturization of electronic components. Sophisticated electronic designs require high bonding strength and a small adhesion area, which is offered by thermoplastic adhesive films. China is a major manufacturing destination for electronics, with the presence of many electronic OEMs. China is the largest manufacturing hub of electronics in the world. Factors such as low labor costs, availability of skilled labor, and strong supply chains are driving the growth of the electronics industry. In Malaysia, electronics manufacturing contributes significantly to the exports of the country. Many electronic companies have moved manufacturing to India in the past few years. The government of India is also showing an aggressive approach to promoting the country as an alternative market to China. According to Invest India, the global electronics manufacturing services market is anticipated to reach US$ 1,145 billion by 2026, at a CAGR of 5.4% during 2021-2026. The India Brand Equity Foundation states that the Indian electronics manufacturing industry is expected to reach US$ 520 billion by 2025. Thus, the growing electronics industry is driving the demand for thermoplastic adhesive films.
Asia Pacific Thermoplastic Adhesive Films Market Overview
Asia Pacific is home to significant semiconductor and automobile players, including Samsung Electronics Co., Ltd.; Sony Group Corporation; SK Hynix Inc.; Toyota Motor Corporation; Tata Motors Ltd.; Hyundai Motor Company; Nissan Motor Co., Ltd.; and Honda Motor Co., Ltd. These companies are focused on expansion, research and development, and product innovation. In 2020, Covestro AG and Toyota Boshoku Corp partnered to develop kenaf fiber-reinforced polyurethane foam composite material for utilization in electric concept car LQ door trims. According to a report published by the China Passenger Car Association, in 2022, Tesla Inc. delivered 83,135 made-in-China electric vehicles, indicating growth in sales of electric vehicles from 2021.
As per the International Organization of Motor Vehicle Manufacturers report, in 2021, the countries in Asia Pacific produced ~46.73 million units of motor vehicles. According to the International Organization of Motor Vehicle Manufacturers, motor vehicle production in Japan reached 7.83 million units in 2022. The developing automotive industry in Asia Pacific is expected to create favorable business opportunities for automotive components, subsequently boosting the thermoplastic adhesive film market in the region during the forecast period.
Asia Pacific Thermoplastic Adhesive Films Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Thermoplastic Adhesive Films Market Segmentation
The Asia Pacific thermoplastic adhesive films market is segmented based on material, technology, application, end use, and country.
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 the largest share in 2022.
Based on technology, the Asia Pacific thermoplastic adhesive films market is bifurcated into cast film and blown film. The cast film segment held a larger share in 2022.
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 the largest share in 2022.
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 the largest share in 2022.
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 dominated the Asia Pacific thermoplastic adhesive films market in 2022.
Kureha Corp, PROTECHNIC SA, PROCHIMIR Inc, Shanghai Xingxia Polymer Products Co Ltd, HB Fuller co, Covestro AG, Scapa Group Ltd, and tesa SE are some of the leading companies operating in the Asia Pacific thermoplastic adhesive films market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 671.53 Million |
| Market Size by 2030 | US$ 1,048.70 Million |
| CAGR (2022 - 2030) | 5.7% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Material
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
1. Kureha Corp
2. PROTECHNIC SA
3. Shanghai Xingxia Polymer Products Co Ltd
4. HB Fuller co
5. Covestro AG
6. Scapa Group Ltd
7. tesa SE
8. Fenyang Dingxin Films Technology Co Ltd
The Asia Pacific Thermoplastic Adhesive Films Market is valued at US$ 671.53 Million in 2022, it is projected to reach US$ 1,048.70 Million by 2030.
As per our report Asia Pacific Thermoplastic Adhesive Films Market, the market size is valued at US$ 671.53 Million in 2022, projecting it to reach US$ 1,048.70 Million by 2030. This translates to a CAGR of approximately 5.7% during the forecast period.
The Asia Pacific Thermoplastic Adhesive Films Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Thermoplastic Adhesive Films Market report:
The Asia Pacific Thermoplastic Adhesive Films Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Thermoplastic Adhesive Films Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Thermoplastic Adhesive Films Market value chain can benefit from the information contained in a comprehensive market report.
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