PUNE, India, August 16, 2017 /PRNewswire/ --
According to a new market research report "Bonding Films Market by Type (Epoxy, Acrylic, Polyurethane), Technology (Thermally Cured, Pressure Cured), End-Use Industry (Electrical & Electronics, Transportation, Packaging), Region - Global Forecast to 2022", published by MarketsandMarkets™, the market was valued at USD 613.5 Million in 2016 and is projected to reach USD 985.5 Million by 2022, at a CAGR of 8.2% between 2017 and 2022.
Browse 66 Market Data Tables and 42 Figures spread through 142 Pages and in-depth TOC on "Bonding Films Market"
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The growth of the bonding films market can be attributed to the increasing consumption of bonding films in the electrical & electronics and transportation end-use industries across the globe. The increased use of bonding films in various end-use industries is due to their highly effective bonding over conventional bonding methods. Moreover, these films are being increasingly used in the semiconductor manufacturing industry of the Asia Pacific region, which is also fueling the growth of the bonding films market across the globe. The growing preference for bonding films in various high-end applications of different end-use industries is also expected to contribute to the growth of the bonding films market across the globe during the forecast period.
Among types, the epoxy segment of the bonding films market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022.
Based on the type, the bonding films market has been segmented into epoxy, acrylic, polyurethane, and others. Among types, the epoxy segment accounted for the largest share of the bonding films market in 2016. This segment of the market is projected to grow at the highest CAGR during the forecast period. The increased use of epoxy bonding films in various end-use industries can be attributed to their high compatibility with various bonding substrates. Moreover, epoxy bonding films are easy to handle, exhibit minimum squeeze out, and offer effective performance when exposed to a range of temperatures and tough environmental conditions.
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The electrical & electronics end-use industry segment of the bonding films market is projected to grow at the highest CAGR between 2017 and 2022.
The electrical & electronics end-use industry segment accounted for the largest share of the bonding films market in 2016. Bonding films are extensively used in high-end defense & aerospace, automotive, industrial, and consumer electronics applications. The bonding films that are manufactured for use in the electrical & electronics industry are supplied in the form of rolls, sheets, or pre-cut forms. They are also die attached, which enables them to attain desired shape and characteristics. In the transportation end-use industry, bonding films are used in composite-to-composite, metal-to-metal, and composite-to-metal bonding applications.
The Asia Pacific bonding films market is projected to grow at the highest CAGR during the forecast period.
Based on the region, the Bonding Films Market has been segmented into Asia Pacific, North America, Western Europe, Central & Eastern Europe, and Rest of the World (RoW). In Rest of the World (RoW), the bonding films market has been studied for the Middle East & Africa and South America. The Asia Pacific bonding films market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific bonding films market can be attributed to the presence of the key manufacturers of bonding films in the region. Moreover, the growing demand for bonding films from various end-use industries such as electrical & electronics and transportation of the countries such as China, South Korea, Japan, and Taiwan of the region, also contribute to the growth of the Asia Pacific bonding films market. In addition, the easy availability of raw materials in the Asia Pacific region has also attracted several global companies and investors to set up their production facilities in the region, thereby contributing to the growth of the Asia Pacific bonding films market.
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Henkel AG & Co. KGaA (Germany), 3M (US), Cytec Solvay Group (Belgium), Hitachi Chemical Co., Ltd. (Japan), Arkema S.A. (France), H.B. Fuller (US), Hexcel Corporation (US), Gurit (Switzerland), DuPont (US), Rogers Corporation (US), etc. are the key players operating in the bonding films market.
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